Source file signed link, expires in 15 minutes
Extracted text 303
Page 1
Progress. Growth. Future. 2025 Annual & Sustainability Report PT Medco Power Indonesia
Page 2
Contents
Overview Corporate Governance Attachments
2 Our Presence 48 Implementing Good 114 Company Structure
4 2025 Highlights Corporate Governance 115 Organisational Structure
49 General Meeting of Shareholders 116 List of Abbreviations
2025 Performance 50 Board of Commissioners 117 Cross Reference to
8 Report by the President 51 Board of Directors OJK Requirements
Commissioner 53 Audit Committee 128 POJK 51 Reference Index
12 Report by The President Director 54 Nomination and 130 GRI Index
& Chief Executive Officer Remuneration Committee 132 Feedback Form
16 Awards, Certifications 56 Supply Chain 133 Financial Statements
and Achievements Management Committee
56 Sustainability & Risk
Management Discussion & Management Committee
Analysis 57 Corporate Secretary
20 Financial Review 58 Internal Audit and
23 Capital Structure, Integrity Compliance
Liquidity, and Dividends 60 Appointment of Public Accountant
23 Business Prospects 60 Risk Management System
63 Internal Control System
and Challenges
63 Whistleblowing System
64 Business Ethics Guidelines
Business Activities
26 Business Activities
28 Asset Information
Sustainability Report
68 About the Sustainability Report
69 Material Topics Determination
Company Profile and List Process
32 Company History
74 Sustainability Strategy
34 Medco Power in Brief
78 Climate Change Management
35 Vision, Mission,
80 Sustainability Governance
and Corporate Values
85 Sustainable Economic
36 Board of Commissioners Profile
Performance
37 Board of Directors Profile
86 Environmental Performance
38 Financial Highlights
92 Human Resources
40 Operational Highlights
Management Performance
42 Share Information
99 Occupational Health and Safety
43 Corporate Data
107 Community Development
44 Other Securities Information
Performance
111 Statement Letter of the
Board of Commissioners
and Board of Directors
East Bali Solar PV, Bali
Page 3
In an ever transforming energy sector, clear principles guide Medco Power’s contribution to a sustainable world. Progress, Growth, and Future form the framework of our commitment. Progress drives our efforts, representing our continuous journey of improvement, innovation, and adopting better energy solutions. This advancement creates the momentum for meaningful Growth, allowing us to thoughtfully expand our renewable capabilities and generate shared value for all stakeholders. Driven by a dedicated focus on the Future, we are continuously evolving to support the region’s energy transition. Together, these principles channel our ambition into results that serve the needs of tomorrow.
Page 4
2025 Management Business Company Corporate Sustainability
2 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Our Presence [GRI 2-1]
Malaysia
2
Malaysia
6
Su
3
m
at
ra
Kalimantan
4
5
I N D O
1
7 8
Java
9
10
Legend 12
Production
Development
Exploration, Pre-FID & Study
Operation & Maintenance
Our Assets
1 Headquarters 3 Riau 5 South Sumatra
The Energy Building, Jakarta MRPR Gas-fired EPE Gas-fired
MPSI O&M MPE Gas-fired
2 North Sumatra
Sarulla Geothermal 4 West Sumatra 6 Batam & Riau Islands
MGS O&M Bonjol PSPE Geothermal MEB Gas-fired
Samosir PSPE Geothermal DEB Gas-fired
ELB Gas-fired
Bulan Solar PV
Page 5
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 3
11
Sulawesi
Papua
N E S I A
este
or L
Tim
13
7 West Java 9 East Java 11 North Sulawesi
Cibalapulang Mini-hydro Ijen Geothermal Sulut-1 O&M
Pusaka Mini-hydro MPGS O&M
12 Sumbawa
8 Central Java 10 Bali Sumbawa Solar PV
TJBPS O&M East Bali Solar PV
13 Timor
West Bali Solar PV
Timor-1 O&M
Page 6
2025 Management Business Company Corporate Sustainability
4 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
2025 Highlights
Operation Highlights
1,011MW 2,160 MW
Power Sales (GWh)
4,371
4,155 4,108
IPP Installed Capacity O&M Capacity
801 831 1,094
4,371GWh
Power Sales
3,353 3,277 3,277
26%
Renewables Capacity
25%
Renewables Sales
2023
Renewables
2024 2025
Gas-Fired
Assets in Operation and in the Pipeline
Gas-fired Geothermal Solar PV Mini-hydro Operation &
Maintenance
6 4 3 2 6
Projects in the Pipeline
Projects Conditional License Exploration/PSPE
Ijen Geothermal Unit 2 & 3 Bulan Solar PV 600 MW Bonjol Geothermal ~60 MW
Batam Expansion Samosir Geothermal ~40 MW
Sustainability Community Governance
Highlights Empowerment
Advancing Our Low-Carbon Transition Empowering Communities, Internal Audit of Anti-Bribery
• Renewable Growth: Generated 4,371 GWh
Growing Together Management System (ABMS)
(up 6%), with 25% from renewable sources. Creating employment opportunities, Internal audit evaluations of ABMS
• Capacity Expansion: Increased ELB engaging local suppliers, and participating were carried out at MEB, DEB, ELB,
Gas-Fired from 70 MW to 109 MW in community initiatives and enhanced and MRPR to support annual compliance
via combined-cycle conversion. public infrastructure, education, health, verification and continuous alignment
• Operational Milestones: Successfully and community facilities while fostering with ISO 37001:2016.
achieved Commercial Operation Date positive relationships with stakeholders
(COD) for Ijen Geothermal Unit 1 and through outreach and regional
East Bali Solar PV. engagement activities.
Page 7
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 5
Our People Occupational Health and Safety
132 0.59
Total Recordable
87% 13% Zero
Incident Rate (TRIR)
• Lost Time Incident (LTI)
Level 3
905 • Occupational Illness Rate
(Independent)
Female Male Safety Culture Maturity
1,037 813 56,422,282 Safe Man Hours
Number of Employees Permanent Employees
Financial
Gross Profit EBITDA Investment‑Grade National Credit Rating
(In Billions Rupiah) (In Billions Rupiah) by PEFINDO for five consecutive years
1,490
1,119 1,194
822
1,200
idA
718
2023 2024 2025 2023 2024 2025
Environmental Management and Climate Change
1 2 3 4 5
Renewables Clean energy Achieved a TJBPS, where Planted 140,000
accounted for comprised 32% 9.6% reduction in Medco Power provides tree seedlings
26% of installed of total O&M emission intensity O&M services contract,
capacity, aligned with service operations obtained the Green
the 2025 interim PROPER award
climate target
Page 8
2025 Management Business Company Corporate Sustainability
6 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
2025
Performance
MPSoS Solar PV, Sumbawa
Page 9
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 7
8 Report by the
President Commissioner
12 Report by the President Director
& Chief Executive Officer
16 Awards, Certifications
and Achievements
Page 10
2025 Management Business Company Corporate Sustainability 8 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments Report by the President Commissioner Medco Power’s 2025 achievement affirms commitment to clean and renewable energy in support of its parent company’s energy transition plan and long-term sustainability goals. Amri Siahaan President Commissioner
Page 11
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 9
3,171 MW
In 2025, Medco Power made meaningful long-term strategic objectives. To ensure
progress in advancing its clean and effective oversight, the BOC and BOD
renewable energy agenda. In line with meet every quarter. In 2025, the BOC also
IPP Installed Capacity
the Indonesian government’s call for convened nine additional ad hoc meetings
new power generation, the Company with the BOD to address emerging issues and O&M
commenced commercial operation and opportunities, enabling timely and
of two new renewable power plants, effective strategic direction.
expanded capacity at an existing gas-fired
IPP through a combined cycle upgrade,
while also commencing commercial
operation of new Operation and Maintenance
The BOC is further supported by
its committees in accordance with
the Company’s charter. The Audit
26%
Renewables Mix
(O&M) contracts. These achievements Committee met quarterly and provided
reflect the Company’s commitment input on matters relating to financial
to embedding sustainability across its information, the implementation of
projects and operations, in support of internal control systems, and compliance
Indonesia’s energy transition and its with applicable regulations. The Nomination
broader net-zero ambitions. & Remuneration Committee advised
on BOD nominations and remuneration
Providing Board Oversight based on their performance, as well as
development programmes for the BOD
and Strategic Guidance and BOC. The Sustainability & Risk
The Board of Commissioners (BOC) Management Committee oversaw the
fulfils its oversight role by ensuring Company’s risk management frameworks
that the Company’s strategic execution, and practices. Throughout 2025, all
governance effectiveness, risk management, committees conducted their meetings,
and sustainability plans remain on track. ensuring continued support for the
For the year-in-review, the BOC also Board’s oversight function.
recognised the Board of Directors (BOD)’s
progress in carrying out the Company’s Ensuring Good
transformation initiatives in capability Corporate Governance
building, leadership development, and
workplace efficiency. Good Corporate Governance (GCG)
guides the Company in staying accountable
In 2025, the BOC provided guidance to stakeholders, maintaining transparency
as management led the Company in all its dealings, and making well-informed
towards its performance goals, while decisions. More than just regulatory
maintaining high standards in safety and compliance, the BOC views GCG as a
operational excellence. All key projects strategic enabler of long-term resilience
were delivered in a timely manner and and stakeholder trust, enabling the
on budget, and the Company achieved company to reach its performance and
its sales targets. Furthermore, by ensuring growth objectives.
that ESG principles were adhered to in
the decision-making process and maintaining In 2025, the Company continued to
discipline in strategy execution, the BOD prioritise GCG across its various activities.
has kept the Company on course toward The BOC noted the BOD’s efforts to
its renewable energy mix target by 2030. maintain certifications such as ISO 37001
anti-bribery management system and to
Supervising the BOD ensure audits were conducted according
to schedule. The BOC also reviewed the
As part of its mandate, the BOC supervises adequacy of internal control systems and
the BOD in the formulation and execution risk mitigation measures to ensure that
of the Company’s strategy, governance, operations, transformation initiatives, and
and budget through structured reviews project expansions were implemented
of financial performance, risk exposure, within appropriate governance safeguards.
budget execution, and alignment with
Page 12
2025 Management Business Company Corporate Sustainability
10 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Report by
the President Commissioner
The BOC remains The Company’s Code of Conduct and
values are continuously implemented,
In this regard, we are pleased to report that
MedcoEnergi achieved an MSCI ESG rating
committed to promoting ethical behaviour and supporting
the implementation of ethics & compliance
upgrade to AAA, positioning it among the
leading performers in its peer group.
guiding the BOD initiatives across all levels in the organisation.
Third-party vendors and suppliers were The BOC also recognises the BOD’s
in strengthening further encouraged to comply with the
Company’s Code of Conduct through the
commitment to maintaining a safe
and healthy workplace, in compliance
organisational signing of Contractor Statement of Ethical with all relevant laws and regulations,
particularly those concerning water and
Compliance declarations, reinforcing a
capabilities, culture of integrity across the Company’s air quality, as well as the management
of effluents and waste.
broader ecosystem.
deepening its Prospects for 2026
Strengthening Human Capital
expertise in clean and Leadership Looking ahead, the BOC endorses the
and renewable In the area of human capital, the BOC
Company’s priorities for 2026, which
include advancing the next phases of
commends the BOD’s efforts in strengthening
energy, pursuing the workforce and leadership pipeline
Ijen Geothermal and progressing Bonjol
and Samosir Geothermal and Bulan
through focused training and development
innovative programmes. We are pleased to observe
Solar PV, alongside Gas to Power
initiatives that support the energy transition.
technologies, and the growing representation of women
across all levels of the organisation,
These priorities are well-aligned with
Indonesia’s new Electricity Supply Business
exploring strategic including in management roles. This
commitment to equal opportunity is
Plan (RUPTL) 2025–2034, which targets 76%
of new power additions from renewable
partnerships. essential in attracting and retaining the
best talent to grow with Medco Power.
energy, with the majority expected to
come from IPPs such as Medco Power.
The BOC also acknowledges the importance
To achieve these objectives, the
of ongoing succession planning and is
Company will need to continue prioritising
encouraged to see continued investment in
execution discipline, safety, sustainability,
developing young talents into future leaders.
governance, and sustained transformation.
Through training and mentorship programmes,
The BOC remains committed to guiding
these young leaders are being equipped with
the BOD in strengthening organisational
the skills and knowledge needed to navigate
capabilities, deepening its expertise in
the evolving energy landscape.
clean and renewable energy, pursuing
innovative technologies and exploring
Supporting Sustainability strategic partnerships.
The Company views sustainability not
as a standalone initiative, but as an Appreciation
indispensable driver for long-term value
We would like to thank all our
creation. To this end, the BOC affirms
stakeholders, including the Government
the BOD’s effort to embed sustainability
of Indonesia, shareholders, investors,
across all aspects of the Company,
contractors, vendors, employees, and
including but not limited to strategic decision
communities for putting your trust in us.
making, Corporate Social Responsibility
Your unwavering support over the past
(CSR) activities, environmental stewardship,
two decades has been instrumental to
and people development (read more in our
the Company’s growth and success.
Sustainability Chapter). Moreover, by building
We wish you all a healthy, prosperous
an organisational culture that is marked by
and safe year ahead.
resilience, Medco Power will be better
prepared to deal with future environmental,
economic, and geopolitical challenges.
As a subsidiary of MedcoEnergi,
Medco Power is committed to upholding
the climate change and sustainability goals
Amri Siahaan
of its parent company, as well as supporting
its long-term energy transition plans. President Commissioner
Page 13
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 11 MRPR Gas-fired IPP, Riau
Page 14
2025 Management Business Company Corporate Sustainability 12 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments Report by the President Director & Chief Executive Officer [OJK D.1] [GRI 2-22] In 2025, Medco Power celebrated its 21st year of operations. It was a year marked by effective execution, corporate responsibility, organisational readiness, sustainability, and long-term value creation. Eka Satria President Director & Chief Executive Officer
Page 15
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 13
4,371 GWh
As proof of our commitment to clean and 56 million cumulative safe working hours
renewable energy development, we (up from 49.7 million hours in 2024).
successfully delivered three clean and Even as these figures guide us in
Power Sales
renewable power projects. maintaining high safety standards,
it is important to note that safety
Over the past two decades, the Company performance is not viewed as a
has successfully navigated the ever-evolving compliance metric, but rather a leadership
energy landscape to become a key player in
the Indonesian power sector. As a subsidiary
of regional energy leader MedcoEnergi,
responsibility and operational discipline
that reflects our organisational maturity.
Accordingly, we continue to treat every
IDR 1,200 bn
EBITDA
we support and complement our parent incident as a learning opportunity to
company’s extensive activities in Oil & Gas, further strengthen safety culture through
Power, and Copper & Gold Mining activities, disciplined application of the 3T Golden
with our own unique focus on clean and Rules and 11 Life Saving Rules.
renewable energy. Medco Power currently
owns and operates a diversified portfolio of To ensure uncompromised safety,
15 Gas to Power, Geothermal, Solar PV and we maintain our safety standards
other Renewables IPPs (both operating and through ongoing accreditations. In 2025,
in the pipeline), and provides Operation and the Company maintained SMK2 and
Maintenance (O&M) services for six power SMK3 certification, along with ISO 45001
plants across Indonesia. for Occupational Health and Safety, ISO
9001 for Quality Management Systems,
Transforming for the Future and ISO 14001 for Environmental
Management System. These certifications
In June 2025, Medco Power launched a
form the basis of our integrated Health,
series of new transformation initiatives
Safety and Environment Management
to improve operational and maintenance
System. In addition to certifications,
practices across the Company and its
we are also affirmed of our commitment
subsidiaries. We set a clear objective
to environmental stewardship through
to achieve positive net income and
awards such as the Green PROPER
strengthen execution fundamentals.
award that TJB Power Services
This focused transformation agenda
has received.
covered streamlining assets and functions,
operational discipline, cost control, and
governance improvements. More than just
Achieving Our
operational streamlining, the transformation Operational Objectives
agenda also empowers us to strengthen Our diversified portfolio and long-term
execution reliability, restore profitability, contracted IPP structure ensure revenue
and build a performance-driven culture visibility and stability, while renewable
that supports sustainable growth. expansion strengthens our long-term
competitiveness in the evolving
Medco Power will continue the
energy market.
transformation efforts in 2026,
enhancing cross assets and function In line with the Indonesian government’s
collaborations, KPI-based measurement call for greater investment into renewable
and monitoring, focus on high-impact energy, we continued to expand our
priorities, and linking of initiatives for clean and renewable energy portfolio.
greater synergy. Key highlights for the year included
inaugurating operations of the 35 MW
Putting Safety and Security First Ijen Geothermal and the 25 MWp East Bali
The safety of employees, contractors, vendors Solar PV, as well as increasing capacity
and local communities represents a core of our existing ELB Gas-fired IPP in Batam
pillar in both the Company’s transformation from 70 MW to 109 MW. These new
journey, as well as sustainability agenda. additions to our power portfolio enabled
In 2025, we recorded zero lost time us to increase our total power sales to
incidents and occupational illnesses, 4,371 GWh, up from 4,108 GWh in the
scored a Level three (independent) previous year. Sales from our renewables
safety culture maturity rating and achieved portfolio also increased 5% to 25%.
Page 16
2025 Management Business Company Corporate Sustainability
14 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Report by the President Director &
Chief Executive Officer
Building on the In 2025, Medco Power O&M business also
expanded with the COD of the second
Ensuring Environmental
Sustainability and Social
achievements and final 50 MW Unit of Timor-1 Coal-Fired
Steam Power Plant (CFSPP) in August 2025, Responsibility
and lessons learnt and 2x50 MW Sulut-1 CFSPPs which
commenced operations in March 2025 and
At Medco Power, we treat environmental
sustainability and social responsibility
from 2025, we will July 2025 respectively. as an integral part our business strategy,
transformation agenda, and decision-
continue to leverage Building Organisational making process. As we scale up to meet
Capability Indonesia’s growing energy requirements,
our sustainable Medco Power is committed to cultivating
we remain committed to doing so in a
priorities to deliver a culture of lifelong learning, enabling
individuals to access necessary resources
sustainable manner.
A key part of our sustainability agenda
profitable growth. and development opportunities to enhance is the responsible management of
their capabilities continuously. water and waste within our operations.
In 2025, Medco Power improved upon
Throughout 2025, Medco Power delivered
our existing efforts as well as came
more than 5,900 hours of structured training
up with new initiatives to ensure that
across 454 competency development
the risk of environmental pollution
initiatives, reinforcing our commitment to
was kept to a minimum and that our
strengthening organisational capability in line
operations stayed compliant with all
with the Company’s transformation agenda.
relevant laws, regulations, and industry
These programmes focused on enhancing
standards concerning water, air quality,
operational discipline, technical excellence,
effluents, and waste.
leadership accountability, and governance
awareness across assets and functions. In terms of social responsibility, we
continued to support local communities
The Company invested approximately
by conducting regular knowledge-sharing
IDR 2.78 billion in leadership and technical
sessions in local schools, extending
development, covering critical areas such
access to basic healthcare, and supporting
as geothermal and solar PV operations,
community health initiatives such as
maintenance reliability, safety leadership,
medical examinations for pregnant women
environmental compliance, and regulatory
and malnutrition prevention for children.
standards. These investments ensure that
We also did our part to stimulate local
our workforce remains equipped to support
economic development by hiring and
portfolio expansion while maintaining high
engaging local contractors and vendors
operational and governance standards.
where possible.
To strengthen operational excellence,
As part of our commitment to local
the Company also implemented Continuous
community development in areas
Improvement programmes and adopted
surrounding our operations, Medco
national competency standards for solar PV
Power implemented a circular-economy
operations (SKKNI and SKTTK) as the
cricket farming programme with a local
foundation for human capital development
community group in Pekanbaru to
and operational risk control. These
strengthen livelihoods and promote
standards serve as benchmarks to ensure
environmentally responsible practices,
workforce competency, safety, and
resulting in significantly higher production
sustainable performance, and are supported
and income. We also supplied free
by regular competency assessments to
electricity installation to underprivileged
ensure compliance and consistent
operational reliability.
Page 17
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 15
households in the Cianjur region. This demand remains among the highest
service was provided by our subsidiary, in Indonesia, while enhancing grid
Pembangkitan Pusaka Parahiangan (PPP), reliability and efficiency.
which operates a 9 MW Mini-hydro IPP
in the area. All of these initiatives reflect Looking ahead to 2026, along with
our broader commitment to inclusive its renewables portfolio, Medco Power
and scalable community development, will remain active in gas to power initiatives
ensuring that our growth generates that support the energy transition. In parallel,
shared value for stakeholders. the Company will seek strategic acquisitions,
joint ventures, and partnerships to expand
Entering the Next Phase capacity and access new technologies,
while continuing to prioritise safety,
In 2026, as continuation of our timely project delivery, operational and
transformation journey, many of cost efficiency.
our initiatives in active development
will progress into the implementation Our approach to execution is grounded
phase. This next phase calls for in operational efficiency and prudent
strong cross-functional collaboration, cost management, complemented by
consistent execution, and measurable, a strong focus on engagement with
sustainable outcomes. employees and partners. By aligning
their aspirations with the Company’s
Following the commencement of purpose, we seek to foster responsibility,
commercial operations at the East Bali commitment, and sustained support for
Solar PV and Ijen Geothermal Unit 1 our strategic objectives.
projects, Medco Power will continue
to grow its renewable energy portfolio. Appreciation
The Company’s focus includes advancing
subsequent phases of the Ijen project, We enter 2026 with renewed confidence
ongoing geothermal exploration in and a clear direction. This is made possible
Bonjol (West Sumatra) and Samosir by all stakeholders who have journeyed
(North Sumatra), and finalising feasibility with us to provide reliable, affordable,
studies for wind power development in and sustainable energy. These include
West Sumbawa, serving both captive the communities around our operations,
customers and PLN. Progress is also our colleagues for their dedication,
being made on the Bulan Solar PV project, and the Government of Indonesia for
which is being evaluated as a potential their unwavering support. We wish
future renewable development hub. one and all, a happy, prosperous and
safe year ahead.
At the same time, the Company continues
to strengthen its gas to power portfolio
as a key enabler of the energy transition.
Building on the successful ELB combined
cycle add-on in Batam, the Company
is advancing the expansion of its
existing Batam gas-fired power plant. Eka Satria
This project is designed to support President Director &
the Batam region, where electricity Chief Executive Officer
Page 18
2025 Management Business Company Corporate Sustainability
16 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Awards, Certifications,
and Achievements
Gas-fired
Awards Certifications
• ELB, MRPR and MEB received a recognition for compliance • Medco Power, MRPR, ELB, and MEB received an
in implementing the Electrical Safety Management System ISO Integrated 9001, 14001, and 45001 last December 2025,
(SMK2) with Blue Rating. certified by TUV Nord.
