17 Years of PGEO: Journeying Towards 1 Gigawatt Production

PGEO appears to have been pursuing an aggressive expansion strategy throughout the year after its IPO earlier in the year. The company's share performance has also witnessed an increase, aligning with its goal of becoming a substantial producer of up to 1 gigawatt of electricity.

Redaksi

16 Des 2023 - 19.26
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17 Years of PGEO: Journeying Towards 1 Gigawatt Production

Bisnis, JAKARTA – In its 17th year of operation, PT Pertamina Geothermal Energy Tbk. (PGEO) remains steadfast in its commitment to developing geothermal potential in Indonesia.

In February 2023, the company successfully conducted an initial public offering (IPO), marking a significant corporate action on the stock exchange. “The IPO recorded impressive performance, with revenues reaching IDR 9.05 trillion and an oversubscription of up to 3.81 times,” as stated by President Director Julfi Hadi on Friday (15/12/2023).

As of December 11, 2023, PGEO shares have experienced a notable increase of 20.54 percent, resulting in a market capitalization of IDR 48.4 trillion.

“This achievement underscores investors' confidence in the advancement of renewable energy, particularly geothermal energy, in Indonesia. Throughout operations, PGEO effectively tried acceleration realistically,” as mentioned by Julfi.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Rayful Mudassir
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17 Years of PGEO: Journeying Towards 1 Gigawatt Production

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