FUTR Prepares US$120 Million Investment for Baturaden Geothermal Project
PT Futura Energi Global Tbk (FUTR) sees ample opportunity for geothermal business development in Indonesia. FUTR is targeting the Baturaden geothermal project in Purwokerto, Central Java, with an initial capacity of 30 megawatts (MW).
Data from the Ministry of Energy and Mineral Resources (ESDM), presented at The 12th Indonesia International Geothermal Convention & Exhibition (IIGCE) 2026, shows Indonesia’s geothermal potential reaches 23,202.77 MW. However, installed geothermal capacity currently stands at only 2,776.39 MW, or around 11.6% of the total national potential. This means approximately 88.4% of geothermal potential remains undeveloped.
“Our current focus is ensuring the reactivation process in the fourth quarter of 2026 and that project development proceeds well, from technical studies and drilling preparation to the next development stages,” said Anggara at the IIGCE 2026 event on Wednesday (19/8/2026).
He explained that the Baturaden geothermal project is targeted to have a generating capacity of 30 MW in its first phase. Overall, the project has a potential capacity of up to 220 MW.
To realise the project’s reactivation, FUTR estimates an investment requirement of around US$120 million. Anggara said FUTR will carry out the project development in stages, taking into account technical and economic aspects.
“We want to ensure each development stage is carried out in a measured manner, paying attention to technical aspects, economic viability, and investment needs,” he said.
In addition to developing the Baturaden geothermal project, FUTR is also preparing an inorganic business development strategy. FUTR is currently targeting several other renewable energy projects, including solar power plants (PLTS) and mini hydro.
Anggara said the development plans for the PLTS and mini hydro projects are currently still in the due diligence stage. As a result, there is no certainty yet regarding the projects or the capacity the company will develop in these two segments.
The development of the Baturaden project will be one of FUTR’s steps in expanding its energy business portfolio. FUTR will continue the reactivation process and project development stages in accordance with technical readiness and investment requirements.