• MRPR was presented by the Head of PMI Pekanbaru
in recognition of supporting voluntary blood drives,
ensuring the availability of sufficient blood stocks for the
Pekanbaru community. Achievements
• MRPR was presented by the Mayor of Pekanbaru in recognition
• Increased generating capacity at the ELB Gas-fired
of voluntary blood donations and free medical check-ups to
from 70 MW to 109 MW by utilising exhaust heat to generate
improve the health and well-being of Pekanbaru’s citizens.
additional power through efficient heat-recovery technology.
• MRPR was presented by the Mayor of Pekanbaru in recognition
of empowering Early Childhood Education via PAUD
renovations and Clean & Healthy Lifestyle education.
• MEB received an award for its outstanding contribution to
vocational education development in the region.
• MEB received an award for its outstanding contribution to
support home electricity installation programme for
underprivileged family in the region.
• MEB, DEB, MRPR, and MPE received the Blue PROPER
Award, presented by Ministry of Environment and Forestry.
• MPE received an award for participation in social service
activities through blood donation at the PMI Awards 2025.
• MPE received a Certificate of Appreciation from National
Narcotics Agency (BNN) South Sumatra and Prabumulih as
a category of private environment free from drug shields.
Geothermal
Awards Achievements
• MCG received a PRATAMA Certificate in the category of • Successfully commenced commercial operations of the
Occupational Safety and Health (K3) and Geothermal Engineering 35 MW Ijen Geothermal Unit 1 inaugurated by President
for work areas not yet in production (project stage). of the Republic of Indonesia, Prabowo Subianto.
• MCG awarded the Best IPP in the category of Renewable • Advanced geothermal exploration assets, completed drilling
Energy Power Plant – Technology Innovation at the Indonesia of the first two exploration wells at Bonjol Geothermal and
Best Electricity Awards. Samosir Geothermal, progressing subsurface studies,
strengthening the Company’s long-term renewable energy
pipeline and energy transition commitment.
Page 19
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 17
Solar PV & Other Renewables
Awards Achievements
• BJI received a Certificate of Appreciation from PMI Cianjur for • Marked a significant milestone with the commencement of
contribution and active participation in Blood Donation initiatives and commercial operations of the 25 MWp East Bali Solar PV
for participation in Drug Testing and the Prevention and Eradication inaugurated by President of the Republic of Indonesia,
of Drug Abuse and Illicit Trafficking (P4GN) programme. Prabowo Subianto.
• PPP received a GOLD category Award from the Provincial • Completed the installation of two 140-metre measurement
Occupational Safety and Health Advisory Committee (P2K3) of towers in West Sumbawa Regency – an important milestone
West Java in 2025, and an Award for achieving zero accidents in the Company’s first wind power plant project.
by implementing the Occupational Safety and Health Programme,
reaching 376,874 working hours.
• PPP received a Certificate of active participation in conducting
outreach on the prevention and eradication of drug abuse in
the workplace.
Operation & Maintenance
Awards Certifications
• MPES-Timor received a Certificate of active participation in • MPSI received an ISO Integrated 9001, 14001, and 45001 last
conducting outreach on the prevention and eradication of drug August 2025, certified by TUV Nord.
abuse in the workplace. • TJBPS received an ISO Integrated 9001, 14001, and 45001 last
• TJBPS received the Green PROPER Award, presented by August 2025, certified by United Registrar of System (URS).
Ministry of Environment and Forestry. • TJBPS received a Coal Laboratory & Calibration (ISO/IEC
• TJBPS received a Recognition for compliance in implementing 17025:2017) 3rd Accreditation on 20 April 2025, accredited
the Occupational Health Safety Management System (SMK3). by Komite Akreditasi Nasional (KAN).
Achievements
• Operations and Maintenance business expanded
to include the second and final 50 MW unit of Timor-1 Coal-Fired
Steam Power Plant (CFSPP) and 2x50 MW Sulut-1 CFSPP.
Ijen Geothermal, East Java East Bali Solar PV, Bali
Page 20
2025 Management Business Company Corporate Sustainability
18 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Management
Discussion &
Analysis
Ijen Geothermal, East Java
Page 21
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 19
20 Financial Review
23 Capital Structure,
Liquidity, and Dividends
23 Business Prospects
and Challenges
Page 22
2025 Management Business Company Corporate Sustainability
20 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Financial
Review
In 2025, Medco Power recorded total primarily driven by the commencement of From a financial reporting perspective,
power sales of 4,371 GWh, with the O&M services for PLN’s power plants in the transition from construction to
majority 3,277 GWh generated from Timor and North Sulawesi. operations has enhanced the Company’s
gas-fired. Geothermal IPPs contributed profitability profile. Construction activities
943 GWh, while solar PV and hydro In accordance with applicable accounting typically generate lower margins, while
combined delivered 151 GWh, representing standards, Rp1,215 billion was recognised as operational activities provide higher and
a 30.17% increase from 116 GWh in 2024. power sales revenue, up from Rp746 billion more sustainable returns. Accordingly,
This increase was supported by the recognised in 2024. The difference between the reduction in construction revenue was
commercial operation of the Ijen Geothermal total billing and recognised revenue reflects accompanied by an improvement in overall
Unit 1, East Bali Solar PV, and ELB Gas-fired accounting adjustments, whereby the margin quality and a lower exposure to
IPP, all of which achieved Commercial variance is treated as a deduction from lease project execution risk.
Operation Date (COD) during the year. receivables and concession financial assets.
Medco Power recorded EBITDA of
The Company reported a rise in total As the East Bali Solar PV and Ijen Geothermal Rp1,200 billion and profit attributable to
contractual billing to PLN under PPA’s are structured under service concession parent of Rp17 billion in 2025. The year
Rp2,410 billion in 2025, up from Rp1,721 billion arrangements, their construction progress concluded with the full commissioning of
in the previous year. In addition, revenue contributes directly to the Company’s key assets, which together are expected
from operation and maintenance (O&M) construction revenue. In 2025, construction to contribute additional scale and recurring
services – representing a separate recurring income declined by 78%, from Rp1,277 billion earnings in 2026. In parallel, the Company
revenue stream – continued to grow, in 2024 to Rp276 billion, primarily reflecting continued initiatives to strengthen asset
reaching Rp636 billion compared to the completion of major construction activities reliability and improve cost efficiency across
Rp462 billion in 2024. The increase was and the achievement of COD of these assets. its portfolio.
Income Statement
(Expressed in millions of Rupiah)
Change
Description 2024 2025
Nominal %
Revenues 3,271,302 2,931,986 (339,316) (10.37)
Cost of Revenues (2,077,507) (1,442,458) 635,049 (30.57)
Gross Profit 1,193,794 1,489,527 295,733 24.77
Operating Expenses (610,164) (683,506) (73,342) 14.16
Other Income 167,406 211,099 43,693 26.10
Other Expenses (171,910) (24,931) 146,979 (85.50)
Profit from Operations 579,127 1,053,037 473,910 81.83
Interest Income 60,246 113,895 53,649 85.05
Finance Costs (686,855) (792,382) (105,527) 15.36
Profit (Loss) Before Income Tax Expenses (47,482) 374,550 422,032 (888.83)
Income Tax Expense (60,907) (131,410) (70,503) 115.76
Profit (Loss) for the Year (108,389) 243,140 351,529 (324.32)
Attributed to Non-Controlling Interests 154,544 225,949 71,405 46.20
Attributable to Shareholders of the Parent Entity (262,933) 17,191 280,124 (106.54)
Page 23
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 21
Total assets increased by 10.50% to liquidity strategy. Total liabilities increased with tenors ranging from three to seven
Rp20.35 trillion in 2025, driven mainly to Rp13.38 trillion from Rp11.77 trillion, years. These issuances extended the debt
by a 9.86% rise in non-current assets to reflecting refinancing activities and additional maturity profile and strengthened the
Rp16.20 trillion. This increase reflected the long-term funding aimed at strengthening long-term funding base.
recognition of concession financial assets financial resilience.
related to the Ijen Geothermal and East Bali As a result, the liability structure at
Solar PV projects, as well as the reclassification Short-term bank loans declined significantly year-end reflects a healthier maturity
of construction-related assets into finance compared to 2024, reflecting efforts to composition, with reduced reliance on
lease receivables following the commercial refinance near term obligations and reduce short term borrowings and improved
operation of Energi Listrik Batam Expansion. liquidity pressure. Meanwhile, the increase liquidity management.
in current maturities of long-term debt
Liquidity remained solid, supported by higher relates mainly to scheduled amortisation Equity remained broadly stable at Rp7.0 trillion.
cash balances and increased trade receivables of restructured facilities. Movements during the year were supported
in line with the operation of new IPP assets by the return to profitability, foreign currency
and active O&M contracts, providing sufficient Non-current liabilities increased, driven by translation gains, and contributions from
capacity to support operations, debt service, the issuance of bonds and Sharia compliant other comprehensive income of joint ventures,
and working capital needs. Sukuk. In July 2025, the Company issued partially offset by fair value movements of
Rp500 billion of bonds with tenors of five and cash flow hedging instruments. Overall,
The Company actively managed its liabilities seven years, while in February 2025, it issued the equity position reflects a resilient capital
during the year in line with its financing and Sukuk Wakalah amounting to Rp1.15 trillion base supporting portfolio growth.
Balance Sheet [OJK C.3]
(Expressed in millions of Rupiah)
Change
Description 2024 2025
Nominal %
Total Current Assets 3,668,149 4,148,548 480,399 13.10
Total Non-Current Assets 14,743,483 16,196,944 1,453,461 9.86
Total Assets 18,411,632 20,345,493 1,933,861 10.50
Total Current Liabilities 3,964,511 2,870,640 (1,093,871) (27.59)
Total Non-Current Liabilities 7,802,204 10,510,749 2,708,545 34.72
Total Liabilities 11,766,716 13,381,389 1,614,673 13.72
Total Equity 6,644,916 6,964,104 319,188 4.80
Total Liabilities and Equity 18,411,632 20,345,493 1,933,861 10.50
ELB Gas-fired, Riau Islands
Page 24
2025 Management Business Company Corporate Sustainability
22 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Financial
Review
Operating cash flows strengthened in 2025, Rp312 billion. These were partially offset which were used to refinance existing
with net cash flows from operating activities by collections of advances from reassessed obligations and optimise the maturity profile.
reaching approximately Rp997 billion, supported investment plans, reflecting disciplined Net cash outflows from financing activities
by higher electricity production and growing capital allocation. Investment activity was amounted to approximately Rp60 billion.
recurring O&M revenue. This demonstrates the more measured following the completion of
Company’s ability to fund operations internally. major projects, while maintaining support for As a result, cash and cash equivalents
future growth. increased to Rp2.36 trillion at the end of
Cash flows from investing activities reflected 2025 from Rp1.69 trillion in the previous
continued investment in concession assets, Financing activities were primarily driven year, enhancing liquidity buffers and
exploration and evaluation, and selected capital by refinancing initiatives, including proceeds financial flexibility to support operations,
expenditures, amounting to approximately from long-term bank loans, bonds, and sukuk, debt servicing, and growth initiatives.
Cash Flow
(Expressed in millions of Rupiah)
Change
Description 2024 2025
Nominal %
Net Cash Provided from Operating Activities 707,922 997,188 289,266 40.86
Net Cash Used in Investing Activities (590,669) (311,782) 278,887 (47.22)
Net Cash Used in Financing Activities (373,505) (59,529) 313,976 (84.06)
Net Increase (Decrease) in Cash and Cash Equivalents (256,253) 625,876 882,129 (344.24)
Exchange Rate Differences (2,320) 36,928 39,248 (1691.72)
Cash and Cash Equivalents at the Beginning of the Year 1,951,363 1,692,791 (258,572) (13.25)
Cash and Cash Equivalents at the End of the Year 1,692,791 2,355,595 662,804 39.15
Capital Structure – Total Liabilities and Equity
(Expressed in millions of Rupiah)
Change
Description 2024 2025
Nominal %
Short-Term Bank Loans 883,930 50,000 (833,930) (94.34)
Long-Term Loan from Banks and Other Financial Institutions 5,943,276 7,024,462 1,081,186 18.19
Sukuk and Bonds 2,151,582 2,742,275 590,693 27.45
Other Liabilities 2,787,928 3,564,652 776,725 27.86
Total Liabilities 11,766,716 13,381,389 1,614,673 13.72
Total Equity 6,644,916 6,964,104 319,188 4.80
Total Liabilities and Equity 18,411,632 20,345,493 1,933,861 10.50
Capital Expenditure
Medco Power’s total capital expenditure in 2025 was Rp662 billion (gross). This is attributed primarily to the 110 MW Ijen Geothermal, the
25 MWp units of our East Bali Solar PV, and the 39 MW Energi Listrik Batam Expansion project. These demonstrate Medco Power’s strong
commitment and support towards renewables and energy transition.
(Expressed in millions of Rupiah)
Change
Description 2024 2025
Nominal %
Addition to Concession Financial Assets 1,202,077 265,498 (936,579) (77.91)
Addition to Fixed Assets 906,662 221,163 (685,499) (75.61)
Addition to Exploration and Evaluation Assets 25,905 175,462 149,557 577,33
Addition to Investment in Shares 40,250 – (40,250) (100.00)
Total Capital Expenditure 2,174,894 662,123 (1,512,771) (69.56)
Page 25
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 23
Capital Structure,
Liquidity, and Dividends
Medco Power continues to uphold a Throughout 2025, Medco Power maintained Medco Power’s dividend policy is determined
prudent capital structure and a stable a solid liquidity position, with sufficient by the Company’s financial capacity, with
financial outlook. The Company actively internal resources and access to financing careful consideration given to the availability
reviews and manages its capital composition facilities to meet both short and long-term of cash after meeting operational funding
to support operational efficiency, profitability, obligations. Total liabilities increased by requirements, scheduled loan repayments
and long-term shareholder value. This 13.72%, rising from Rp11.8 trillion in 2024 and interest obligations, as well as ongoing
approach takes into account future capital to Rp13.4 trillion in 2025, primarily driven capital investment programmes.
requirements, operating cash flows, by project financing to support the
capital expenditures, and strategic Company’s ongoing infrastructure and In 2025, following a review of its financial
investment opportunities. energy development initiatives. priorities, the Company decided not to declare
or distribute any dividends to shareholders.
Business Prospects
and Challenges
In 2026, the Company will continue wider energy transition and help diversify capital investments, and the integration
to pursue growth in the renewable the Company’s energy portfolio. of new assets. However, with discipline,
energy sector by broadening its portfolio, resilience and a strong spirit of collaboration,
particularly in geothermal, solar PV, and To drive further expansion and innovation, we are confident that we will prevail.
other renewables developments. The the Company plans to seek strategic
adoption of advanced technologies, such as acquisitions, joint ventures, and partnerships The Company remains dedicated to
energy storage solutions and digitalisation, that open access to innovative technologies maintaining the highest safety standards,
is intended to further boost operational and drive generation capacity. We are aware achieving strategic objectives, and enhancing
efficiency and resilience. Ongoing gas-to- of the challenges that face us, including but operational and cost efficiencies throughout
power projects will also contribute to the not limited to, complex regulations, substantial all business units.
Ijen Geothermal, East Java
Page 26
2025 Management Business Company Corporate Sustainability
24 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Business
Activities
Ijen Geothermal, East Java
Page 27
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 25
26 Business Activities
28 Asset Information
Page 28
2025 Management Business Company Corporate Sustainability
26 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Business
Activities [OJK C.4] [GRI 2-6]
Medco Power’s portfolio combines long-term Company commence operations of the As the nature of geothermal development
contracted Independent Power Producer 39 MW Add-On Power Plant, operated is capital-intensive and technically complex,
(IPP) assets with growing clean and by subsidiary – Energi Listrik Batam (ELB). project execution is carried out using
renewable capacity and an Operation and The project transforms the existing 70 MW disciplined capital deployment and phased
Maintenance (O&M) services platform, open-cycle facility into a 109 MW combined- development strategies. For the first unit
providing operational flexibility, and strategic cycle plant by using exhaust heat from of Ijen Geothermal which commenced
resilience. The Company owns and operates existing gas turbines to generate additional in 2025, 35 MW will be delivered to the
a total of 15 Gas to Power, Geothermal, power through a steam turbine. The upgrade Java electricity grid. This will enhance grid
Solar PV and other Renewables IPPs enhances fuel efficiency and plant economics stability and provide power to approximately
(both operating and in the pipeline) and by generating additional output without 85,000 households. Subsequently, when
provides O&M services to six power plants proportional increases to fuel consumption, fully rolled out, the plant will produce up to
across Indonesia. thereby enhancing operational performance. 110 MW of power. The plant will also avoid
Environmental performance is also improved projected emissions of up to 210,000 tCO2e
In the 2025 Financial Year, the Company as emissions from the new plant is expected per year.
achieved many of its targets. Total power to be cut from 0.8 tons of CO2 per MWh
sales reached 4,371 GWh, with renewables to 0.5 tons. More than just portfolio diversification,
contributing 25%, up from 20% in 2024. Geothermal represents a strategic
This growth reflects improved asset Expansion: Independent evolution toward sustainable and resilient
availability and execution discipline, as well power generation.
as commitment towards a more balanced
Power Producer Growth
clean and renewable-focused energy mix. & Partnerships Diversification:
Health & Safety Performance Over the years, the Company continued Into Other Renewables
Health and safety performance continues to build its business and expand its portfolio
In line with the global and national energy
to be a top priority. In 2025, the Company through various domestic and international
transition momentum, the Company
recorded zero lost-time incidents and partnerships with companies such as PT
continues to explore and develop other
occupational illnesses, achieved a Level 3 PLN (Persero), Telkom and Singtel. A joint
renewable energy opportunities as part of
(Independent) safety culture maturity rating, venture with Kansai Electric Power Company
its broader portfolio diversification strategy.
and achieved 56 million cumulative safe was further established in 2020 to collaborate
These initiatives are pursued selectively
man hours. on gas to power and O&M platforms.
to ensure alignment with long-term
To drive growth, the Company also began demand outlook, regulatory direction,
The Company also maintained SMK2 and sustainable value creation.
and SMK3 certifications, as well as to collaborate with external partners on
ISO 45001 (Occupational Health and various IPP projects. One notable example
Rather than pursuing rapid expansion, the
Safety, ISO 9001 (Quality Management was the 275 MW Riau Combined Cycle
Company adopts a disciplined and phased
Systems), and ISO 14001 (Environmental Power Plant, a joint venture between
approach in growing its renewable portfolio,
Management Systems). Medco Power and the RATCH Group,
ensuring that each development complements
which commenced in 2022. This phase
its existing generation mix and strengthens
Foundation: Gas to Power marked the strengthening of Medco Power’s
overall portfolio resilience. This measured
operational scale and partnership-driven
diversification underscores Medco Power’s
The Company’s journey and strategic growth model.
commitment to sustainability while maintaining
foothold in the power sector began with
operational and financial prudence.
gas-fired generation assets, starting with Transition: Strategic
its first two gas turbine power plants in
Batam in 2004 and 2005 with MEB and
Expansion into Geothermal Currently, Medco Power’s Renewable Energy
portfolio consists of Solar Photovoltaic (PV)
DEB, respectively. These initial gas to power Building on its strong foundation in reliable plants as well as Mini-hydro plants. These
projects established the Company’s foundation gas-fired generation, the Company strategically consist of PPP, BJI, MSBT, and MPSOS.
as a reliable independent power producer, expanded into geothermal energy as part
supporting industrial and regional electricity of its long-term commitment to sustainable The Company’s latest Solar PV Power
demand through stable and efficient power development. This move reflects a Plant, located in Karangasem in East Bali,
power supply. measured transition toward cleaner energy commenced commercial operations in 2025.
while maintaining system reliability. With an output of 25 MWp, it is the largest
Today, with a total of six gas-fired plants such utility scale Solar PV in Bali. The plant’s
(see details in table below), gas to power With two geothermal assets currently in estimated annual output of 50 GWh serves the
remains the backbone of Medco Power’s operation, Sarulla (COD in 2017) and Ijen energy needs of around 42,000 households.
portfolio, providing dependable and flexible (COD in 2025), and a further two plants, In terms of its contribution to going green,
generation that supports system reliability Bonjol and Samosir, currently in development, the plant is expected to avoid a projected
and complements the increasing integration the Company has established a solid presence 840,000 tons of CO2 emissions over its
of renewable energy into the power mix. in renewable baseload generation, which operational lifetime.
offers stable and non-intermittent power
In line with our net-zero goals, the Company supply compared to other renewable Ongoing Solar PV expansion serves to
has committed its resources to ensuring that sources. The Company’s move into strengthen the Company’s renewable
its natural gas power plants, already the Geothermal demonstrates its support of diversification strategy while supporting
cleanest form of fossil fuel, operate as cleanly Indonesia’s decarbonisation agenda and Indonesia’s decarbonisation pathway under
and efficiently as possible. 2025 saw the commitment to energy security. long-term contracted structures.
Page 29
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 27
Strengthening: Operations Such expansions enhance recurring execution capabilities to ensure long-term
fee-based income streams and reinforces value creation. This will be exercised in
& Maintenance as a Medco Power’s positioning as an IPP upcoming projects such as Ijen Unit 2 and 3,
Platform Enabler and O&M company of choice. geothermal exploration in Bonjol and
Beyond developing and owning power Samosir, and the advancement of Bulan
assets, the Company also provides Operation Future Development Solar PV as a scalable renewable platform.
and Maintenance (O&M) services to a total These and existing projects will be
In June 2025, PLN, Indonesia’s state
of six power plants across Indonesia. This marked by a strong culture of efficiency
utility officially released to the public the
operational expertise enables the Company and cost consciousness, and driven by
long-anticipated new Electricity Supply
to maintain high standards of plant reliability, people, organisational capabilities and
Business Plan – “2025–2034 RUPTL”.
efficiency, and lifecycle performance. strategic partnerships.
