20250627_MEDC_Laporan Informasi dan Fakta Material_31909296_lamp2.pdf

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Indonesia




                       President Prabowo Inaugurates Commercial Operations of Ijen Geothermal
                                        and East Bali Solar PV Power Plants

Bondowoso, 26 June 2025 – President of the Republic of Indonesia, Prabowo Subianto, officially inaugurated the
commercial operations of two renewable energy projects: the Ijen Geothermal Power Plant in Bondowoso, East
Java, and the East Bali Solar PV Power Plant in Karangasem, Bali. Both power plants were developed by PT
Medco Power Indonesia (Medco Power), a subsidiary of PT Medco Energi Internasional Tbk (MedcoEnergi),
supporting Indonesia’s national power grid and renewable energy targets

The inauguration, held in a hybrid format by the President, is part of the inauguration ceremony for renewable
energy projects in 15 provinces and the increase in oil production from the Cepu Block. It was attended in person
by the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia, East Java Governor Khofifah Indar
Parawansa, President Director of MedcoEnergi Hilmi Panigoro, President Director of PLN (Persero) Darmawan
Prasodjo, as well as representatives from various central and regional government agencies in Blawan Ijen,
Bondowoso, East Java, on Thursday (26/6/2025).

The Ijen Geothermal Power Plant, operated by PT Medco Cahaya Geothermal - a joint venture between Medco
Power Indonesia and Ormat Technologies Inc.- is the first geothermal project in East Java. This first phase has an
installed capacity of 35 MW and can supply clean electricity to more than 85,000 households. The East Bali Solar
PV Power Plant, now the largest utility scale Solar PV in Bali, was developed by PT Medcosolar Bali Timur, a
partnership between Medco Power and Solar Philippines. With a capacity of 25 MWp, the Plant is expected to
generate approximately 50 GWh of electricity annually, sufficient to meet the needs of around 42,000 households.
The Ijen Geothermal Power Plant is estimated to reduce CO₂ emissions by up to 230,000 tons per year, while the
East Bali Solar PV Plant is expected to reduce more than 44,000 tons of CO₂ annually.

The President of the Republic of Indonesia, Prabowo Subianto, expressed appreciation for the operation of the
Ijen Geothermal Power Plant and the East Bali Solar PV Power Plant as important parts of achieving sustainable
national energy independence and proof of Indonesia's capability to move towards energy self-sufficiency, which
is crucial for the nation's future. "The operation of the Ijen Geothermal Power Plant and the East Bali Solar Power
Plant is evidence that Indonesia is moving towards independence. We will stand on our own feet and we will be
able to provide energy for all the people of Indonesia in an efficient and economical manner," said the President.

The Minister of Energy and Mineral Resources, Bahlil Lahadalia, in his report stated that the renewable energy
projects in 15 provinces inaugurated today encompass a total capacity of 379.7 megawatts with an investment
value of around Rp25 trillion. "These projects can drive the growth of the local industry with a domestic content
level (TKDN) reaching 40 percent and absorbing more than 9,500 workers nationwide, including 1,404 workers in
Ijen," said Bahlil.

Hilmi Panigoro, President Director of MedcoEnergi, reaffirmed the company’s commitment to support Indonesia’s
energy transition agenda: “We are proud to contribute to the nation’s renewable energy targets through these
projects. Cross-sector collaboration is essential to ensure a reliable, affordable and sustainable energy for
Indonesia,” he said.

Eka Satria, President Director of Medco Power, stated, “The integration of the Ijen geothermal and East Bali Solar
PV Plant into Java-Bali grid will enhance both the energy reliability and the sustainability of communities and
businesses in the region. Medco Power will continue supporting the Government in developing more renewable
power plants in Indonesia.”

PT Medco Energi Internasional Tbk (“MedcoEnergi”) is a leading Southeast Asian energy and natural resources company listed on the Indonesia Stock Exchange
(MEDC-IDX). MedcoEnergi has three key business segments, Oil & Gas, Power and Copper & Gold Mining. MedcoEnergi explores for and produces oil and gas
primarily in Indonesia. The Group operates gas, PV, geothermal and hydro power plants in Indonesia through Medco Power and has a non-consolidated interest in
Amman Mineral Internasional Tbk which operates a large copper and gold mine in Indonesia.

This document may contain projections, plans, strategies, policies and objectives of MedcoEnergi which should be treated as forward looking statements within the
meaning of applicable law. Forward looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those
expressed or implied in these statements. The Company does not guarantee that any action taken in reliance on this document will bring specific results.

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