Utilities
Sumeet Singh runs the rule over this state-owned power producer as it looks to raise US$650m in its upcoming Indonesian IPO - PGE currently manages 13 Geothermal Working Areas with a total capacity of 1,877 MW. From an investment perspective, PGE will tick the renewable energy box and probably fall into a lot of ESG investment lists, which will aid demand for the deal. However, Sumeet notes that the company has regularly missed targets in the past, which blunts the attractiveness of its lofty future ambitions (aims to nearly double organic production capacity over the next five years).
Edition: 153
- 03 February, 2023