The new plan calls for a considerable
amount of investment in new power Since its inception, the Company has
The O&M platform serves as a key
generation (69.5 GW), with a focus on demonstrated its ability to continually
differentiator, positioning the Company
new and renewable energy (42.6 GW). evolve in a structured and progressive
not only as a power producer but also as a
This is in line with Medco Power’s existing manner – beginning with gas-fired
capable operator with comprehensive asset
strategic plans to support Indonesia’s generation, expanding through IPP
management capabilities. This strength
growing energy requirements, and move developments and partnerships,
supports operational excellence across
towards greater sustainability. transitioning into geothermal, and today,
existing assets while enhancing readiness
for future multi-technology developments. selectively diversifying into other renewable
In 2026 and beyond, the Company will
initiatives. Supported by strong O&M
continue its transformation journey to
In 2025, the Company continued to build on capabilities, Medco Power is well positioned
become the most reliable power company
its O&M services portfolio with the COD of as a reliable, diversified, and transition-ready
of choice. Growth will be pursued with
the second and final 50 MW Unit of Timor-1 power platform for Indonesia’s evolving
disciplined capital allocation, rigorous
Coal-Fired Steam Power Plant (CFSPP) energy landscape.
project evaluation, and strengthened
and 2x50 MW Sulut-1 CFSPPs units.
ELB Gas-fired, Riau Islands
Page 30
2025 Management Business Company Corporate Sustainability
28 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Asset
Information
Gas-Fired
Asset Asset Entity Location Ownership Status
MEB PT Mitra Energi Batam Batam, • PT Medco Energi Menamas 54% Operating
Riau Islands • Medco Power 10%
• YPK PLN 6%
• PT PLN Batam 30%
DEB PT Dalle Energy Batam Batam, • PT Medco Kansai Power Operating
Riau Islands Indonesia 79.99%
• PT PLN Batam 20%
• PT Dalle Energy 0.01%
ELB PT Energi Listrik Batam Batam, • PT Universal Batam Energy Operating
Riau Islands 95%
• PT Universal Gas Energy
1.51%
• Medco Power 3.49%
EPE PT Energi Prima Elektrika Prabumulih, • PT Medco Kansai Power Operating
South Sumatra Indonesia 92.5%
• PT PLN Enjiniring 7.5%
MPE PT Multidaya Prima Elektrindo Palembang, • PT Medco Kansai Power Operating
South Sumatra Indonesia 85%
• PT PLN Enjiniring 15%
MRPR PT Medco Ratch Power Riau Pekanbaru, • PT Medco Power Sentral Operating
Riau Sumatera 51%
• RH International (Sgp)
Corporation Pte., Ltd. 49%
Geothermal
Asset Asset Entity Location Ownership Status
Sarulla Sarulla Operations LTD Sarulla, • Medco Power 18.9975% Operating
North Sumatra • INPEX 18.2525%
• Itochu 25%
• Kyushu Electric Power Co. 25%
• Ormat International 12.75%
Ijen PT Medco Cahaya Geothermal Banyuwangi, • PT Medco Geothermal Operating
East Java Indonesia 51%
• PT Ormat Geothermal
Power 49%
Bonjol PSPE PT Medco Bonjol, • Medco Power 49% Exploration
Geothermal Sumatera West Sumatra • PT Medco Geothermal
Indonesia 51%
Samosir PSPE PT Medco Power Samosir, • PT Medco Geothermal Exploration
Geothermal Energi North Sumatra Indonesia 99.92%
• PT Medco Geothermal
Nusantara 0.08%
Page 31
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 29
Solar PV & Other Renewables
Asset Asset Entity Location Ownership Status
Pusaka Mini-Hydro PT Pembangkitan Cianjur, • Medco Power 99.99% Operating
Pusaka Parahiangan West Java • PT Dalle Panaran 0.01%
Cibalapulang Mini-Hydro PT Bio Jatropha Indonesia Cianjur, • PT Sangsaka Agro Lestari 99.10% Operating
West Java • PT Sangsaka Hidro Selebes
0.10%
Sumbawa Solar PV PT Medcopower Sumbawa, • PT Medcopower Operating
Solar Sumbawa West Nusa Energi Baru 50%
Tenggara • PT Amman Mineral
Internasional 50%
East Bali Solar PV PT Medcosolar Bali Timur East Bali, • Medco Power 51% Operating
Bali • Solar Philippines Power
Project Holdings, Inc 49%
West Bali Solar PV PT Medco Solar Bali Barat West Bali, • Medco Power 51% Development
Bali • Solar Philippines Power Project
Holdings, Inc 49%
Teknologi Data Infrastruktur PT Teknologi Data Infrastruktur Batam, • PT Telkom Data Ekosistem Construction
Riau Islands 61.08%
• Nxera ID Pte. Ltd. 35.63%
• Medco Power 3.28%
Medco Pasifik Solar Transmisi PT Medco Pasifik Batam, • Medco Power 99.90% Development
Solar Transmisi Riau Islands • PT Medco Solar Pasifik 0.10%
Medcopower Transportasi Listrik PT Medcopower Jakarta • PT Medcopower Energi Baru 99% Operating
Transportasi Listrik • Medco Power 1%
Operation & Maintenance
Asset Asset Entity Location Ownership Status
TJBPS PT TJB Power Services Jepara, Medco Power 50% Operating
Central Java
Sarulla PT Medco Geothermal Sarulla North Tapanuli, Medco Power 62% Operating
North Sumatra
Riau PT Medcopower Tenayan, Riau Medco Power 62% Operating
Servis Indonesia
Sulut-1 Unit 1 & 2 PT Medco Power Energi Bolaang Medco Power 100% Operating
Services Mongondow,
North Sulawesi
Timor-1 Unit 1 & 2 PT Medco Power Energi Kupang, East Medco Power 100% Operating
Services Nusa Tenggara
Ijen PT Medco Power Ijen, East Java Medco Power 60% Operating
Geothermal Services
Page 32
2025 Management Business Company Corporate Sustainability
30 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Company
Profile
The Energy Building, Jakarta
Page 33
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 31
32 Company History
34 Medco Power in Brief
35 Vision, Mission, and
Corporate Values
36 Board of Commissioners Profile
37 Board of Directors Profile
38 Financial Highlights
40 Operational Highlights
42 Share Information
43 Corporate Data
44 Other Securities Information
Page 34
2025 Management Business Company Corporate Sustainability
32 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Company History
From its beginnings as an Independent Power Producer relying
on conventional power generation activities, Medco Power
has, over the short span of 21 years, transformed into one of
Indonesia’s key clean and renewable power players.
2004 – 2006 2013 – 2017 2020 – 2022
A Cornerstone of Expanding into New Building Up Strategic
Indonesia’s Power Market Markets and Clean and Partnerships
Medco Power, an Independent Renewable Energy Medco Power strengthened its
Power Producer (IPP) and provider Medco Power expanded its strategic alliances with domestic and
of Operation and Maintenance footprint into new regions, international partners, including PT
(O&M) services, was set up to including Sumatra and West Java, PLN (Persero), Telkom, Singtel, and
provide reliable and efficient energy, while strengthening its clean Kansai Electric Power Company. A key
and support national energy needs. and renewable energy portfolio. milestone was the establishment of a
Marking MedcoEnergi Group’s entry In 2013, the Company signed joint venture with Kansai to collaborate
into the power generation sector, the PPAs for the Cibalapulang (9 MW) on gas to power and O&M platforms.
Company commenced commercial and Cianjur (9 MW) mini-hydro
operations of MEB and DEB in the During this period, the Company
projects, as well as the 110 MW expanded its renewable portfolio
strategic industrial hub of Batam in Ijen Geothermal project, marking
the Riau Islands, and secured the through the construction and COD
a significant step into renewable of its first Solar PV project in Sumbawa
O&M tender for TJB Power Services energy development.
in Jepara. (26 MWp) for Amman Mineral, signed
The Company also enhanced its the PPA for Bali Solar PV, and participated
gas to power operations through in the Indonesia–Singapore Pilot Solar
2007 – 2012 the COD of the MEB Combined PV Import Project. In parallel, Medco
Power strengthened its gas platform
Strengthening the Cycle (20.6 MW) in 2014 and the
with the COD of the 275 MW Riau
ELB 70 MW power plant in 2015,
Gas Platform and further increasing efficiency and Combined Cycle Power Plant.
Early Diversification capacity. In 2017, Medco Power
signed the PPA for the PLTGU
Medco Power continued to
Riau project, expanding its 2023 – 2024
strengthen its gas to power
platform, primarily in Batam.
large-scale gas platform. Solidifying Its Position
The Company reached Commercial in Renewables
Operation Date (COD) of TM 2500
(20 MW) at 2008, secured EPC 2018 – 2019 In 2023, Medco Power and its
consortium partners obtained
and O&M contracts for the 24 MW Strengthening Conditional Approval from Singapore’s
Gas Engine project owned by Financial Foundation Energy Market Authority (EMA) for a
PLN Batam (2011), and signed cross-border solar power project. This
the ELB 70 MW PPA (2012). Medco Power strengthened its
financial foundation through the was followed in 2024 by the issuance
The DEB Combined Cycle project, of a Conditional License, marking
which was initiated during this issuance of several batches of
conventional and shariah bonds, further regulatory progress for the
period, subsequently achieved project’s development.
COD in 2014, while expansion as well as newly secured O&M
of MEB commenced. contracts. The company’s During the same period, Medco Power
financial position was further commenced construction of the East
In 2010, Medco Power expanded bolstered by the award of the Bali Solar PV project and achieved
its footprint through the acquisition Geothermal Preliminary Survey Mechanical Completion of the Ijen
of EPE and MPE (12 MW each) and Exploration Assignment for Geothermal project. In 2024, the
in South Sumatra. The Company Bonjol Geothermal in 2019. Company also conducted a wind
also initiated the development and power feasibility study in West
stakeholder engagement process Sumbawa supported by the United
for the Sarulla Geothermal project, States Trade and Development
marking its initial strategic step Agency (USTDA) and was awarded
into geothermal power. the Geothermal Preliminary Survey
and Exploration (PSP-E) license for
Samosir, North Sumatra.
Page 35
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 33
Landmark Developments
Ijen Geothermal (2025)
2025
Ramping Up Clean and
Renewable Energy
In 2025, Medco Power accelerated
its efforts into delivering new clean
and renewable energy capacity. Located in Bondowoso, East Java, Ijen Geothermal is the first
Commercial operations commenced geothermal project in the region. Its first unit features a capacity of
for the Ijen Geothermal and the East
35 MW and reduces CO2 emissions by up to 210,000 tons annually.
Bali Solar PV, capable of powering
approximately 85,000 and 42,000
households respectively. The 39 MW
East Bali Solar PV (2025)
ELB Expansion also began commercial
operations, enhancing efficiency and
output from existing gas infrastructure.
During the same year, the Company
completed met mast installation for
the Sumbawa wind project, advancing
its wind energy development pipeline.
Beyond power generation,
two O&M projects – Sulut-1 and
Timor-1 – also achieved COD in 2025,
further strengthening Medco Power’s
operational portfolio.
Located in Karangasem, Bali, this 25 MWp plant is the largest utility-
scale solar power plant in Bali, able to generate 50 GWh of electricity
annually. It also cuts more than 42,000 tons of CO2 each year.
ELB Expansion (2025)
Located in Tanjung Uncang, Batam, this former 70 MW open-cycle
facility was transformed into a 109 MW combined-cycle plant.
It channels exhaust heat from gas turbines into a steam turbine
to generate additional power, thereby increasing efficiency while
reducing carbon intensity.
Page 36
2025 Management Business Company Corporate Sustainability
34 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Medco Power
in Brief
Medco Power is a leading clean Independent Medco Power places the highest priority Other significant projects, including
Power Producer (IPP) and Operation & on the safety and health of its employees. Preliminary Survey and Exploration (PSP-E)
Maintenance (O&M) service company, In 2025, the Company recorded zero Bonjol Geothermal and Samosir Geothermal
committed to delivering reliable, efficient, and lost time incidents and achieved a 30% are also well underway. Preliminary exploration
sustainable energy solutions. As a subsidiary reduction in Tier 3 process safety events. of Bonjol Geothermal (60 MW) was completed
of MedcoEnergi (MEDC-IDX), the Company At the same time, Medco Power is also towards the end of 2025 and subsurface
plays an active role in Indonesia’s energy committed to the task of capturing studies of Samosir Geothermal (40 MW)
transition through a diversified portfolio long-term growth arising from an estimated are targeted to be completed in Q1 2026.
of clean and renewable power assets. 3,600 GW of renewable energy potential
in Indonesia, and the growing independent Our Four Business Pillars
In 2025, the Company recorded IPP power producer market. Medco Power’s business strategy is
Installed Capacity of 1,011 MW and power
anchored in its vision to be a Leading Clean
sales of 4,371 GWh through its Gas to Medco Power delivered significant
IPP and O&M service company of choice for
Power, Geothermal, Solar PV, and other milestones in 2025 by bringing various
investors, shareholders, partners, employees,
Renewables assets across Indonesia. projects to completion. The 35 MW Ijen
and the communities where it operates. Guided
The Company supplies electricity to the Geothermal Unit 1 reached its Commercial
by its mission to build long-term value through
national grid through state owned utility Operation Date (COD) in February 2025,
a portfolio of clean IPP, O&M, and sustainable
PLN, serves captive industrial customers, the 25 MW East Bali Solar PV reached
renewable energy businesses, the Company
and provides O&M services. Since 2020, COD in July 2025, and the 109 MW ELB
advances a balanced and disciplined growth
Medco Power has also partnered with Expansion project commenced operations
strategy. This strategy is implemented through
Kansai Electric Power Company on in November 2025, enhancing system
four core business pillars that reinforce
several Gas to Power and O&M projects, efficiency and capacity to support growing
operational excellence, portfolio resilience,
reinforcing its operational excellence and demand on Batam.
and sustainable value creation.
international collaboration.
Gas to Power
A vital part of Indonesia’s energy mix, the Company operates gas-fired plants that
deliver reliable and efficient power to the national grid to support energy security
and transition.
Geothermal
The Company’s geothermal operations utilise advanced technologies powered by
natural heat from beneath the earth’s surface to produce renewable electricity.
Solar PV & Other Renewables
The Company owns and operates solar PV and mini-hydro assets while actively
pursuing the development of additional solar PV and wind projects to generate more
sustainable and accessible energy from Indonesia’s abundant renewable sources.
Operation & Maintenance
As a dedicated business pillar, the Company provides comprehensive O&M services
to ensure reliable, efficient, and high performance power generation assets.
Page 37
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 35
Vision, Mission, and
Corporate Values [OJK C.1] [OJK F.1]
Vision
To be a leading clean Independent Power Producer and Operation &
Maintenance service company of choice for investors, shareholders,
partners, employees, and communities where we operate.
Mission
To build a long-term value with portfolio of clean Independent
Power Producer, Operation & Maintenance, and sustainable
renewable energy businesses.
Corporate Values
Professional
All employees must conduct themselves in a professional manner by:
• Being competent in their area of expertise.
• Having a “champion spirit”
• Always seeking self-improvement
• Having professional capabilities and knowing their limits
Ethical
All employees must conduct themselves in an ethical manner by:
• Conducting business fairly with high moral integrity
• Applying the highest ethical standards at all times
• Understanding and following the Company’s ethics and Good Corporate Governance policies
Open
All employees must make efforts to promote transparency by:
• Encouraging informality and openness in communication at all levels
• Building an environment of trust among employees and management
• Being open-minded in thought, behaviour and work
Innovative
All employees must cultivate a spirit of innovation by:
• Helping to build a culture of trailblazers
• Continuously searching for innovative solutions to achieve better, safer, and cost-effective outcomes
• Demonstrating intellectual and emotional maturity
Page 38
2025 Management Business Company Corporate Sustainability 36 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments Board of Commissioners Profile Amri Siahaan Darmoyo Doyoatmojo M. Teguh Pamuji President Commissioner Commissioner Independent Commissioner Nationality and Age: Indonesian, Born in 1965 Nationality and Age: Indonesian, Born in 1951 Nationality and Age: Indonesian, Born in 1957 Academic and Professional Qualifications: Academic and Professional Qualifications: Academic and Professional Qualifications: • Bachelor’s Degree in Mechanical • Bachelor’s Degree in Electrical Engineering, • Bachelor’s Degree in Law, Universitas Engineering, Bandung Institute of Bandung Institute of Technology (1975) Indonesia (1983) Technology (1989) • Master of Business Administration, • Master’s Degree in Law, Universitas • Master of Business Administration, University of Southern California (1990) Indonesia (2002) University of Leicester (2003) • Master of Science, Finance & Business Professional Experience/Career Background: Professional Experience/Career Background: Economy, University of Southern • Various positions including Secretary • Vice President, Government Affairs & California (1991) General, Ministry of Energy and Mineral Business Support, Premier Oil Indonesia Professional Experience/Career Background: Resources (1990–2018) (2011–2015) • Various managerial positions, including Appointment • General Manager Operations/Start-Up President Director and CEO, MedcoEnergi • Appointed since 2018 Manager, Tangguh LNG, BP Indonesia (1980–2011) (2008–2011) Appointment • Executive Assistant to COO, Atlantic LNG • Appointed since 2011 Trinidad & Tobago (2007–2008) • Vice President, “Semberah” Asset, VICO Indonesia (2004–2006) • Vice President, Supply Chain Management, VICO Indonesia (2001–2004) • Audit & Internal Control Manager, BP Indonesia (2001) Concurrent Positions: • Director & Chief Administrative Officer, MedcoEnergi Appointment • Appointed since 2017
Page 39
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 37
Board of Directors Profile
Eka Satria Femi Firsadi Sastrena Myrta Sri Utami Imron Gazali
President Director & Director & Chief Director & Chief Director & Chief
Chief Executive Officer Commercial and Business Financial Officer Operating Officer
Development Officer
Nationality and Age: Indonesian, Nationality and Age: Indonesian, Nationality and Age: Indonesian, Nationality and Age: Indonesian,
Born in 1967 Born in 1972 Born in 1978 Born in 1971
Academic and Professional Academic and Professional Academic and Professional Academic and Professional
Qualifications: Qualifications: Qualifications: Qualifications:
• Bachelor’s Degree in Civil • Bachelor’s Degree in Economics, • Bachelor’s Degree in Architecture • Bachelor’s Degree in Chemical
Engineering, Bandung Institute of Universitas Trisakti (1995) Engineering, Parahyangan Engineering, Bandung Institute
Technology (1990) • Graduate Diploma, University Catholic University (2002) of Technology (1995)
• Master’s Degree in of Berkeley, Ext (1998) • Master’s Degree in Business • Master of Engineering
Management – Finance, • Master of Business Administration, Prasetiya Mulia in Chemical Engineering,
Universitas Indonesia (2000) Administration, Lincoln Business School (2006) Texas A&M University (1998)
• BP Executive Programme – Major University (1999) Professional Experience/ Professional Experience/
Project Leaders, Massachusetts Professional Experience/ Career Background: Career Background:
Institute of Technology (MIT) Career Background: • Vice President, Corporate • Senior VP, Onshore Asset, PT
United States of America (2004) • Head of Corporate Portfolio Planning & Investor Relations, Medco E&P Indonesia (2021–2022)
Professional Experience/ Management, MedcoEnergi MedcoEnergi (2019–2023) • Advisor to COO – Lead of Special
Career Background: (2015–2017) • Senior Manager, Corporate Task Forces, MedcoEnergi
• Asset Development Director, • Head of Commercial, PT Medco Planning & Investor Relations, (April–December 2020)
MedcoEnergi (2011–2017) E&P Indonesia (2012–2015) MedcoEnergi (2018–2019) • Commercial Director – Copper
• Vice President, Project Capability, • Vice President – Strategic • Director, PT Mitra Energi Gas Smelter Project, Amman Mineral
MedcoEnergi (2008–2010) Planning, Medco US, LLC, USA Sumatra – a subsidiary of (2016–2020)
• Project Manager, Major Projects, (2010–2012) MedcoEnergi (2018–2020) • Director – Jawa-1 IPP Tender Project,
BP Indonesia (2000–2008) • Managing Consultant, Wood Appointment Medco Power Generation (2015–2016)
• Project Manager, Tangguh LNG Mackenzie Asia Pacific, • Appointed since 2023 • Corporate Secretary and Executive
Gas Processing, BP Indonesia Singapore (2005–2010) Assistant to President Director &
(1989–2000) • Associate Director for Financial CEO, MedcoEnergi (2011–2016)
• Project and Engineering Advisory Services, • VP Commercial – 7 Major Projects,
Professional in the development PricewaterhouseCoopers, MedcoEnergi (2008–2011)
of offshore and onshore Jakarta and Singapore • Deputy Project Director – Sarulla
infrastructure development (2000–2005) Geothermal Project, Medco Power
projects for E&P Indonesia, • Senior Analyst of Corporate (2008–2010)
Atlantic Richfield Company/ARCO Planning and Investment, PT • Director Power Development –
(1990–2000) Astra International Tbk Indonesia Market, BP Global
Appointment (1995–2000) Power Singapore (2004–2008)
• Appointed since 2017 Appointment • Commercial Analyst – LNG to Java
• Appointed since 2017 Project and Tangguh LNG Project,
BP Indonesia (2000–2004)
• Planning Analyst Operation &
Development – ONWJ PSC,
ARCO Indonesia (1998–2000)
Appointment
• Appointed since 2022
Page 40
2025 Management Business Company Corporate Sustainability 38 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments Financial Highlights Consolidated Statement of Financial Position (Expressed in millions of Rupiah) Description 2023 2024 2025 Total Current Assets 3,720,233 3,668,149 4,148,548 Total Non-Current Assets 12,208,995 14,743,483 16,196,944 Total Assets 15,929,228 18,411,632 20,345,493 Total Current Liabilities 3,225,696 3,964,511 2,870,640 Total Non-Current Liabilities 6,150,635 7,802,204 10,510,749 Total Liabilities 9,376,331 11,766,716 13,381,389 Total Equity 6,552,897 6,644,916 6,964,104 Total Liabilities and Equity 15,929,228 18,411,632 20,345,493 Consolidated of Profit and Loss and Other Comprehensive Income (Expressed in millions of Rupiah) Description 2023 2024 2025 Revenues 4,321,575 3,271,302 2,931,986 Cost of Revenues (3,202,582) (2,077,507) (1,442,458) Gross Profit 1,118,993 1,193,794 1,489,527 Operating Expenses (564,387) (610,164) (683,506) Other Income 139,338 167,406 211,099 Other Expenses (43,360) (171,910) (24,931) Profit from Operations 691,025 579,127 1,053,037 Interest Income 64,130 60,246 113,895 Finance Costs (592,734) (686,855) (792,382) Profit (Loss) Before Income Tax Expenses 162,422 (47,482) 374,550 Income Tax Expense (149,848) (60,907) (131,410) Profit (Loss) for the Year 12,574 (108,389) 243,140 Attributed to Non-Controlling Interests 179,598 154,544 225,949 Attributable to Shareholders of the Parent Entity (167,024) (262,933) 17,191
Page 41
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 39 Consolidated Statement of Cash Flows (Expressed in millions of Rupiah) Description 2023 2024 2025 Net Cash Provided from Operating Activities 905,311 707,922 997,188 Net Cash Used in Investing Activities (324,462) (590,669) (311,782) Net Cash Provided (Used in) Financing Activities (1,076,030) (373,505) (59,529) (Decrease) Increase Net in Cash and Cash Equivalents (495,181) (256,253) 625,876 Exchange Rate Differences (64,350) (2,320) 36,928 Cash and Cash Equivalents at the Beginning of the Year 2,510,894 1,951,363 1,692,791 Cash and Cash Equivalents at the End of the Year 1,951,363 1,692,791 2,355,595 Financial Ratios (Expressed in %) Description 2023 2024 2025 Return on Assets (ROA) 0.08 (0.59) 1.20 Return on Equity (ROE) 0.19 (1.63) 3.49 Revenues to Total Assets Ratio 27.13 17.77 14.41 Total Liabilities to Equity Ratio 143.09 177.08 192.15 Current Ratio 115.33 92.52 144.52 Interest Coverage Ratio 155.50 114.57 176.91 Debt to Equity Ratio 112.36 135.12 140.96
Page 42
2025 Management Business Company Corporate Sustainability
40 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Operational
Highlights
Power Generated Sales (GWh)
Plant Location Fuel-Type 2021 2022 2023 2024 2025
Gas-Fired IPPs
Mitra Energi Batam Riau Islands Gas 553 551 565 574 582
Dalle Energy Batam Riau Islands Gas 629 634 579 617 549
Energi Listrik Batam Riau Islands Gas 521 521 521 523 553
Energi Prima Elektrika South Sumatra Gas 71 73 69 72 62
Multidaya Prima Elektrindo South Sumatra Gas 74 74 75 75 73
Medco Ratch Power Riau Riau Gas – 1,285 1,544 1,418 1,458
Total Gas-Fired IPP 1,848 3,138 3,354 3,277 3,277
Geothermal
Sarulla North Sumatra Geothermal 791 757 702 715 686
Ijen Unit 1 East Java Geothermal – – – – 257
Total Geothermal 791 757 702 715 943
Solar PV & Other Renewables
Pusaka West Java Mini-Hydro 41 42 38 44 46
Cibalapulang West Java Mini-Hydro 38 33 21 31 43
Sumbawa West Nusa Solar PV – 23 40 42 38
Tenggara
East Bali East Bali Solar PV – – – – 24
Total Solar PV & 79 98 99 116 151
Other Renewables
Total Power Generated Sales 2,718 3,993 4,155 4,108 4,371
MRPR Gas-fired, Riau
Page 43
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 41
Power Capacity (MW)
Effective
Gross Capacity
Power Plant and O&M Ownership
Independent Power Producers (IPPs)
Installed
Mitra Energi Batam 42% 85
Dalle Energy Batam 48% 85
Energi Listrik Batam 43% 109
Energi Prima Elektrika 56% 12
Multidaya Prima Elektrindo 51% 12
Medco Ratch Power Riau 51% 275
Pusaka Mini-hydro 100% 9
Cibalapulang Mini-hydro 70% 9
Sarulla Geothermal 19% 330
Sumbawa Solar PV 50% 26
East Bali Solar PV 51% 25
Ijen Geothermal Unit 1 51% 35
Subtotal 1,011
Development
Ijen Geothermal Unit 2 & 3 51% 75
West Bali Solar PV 51% 25
Subtotal 100
Exploration
Bonjol PSPE Geothermal 100% ~60
Samosir PSPE Geothermal 100% ~40
Subtotal 100
Total IPPs 1,211
Operation & Maintenance
Installed
TJB Power Services 50% 1,320
Sarulla Geothermal 62% 330
Riau 62% 275
Sulut-1 Unit 1 & 2 100% 100
Timor-1 Unit 1 & 2 100% 100
Ijen Geothermal Unit 1 60% 35
Subtotal 2,160
Development
Ijen Geothermal Unit 2 & 3 60% 75
Subtotal 75
Total Operation & Maintenance 2,235
Total Gross Capacity 3,446
Page 44
2025 Management Business Company Corporate Sustainability
42 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Share
Information [OJK C.3]
Until the year ending December 31, 2025, or the date of submission of this data/information, the Company had not conducted an initial public
offering and had not traded its shares on any stock exchange.
