Pertamina Geothermal Secures $75 Million Non-Cash Facility from Bank Mizuho to Power Clean Energy Expansion

JAKARTA, Investortrust.id — PT Pertamina Geothermal Energy Tbk (PGEO), the clean energy flagship of state energy giant PT Pertamina (Persero), has secured an uncollateralized non-cash loan facility worth up to $75 million (approx. Rp 1.19 trillion) from PT Bank Mizuho Indonesia.

The trade facility agreement was officially executed at Grha Pertamina in Jakarta on Thursday, July 23, 2026, boosting the geothermal developer’s capital flexibility to accelerate its operational roadmap.

The clean-basis financing deal highlights global banking confidence in Southeast Asia’s renewable energy expansion as institutional lenders channel fresh capital into green infrastructure.

The agreement strengthens the green financing ecosystem for one of the world's largest geothermal energy producers, giving PGEO flexible trade instruments without burdening its asset base with collateral pledges.

The uncommitted omnibus facility encompasses bank guarantees, standby letters of credit (SBLC), import letters of credit (L/C), account payable financing (APF), and revolving credit lines to support ongoing capital expenditure and procurement.

By tapping international capital markets, PGEO secures liquidity to drive Indonesia's net-zero transition while scaling its self-managed installed capacity toward 1 gigawatt by 2028 and 1.8 gigawatts by 2034.

Scaling Geothermal Capacity Toward 1.8 Gigawatts

The collaboration with PT Bank Mizuho Indonesia—a subsidiary of Japan’s Mizuho Financial Group—provides low-cost trade structure support designed for long-term project development.

PGEO leadership emphasized that the agreement reinforces its prudent financial management model while expanding its access to global capital.

"We appreciate the trust and support from Bank Mizuho Indonesia through this facility, which will support PGE’s operational needs and future project developments while serving as the foundation for a mutually beneficial long-term partnership," PGEO Finance Director Fransetya Hasudungan Hutabarat stated on Thursday, July 23, 2026.

"We hope this collaboration continues to grow and jointly drive the acceleration of the energy transition toward net-zero emissions in Indonesia," Hutabarat added during the signing ceremony.

The financial injection comes as PGEO aggressively builds out its renewable portfolio to meet national decarbonization mandates.

"We hope this agreement is not merely a financing facility, but also serves as a form of support for PGE’s ambition to become an exemplary benchmark for geothermal development, not only in Indonesia but globally," PT Bank Mizuho Indonesia Marketing Director Heru Gautama Hatman stated on Thursday, July 23, 2026.