Suspension of Share Trading and/or Delisting
Medco Power Indonesia is a company whose shares are not listed on the Indonesia Stock Exchange (IDX) or are non-public so that they have
never been subject to stock-trading sanctions in the form of temporary suspension of stock trading or delisting of shares.
Corporate Actions
In 2025, the Company did not undertake any corporate actions such as stock splits, stock mergers, the issuance of stock dividends and
bonus shares, and changes in the nominal value of shares.
Share Information
Shareholder Composition The composition of shareholders as of December 31, 2025, is as follows:
Share Ownership at January 1, 2024 Share Ownership at December 31, 2025
Shareholder Number of Ownership Nominal Value Number of Ownership Nominal Value
Shares (%) (Rupiah) Shares (%) (Rupiah)
PT Medco Energi Internasional Tbk 539,000,000 49.00 539,000,000,000 539,000,000 49.00 539,000,000,000
PT Medco Power Internasional 561,000,000 51.00 561,000,000,000 561,000,000 51.00 561,000,000,000
Total 1,100,000,000 100.00 1,100,000,000,000 1,100,000,000 100.00 1,100,000,000,000
Number of Shares
The Company has 1,100,000,000 shares. These are owned by PT Medco Power Internasional (51%; 561,000,000 shares) and PT Medco
Energi Internasional Tbk (49%; 539,000,000 shares). The Company’s shares are not listed on the Indonesia Stock Exchange and are not
traded to the public, as of the year ending December 31, 2025.
Majority and Controlling Shareholders
As of December 31, 2025, the major and controlling shareholders of the Company are PT Medco Power Internasional (51%) and PT Medco
Energi Internasional Tbk (49%).
Share Ownership Composition of the Board of Commissioners and Board of Directors
As of December 31, 2025, no members of the Board of Commissioners and Board of Directors has share ownership in the Company.
Chronology of Listing of Shares
As of December 31, 2025, the Company has not conducted an initial public offering of shares and listed its shares on the Indonesia Stock
Exchange or any other stock exchange.
Therefore, the Company does not provide information related to the chronology of share listing, number of shares, nominal value, and offering
price from the beginning of listing to the end of the financial year and the name of the stock exchange where the shares of the Issuer or
public company nor information related to stock splits, stock mergers (reverse stock), stock dividends, bonus shares and changes in the
nominal value of shares, implementation of convertible securities and implementation of capital additions and reductions.
Chronology of Other Securities Listing
The Company is an issuer of debt securities and sukuk that have been registered on the Indonesia Stock Exchange.
Page 45
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 43
Corporate
Data [OJK C.2] [OJK C.3] [OJK C.4] [GRI 2-1] [GRI 2-6]
Company Name PT Medco Power Indonesia
Date of Establishment January 28, 2004
Notarial Deed of Establishment of PT Medco Power Karimata No, 97 dated January 28, 2004 by
Legal Basis of Establishment
Notary Maria Theresia Suprapti, S.H.
Business Activity Electricity Generation and Operation and Maintenance Provider
Authorised Capital 2,000,000,000 shares with a nominal value of Rp1,000 per share.
Issued and Paid-Up Capital 1,100,000,000 shares with a nominal value of Rp1,000 per share.
• PT Medco Power Internasional 51.00%
Share Ownership
• PT Medco Energi Internasional Tbk 49.00%
• The Energy Building Floors 7th-8th, SCBD Lot 11A Jl. Jendral Sudirman Kav. 52–53,
Address
Kelurahan Senayan, Kecamatan Kebayoran Baru, Jakarta Selatan 12190, Indonesia
Corporate Secretary E-mail: corsec.mpi@medcoenergi.com Phone: +62-21 2995 3300
Website www.medcopower.co.id
In compliance with OJK Regulation No. 8/POJK.04/2015 regarding Public Company website.
Capital Market Supporting Institutions and Professions
In 2025, the Company is assisted as follows by capital market supporting institutions and professions in carrying out its business activities:
Supporting Institutions Name and Address
KAP Purwanto Susanti dan Surja
(member firm of Ernst & Young Global Limited)
Public Accounting Firm
Indonesia Stock Exchange Building Tower 2, 7th Floor Jl. Jend. Sudirman Kav. 52-53,
Jakarta, 12190
PT Pemeringkat Efek Indonesia (PEFINDO)
Rating Agency Setiabudi Atrium 8th Floor, Suite 809-810 Jl. H.R. Rasuna Said Kav. 62, Jakarta 12920, Indonesia
Tel: +62-21 521 0077
PT Kustodian Sentral Efek Indonesia (KSEI)
Indonesian Central Securities Depository Indonesia Stock Exchange Building Tower I, 5th Floor Jl. Jenderal Sudirman Kav. 52-53,
Jakarta 12190, Indonesia Tel: +62-21 515 2855
Bursa Efek Indonesia (BEI)
Stock Exchange Stock Exchange Building Tower 1 Jl. Jenderal Sudirman Kav. 52-53, Jakarta 12190, Indonesia
Tel: +62-21 0800 100 9000
Trustee PT Bank Mega Tbk
Menara Bank Mega, 16th Floor Jl. Kapten Tendean No. 12-14A, Jakarta, 12790
Association Membership [OJK C.5] [GRI 2-28]
The Company actively participates in industry associations related to its business activities. Through this engagement, Medco Power
contributes to policy dialogue and industry development, while enhancing institutional capabilities through collaboration and knowledge-
sharing initiatives.
As of December 31, 2025, the Company was involved in the following associations:
Association Name Membership Status
Asosiasi Produsen Listrik Swasta Indonesia (APLSI) Member
Asosiasi Pengusaha Indonesia (APINDO) Member
Kamar Dagang dan Industri (KADIN) Member
Indonesian Geothermal Association (INAGA-API) Member
Masyarakat Energi Terbarukan Indonesia (METI) Member
Masyarakat Ketenagalistrikan Indonesia (MKI) Member
Indonesia Corporate Secretary Association (ICSA) Member
Page 46
2025 Management Business Company Corporate Sustainability
44 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Other Securities
Information
The Company has issued debt securities in the form of bonds and sukuk, which are shown in the following table:
2021 2022 2023 2024 2025
Shelf Registered Public Offering Rupiah Bond I Year 2018 Tranche C with Interest Rate of 10.75% due on July 4, 2025
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 258,000,000,000 258,000,000,000 258,000,000,000 258,000,000,000
Unamortised Discounts (2,068,528,110) (1,570,501,721) (1,014,724,014) (394,498,125) PAID
Total Outstanding 255,931,471,890 256,429,498,279 256,985,275,986 257,605,501,875
Total Interest Expense 27,735,000,000 27,735,000,000 27,735,000,000 27,735,000,000
Rupiah Sukuk Wakalah I Year 2018 Tranche C with Interest Rate of 10.75% due on July 4, 2025
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 43,000,000,000 43,000,000,000 43,000,000,000 43,000,000,000
Unamortised Discounts (344,754,685) (261,750,287) (169,120,669) (65,749,688) PAID
Total Outstanding 42,655,245,315 42,738,249,713 42,830,879,331 42,934,250,312
Total Interest Expense 4,622,500,000 4,622,500,000 4,622,500,000 4,622,500,000
Rupiah Sukuk Wakalah II Year 2019 Tranche C with Interest Rate of 11.10% due on May 23, 2026
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 10,300,000,000 10,300,000,000 10,300,000,000 10,300,000,000 10,300,000,000
Unamortised Discounts (260,086,518) (212,443,649) (158,845,109) (98,546,401) (30,709,958)
Total Outstanding 10,039,913,482 10,087,556,351 10,141,154,891 10,201,453,599 10,269,290,042
Total Interest Expense 1,143,300,000 1,143,300,000 1,143,300,000 1,143,300,000 1,143,300,000
Rupiah Shelf Registered Sukuk Wakalah I Phase I Year 2022 Tranche A with Interest Rate 8.00% due on August 4, 2025
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo)
Total 280.000.000.000 280.000.000.000 280.000.000.000
Unamortised Discounts (2,336,465,132) (1,491,143,000) (572,377,808) PAID
Total Outstanding 277,663,534,868 278,508,857,000 279,427,622,192
Total Interest Expense 9,271,111,111 22,400,000,000 22,400,000,000
Rupiah Shelf Registered Sukuk Wakalah I Phase I Year 2022 Tranche B with Interest Rate 9.25% due on August 4, 2027
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 220,000,000,000 220,000,000,000 220,000,000,000 220,000,000,000
Unamortised Discounts (3,267,703,236) (2,685,235,664) (2,044,028,099) (1,338,156,799)
Total Outstanding 216,732,296,764 217,314,764,336 217,955,971,901 218,661,843,201
Total Interest Expense 8,422,638,889 20,350,000,000 20,350,000,000 20,350,000,000
Rupiah Shelf Registered Sukuk Wakalah I Phase II Year 2022 Tranche A with Interest Rate 9.00% due on December 30, 2025
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo)
Total 469,690,000,000 469,690,000,000 469,690,000,000
Unamortised Discounts (1,917,509,425) (1,992,861,024) (1,042,223,123) PAID
Total Outstanding 467,772,490,575 467,697,138,976 468,647,776,877
Total Interest Expense 117,422,500 42,272,100,000 42,272,100,000
Rupiah Shelf Registered Sukuk Wakalah I Phase II Year 2022 Tranche B with Interest Rate 9.50% due on December 30, 2027
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 130,310,000,000 130,310,000,000 130,310,000,000 130,310,000,000
Unamortised Discounts (531,990,575) (1,111,159,395) (878,325,660) (621,738,000)
Total Outstanding 129,778,009,425 129,198,840,605 129,431,674,340 129,688,262,000
Total Interest Expense 34,387,361 12,379,450,000 12,379,450,000 12,379,450,000
Page 47
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 45
2021 2022 2023 2024 2025
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche A with Interest Rate 8.55% due on January 18, 2027
Bond Rating A (Pefindo) A (Pefindo)
Total 175.995.000.000 175.995.000.000
Unamortised Discounts (590,672,159) (320,477,920)
Total Outstanding 175,404,327,841 175,674,522,080
Total Interest Expense 13,793,608,125 15,047,572,500
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche B with Interest Rate 9.50% due on January 18, 2029
Bond Rating A (Pefindo) A (Pefindo)
Total 494,490,000,000 494,490,000,000
Unamortised Discounts (3,261,453,025) (2,577,390,764)
Total Outstanding 491,228,546,975 491,912,609,236
Total Interest Expense 43,061,837,500 46,976,550,000
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche C with Interest Rate 10.00% due on January 18, 2031
Bond Rating A (Pefindo) A (Pefindo)
Total 79,515,000,000 79,515,000,000
Unamortised Discounts (769,724,277) (657,635,688)
Total Outstanding 78,745,275,723 78,857,364,312
Total Interest Expense 7,288,875,000 7,951,500,000
Rupiah Shelf Registered Sukuk Wakalah I Phase IV Year 2025 Tranche A with Interest Rate 7.75% due on February 7, 2028
Bond Rating A (Pefindo)
Total 125,035,00,000
Unamortised Discounts (334,390,114)
Total Outstanding 124,700,609,886
Total Interest Expense 8,801,943,021
Rupiah Shelf Registered Sukuk Wakalah I Phase IV Year 2025 Tranche B with Interest Rate 9.00% due on February 7, 2030
Bond Rating A (Pefindo)
Total 816,955,000,000
Unamortised Discounts (4,299,801,226)
Total Outstanding 812,655,198,774
Total Interest Expense 66,786,071,250
Rupiah Shelf Registered Sukuk Wakalah I Phase IV Year 2025 Tranche C with Interest Rate 9.50% due on February 7, 2032
Bond Rating A (Pefindo)
Total 208,010,000,000
Unamortised Discounts (1,606,971,570)
Total Outstanding 206,403,028,430
Total Interest Expense 17,949,529,583
Rupiah Shelf Registered Bons I Phase I Year 2025 Tranche A with Interest Rate 8.75% due on July 1, 2030
Bond Rating A (Pefindo)
Total 300,000,000,000
Unamortised Discounts (3,334,963,464)
Total Outstanding 296,665,036,536
Total Interest Expense 13,343,750,000
Rupiah Shelf Registered Bons I Phase I Year 2025 Tranche B with Interest Rate 9.25% due on July 1, 2032
Bond Rating A (Pefindo)
Total 200,000,000,000
Unamortised Discounts (3,212,659,869)
Total Outstanding 196,787,340,131
Total Interest Expense 9,404,166,667
Page 48
2025 Management Business Company Corporate Sustainability
46 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Page 49
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 47
48 Implementing Good
Corporate Governance
49 General Meeting of Shareholders
50 Board of Commissioners
51 Board of Directors
53 Audit Committee
54 Nomination and
Remuneration Committee
56 Supply Chain
Management Committee
56 Sustainability & Risk
Management Committee
57 Corporate Secretary
58 Internal Audit and
Integrity Compliance
60 Appointment of
Public Accountant
60 Risk Management System
63 Internal Control System
63 Whistleblowing System
64 Business Ethics Guidelines
Page 50
2025 Management Business Company Corporate Sustainability
48 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Implementing Good Corporate Governance Governance Structure [GRI 2-9]
Good Corporate Governance (GCG) underpins the Company’s The Company’s governance structure is established in
business operations and is embedded across all aspects of its accordance with Law No. 40 of 2007 concerning Limited
activities. The Company’s governance framework is founded on Liability Companies as amended by Government Regulation
five core principles – Transparency, Accountability, Responsibility, in Lieu of Law No. 2 of 2022 on Job Creation (which has been
Independence, and Fairness – which support regulatory compliance, enacted as law pursuant to Law No. 6 of 2023 on the Enactment
enhance organisational performance, and safeguard the interests of of Government Regulation in Lieu of Law No. 2 of 2022 on
shareholders and other stakeholders. Job Creation as Law (Job Creation Law) (as amended from time
to time) (Company Law), the Company’s Articles of Association,
In alignment with its parent company, MedcoEnergi, the and the Guidelines for the Implementation of GCG, issued by
Company applies corporate governance principles through MedcoEnergi. The Company’s management structure comprises
strict adherence to applicable laws and regulations, while the General Meeting of Shareholders, the Board of Commissioners,
continuously striving to build trust, uphold its reputation, and and the Board of Directors. To support the effective implementation
create long-term value for stakeholders. The Company believes of GCG, the Company has also put in place supporting functions,
that strengthening the consistent implementation of governance which operate under the oversight of the Board of Commissioners
practices across all business units is essential to achieving and the Board of Directors.
sustainable growth and reinforcing stakeholder confidence.
Sustainability
& Risk Management
Committee Shareholder
Board of Commissioners
Audit Committee
Board of Directors
Nomination and
Remuneration
Committee
Internal Audit and Supply Chain
Corporate Secretary
Integrity Compliance Management Committee
Page 51
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 49
General Meeting of Shareholders
The General Meeting of Shareholders (“GMS”), as the highest decision-making body within our corporate structure, holds the authority to
decide on matters that are beyond the authority of the Board of Commissioners and the Board of Directors. Resolutions passed at the GMS
are implemented by the Board of Directors under the supervision and guidance of the Board of Commissioners.
Annual General Meeting of Shareholders for the 2024 Financial Year
On April 22, 2025, Medco Power circulated written resolutions in lieu of an Annual General Meeting of Shareholders (AGMS):
No. Resolution
To approve the annual report and financial statements for the financial year ending on December 31, 2024 and further accept
and ratify the Company’s annual report and financial statements for the financial year ending on December 31, 2024, as audited
1
by the public accounting firm KAP Purwantono, Sungkoto & Surja (Ernst & Young) as stated in Letter No. 00507/2.1032/
AU.1/02/0696-1/1/III/2024 dated March 28, 2025 with an unqualified opinion.
To approve and grant full release and discharge to the Commissioners and Directors of the Company for the supervisory and
2 management actions carried out during the 2024 financial year to the extent that such supervisory and management actions are
reflected in the balance sheet and profit and loss calculation as of December 31, 2024, and comply with laws and regulations.
To grant authority and power to the Company’s Board of Commissioners to appoint and determine the honorarium of a public
3
accountant to carry out the audit of the 2025 financial report.
4 To approve the determination of salaries and other allowances for members of the Company’s Board of Commissioners and
Board of Directors for 2025, which will be further regulated in separate documentation.
Annual General Meeting of Shareholders for the 2023 Financial Year
On June 4, 2024, Medco Power circulated written resolutions in lieu of an AGMS:
No. Resolution
To approve the annual report and financial statements for the financial year ending on December 31, 2023 and further accept and
ratify the Company’s annual report and financial statements for the financial year ending on December 31, 2023, as audited by the
1
public accounting firm KAP Purwantono, Sungkoto & Surja (Ernst & Young) as stated in Letter No. 00504/2.1032/AU.1/02/1175-4/1/
IV/2024 dated April 2, 2024 with an unqualified opinion.
To approve and grant full release and discharge to the Commissioners and Directors of the Company for the supervisory and
2 management actions they carried out during the 2023 financial year to the extent that such supervisory and management actions
are reflected in the balance sheet and profit and loss calculation as of December 31, 2023, and comply with laws and regulations.
To grant authority and power to the Company’s Board of Commissioners to appoint and determine the honorarium of a public
3
accountant to carry out the audit of the 2024 financial report.
4 To approve the determination of salaries and other allowances for members of the Company’s Board of Commissioners and
Board of Directors for 2024, which will be further regulated in separate documentation.
Page 52
2025 Management Business Company Corporate Sustainability
50 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Board of Commissioners Duties and Responsibilities of the BOC
The Board of Commissioners (BOC) serves as the Company’s The duties and responsibilities of the BOC are as follows:
principal supervisory authority, entrusted with the exercise of general
Providing Oversight and Supervising the Board of Directors
and specific oversight functions in strict accordance with the
1. Supervising the management of the Company by the
Company’s Articles of Association. In accordance with the Company
Board of Directors, and approving and ratifying the
Law, the BOC fulfils its mandate not only as a supervisory body, but
Company’s work plan and budget.
as a strategic governance partner, empowered to provide counsel,
2. Ensuring the Board of Directors complies with laws
strategic direction, and constructive recommendations to the Board
and regulations.
of Directors in the pursuit of the Company’s long-term objectives.
3. Providing opinions and suggestions to the Board of Directors
The BOC’s supervisory mandate encompasses a broad and and supporting staff regarding the management of the
consequential spectrum of governance responsibilities. These Company. These opinions and suggestions may be provided
include rigorous oversight of the financial reporting process to at joint meetings of the BOC and Board of Directors.
ensure accuracy, transparency, and integrity in all disclosures made 4. Conducting research and reviewing reports provided by
to stakeholders. The BOC further exercises oversight of the Company’s the Board of Directors and management.
risk management framework and internal control systems, ensuring 5. Reporting to the GMS the results of their supervision of
that appropriate safeguards are in place to identify, assess, and the performance of the Board of Directors.
mitigate risks that may affect the Company’s operational and 6. Proposing to the GMS a competitive remuneration
financial resilience. system for compensating members of the BOC
and Board of Directors.
In addition, the BOC maintains active oversight of audit activities
conducted by the Internal Audit and Integrity Compliance division, Ensuring Good Corporate Governance
as well as those carried out by the external auditor, reinforcing a 1. Reviewing the effectiveness of the internal control system
culture of accountability and sound governance at every level of by assessing the competence and number of its employees,
the organisation. Underpinning all of these responsibilities is an the scope of their duties and authority and the independence
unwavering commitment to ethical values, a cornerstone of the of the internal auditor.
Company’s corporate identity and long-term sustainability. 2. Supervising the implementation of good corporate governance.
3. Monitoring, reviewing and approving the Annual Report and
Board Composition
Sustainability Report to ensure integrity of content.
The BOC comprises three members with different backgrounds,
academic qualifications, experience, knowledge, and skills. Maintaining Independence
This diverse yet balanced composition gives the BOC effective All members of the BOC shall maintain independence, be free from
oversight and authority to advise and supervise the Company conflicts of interest, and perform their duties in good faith, with
and its Board of Directors. due care and responsibility, in compliance with applicable laws
and regulations.
Skills and Experience
Collectively, the board’s unique set of skills and experience gives Meetings
them a valuable edge for strategic oversight. To ensure the Board is In accordance with the Company Law and the Company’s Articles
apprised on the latest developments related to the business, industry, of Association, the BOC met nine times in 2025. The attendance of
and sustainability matters, members are encouraged to regularly each Commissioner is as follows:
attend and engage in industry and sustainability-related events.
No. Name Meetings Attendance %
Work Guidelines and Code of Ethics
1 Amri Siahaan 9 9 100
In the performance of its duties and responsibilities, the BOC acts in
full compliance with the Company Law and the Company’s Articles 2 Darmoyo Doyoatmojo 9 9 100
of Association. The BOC is further governed by “Work Guidelines” 3 M. Teguh Pamuji 9 9 100
and “Code of Ethics”, the latter of which applies to all
Commissioners and committees supporting the BOC in the
execution of their respective functions and responsibilities. Performance Assessment of the Audit Committee and
Nomination and Remuneration Committee
Duties and Responsibilities of the President Commissioner Performance assessment of the Audit Committee and the
The duties and responsibilities of the President Commissioner are Nomination and Remuneration Committee is regularly conducted
as follows: by the BOC. This evaluation is based on progress against approved
work programmes and the annual work plan and budget, the quality
• Act as coordinator of the BOCs to ensure its effectiveness. of recommendations and input provided, and meeting attendance.
• Promote a culture of transparency and constructive dialogue In 2025, the BOC concluded that both committees performed
that allows a variety of views to be expressed. effectively and provided recommendations in accordance with
• Set appropriate board meeting agendas and ensuring sufficient their respective duties and responsibilities.
time is available for discussing all agenda items.
Page 53
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 51
Board of Directors Work Guidelines and Code of Ethics
The management of the Company's day-to-day operations falls The duties of the BOD are regulated by the Company Law and the
under the purview of the Board of Directors (BOD). Appointments Company’s Articles of Association. All members of the BOD are
of members of the BOD are made by the GMS. In accordance with subject to “Work Guidelines” and “Code of Ethics” in carrying out
the provisions outlined in the Company's Articles of Association, their duties and responsibilities.
the BOD is authorised to represent the Company both within and
outside the court. Each member of the BOD is expected to conduct Duties and Responsibilities
themselves with professionalism and independence, upholding the The BOD’s general duties and responsibilities include:
principles of integrity and prudence, and possessing the requisite
experience and capability to fulfil their management responsibilities 1. Managing and assuming full responsibility for the Company’s
within their respective domains. While discharging their duties, operations in accordance with the purpose and objectives set
the BOD operates under the supervision and guidance of the out in the Articles of Association.
Board of Commissioners. 2. Convening annual and extraordinary General Meetings of
Shareholders, as required under applicable laws and regulations
Board Composition and the Articles of Association.
3. Representing the Company both within and outside
The BOD comprises four members with varied backgrounds,
judicial proceedings.
academic qualifications, experience, knowledge, and skills. This
diverse yet complementary composition gives the BOD effective Meetings
oversight and authority to lead and steer the Company.
The policy governing meetings of the BOD is formulated in
Skills and Experience accordance with the Company Law and the Company’s Articles
of Association. Throughout 2025, the BOD convened on a
The board’s collective set of skills and experience equips them for
weekly basis.
effective decision-making. To ensure the Board is kept up to date
on developments surrounding business, industry and sustainability Joint Meetings between the BOC and the BOD
matters, members are encouraged to regularly attend and engage
in suitably related events. The Company views the relationship between the BOC
and the BOD as a necessary system of checks and balances,
In 2025, the Company’s BOD attended a total of 13 events, ensuring that each body carries out its duties and responsibilities
covering topics related to the energy industry, business strategy, with transparency, accountability, and mutual respect. This
sustainability, and risk management. These included both local relationship is reinforced through regular joint meetings between
and regional events, which gave the BOD a wider perspective the two Boards.
for leading the Company.
The specific duties and responsibilities of individual members of the BOD are as follows:
Name Position Duties and Responsibilities
Eka Satria President Director & • Managing the Company as a whole.
Chief Executive • Serving as coordinator, communicator, decision-maker, leader, manager, and executor
Officer in running and leading the Company.
Femi Firsadi Sastrena Director & • Ensuring the Company’s business development align with company’s vision and mission.
Chief Commercial • Building strategic alliances and driving innovation to support sustainability &
and Business ESG-aligned development.
Development Officer
Myrta Sri Utami Director & Chief • Organising and managing the Company’s finances.
Financial Officer • Making investment and financing decisions for the Company that support the
Company’s growth.
Imron Gazali Director & Chief • Overseeing operating assets operations to ensure high reliability, efficiency, and performance.
Operating Officer • Ensuring full compliance of regulations requirement through effective assets operation.
Page 54
2025 Management Business Company Corporate Sustainability
52 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
The BOC regularly reviews the Company’s corporate strategy, Performance Assessment of the BOC and the BOD [GRI 2-18]
and approves the corporate mission, vision, and strategy
Performance Assessment of the BOC
formulated by the BOD. The BOC also advises the BOD
Shareholders through the General Meeting of Shareholders
on strategic plans and implementation during joint meetings.
(GMS) have the right to evaluate the performance of the BOC.
In accordance with the Company Law and the Company’s Articles The performance assessment of the BOC is based on the
of Association, the BOC and the BOD are required to convene following criteria:
joint meetings at least once every four months. The attendance of
1. Frequency of attendance at BOC meetings and meetings
each member of the Board of Commissioners and the Board of
with committees.
Directors at joint meetings in 2025 is presented below:
2. Contribution to the Company’s supervision process.
Performance Assessment of the Supply Chain 3. Involvement in certain assignments.
4. Commitment to advancing the interests of the Company.
Management Committee
The BOD has one special committee, namely the Supply Chain In 2025, the BOC effectively carried out its supervisory role over the
Management (SCM) Committee, which reports to the BOD. The management of the Company, in accordance with established key
SCM Committee supports the BOD in matters pertaining to performance indicators.
procurement. The BOD assessed that, throughout 2025, the SCM
Performance Assessment of the BOD
Committee effectively carried out its duties and responsibilities
The performance of the BOD is evaluated by the BOC and shareholders,
and provided the necessary recommendations to support the
both individually and collectively, through the GMS. The evaluation
management of the Company.
of the BOD’s performance is based on the following criteria:
1. Budget realisation.
2. Operational performance, including production volume,
operational costs, additional production reserves, and
occupational health and safety quality.
3. Financial performance.
4. Sustainable growth.
In 2025, the BOD delivered strong performance by achieving its
intended targets and creating value for the Company, as measured
against each Director’s key performance indicators.
The BOC and the BOD Joint Meeting Attendance:
Name Position Total Joint Meetings Total Attendance Attendance (%)
Amri Siahaan President Commissioner 9 9 100%
Darmoyo Doyoatmojo Commissioner 9 9 100%
M. Teguh Pamuji Independent Commissioner 9 9 100%
Eka Satria President Director & Chief Executive Officer 9 9 100%
Director & Chief Commercial and Business 9 9
Femi Firsadi Sastrena 100%
Development Officer
Myrta Sri Utami Director & Chief Financial Officer 9 9 100%
Imron Gazali Director & Chief Operating Officer 9 9 100%
Page 55
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 53
Audit Committee Profile of Audit Committee Members
The Audit Committee serves as a key supporting organ
Ferry Sanjaya
of the Board of Commissioners (BOC), assisting with oversight
duties and functions. It conducts supervisory activities, provides Audit Committee Member
input to the Board of Directors (BOD) on financial information,
Indonesian citizen, born in 1971; domiciled in Jakarta;
internal controls, strategy, and management, and reviews
Bachelor of Accounting from STIE Jayakarta (1994); appointed as a
compliance with applicable laws and regulations.
member of the Audit Committee based on Decree of the Board of
Audit Committee Charter Commissioners No. 037/SKMPI/BOC/IV/2018 dated April 2, 2018;
previously served as Manager of Consolidation Report at Medco
Guided by its Charter – ratified April 2, 2018, per POJK Group (1992–2016); currently also serves as President Director of
No. 55/POJK.04/2015 – the Committee follows defined PT Indonesia Hijau Dwidaya (2016–present) and Finance Director
provisions on composition, structure, membership, tenure, of PT Indonesia Hijau Papan (2016–present).
duties, authority, and procedures. The Charter also establishes
a formal code of ethics for all members.
Hendry
Duties and Responsibilities
Audit Committee Member
The duties and responsibilities of the Audit Committee include,
but are not limited to, the following: Indonesian citizen, born in 1978; domiciled in Jakarta;
Bachelor of Economics (Accounting) from UNIKA Atmajaya
1. Monitor compliance with Indonesian capital market laws and (2001); appointed as a member of the Audit Committee based
other regulations governing Company business. on Decree of the Board of Commissioners No. 037/SK-MPI/BOC/
2. Review financial disclosures, including statements, projections, IV/2018 dated April 2, 2018; previously served as Managing
and reports. Partner of Public Accounting Firm Hendry & Kasman (2017–2020),
3. Provide independent opinions on management-auditor disputes. Chief Financial Officer of SIS Group of Schools (May–October
4. Assess adequacy of internal controls, especially financial reporting. 2016), Audit Senior Manager of PricewaterhouseCoopers Jakarta
5. Recommend independent auditors to BOC, evaluating (2014–2016) and Audit Senior Manager of Ernst & Young Jakarta
independence, scope, and fees. Audit Committee Composition (2010–2014); currently also serves as Managing Partner of Public
Accounting Firm Hendry, Ferdy & Rekan (2021–present).
Audit Committee Composition
Per POJK No. 55/POJK.04/2015, the Committee comprises at
least three members: Independent Commissioners and external
independents, with one possessing financial/accounting expertise.
The Composition of Audit Committee as of December 31, 2025:
Name Position Basis of Appointment Term of Office
M. Teguh Pamuji Chairman Board of Commissioners Decree No. 037/SK-MPI/ April 1, 2023 –
BOC/III/2023 dated March 31, 2023. March 31, 2028
Ferry Sanjaya Member
Hendry Member
Page 56
2025 Management Business Company Corporate Sustainability
54 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Profile of the Chairman of the Audit Committee • Advised BOC on public accountant selection, evaluating
independence, scope, and fees
M. Teguh Pamuji serves as an Independent Commissioner
• Monitored internal audit execution and Directors' follow-up
and chairs the Audit Committee. His full profile appears in the
on findings
Company Profile chapter of this annual report.
• Evaluated BOD’s risk management implementation
Independence Statement • Investigated accounting, selling, and financial reporting complaints
• Verified public accountants' independence and objectivity
The Audit Committee operates with full independence in fulfilling • Confirmed adequacy of external audits
its duties and responsibilities. Each member's independence is • Probed alleged errors in BOD’s decisions or implementation lapses
affirmed through these criteria: • Reported all review outcomes to the full BOC
• Assessed and advised on potential Company conflicts of interest
• No direct or indirect share ownership in the Company
• Safeguarded confidentiality of Company documents, data,
• No direct or indirect business ties to the Company's operations
and information
• No affiliation as an insider with a public accounting firm, legal
consultancy, appraisal service, or other provider of audit/non-audit,
assurance, appraisal, or consulting services to the Company in
the past six months Nomination and Remuneration Committee
• No concurrent service on the Audit Committee of a competing The Nomination and Remuneration Committee serves as a key
public company or issuer in the same sector during this period supporting organ of the BOC, assisting with the nomination and
remuneration of BOD and BOC members.
Meetings
Per POJK No. 55/POJK.04/2015, the Audit Committee convenes Duties and Responsibilities
at least quarterly. In 2025, four meetings were held.
Nomination Function
Total Total Attendance
No. Name 1. Recommend BOD and BOC composition to ensure diversity
Meetings Attendance (%)
in skills, experience, age, culture, and gender.
1 M. Teguh Pamuji 4 2 50 2. Advise on nomination policies, criteria, and performance
2 Hendry 4 4 100 evaluation frameworks for Directors and Commissioners.
3. Support BOC in evaluating Director and Commissioner
3 Ferry Sanjaya 4 4 100 performance against established benchmarks.
Remuneration Function
2025 Meeting Agenda are as follows:
1. Recommend remuneration structures and policies to the BOC.
1. Review of 2024 Audited Consolidated Financial Statements. 2. Assist BOC with performance-based remuneration evaluations
2. Review of 1st Half 2025 Consolidated Financial Statements. and adjustments for Commissioners and Directors.
3. Update on 2025 Internal Audit & Integrity Compliance
The Committee’s assessment process employs formal,
Programme, including anti-bribery system performance.
transparent, and non-discriminatory criteria, prioritising diversity
4. Kick-off for 2025 Year-End Financial Audit with External Auditor,
and equal opportunity.
Ernst & Young.
Key Activities in 2025 Meetings
In 2025, the Committee held one meeting with 100% attendance..
Serving as a vital organ supporting the BOC, the Audit Committee
executed these core functions:
Key Activities in 2025
• Reviewed financial disclosures to the public and regulators, • Recommended formulas for annual Director bonuses
including statements, projections, and reports • Provided guidance on BOD performance evaluation scales
• Assessed compliance with laws governing Company activities (overall and individual)
• Offered independent views on management-accountant • Suggested remuneration calculation frameworks for Directors
disputes over services and Commissioners
Page 57
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 55
Nomination and Remuneration Committee Composition
The composition of the Company’s Nomination and Remuneration Committee complies with POJK No. 34/POJK.04/2014, requiring at least
three members, including an Independent Commissioner as Chair. Other members may include Commissioners, external experts, or HR
executives reporting to the BOD.
The composition of the Nomination and Remuneration Committee as of December 31, 2025 is as follows:
Name Position Basis of Appointment Term of Office
M. Teguh Pamuji Chair Board of Commissioners Decree In accordance with the
No. 031/SKMPI/BOC/IV/2018 Articles of Association
Amri Siahaan Member
dated April 2, 2018
Darmoyo Doyoatmojo Member
The profiles of the three members of the Nomination and Remuneration Committee can be found in the Company Profile chapter of this
annual report.
Page 58
2025 Management Business Company Corporate Sustainability
56 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Supply Chain Management Committee By platform and function:
The Supply Chain Management (SCM) Committee assists the 1. Head of each platform (Gas to Power, Geothermal, Solar PV
Board of Directors in all matters pertaining to procurement. and other Renewables, O&M).
The SCM Committee held weekly meetings throughout the 2. VP of user related functions in procurement.
course of 2025.
Procedure for meetings of the SCM Committee:
Duties and Responsibilities
1. The committee and sponsor hold regular meetings once a week
The SCM Committee has the following duties and responsibilities: or as needed.
2. Each committee member can give approval outside the meeting
1. Evaluate contract strategy recommendations.
or appoint a substitute if unable to attend.
2. Evaluating recommendations for appointing successful bidders
3. Written resolutions can be circulated to replace meetings
and awardees.
if necessary.
Limits of Authority of the SCM Committee 4. The Committee Secretary will send meeting discussion
materials no later than one day before the meeting.
The SCM Committee evaluates and approves procurement 5. Functions involved in matters on the agenda are required to
processes that are worth more than USD100,000, or for critical attend the Committee meeting; they can attend via teleconference.
and immediate needs. 6. At the end of each tender discussion process, the approval
document will be circulated to be signed and uploaded to the
SCM Committee’s Organisational Structure
Company’s Business Process Management system.
In 2025, the Company maintained the structure of the
SCM Committee, as follows: Sustainability & Risk Management Committee
1. Chief Executive Officer as the Chair of the Committee. The Sustainability & Risk Management Committee (SRMC) was
2. Chief Financial Officer as a Member of the Committee. established to provide advice and support to the Board of Commissioners
3. Vice President Supply Chain Management as the Secretary in the oversight of group level risk management frameworks and
of the Committee. practices implemented across the Company and its subsidiaries.
Transactions sponsors consist of platform leaders and Duties and Responsibilities
function leaders, with the composition varying according to The duties and responsibilities of the SRMC include:
the procurement stage and organisational role as follows:
1. Issuing directives to align sustainability and risk management
By procurement stage: with the Company’s strategy.
2. Ensuring that an effective risk management system is in
1. Pre-operation stage: Director & Chief Commercial and Business place to mitigate risks to the Company’s sustainable growth.
Development Officer. 3. Reviewing and providing recommendations on key business
2. Operational stage: Director & Chief Operating Officer. and operational risks and key indicators.
Page 59
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 57
Corporate Secretary 5. Acting as liaison between the Company, the Financial Services
Authority (Otoritas Jasa Keuangan; OJK), the Indonesia Stock
The Corporate Secretary is a governance support function that Exchange (IDX), and other stakeholders.
serves as a liaison between the Company and external stakeholders. 6. Leading the preparation and writing of the annual and
The Corporate Secretary is also responsible for ensuring that sustainability report and ensuring that they are prepared in
material information relating to the Company and its business accordance with regulations set out by OJK.
activities is disclosed accurately and in a timely manner. 7. Reviewing and advising the Company and its subsidiaries on
corporate social responsibility and reporting to stakeholders.
Duties and Responsibilities
The duties and responsibilities of the Corporate Secretary, Corporate Secretary Profile
in accordance with POJK No. 35/POJK.04/2014, are as follows: The Company appointed Fajrah Lestari Akili as Corporate Secretary
1. Assisting the Board of Directors (BOD) and Board of based on the Decree of the Board of Directors No: SK-098/MPIHR/
Commissioners (BOC) in implementing corporate governance DIR/VII/2023 dated July 1, 2023.
in the Company and its subsidiaries pursuant to company law, The brief profile of the Corporate Secretary is as follows:
capital market regulations, and shareholder agreements by:
(i) preparing and organising the convening of BOD, BOC, Fajrah Lestari Akili
and shareholders regular and extraordinary meetings;
(ii) preparing the meeting agenda, reviewing and distributing Corporate Secretary
the meeting materials; (iii) documenting the meetings of Indonesian citizen, born in 1980; domiciled in Jakarta; Bachelor
the BOD, BOC, and shareholders; and (iv) taking and distributing of Laws, Faculty of Law, University of Indonesia; Master of
the meeting minutes. Notarial Law, Jayabaya University; appointed as Corporate
2. Providing input to the BOD and BOC on compliance and Secretary and Senior Manager Corporate Communication
legal matters relating to company law and capital market law. based on Decree of the Board of Directors of PT Medco Power
3. Disclosing information and managing capital market reporting Indonesia Number: SK-098 / MPI-HR / DIR / VII / 2023 concerning
to the public on the website, through press releases and the Change of Corporate Secretary of PT Medco Power Indonesia;
to the media. previously served as Senior Counsel at PT Medco Power Indonesia
4. Remaining up-to-date on regulatory developments in the 2010–2023.
capital market.
Corporate Secretary Trainings
In 2025, the Corporate Secretary took part in the following seminars organised by various institutions:
No. Training Date Organiser/Provider
1 Information Session on ESG Reporting January 22, 2025 Webinar, IDX
2 Submission of Periodic Financial Statements by Issuers February 18, 2025 IDX
3 The Role of Public Companies in Sustainable Finance March 13, 2025 IDX
4 Lean & Inspire Session: “Impactful Problem Solving and Decision Making” August 6, 2025 In-house training
5 A Risk-Based Approach to ESG: Building Resilient, Responsible Business September 1, 2025 ICSA
6 Material Transactions and Changes in Business Activities September 1, 2025 ICSA
7 GRI 102 & GRI 103: Climate Change and Energy Topic Standards September 3, 2025 Webinar, IDX
8 Sustainability and Climate Change Disclosure and Due Diligence October 9, 2025 In-house training
9 Climate Risks and Resilience October 15, 2025 In-house training
10 GHG and Methane Management October 20, 2025 In-house training
11 Cyber Security October 29, 2025 Indonesia Corporate Secretary
Association (ICSA)
Page 60
2025 Management Business Company Corporate Sustainability
58 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Internal Audit and Integrity Compliance The duties and responsibilities of the Internal Audit and Integrity
Compliance team related to integrity compliance are as follows:
Internal Audit and Integrity Compliance is a supporting organ of the
Board of Directors (BOD) that provides independent and objective 1. Creating and implement ethics and integrity compliance
recommendations and advice. It evaluates the adequacy of programmes across Medco Power and its subsidiaries; review
governance, risk management, and internal control processes and evaluate organisational compliance issues.
through a systematic and disciplined approach to support the 2. Developing, monitor, and assess code of conduct, policies,
effective implementation of comprehensive governance. procedures, and their implementation; analyse ethical violation
trends and produce recommendations and reports.
Internal Audit and Integrity Compliance Charter 3. Conducting anti-bribery and corruption audits of contractors;
The Internal Audit and Integrity Compliance Charter was ratified on educate contractors on compliance programmes.
April 4, 2018, and is prepared in accordance with POJK No. 56/ 4. Maintaining Company's ISO 37001 Anti-Bribery Management
POJK.04/2015 concerning the Formation and Preparation of the System certification.
Internal Audit Unit Charter. The Charter serves as a guiding 5. Conducting campaigns, deliver training, and promote ethics/
framework and code of ethics for all members of Internal Audit and compliance programmes for employees, subsidiaries, and
Integrity Compliance in the performance of their duties and business partners.
responsibilities. 6. Ensuring Directors, management, and employees (head office
and subsidiaries) complete annual Code of Conduct Adherence
Among others, the Charter governs the following aspects of the and Conflict of Interest declarations.
Internal Audit and Integrity Compliance function: 7. Ensuring compliance with rules/regulations, adherence to
Company policies/procedures, and alignment with the Code of
1. Structure and position.
Conduct across the organisation.
2. Duties and responsibilities.
3. Requirements and code of ethics.
4. Authority and accountability. Profile of the Manager of Internal Audit and Integrity Compliance
Duties and Responsibilities Nyimas Dewi Andriani, Manager of Internal Audit and Integrity
Compliance, reports directly to the President Director. Her profile
The duties and responsibilities of the Internal Audit and Integrity
is as follows:
Compliance team related to internal audit are as follows:
1. Prepare plans and conduct internal audits based on risk priorities Nyimas Dewi Andriani
and the Company’s risk profile. Manager of Internal Audit and Integrity Compliance
2. Test and evaluate internal controls per Company policies.
3. Conduct inspections and assessments of efficiency and Indonesian citizen, born in 1984, domiciled in Jakarta; graduated
effectiveness in finance, accounting, operations, HR, marketing, with a Master’s degree in Management from the University
IT, and other activities. of Indonesia (2019); holds professional certifications including
4. Provide improvement recommendations and objective Certified Compliance & Ethics Professional – International (CCEP-I),
information on audited activities to all management levels. PECB Certified ISO 37001 Lead Auditor, PECB Certified ISO 37001
5. Prepare audit reports and submit them to the BOD and BOC. Lead Implementer; appointed as Manager of Internal Audit and
6. Monitor, analyse, and report on implementation of Integrity Compliance on November 1, 2025; previously served
recommended improvements. as Manager of Ethics & Compliance Corridor and Onshore at
7. Collaborate with the Audit Committee. PT Medco Energi Internasional Tbk (2022-2025) and Manager of
8. Develop programmes to evaluate Internal Audit and Integrity General Audit at PT Medco Energi Internasional Tbk (2021-2022).
Compliance quality as needed.
9. Conduct special inspections when required. Meetings
In 2025, Internal Audit and Integrity Compliance held five meetings
with the BOD and four meetings with the Audit Committee.
The agenda for these meetings was as follows:
1. Review of Anti-Bribery Management System implementation
and performance across the Company and its operating assets.
2. Review 2025 Internal Audit and Integrity Compliance
Programme deliveries and results.
3. Planning of the 2026 agenda for the Internal Audit and
Integrity Compliance.
Page 61
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 59
Training and Competency Development
In 2025, staff from Internal Audit and Integrity Compliance participated in the following training sessions to raise their competency and
performance levels:
No. Training Date Organiser/Provider
1 Ideagen Audit Management System January 19, 2025 Insight Consulting
2 Know How About Inspection February 3, 2025 MedcoEnergi – Asset & Operating Integrity
3 IT Control & Cyber Security February 4, 2025 MedcoEnergi – DIT (Digital Information Technology)
4 Journey to CISA certification February 4, 2025 MedcoEnergi – Audit & Integrity Compliance
5 Industrial Control System Security February 19, 2025 Crowe Indonesia Teknologi
6 Medco E&P Industrial Control System February 19, 2025 MedcoEnergi – PDEE (Project Development &
Security Standard Engineering Excellence)
7 Know How About Logistic March 3, 2025 MedcoEnergi – Logistic
8 Overview IFRS S1 & S2 – IFRS Sustainability July 1, 2025 Deloitte Konsultan Indonesia
Disclosure Standard
9 Renewable Session: RUPTL PLN July 1, 2025 Medco Power Indonesia
10 GAIA Sustainability Sharing Session August 4, 2025 MedcoEnergi – Audit & Integrity Compliance
11 Lead Auditor: ISO 37001 Anti Bribery August 25–29, 2025 TUV NORD Indonesia
Management System
12 Fraud Auditing November 10-11, 2025 IIA Indonesia
13 Investigative Interview (Micro Expression) November 18-19, 2025 Expertindo
Based on NLP
Conducted Activities in 2025 Third-party compliance programmes, including:
• Vendor audit: conducted ABC (Anti-Bribery and Corruption) Audit to
In 2025, Internal Audit and Integrity Compliance conducted
three vendors
the following activities in accordance with its duties and
• Due diligence: conducted due diligence on three vendors
responsibilities as set out by the Internal Audit and Integrity
• Business ethics session during Vendor Gathering for MEB and ELB
Compliance Charter:
on May 9, 2025 at Batam to communicate Company requirements
• General Audit, including audit selected subsidiaries such and policies
as MSBT Employee & Organisational Initiatives
• Audit of Anti-Bribery Management System certified under ISO • Regular communication & education on business ethics for
37001:2016 across Head Office and operating employees across the Company and its subsidiaries
• 1st Surveillance Audits: MEB, ELB, TJBPS, MRPR • Strengthening compliance champion programme to foster integrity
• 2nd Surveillance Audits: Medco Power Head Office, BJI, and ethical awareness
PPP, MPE, EPE • Ensuring completion of mandatory annual declaration of Statement
of Adherence to the Code of Conduct and Conflict of Interest
• Monitoring follow-up audit recommendation for BJI, TJBPS,
• Reviewing and analysing activities involving giving and receiving
MRPR, MPSI, serta SOL
gifts and entertainment and hosting government
Page 62
2025 Management Business Company Corporate Sustainability
60 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Appointment of Public Accountant Risk Management System
The Company has appointed a public accounting firm to audit its The Company has implemented a comprehensive Risk Management
financial statements for the financial year ending December 31, 2025. System (RMS) to identify, assess, and manage risks that could
The appointment was made by the Board of Directors (BOD) refer affect the achievement of its business objectives pursuant to
to Resolution of Annual General Meeting of Shareholders (AGMS), Enterprise Risk Management Policy as approved and signed on
with prior recommendations of the Board of Commissioners (BOC) January 19, 2025 and amended on January 23, 2025. This system is
and the Audit Committee. designed to proactively anticipate and address strategic, operational,
financial, and compliance risks, thereby supporting business
In accordance with POJK No. 37/POJK.03/2019 concerning resilience, stability, and long-term sustainability amid dynamic
Transparency and Publication of Bank Reports and POJK No. 9 economic and industry conditions.
of 2023 concerning the Use of Public Accountant Services and
Public Accounting Firms in Financial Services Activities, as well as Risk Governance Structure
the resolutions of the AGMS, the BOD is authorised to appoint an
The Company’s Risk Governance Structure is depicted through the
independent public accounting firm and determine the honorarium
following diagram. It denotes a clear line of authority for Enterprise
and terms of engagement with the approval of the BOC.
Risk Management (ERM) across the strategic, tactical and operational
Accordingly, the BOD appointed Purwanto, Susanti & Surja to
levels. It also outlines the roles within each level, as well as each
audit the Company’s financial statements for financial year 2025.
level’s key responsibilities.
Strategic level
el
Lev
• Issues directives to align risk management with overall
SRMC Company strategy
gic
• Authorises changes to the Company’s risk policy
ate
• Reviews key risks escalated by the Board of Directors (BOD)
Str
• Provides recommendations to the Board of Commissioners
vel
Tactical level
l Le
• Ensures and oversees implementation and
BOD effectiveness of risk management processes
tica
• Periodically reviews all key risks
Tac
• Reviews and recommends improvements to risk
management processes
el
Lev
Operational level
nal
ERM Function / Functional Head / Subsidiary Directors
• Implement risk management processes
tio
Function / Subsidiary Risk Champions • Track risk indicators
era
• Reports risks to the BOD
Op
Risk Owners
Page 63
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 61
Risk Profile
Throughout 2025, the Company carried out risk mitigation actions for the following identified risks to the business:
Risk Description Risk Mitigation
Company depends on • Tariff risk for an IPP with PLN as the sole off-taker refers to the uncertainty that the agreed PPA tariff
PLN as its main customer may become economically insufficient or be adversely affected by regulatory intervention. In Indonesia’s
in Independent Power regulated electricity market, tariff structures are influenced by government policy objectives such as
Producer (IPP) activities. affordability, and subsidy.
• PLN’s procurement is closely linked to government planning documents (e.g., RUPTL) and regulatory
approvals, projects can be postponed, re-scoped, or cancelled due to policy shifts, demand revisions,
or budget constraints. For developers, this creates significant development risk: bid preparation costs
(technical studies, land securing, bid bonds, consortium structuring) are incurred upfront without certainty
of award. Prolonged delays between bid submission, LOI issuance, and PPA signing can further expose
sponsors to FX fluctuations, cost escalation, and financing market volatility, ultimately affecting project
viability and bankability.
Company’s gas-fired • Cooperate with suppliers who have good capabilities and reputations, such as PGN, Pertamina and the
power plants depend on Medco Group.
gas supplies from suppliers • Responsibility to provide gas is fully held by PLN, including all risks of gas supply failure. PLN will pay to the
with timely delivery and IPP as though electricity dispatch had occurred (take or pay).
in sufficient quantities.
Company may not be able • The Company focuses on securing gas supply contracts with longer contract terms.
to extend its gas supply • In the event there is an increase in the price of the gas supply contract, the Company will pass on the price
contracts with the same increase through adjustments to component C tariffs to off-taker.
terms and conditions.
Performance of the • The Company carries out drilling campaigns as accurately as possible, including make-up well drilling, to
Company’s geothermal maintain the quantity of steam needed for electricity production. This is in accordance with technical studies
power plants depends on conducted by competent third parties.
the quantity and quality
of the Company’s
geothermal resources.
Operational disruption • The Company insures the majority of facilities owned by the Company.
at the Company’s • The Company will be exempted from penalties for failure to produce a certain amount of electricity as stated
power plants. in the power purchase agreement if it is caused by natural conditions (natural force majeure) and/or force
majeure due to government action (government force majeure).
• The Company strengthens Operational Excellence by embedding hazard control, maintenance, and reliability
practices throughout its operations.
Tight competition from • As a reputable Indonesian power developer with a proven track record in developing, financing, and
local and global players as operating power plants across multiple technologies, Medco Power has strong competitive leverage in
a positive response to the IPP tenders. Its established relationships with PLN, regulators, and local stakeholders, combined with
Government’s programme demonstrated project execution capability and financial credibility under the MedcoEnergi group, enhance
in the electricity sector. confidence in deliverability and bankability. Being a credible local sponsor also strengthens consortium
positioning, facilitates permitting and land acquisition processes, and aligns with local content and national
participation objectives.
• The Company cooperates with global players in the power generation industry who have experience in
developing power generation projects, operating and maintaining power generation projects and providing
technology for equipment related to power generation projects.
Increases in interest rates • The Company conducts interest rate swaps to mitigate risk of rising interest rates.
and fluctuations in foreign • The Company carries out forward foreign exchange transactions to mitigate exposure to fluctuations in
exchange rates. foreign exchange rates.
• The Company carries cross-currency swaps to mitigate the risk of rising interest rates and changes in
the value of the US dollar against the Company’s bonds.
Page 64
2025 Management Business Company Corporate Sustainability
62 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Risk Description Risk Mitigation
Updated provisions on PJBL • The Company conducts legal gap analysis on existing PJBL.
structure (term, performance • The Company integrates regulatory flexibility clauses in new contracts.
obligations, tariff adjustment, • The Company conducts cross-functional review (legal, commercial and finance).
guarantees, and dispute
resolution), may require
existing or future contracts
to be amended.
Projects not listed or • The Company actively monitors RUPTL updates.
reprioritised in RUPTL • The Company carries out early alignment of project pipeline with PLN and ESDM, as well as national
may not be recognised as energy targets.
national priority projects, • The Company maintains flexible capital allocation.
affecting approval and
development timeline.
Operational activities • The Company conducts periodic licensing compliance audit.
or capacity expansion • The Company conducts timely update of OSS-RBA documentation.
without proper OSS-RBA • The Company conducts centralised monitoring of subsidiary permits.
adjustment results in • The Company stays in constant communication with the authorities.
non-compliance to licensed
business scope (IUPTL).
In addition to the aforementioned risks, the implementation of the Statement of the Board of Directors and/or
Minister of Energy and Mineral Resources (MEMR) Regulation No. Board of Commissioners on the Adequacy of the RMS
11 of 2024 concerning the Use of Domestic Products for Electricity
Based on management’s evaluation, the implementation of
Infrastructure Development also impacts on electricity investors,
the Company’s risk management system is assessed to be
such as the Company. Potential impacts include delayed schedules
adequate in managing the risks faced. During 2025, the Company
and increased project costs due to the following:
encountered various uncertainties that had the potential to affect
1. The Company must comply with rules on using domestic its performance.
products, which may be more expensive or limited in availability.
In addressing these risks, the Company implemented a
If domestic products do not meet the required standards,
comprehensive risk management system aimed at mitigating
additional costs may further arise from needing to procure
potential exposures and strengthening risk management
compliant products.
and control. Measures undertaken include the establishment
2. Meeting the mandatory percentage of domestic products,
of policies and mechanisms, the setting of risk limits,
especially for advanced technologies, may be difficult.
risk identification, measurement and monitoring, the
Nevertheless, the enactment of this regulation promotes the use implementation of information systems and risk controls,
of domestic products, which can serve to encourage the growth of as well as the application of an internal control system to
local industries and create new opportunities for adaptive investors. support effective risk management.
Periodic Review of the RMS
The Company periodically reviews the effectiveness of its RMS.
This review is conducted by Internal Audit and Integrity Compliance
in accordance with established procedures, and the results are
used to enhance and strengthen the effectiveness of the risk
management system.
Page 65
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 63
Internal Control System Whistleblowing System [GRI 2-16] [GRI 2-26]
The Company has an internal control system designed to protect The Company’s whistleblowing system serves as an effective
its assets and investments. Features of the system include: reporting mechanism for employees and stakeholders and forms
an integral part of its governance framework. The system enables
1. A disciplined and structured internal control environment. the safe and confidential reporting of alleged violations or other
2. Business risk assessment and management. matters that contravene business ethics.
3. Control activities.
4. Information and communication systems. The whistleblowing system also functions as an early detection
5. Supervision. mechanism, accessible to both internal and external stakeholders,
for reporting suspected violations based on evidence and good
Implementation of Financial, Operational, and intentions. The Company is committed to fostering an honest and
Compliance Control Supervision integrity driven work environment and ensures that all reports
Financial, operational, and compliance control supervision is are followed up professionally and in accordance with applicable
conducted on a comprehensive and continuous basis to ensure regulations and guidelines.
good corporate governance. Each division within the Company and
Protection for Whistleblowers
its subsidiaries is responsible for exercising internal control over its
respective duties and authorities, which are subsequently evaluated The Company is committed to ensuring the safety of whistleblowers
by management. The Internal Audit and Integrity Compliance by keeping their identity confidential, and providing them with
function supports management by conducting risk based audits protection from threats that could potentially arise from their
of the internal control system and recommending improvements. reporting of violations.
Audit results serve as key indicators of the system’s effectiveness
and guide enhancements to improve financial and operational Handling of Reported Cases
efficiency. In addition, the Company ensures that all business The responsibility for supervising the whistleblower system lies
activities are conducted in compliance with applicable regulations with the Board of Directors. The Company investigates every report
and ethical standards to maintain integrity and stakeholder trust. of alleged violations and takes appropriate actions to resolve the matter
and prevent recurrence. Where a report is found to be unsubstantiated,
Reviewing the Effectiveness of the Internal Control System the investigation will be terminated and the case closed.
Management evaluates the internal control system in each division
from time to time. Evaluation results inform necessary improvements Reporting Mechanism
and enhancements. The Company has established whistleblowing channels for both
internal (Internal Ethics Hotline) and external (External Ethics Hotline)
Statement of the Board of Directors and/or Board of stakeholders, enabling anonymous reporting of potential violations
Commissioners on the Adequacy of the Internal and misconduct in good faith.
Control System
Since 2010, Deloitte has managed the Company’s whistleblower
In 2025, the Board of Commissioners, the Board of Directors,
system. Deloitte screens and categorises each report, may request
and the Audit Committee conducted a comprehensive evaluation
additional information or supporting documents from the whistleblower,
of the Company’s internal control system. Based on management’s
and then submits reports to MedcoEnergi Corporate for investigation
assessment, the internal control system is considered effective
and necessary follow-up actions.
and adequate in supporting the achievement of business objectives,
without compromising financial performance, regulatory compliance, Internal and external whistleblowers can report violations through
or the Company’s reputation. the following channels:
External
Internal
(managed by appointed independent party)
Email Email
Lapor-medcoenergi@tipoffs.com.sg mpi.compliance@medcoenergi.com
Phone Phone
0800-150-3020 +62 81 1914 9911
Direct website: https://idn.deloitte-halo.com/lapor-medcoenergi/
Page 66
2025 Management Business Company Corporate Sustainability
64 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Corporate
Governance
Incident Disclosure Bribery and Corruption Policy and applicable anti-corruption
regulations. To ensure consistent understanding and effective
The Company is committed to fostering a culture of integrity
implementation, the Company conducts periodic communication
and ethical conduct across all levels of the organisation In 2025,
and education initiatives related to the policy.
the Company received seven alleged violations, of which four
incidents were resolved. Another three cases are currently Statement of Adherence to Code of Conduct
under review.
All Directors, Commissioners, and employees of MedcoEnergi
Anti-Bribery and Corruption Policy and its subsidiaries affirm that, in conducting business activities,
they consistently apply the principles of good corporate governance
The Company has established an Anti-Bribery and Corruption Policy,
(GCG) and comply with applicable laws and regulations. MedcoEnergi
which stipulates that all individuals within the Medco Power Group
and its subsidiaries are also committed to implementing GCG in
are prohibited from giving or receiving, directly or indirectly, any
accordance with prevailing regulatory requirements and provisions.
form of benefit that may improperly influence decision making
or result in personal or third party gain. The policy is supported All levels of the MedcoEnergi organisation are responsible
by programmes and procedures designed to ensure compliance, for implementing and complying with the principles of GCG.
and deter corruption, kickbacks, fraud, bribery, and gratuities. MedcoEnergi believes that the consistent application of these
principles contributes to improved organisational performance and
The Company requires all employees, business partners, agents,
generates positive value for shareholders and stakeholders.
distributors, contractors, and suppliers to comply with the Anti-
Business Ethics Guidelines
Relationship between GCG and Business Ethics
Vision, Mission and Company Values
Good Corporate Governance (GCG) Code of Conduct (CoC)
Manage Organisation Manage Employee
Business Conduct Business Conduct
Business Ethics and Work Ethics
Page 67
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 65
Good Corporate Governance Guidelines Sanctions for Violations of Business Ethics
The Good Corporate Governance Guidelines set out the Where a violation of business ethics is substantiated,
principles governing the roles and responsibilities of the the Company will impose sanctions in accordance with
Board of Commissioners (BOC), the Board of Directors (BOD), established regulations and guidelines, which may include
employees, and all stakeholders in the Company’s business reprimands, warnings, suspension, and termination
activities. The Guidelines also regulate the implementation of employment.
of the duties and responsibilities of each governance organ.
Legal Cases with Material Impact
Code of Conduct In 2025, there were no legal cases with material impact faced
The Company has established a Code of Conduct that articulates its by the Company, its subsidiaries, members of the BOD or
core values of professionalism, ethics, openness, and innovation. members of the BOC.
The Code guides all individuals in the performance of their duties and
responsibilities, with the objective of safeguarding the interests of the
Company, its shareholders, and stakeholders in the short and long-term.
Page 68
2025 Management Business Company Corporate Sustainability
66 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Sustainability
Report
Mangrove Planting Programme, Batam
Page 69
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 67
68 About the Sustainability Report
69 Material Topics Determination
and List Process
74 Sustainability Strategy
78 Climate Change Management
80 Sustainability Governance
85 Sustainable Economic
Performance
86 Environmental Performance
92 Human Resources
Management Performance
99 Occupational Health and Safety
107 Community Development
Performance
111 Statement Letter of the
Board of Commissioners and
Board of Directors
Page 70
2025 Management Business Company Corporate Sustainability
68 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
About the
Sustainability Report
This Sustainability Report serves as a relevant, and balanced information to Social, and Governance (ESG) performance
key communication tool through which support stakeholders’ understanding of during the reporting period, aligned with
Medco Power explains how sustainability how sustainability is managed and how relevant national and international
considerations are embedded across associated risks and opportunities are sustainability frameworks such as the
its business activities and governance addressed across the organisation. Indonesian Financial Services Authority
structures. It provides context on the Regulation (Peraturan Otoritas Jasa
Company’s sustainability framework, Building on this context, the 2025 Keuangan/POJK) and Global Reporting
scope, reporting boundaries, and Sustainability Report presents Medco Initiatives (GRI). The report also illustrates
management approach, forming the Power’s continued commitment to how responsible business practices
foundation for the topics explored in the integrating sustainability into its business support long-term value creation and
following chapters. Through this report, operations and decision-making processes. sustainable development.
Medco Power aims to present clear, It outlines the Company’s Environmental,
• Financial Services Authority Regulation No.51/POJK.03/2017 concerning the Implementation of
Sustainable Finance for Financial Services Institutions, Issuers, and Public Companies.
Guidelines and Standards • The report format refers to the Financial Services Authority Circular Letter No.16/ SOJK.04/2021
concerning the Form and Content of Annual Reports of Issuers or Public Companies.
• The 2021 Global Reporting Initiative (GRI Standards) international standard as a reference.
• Published annually
Reporting Cycles and Periods
• Reporting period January 1, 2025 to December 31, 2025
[GRI 2-3]
• Previous report published in June 2025
Scope and Boundaries The Sustainability Report performance information and data include environmental, social, governance,
[GRI 2-2] and economic performance covering the operations of the Company and its subsidiaries.
Restatement [GRI 2-4] There is no restatement in the 2025 Sustainability Report.
The Company did not receive any correspondence from the Financial Services Authority (OJK)
Previous Report Feedback Response concerning the review of the 2023 Annual Report and Sustainability Report. Accordingly,
(OJK G.3] there were no material comments or responses from OJK in relation to the Sustainability Report.
No Feedback response for 2024 Annual Report and Sustainability Report.
External parties’ independent verification (assurance) is not yet being used. The verification
External Part Verification
process is conducted internally, with the information and data in this report reviewed by the
[OJK G.1][GRI 2-5]
internal team and management.
Corporate Secretary
Reporting Contact [GRI 2-3]
Corsec.mpi@medcoenergi.com
Stakeholder Engagement, East Java
Page 71
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 69
Material Topics Determination
and List Process [GRI 3-1] [GRI 3-2]
Material topics are the key sustainability and external stakeholders. The materiality eight key areas are highlighted as high
matters that significantly affect both Medco assessment, previously conducted in 2022, importance for 2025: Energy, Business
Power Indonesia and its stakeholders. continues to provide relevant insights for Ethics, Economic Performance, Emissions,
Identifying and prioritising these topics the 2025 reporting period. Stakeholder input Biodiversity, Occupational Safety and Health,
helps the Company focus on areas with has enabled the Company to pinpoint Local Communities, and Labour Practices.
the greatest impact, manage risks, enhance matters that significantly impact its
performance, and align its strategies with operations and are of primary concern. The management of key ESG risks related
global sustainability standards and the Topics of highest priority are actively to these material topics can be found in this
Sustainable Development Goals (SDGs). managed to reduce negative impacts, report’s Sustainability Governance Chapter,
enhance operational performance, and as detailed on page 80, and are further
Building on this approach, the Company advance the Company’s sustainability goals supported by the Climate Change and
identified and prioritised material topics in alignment with the SDGs. Based on the Sustainability Strategy described on
through engagement with both internal previously conducted materiality assessment, pages 78 and 74, respectively.
High
Influence Stakeholder Assessments and Decision
Medium
Low
X-axis : Impact on Company Value
Low Medium High
Significance of Economic, Social, and Environment Impacts
Y-axis : Impact on Social and Environment
Energy Economic Performance Labour Practices Occupational Health and Safety
Business Ethics Emissions Biodiversity Local Communities
Page 72
2025 Management Business Company Corporate Sustainability
70 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Material Topics Determination
and List Process
Impact Boundaries and Management Approaches on Material Topic [GRI 3-3]
Energy
Affected Stakeholders
Shareholders, employees, suppliers, communities, and customers
Description Strategy and Initiatives Achievement
Energy is a key resource • The Company is responsible for identifying and • Expansion on portfolio of clean and renewable
with significant impacts on advancing power plant development programmes energy power plant
the Company’s stakeholders. based on clean and renewable energy, coordinating • Using technology and resources more efficiently
Through effective energy their implementation, and preparing strategic plans to
management, the Company enhance power plant efficiency and increase the
enhances process and share of clean energy.
equipment efficiency while • Driving the energy transition by targeting renewable
increasing the utilisation of energy to account for 30% of total installed capacity
renewable energy sources. by 2030.
Economic Performance
Affected Stakeholders
Shareholders, employees, suppliers, communities, customers, and government
Description Strategy and Initiatives Achievement
Beyond its own economic • The Board of Directors oversees planning, • Revenue in 2025 reached Rp2,931.99 billion
performance, the Company’s evaluation, and supervision to ensure that
business activities are activities align with established targets.
expected to contribute
positively to local, regional,
and national economies.
Sarulla Geothermal, North Sumatra
Page 73
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 71
Business Ethics
Affected Stakeholders
Shareholders, employees, Government, and business partners
Description Strategy and Initiatives Achievement
The Company continuously • Implementing ISO 37001:2016 Anti-Bribery Internalisation of Company Ethical Value
strives to embed the Management System (ABMS) certification Strategic Objective: Raise Employee Awareness and
principles of Good across the Company’s Head Office Promote the Implementation of Company Ethical Value
Corporate Governance and subsidiaries. in Operational Activities.
(GCG) into Medco Power’s • Issuing an Anti-Bribery & Corruption • 4 Business Ethics Inductions to New Hires, with outreach
organisational culture. Management Commitment declaration. to 43 employees
• Holding compliance champions programme in • 3 Specific Ethics Sessions – General Ethics & Compliance
each subsidiary. Session for EPE, MPGS & MCG and Compliance Champion
• Establishing procedures regarding anti-bribery Workshop with outreach to 89 employees
and corruption management. • Corporate Mandatory Declarations – Statement of
• Conducting Fraud and Bribery Risk Adherence and Conflict of Interest Declarations with 100%
Assessments (FRA) which is reviewed submissions from all employees
and updated annually. • 4 Newsletters on Company Ethics agenda published
• Conducting due diligence on vendors. to employees
• Conducting Audits on third parties. • Integrity Challenge and Competition in commemoration
• Making an employee Declaration of International Anti-Corruption Day
Compliance and Conflict of Interest.
• Conducting Business Ethics induction to Seeking Guidance
provide information and raise ethics and Strategic Objective: Provide Guidance for employees on
compliance awareness to new employees. Business Ethics Measures and Implementations
• Campaigning the Company’s values and • 8 Seeking Guidance Handlings, i.e., Conflict of Interest,
Compliance Programme to both employees Gift & Entertainment, and Government Hosting
and third parties.
Compliance Champion Programme
Strategic Objective: Grassroot Support of Business Ethics
Implementation in Company Operations
• 28 Compliance Champions in 10 Functions and 14 Assets
• 2025 Performance:
• 42 Compliance Sharing Sessions and 70 Compliance
Communications, reaching 752 audiences (based on list
of attendance)
Standardised Anti-Bribery Measures
Strategic Objective: Globally Recognised Standardised
Approach in Company Anti-Bribery Initiatives
• Maintenance of 5 ABMS certificates for Medco Power,
MEB, ELB, TJBPS, and MRPR
• Ensure updated FRA and related mitigation actions
Third Party Risks Management
Strategic Objective: Company Protection from Risks
Related to Operations with Third Parties
• 3 Vendor Audits and 3 Due Diligence – Logistic &
Inspection Area
• 1 Vendor Forums – Batam Vendor gathering attended
by 148 participants
• 4 Quarterly Newsletters to all Medco Power Vendors
Government Hosting and Gift & Entertainment Control
Strategic Objective: Company Protection from Related Illegal
Gratuities Risks to/from Third Parties – Government Officials,
Business Partners, Vendors, and Local Communities
• Reviews on 66 Government Hosting Activities
• Reviews on 33 Gift & Entertainment Providing/Receiving
Page 74
2025 Management Business Company Corporate Sustainability
72 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Material Topics Determination
and List Process
Impact Boundaries and Management Approaches on Material Topic [GRI 3-3] (Continued)
Emission
Affected Stakeholders
Shareholders, employees, communities, customers, and government
Description Strategy and Initiatives Achievement
Emissions, including • Expanding natural gas production and its use in • All power plants have complied with emission
greenhouse gases, electricity generation. parameters that meet quality standards as per
contribute to climate • Exploring investment opportunities in applicable regulations and policies
change. Accordingly, the Gas to Power projects. • Selling renewable energy amounting to 25% of
Company is committed • Developing power plants based on renewable the total electricity sold
to reducing its emissions energy sources. • Operating 32% clean energy from the total overall
in line with government • Assessing the feasibility of implementing existing O&M service operations
strategies and initiatives. renewable energy technologies. • Development of the ecosystem for electric
vehicles (EV)
• Implementation of emission control
• Monitoring greenhouse gas (GHG) emission intensity
• Conducting Climate Change Risk Assessment (CCRA)
and supporting climate change mitigation actions
Environmental Conservation and Biodiversity
Affected Stakeholders
Shareholders, employees, communities, customers, and government
Description Strategy and Initiatives Achievement
Environmental preservation • Communicating environmental regulations across • Environmental permits for each project carried out
and biodiversity are Medco Power and all subsidiaries. • Reporting monitoring results to environmental
key commitments of • Managing environmental permits for each agencies
the Company, aimed at new project. • Conducting tree planting of more than 140,000
maintaining a balance • Conducting environmental monitoring and reporting. seeds in all assets (included compliance and
between the ecosystem • Implementing tree-planting initiatives. beyond compliance)
and the sustainability of • Raising awareness of sustainability and climate
its operational activities. change through e-learning programmes.
Occupational Health and Safety
Affected Stakeholders
Employees and business partners
Description Strategy and Initiatives Achievement
Occupational Health and • Reinforcing leadership commitment to Occupational • TRIR 0.59
Safety (OHS) reflects the Health and Safety (OHS). • Zero Lost Time Incident
Company’s commitment • Enhancing OHS culture across all company and • Zero Occupational Illness Rate
to safeguarding the health subsidiary business projects. • Man hours 2025: 6,740,472 hours
and safety of all employees • Promoting OHS campaigns and initiatives, • Safe Man Hours YTD 2025: 56,422,282 hours
in the workplace. including the 3T Golden Rules, Life-Saving Rules,
“All Accidents Are Preventable,” and Stop
Work Authority.
Page 75
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 73
Local Community
Affected Stakeholders
Government and local communities
Description Strategy and Initiatives Achievement
Communities are the • Empowering communities by providing training • Empowering women through financial literacy
Company’s closest and guidance in designing and managing training programmes and sewing machine assistance
stakeholders, directly small businesses. • Providing electrical installations to support
experiencing both • Implementing programmes to improve community activities
positive and negative community health. • Offering educational programmes and facilities such
impacts, making the • Supporting the development and enhancement as reading and counting programmes, as well as
management of these of infrastructure in operational areas. reading gardens
impacts a key responsibility • Promoting initiatives to improve education within • Accepting internship students to enhance their
for the Company. the community. competencies before entering the workforce
• Improving infrastructure such as roads, places of
worship, and sports facilities
• Participating in community activities such as religious
events, Independence Day celebrations, and others
• Participating in sustainable likelihood and community
development through local economic growth
• Conducting healthcare access for communities
such as blood donation and free health check up
Employment Practices
Affected Stakeholders
Employees, government, and business partners
Description Strategy and Initiatives Achievement
Employee recruitment, • Recruiting talent that aligns with the Company’s • Recruiting 87 workers at Head Office, subsidiaries,
placement, and competency and performance standards. and projects
development are carried • Developing and implementing policies, procedures, • Implementing 5,925 hours of training attended by
out in alignment with and business process management across 3,721 participants during 2025
operational needs and all subsidiaries. • Implementing alignment of policies and procedures
in accordance with the • Providing training programmes to enhance employee between Head Office and subsidiaries
Company’s policies competencies, including certification assessments.
and procedures. • Strengthening skills and delivering targeted training
to meet Operations & Maintenance (O&M) standards.
• Aligning business processes and support functions
to optimise human resources between the Head
Office and subsidiaries.
Page 76
2025 Management Business Company Corporate Sustainability
74 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Sustainability
Strategy [OJK A.1] [GRI 2-23] [GRI 2-24]
As a power company operating in a delivering benefits across its stakeholders. Group. [GRI 2-24] The three key pillars
rapidly evolving landscape, Medco Power With this core strength, the Company is also guide the selection of Medco Power’s
continues to strengthen its progress and better positioned to manage external material topics, ensuring that the issues
growth by embedding sustainability responsibilities, including preserving nature highlighted in the previous chapter
principles into its business, ensuring and environment which includes mitigating (see pages 69–73) reflect the Company’s
positive impacts for all stakeholders. climate change, and supporting social sustainability priorities and long-term
well-being to maintain harmony between commitments. As one of the areas derived
Medco Power understands that achieving value creation and community contribution. from the environmental pillar and also
sustainable growth requires a balanced reflected in the material topics, Medco Power
approach to creating value for the Three Pillars of Sustainability recognises the importance of addressing
enterprise, stakeholders, and the climate-related risks and opportunities and
environment. Through a collaborative and Medco Power’s sustainability strategy is
implements a dedicated Climate Change
innovative approach, the role of employees guided by the Three Pillars of MedcoEnergi
Strategy to support this effort. Further details
and leadership forms a resilient internal Sustainability to ensure consistent
on the strategy are available on page 78.
system that supports the Company in implementation and alignment with the
Leadership of and by Environmental and Local Community
Our Employees Social Development Empowerment
Our people are our most valuable asset. As a responsible corporate citizen, we are MedcoEnergi endeavours to be a
They are the keystone of our operations committed to complying with all applicable leading company on social practices
and our future success. Therefore, laws and regulations, and aligning and responsibility wherever we operate.
we must recruit diverse talent from our health, safety and environmental We engage regularly, openly, and
all backgrounds who possess the right management with industry best practice honestly with stakeholders to share,
skillsets and ethical values. We are and relevant international standards. hear, and understand each party’s views
committed to maintaining a healthy, We regularly set and monitor our goals and concerns. We respond by making
safe workplace built upon a culture and performance to achieve zero injuries, community investment decisions in a
of mutual respect. To be successful illnesses, environmental incidents, and the strategic, fair, and transparent manner
we will develop the capacity of all of reduction of waste and emissions. We seek as we seek to empower and support
our employees while recognising and to continually strengthen our operational the creation of self-reliant communities
rewarding individual performance and excellence through enhancing our aligned with the UN SDGs.
expecting personal accountability. safety culture, stakeholder engagement,
All levels of our management are environmental stewardship, and the
expected to set clear directions ongoing adoption and development of
towards our expectations. best practices. We are committed to
complying with all applicable laws and
regulations, to respecting human rights
in line with the UN Guiding Principles
for Business and Human Rights and the
Voluntary Principles on Security and
Human Rights, and to learning from
and applying industry best practice and
relevant international standards.
Governance as the As the element that interconnects and strengthens all sustainability pillars, Medco
Foundation of Sustainability Power’s governance framework supports the effective implementation of our initiatives.
Details on sustainability governance can be found on page 80.
Page 77
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 75
Successful implementation requires Commitment to Human Rights • Human Rights Protection: Ensuring fair
Medco Power to continually monitor working conditions, recognising union
the progress of its sustainability strategy. As outlined in our sustainability strategy rights, and maintaining zero tolerance for
This is carried out by translating sustainability under the Environmental and Social child labour, modern slavery, harassment,
strategy into Key Performance Indicators Development pillar, and reinforced as a and discrimination.
(KPIs) and Team Performance Contracts priority in the first year of MedcoEnergi • Vulnerable Groups: Identifying and
(TPCs), which are cascaded from top Sustainability Roadmap 2023-2027, the addressing risks faced by minorities,
management to operational levels and commitment to human rights remains women, children, and migrant workers.
reviewed by the Board of Directors on a fundamental. As part of the Medco Group, • Partner Accountability: Requiring business
quarterly basis. This Sustainability Policy Medco Power also adheres to the partners to comply with our Code of
is mandatory and applies to all workers MedcoEnergi Human Rights Policy, which Conduct and Supplier Code to ensure
and business units. includes the following key commitments: legal and ethical standards.
• Respect for Human Rights: Upholding • Grievance Mechanisms: Providing
Sustainability Roadmap principles from the Universal Declaration channels for addressing concerns,
of Human Rights (UDHR), International with clear procedures for investigation
Medco Power understands that
Labour Organisation (ILO) Declaration, and resolution.
pursuing sustainability is a continuous
and other global standards. • Governance and Oversight: Involving
journey. To remain on the right track,
Guidance Frameworks: Aligning with the the Board of Commissioners, Board of
the Company follows the MedcoEnergi •
UN Guiding Principles on Business and Directors, Corporate Sustainability and
Sustainability Roadmap 2023-2027,
Human Rights (UNGPs), Voluntary Principles Risk Management Division, and functional
which defines targets and long-term
on Security and Human Rights (VPSHR), teams to ensure accountability.
direction for the Group. Within the
and IFC Performance Standards. • Due Diligence: Implementing human rights
MedcoEnergi Sustainability Roadmap
Legal Compliance: Adhering to the laws due diligence at the asset level and across
2023-2027, Medco Power plays a key •
of the countries in which we operate. all business units.
role in achieving the renewable energy
mix target of 26% capacity. • Risk Management: Enforcing policies
related to our Code of Conduct, Supplier
Code, Sustainability, Health, Safety &
Environment, Community Development,
and Security.
MedcoEnergi Sustainability Report 2023-2027
2023 2024 2025 2026 2027
• Update goals and • Develop a Just • Reduce 20% of Oil & • Internal carbon • Further integrate
KPIs based on the Transition plan Gas Scope 1 & 2 pricing and carbon sustainability into
2022 materiality • Embed Climate GHG emissions trading: credits business to enhance
assessments Change Strategy in • Reduce 25% of and offsets value creation
• Enhance corporate business methane emissions for • Partnership • Reach Top Quartile
sustainability & and financial plans our Oil & Gas business programmes ESG performer in the
climate change • Enhance governance, • Increase installed to promote data Oil & Gas Exploration
capabilities systems, capability renewable energy transparency and and Production Sector
• Establish Human building for capacity by 26% implement best in Southern Asia
Rights Policy human rights • Disclose Scope 3 practices along • Maintain or improve
• Conduct a GHG emissions the value chain MSCI score of an A,
quantitative • Commit to upstream and CDP Climate
climate-related Carbon Capture Change score of a B
risk assessment and Storage (CCS) • Materiality assessment
pilot project update for the next
five-year roadmap
Page 78
2025 Management Business Company Corporate Sustainability
76 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Sustainability
Strategy
Supports for Sustainable The Company ensures that its sustainability the role of employees, the three key pillars,
strategy, material topics, climate change and the sustainability roadmap, Medco
Development Goals efforts, and human rights commitments are Power strives to advance responsible
As part of its commitment to creating aligned with these global goals. By integrating growth while contributing to community
sustainable positive impact, Medco Power sustainability principles into business and welfare and environmental preservation
continues to support the achievement of operational practices, and by strengthening across its operational areas.
the Sustainable Development Goals (SDGs).
UN SDGs Activity Support
SDG 3: • Participation in the free electricity installation programme for underprivileged households in Batam and Cianjur Region.
Good Health • Conducting a health education session and donating to drug-resistant tuberculosis (TB-RO) patients at Embung
and Well Being Fatimah Regional General Hospital in Batam.
• Completed a Watershed Rehabilitation (DAS) programme in the Special Purpose Forest Area of Bukit Suligi Training
Forest, Rokan Hulu Regency, Riau Province.
• Participated in a Plastic Waste Cleanup Action around the Horizon Industrial Area, Sungai Lekop Village, Sagulung
District, Batam City for World Environment Day 2025.
• Carried out health check-up activities for residents of Dusun Curah Macan, Ijen District.
• Organised prevention and management of stunting and malnutrition activities in Ijen District.
• Distributed emergency response aid to the Disaster Response Post in the Tenayan Industrial Village.
• Held blood donation programme in Ijen and Riau.
Employee Teaching Programme, East Java
Page 79
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 77
UN SDGs Activity Support
SDG 4: • Brought a meaningful impact to the community through the “Karyawan Mengajar” (Employee Teaching)
Quality programme in Batam to deliver essential topics such as HIV/AIDS awareness, drug prevention, climate change,
Education operation and maintenance of power plants, workplace safety, and proper use of fire extinguishers (APAR).
• Provided education on tuberculosis, emphasising the importance of treatment adherence, infection prevention,
and the role of family support in the healing process in Batam.
• Conducted an industrial visit programme from SMKN 1 Sempol, Bondowoso Regency specialising in Electric Power
Generation Technology.
• Provide reading parks to support educational facilities in Sopo Malo to increase students interest in reading.
• Strengthens Women’s Empowerment in Tenayan Raya through Posyandu Cadre Training.
• Health and hygiene education for children in PAUD Cahaya Melebung through Integrated Early Childhood Healthy
Learning Programme in Riau.
• Renovation of PAUD Cahaya Melebung and Education on Clean and Healthy Living for Early Childhood in Melebung
Subdistrict, Riau.
SDG 7: • Deliver lessons on geothermal power plants and how they generate electricity using geothermal energy at SMKN 1
Affordable and Sempol in Ijen.
Clean Energy • Installation of electric vehicle charging stations to the use of electric cars in operational areas.
SDG 8: • Partnered with the Family Welfare Empowerment (PKK) Group of Kali Gedang Village, Ijen District to hold a
Decent Work and programme focused on developing the local economy based on natural resources such as Ginger Pandan Tea also
Economic Growth known as The Japan (Teh Jahe Pandan).
• Partnered with Nuri Indah Lestari, a MSME to help increase the marketing of their superior coffee products in Ijen.
• Implemented a community development programme based on circular economy through eco-friendly cricket
farming in Kelurahan Industri Tenayan, Pekanbaru.
• Held a training programme on bamboo cultivation and utilisation in Kelurahan Industri Tenayan, Pekanbaru.
• Financial Management Development for MSME.
SDG 13: • Conducted climate change risk assessments at selected assets, including the quantitative assessment for
Climate Action Sumbawa Solar PV IPP, to better understand potential physical risk and proper risk management.
• Continued nature-based initiatives, including mangrove restoration activities in coastal areas around our operations.
• Delivered biodiversity awareness activities at schools located along the gas pipeline corridor near the
MRPR Gas-fired.
• Expanded our lower-carbon power portfolio, with renewable energy contributing 25% of total power sales.
• Continued the GAIA Champions programme to strengthen internal understanding of climate and sustainability
topics across assets and functions.
• Held an in-person Climate Change Risk Assessment Champions workshop involving participants from across
the organisation.
• Participated in global climate programmes and conferences to support international collaboration and
knowledge exchange.
SDG 16: • Ensured compliance with applicable rules and regulations in running the business.
Peace, Justice and • Implemented and internalised the Code of Conduct for all employees.
Strong Institutions • Implemented and periodically updated the Compliance Procedure.
• Implemented the Government Officials Hosting Procedure to ensure transparency and accountability.
• Implemented Due Diligence Procedure to support good governance.
Page 80
2025 Management Business Company Corporate Sustainability
78 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Climate Change
Management [OJK B.2]
As part of its role within MedcoEnergi, In response to the growing challenges Climate Change Strategy
Medco Power contributes to climate change posed by climate change, Medco Power
management by advancing lower-carbon recognises the importance of managing Recognising that climate action requires collective
power generation. Through the focus on climate-related risks while capturing effort, Medco Power adopts all climate-related
electricity provision from gas and renewable opportunities from the energy transition. actions and plans with the MedcoEnergi Climate
energy sources, Medco Power supports Minimising impacts on the climate Change Strategy. As part of its pathway toward
the reduction of MedcoEnergi’s overall system and associated ecosystems achieving its Net Zero Target, Medco Power plays
greenhouse gas emissions. These efforts forms part of the Company’s responsible a key role in the MedcoEnergi’s Transition to
reflect Medco Power’s responsibility to business practices to support long-term Low-Carbon Energy strategy. This strategy focuses
support MedcoEnergi’s broader climate resilience. To advance its climate on growing gas as a transition energy source
commitments while strengthening the aspirations, the Company considers a through portfolio expansion and opportunities such
resilience and competitiveness of the structured pathway supported by a as gas to power, while simultaneously expanding
power generation portfolio. robust foundation to be essential. the renewable power portfolio, assessing
emerging technologies, and supporting initiatives
that enable the adoption of green solutions.
MedcoEnergi’s Climate Change Strategy
Vision Mission
To be the Energy Company of Choice for our To build long-term value with a
investors, shareholders, partners, employees, portfolio of sustainable energy and
and the communities where we operate natural resource business
Climate Aspiration
Achieve Net Zero for Scope 1 and Scope 2 GHG Emissions by 2050 and Net Zero for Scope 3 GHG Emissions by 2060
Strategy Focus Area Key Initiatives
• Reduces flaring venting an fugitive emissions
Technologies
• Reduce energy use & intensity, adopt, renewable energy sources
& Best Practice
• Collaborate along Supply and Value Chains to improve efficiency and emissions disclosure
Emissions Carbon Removal Carbon sequestration through nature-based solutions
Transition Risks
•
Reduction & Offset Explore CCUS1 and CCS2 opportunities
Managing
•
Growing Gas
• Expand natural gas production portfolio
as a Transition
• Evaluate opportunities to invest in LNG to power
Energy Source
Transition to Growing • Expand renwable power portfolio
Low Carbon Energy Renewables • Assess feasibility to adopt emerging renewable technologies
Portfolio • Support initiatives for adoption of green solutions
Managing Physical
Climate • Assess quantitative financial impact of climate-related physical risks
Climate Risks
Adaptation • Implement systems for regular monitoring of climate hazards and their impacts
Emerging Physical
Climate Risk Climate • Continue physical risk and biodiversity assessments on new investments
Management Design • Integrate climate risk assessment into the future engineering designs
Enablers
Governance Data Management Transparency & Compliance Collaboration & Engagement
• Board commitment and oversight • Improve Emission Data • Continue third-party verification • Engage with regulators and
• Integration into business plans Management System of emission disclosures investors to monitor emerging
and performance management • Improve Scope 3 GHG • Strengthen TCFD3 disclosures regulations and trends
• Staff engagement and emissions collection and and improve CDP4 and • Collaborate with stakeholders to
capacity building calculation in alignment with ESG scoring drive the low-carbon economy
protocols and standards
1
CCUS : Carbon Capture Utilisation & Storage
2
CCS: Carbon Capture & Storage
3
TCFD: Task Force on Climate Related Financial Disclosure
4
CDP: Formerly the Carbon Disclosure Project, an international non-profit organisation that helps companies and cities disclose their environmental impacts. Website: www.cdp.net
Page 81
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 79
Clean and Realisation Target In 2025, a qualitative assessment was
conducted for six assets exposed to
Renewables identified climate hazards, with exposure
Installed levels classified into five categories,
Capacity as presented in the table.
A quantitative assessment was also
77% 77% 77% 74% 70% conducted in 2025 for Sumbawa Solar PV
IPP to evaluate the impacts of extreme
heat and extreme rainfall-induced flooding.
For extreme heat, the assessment was
based on projected ambient temperatures
exceeding optimal PV operating thresholds,
Renewables IPP Capacity
23% 23% 23% 26% 30% leading to reduced electricity generation
and associated energy and revenue losses.
Gas-Fired IPP Capacity
Under the SSP5–8.5 scenario, ambient
2022 2023 2024 2025 2030 temperatures during daylight hours were
projected to exceed the threshold throughout
the assessment period, resulting in estimated
impacts ranging from USD2,600 to
Managing Transition Risk impacts of climate-related hazards through USD19,600 per year.
a climate change risk assessment process.
Within the transition pathway, Medco The outcomes of this assessment provide For extreme rainfall, historical patterns
Power is responsible for identifying and the basis for developing adaptation measures indicate that prolonged low-flow conditions
developing clean and renewable energy– and strengthening climate resilience. Since followed by intense rainfall significantly
based power plant development, as well as 2021, MPI’s assets have been assessed increase flood risk, potentially leading to
communicating, coordinating, and overseeing using both qualitative and quantitative asset damage and business interruption.
the implementation. The Company also approaches, with scenario analysis forming a The estimated quantitative impact from
prepares strategic plans to enhance power core component to evaluate physical impacts flooding ranges from approximately
plant efficiency and increase the share of across short-, medium-, and long-term time USD505,000 to USD835,000 per year.
clean and renewable energy in its portfolio. horizons. These time frames consider factors
To operationalise the Companies’ low-carbon such as regulatory developments, market The proposed mitigation measures address
strategy, Medco Power has set specific trends, and strategic shifts related to the identified physical climate risks through a
targets, including achieving renewable energy low-carbon transition. combination of operational improvements,
mix of 26% in 2025 and on track for the engineering measures, enhanced monitoring,
target of 30% in 2030, as shown in the The physical risk assessment follows a and emergency preparedness for extreme
figure below. More information on climate structured process that includes asset heat and extreme rainfall events. By
initiatives, including transition selection and prioritisation, risk identification, strengthening procedures, asset protection,
efforts, operational programmes, and risk analysis, and risk evaluation. Climate and response capabilities, these actions
industry engagement, is presented in the hazards are identified using global climate aim to reduce potential revenue loss,
subsection “Climate Action and Low-Carbon data sets while exposure and vulnerability asset damage, and business interruption.
Transition” on page 86. are assessed based on asset characteristics Collectively, the measures demonstrate
and operating conditions. Risk analysis is the Company’s ongoing commitment to
Managing Physical Risk [GRI 201-2] conducted under two contrasting climate enhancing climate resilience and safeguarding
Addressing physical climate risks begins scenarios, SSP1–2.6 and SSP5–8.5, to the continuity of its operations under
with identifying and assessing the potential capture a range of potential future conditions. evolving climate conditions.
2030 2030 2050 2050
Asset Baseline Main Climate Hazard
(SSP1-2.6) (SSP5-8.5) (SSP1-2.6) (SSP5-8.5)
DEB Gas-Fired Extreme Heat
ELB Gas-Fired Extreme Heat, Coastal Flooding
Samosir Geothermal PSPE Extreme Heat, Extreme Rainfall Flooding
West Bali Solar PV IPP Extreme Heat, Water Stress, Landslides
Sulut-1 O&M Extreme Heat
Timor-1 O&M Extreme Heat, Water Stress, Wildfires
Minimal Low Moderate High Very High
Page 82
2025 Management Business Company Corporate Sustainability
80 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Sustainability
Governance [GRI 3-3]
Establishing robust governance extends across all operational dimensions To support sustainability implementation,
frameworks remains central to and guides the Company’s strategic the Company maintains a designated
Medco Power’s operational approach decision-making processes. management-level position responsible
and long-term sustainability objectives. for coordinating sustainable operations.
The Company recognises that sound Duties and Responsibilities This role ensures governance policies
governance practices form the essential of Sustainability Governance and practices align with principles of
foundation for stakeholder confidence transparency, accountability, and integrity
and support the delivery of sustainable Clear organisational structures support across operational functions. [OJK E.1]
development outcomes. Medco Power’s approach to governance
and enable effective oversight of business The BOD reviews and approves disclosed
As Medco Power advances its position in activities. The Board of Directors (BOD) information, including materiality
the provision of clean and renewable energy holds primary responsibility for strategic assessments, as documented through
development, the organisation continues decisions affecting the Company’s formal approval processes and signature
to reinforce governance mechanisms that economic, environmental, and social authentication on relevant report sections
address the evolving requirements of the performance, including matters pertaining while the Board of Commissioners provides
global energy transition. This commitment to sustainability. [GRI 2-12] [GRI 2-13] oversight of management activities across
Sustainability and ESG Governance Structure of MedcoEnergi
MedcoEnergi Board
of Commissioners
Reporting Line
Sustainability & Risk Management
Coordination Line Committee (SRMC)
Medco Power Sustainability Team
Corporate
MedcoEnergi Board of Directors
Committee and Working Groups as part of
sustainability and climate change governance
Climate Change Working Group Energy Transition Working Group
GHG Emissions Physical Risk Management Low Carbon Energy Transition
Reduction Sub-Working Group Sub-Working Group Sub-Working Group
Chief Financial Officer Chief Operating Officer Chief Administrative Chief Executive Officer
(CFO) (COO) Officer (CAO) (CEO)
CF, CPIA, & IR CHSE, TA, & POEE HR, R&S, & SCM CSRM & A&IC
Medco Power
Board of Directors
President Director & Director & Chief Director & Chief Director & Chief Commercial &
Chief Executive Officer Operating Officer Financial Officer Business Development Officer
BD & Sustainability
Page 83
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 81
economic, environmental, social, and climate-related capacity development with 28 Compliance Champions serving as
and governance dimensions. This oversight programmes are presented in the Human ethics ambassadors. Their role is to
function ensures consistency between Resources section on page 92. [OJK E.2] strengthen and reinforce the Company’s
operational policies and the Company’s [GRI 2-17] commitment to integrity, ethical behaviour,
sustainability objectives. [GRI 2-14] [GRI 2-9] and a zero-tolerance policy toward
Anti-Bribery corruption and bribery across all levels
Medco Power operates within the of organisation.
sustainability framework established by Management System
MedcoEnergi. MedcoEnergi maintains a Medco Power maintains its commitment In 2025, internal audit evaluations of
Climate Governance Structure designed to conducting business in accordance ABMS were carried out at MEB, DEB ,
to support the transition toward cleaner with applicable legal requirements and ELB, and MRPR as part of the Company’s
energy systems. Within this structure, ethical standards. The Company’s annual compliance verification process
the Energy Transition Working Group approach includes implementation of and to drive continuous improvement,
includes representation from Medco the Anti-Bribery Management System supporting ongoing alignment with
Power’s Director and Chief Commercial & (ABMS) aligned with ISO 37001:2016 ISO 37001:2016 requirements
Business Development Officer (CCBDO), and certified accordingly. This system
reflecting the Company’s involvement in incorporates policies, procedures, and Risk Management
MedcoEnergi’s climate-related policy monitoring mechanisms designed to
Medco Power manages a range of
development and implementation. support prevent, detected and respond
operational safety, sustainability of supply,
to bribery and corruption.
and market-related risks inherent in its clean
Sustainability Competence and renewable energy portfolio through
Medco Power has implemented the
Development ISO 37001:2016 Anti-Bribery Management an integrated risk management framework
Building organisational capacity in System across its operations and designed to maintain reliable operations
sustainability remains a priority for subsidiaries, with certification maintained and uphold long-term value for stakeholders.
Medco Power in 2025. The Company through regular surveillance and These risks are identified and prioritised
recognises that effective oversight and recertification audits conducted by external by taking into account the Company’s
implementation of sustainability objectives certification bodies. ISO 37001 certification material topics, ensuring that key
require continuous development of was first achieved at Medco Power, EPE, sustainability issues are reflected in
knowledge and competencies at all levels MPE, BJI, and PPP in 2020, followed by the ESG risk considerations.
of the organisation, including the BOD, the issuance of ABMS certificates for
Risk assessment encompasses operational
senior management, and employees. MEB,DEB, ELB, TJBPS O&M in 2021, and
activities, projects, and products throughout
Throughout the year, internal and external MRPR in 2024. In 2025, Medco Power has
their lifecycle, including procurement,
competency development programmes successfully maintained these certifications
acquisition, operation, and eventual
were conducted to strengthen through assessment by the independent
decommissioning. The Company conducts
understanding of sustainability governance, certification body. Throughout the year,
risk assessments covering occupational
climate-related risks and opportunities, the Company upheld its ABMS framework
health and safety, transportation safety,
regulatory developments, and technical through proactive measures encompassing
process safety, and environmental aspects
capabilities relevant to the Company’s prevention, detection, response, and
using methodologies appropriate to the
operations. These initiatives aim to support continuous monitoring.
nature and scale of identified risks.
informed decision-making, effective risk
management, and consistent implementation To further reinforce a culture of integrity,
The following table presents ESG-related
of sustainability commitments across the the Company continued the implementation
risk mapping: [OJK E.3][OJK F.23][GRI 2-25]
organisation. Further details on sustainability of the Compliance Champion (CC) programme,
Aspect Material Topic Risk Potential Mitigation
Environment Emissions Decline of Air Quality • Carry out routine machine maintenance and utilisation of technology to
meet the emission regulations and policies.
• Planting trees.
• Routine monitoring of smokestack emissions and operational car emissions.
• Installing Continuous Emission Monitoring System (CEMS).
• Use of environmentally friendly fuel for operational cars.
• Utilisation of electric vehicle replacing partially the use of conventional
combustion car.
• Perform routine servicing for operational cars.
Occupational Increased noise • Carry out routine maintenance on machines that make noise.
Health and • Planting trees.
Safety • Use PPE on employees who work in high-noise areas.
• Carry out routine measurements for noise.
Page 84
2025 Management Business Company Corporate Sustainability
82 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Sustainability
Governance
Aspect Material Topic Risk Potential Mitigation
Environment Environmental Hazardous and toxic • Inventory of hazardous and toxic waste generated from operational activities.
Conservation Waste Pollution • Create a temporary landfill for hazardous and toxic waste in accordance
and Biodiversity with applicable regulatory provisions.
• Have an SOP for handling hazardous and toxic waste.
• Cooperate with third parties who have permits for the transportation and
processing of hazardous and toxic waste generated from operational activities.
Environmental Increase in domestic solid • Providing and placing rubbish bins in strategic areas that are easy to reach
Conservation waste generation for workers.
and Biodiversity • Segregate waste according to the type of waste by differentiating the
colour of the waste bins.
• Collaborate with third parties for further waste processing.
Economic Climate-related risk • Improving operational and maintenance targets.
Performance • Regular maintenance measures such as removing bore plugs, washing
offline water, and replacing filters.
• Optimising maintenance scheduling and enhancing operator training to
ensure consistent and reliable plant performance.
• Working with Original Equipment Manufacturers (OEM) to identify and
improve certain targets to enhance efficiency and operational effectiveness.
Social Local Opening of job opportunities • Ensure the realisation of the Company’s commitment to prioritise local
Communities and business opportunities workers and suppliers with a transparent recruitment process.
Local Increasing the carrying • Improving the condition of public infrastructure in operational and
Communities capacity of the local economy construction areas.
Local Capacity building in carrying • Synergise with relevant stakeholders and local communities for carrying
Communities capacity of the local economy capacity building to increase the local community economic potentials.
Local Increasing the potential and • Synergise with relevant stakeholders and local communities for carrying
Communities enthusiasm of local tourism capacity building to increase the local tourism potential.
Local Disruption of cultural heritage, • To respect and protect the local wisdom including cultural heritage.
Communities both tangible and intangible
Local Complaints from the • Providing a grievance mechanism or complaint channel that is easily
Communities public regarding accessible to the public.
the disturbances caused • Develop and implement a Community Grievance Redress Procedure to
ensure immediate response and resolution of complaints.
Local Disruption to public health, • Develop and implement programmes related to public health, safety,
Communities safety and security and security.
Local Decline in the livelihoods • Develop and implement a Livelihood Restoration Programme (LRP).
Communities of affected people
Governance Business Ethics The Occurrences of • Implement policies and procedures regarding Anti Bribery and Corruption.
corruption and bribery • Implement ISO 37001:2016 Anti-Bribery Management System (ABMS)
within the Company Certification at the Company’s Head Office and Subsidiaries EPE-MPE,
BJI-PPP, MEB-DEB, ELB TJBPS, and MRPR.
• Implement Gift & Entertainment and Government Hosting procedures as
well as monitoring and reviewing their implementation at the Head Office
& Subsidiaries.
• Carry out the Compliance Champion programme for each Subsidiary as an
extension of compliance at the Head Office.
• Carry out Fraud and Crime Risk Assessment (FRA), which is reviewed and
updated every year.
Business Ethics Potential Gratification • Conduct due diligence on vendors (Vendor Due Diligence).
with third parties • Conduct audits of third parties.
• Conduct Anti-Bribery and Corruption Audit education and communication
to contractors: Vendor Day, Contractor Forum, and Vendor Talk.
Business Ethics Potential conflict of interest • Employees submit a Statement of Adherence (SoA) each year, declaring
compliance and any potential conflicts of interest.
• Carry out communication and education to increase understanding of the risks
of conflicts of interest.
• Create maps and mitigate conflicts of interest in the Company.
Page 85
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 83
Stakeholder Involvement employees, business partners, communities, These engagement activities support
government entities, and other stakeholders relationship development and enable
Medco Power recognises that collaboration through communication channels and collaborative approaches to shared objectives
with stakeholders supports the Company’s dialogue processes designed to understand in social, economic, and environmental
operational objectives and business stakeholder perspectives and address sustainability. [OJK E.4][GRI 2-29]
sustainability. The Company engages with concerns related to company operations.
Methods and Frequency of Stakeholder Engagement
Stakeholders Company Response
Engagement Methods Main Issues
Government • Field visits as needed • Compliance with regulations • Comply with all government regulations
• Sudden meetings • Socialisation of regulations • Prepare reports for local and
• Annual reports and other reports central government
according to regulations • Pay obligations to the government
Communities • Socialisation consultation, and • Corporate social and environmental • Implement social and environmental
attendance at local activities responsibility responsibility programmes
• Mapping surveys, initial assessments, • Priority for local workforce and • Open up job and business opportunities
and community social monitoring business opportunities with a focus on local potential
• Involvement in the planning and • Respect for local culture and wisdom • Participating in efforts to protect and
implementation of CSR programmes • Management of social and preserve cultural heritage sites and
• Recruitment of local workforce environmental impacts respecting local customs
• Fulfilling commitments in the social
and environmental impact
management document
Supplier • Communication and meetings • Contract agreement • Reasonable and fair work
according to field visit requirement • Good cooperation contract agreement
• Timely payments • Good cooperation
• Appropriate payment
• Employment contract
Media • Hold media gathering events • Maintain relations with the media and • Expect balanced and accurate reporting
convey important information related • Maintain the Company’s image
to the Company’s activities
Local Coffee Development Programme, East Java
Page 86
2025 Management Business Company Corporate Sustainability
84 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Sustainability
Governance
Supply Chain Management To support transparency and ethical into strategic planning to support informed
procurement, Medco Power maintains and adaptive decision-making.
Medco Power recognises that a resilient supplier engagement initiatives, including
supply chain is essential to operational contractor forums and sharing SCM One key challenge relates to human capital,
continuity and long-term business e-Newsletter quarterly to all contractors, both internally and within surrounding
sustainability. The Company manages its which reinforce procurement practices communities. Strengthening sustainability-
procurement of goods and services based aligned with ISO 37001:2016 Anti-Bribery related competencies among employees
on efficiency, integrity, and the mitigation Management System (ABMS) and the and enhancing community capacity remain
of social and environmental impacts. Contractor Safety Management System important areas of focus. As described
(CSMS). In parallel, the Company provides on page 97, the Company continues to
Medco Power continues to implement implement structured competency
an online Requisition-to-Pay (R2P) system open access to procurement policies and
an independent whistleblowing channel. development programmes for employees
across all operational assets, supported by and community-based capacity building
an annually reviewed Procurement List Across all procurement activities, Medco
Power priorities local labour and domestic initiatives to support effective sustainability
and Integrated Planning Management. implementation.
Inventory efficiency is strengthened through suppliers while strengthening supplier
improved spare-part and scrap management capabilities through training, coaching,
As a power generation company,
procedures to reduce waste. and regular performance evaluations.
Medco Power also faces economic
considerations in advancing renewable
Suppliers are required to comply with Challenges in Implementing energy projects. Although capital costs
applicable regulations and uphold high Sustainability Aspects [OJK E.5] for technologies such as Solar PV have
standards of health, safety, and environment declined, relatively low electricity tariffs
(HSE), human rights, confidentiality, fair Operating within a dynamic business
environment and ongoing energy transition continue to influence project viability.
competition, and anti-corruption. Medco To address this, the Company focuses on
Power strictly prohibits child and forced presents evolving challenges for Medco
Power in implementing sustainability improving cost efficiency, optimising capital
labour and embeds these requirements in and operational expenditure, and engaging
supplier selection and contractual agreements commitments. Guided by the Company’s
Sustainability Strategy (page 74), and with relevant stakeholders to support tariff
through the Code of Conduct. The Company structures that enable renewable energy
continues to implement its integrated as outlined in the risk mapping section
(page 79), these challenges are projects to remain financially sustainable
Human Rights and Sustainability Policies and competitive.
to reinforce supplier commitments. systematically assessed and integrated
Number of Local Suppliers [GRI 204-1]
2023 2024 2025
Type of Suppliers
Total % Total % Total %
Local Suppliers 284 95 312 96 361 96
Foreign Suppliers 15 5 14 4 15 4
Total 299 100 326 100 376 100
Notes:
• A local supplier is defined as a supplier originating from Indonesia.
• A qualified supplier is defined as a supplier that has undergone the Supply Chain Management (SCM) process, with the R2P system fully implemented across all operating assets
since 2023.
Women’s empowerment training programme, Riau
Page 87
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 85
Sustainable Economic
Performance [OJK F.17] [GRI 3-3]
Medco Power’s sustainable economic Economic Value disclosures include information on financial
performance reflects its ability to generate support from the government. During 2025,
economic value through reliable operations
Generated and Distributed Medco Power received financial assistance
in clean and renewable energy. Through The Company reported revenue of in the form of a grant from the U.S. Trade
steady progress and measured business Rp2.93 trillion in 2025, a decrease of Rp0.34 and Development Agency (USTDA) to
growth, the Company supports national trillion compared to the previous year, and support a feasibility study for the development
economic development while contributing profit for the year of Rp243.14 billion. of an approximately 111 MW wind power
to the energy transition. Revenue from electricity delivery and plant in West Sumbawa, West Nusa Tenggara,
operation and maintenance services as part of the Company’s renewable energy
With more than 20 years of experience, increased, reflecting the Company’s portfolio. In addition, Ijen Geothermal
Medco Power contributes to meeting the transition toward a more stable, recurring, IPP obtained a corporate income tax
essential need for electricity by supplying and sustainable operating profile. However, reduction facility based on the Decree of
affordable and accessible power from clean this increase was outweighed by lower the Minister of Finance of the Republic
and renewable energy sources. Supported construction revenue following the of Indonesia No. 6/TH/PMA/2025, which
by reliable operation and maintenance completion of major project development provides a 100% corporate income tax
services, the Company delivers stable phases, resulting in overall decline reduction for seven fiscal years from the
electricity that provides long-term benefits in revenue. commencement of commercial operations,
to customers, communities, and other followed by a 50% reduction for the subsequent
stakeholders, while supporting national In line with the Company’s commitment two fiscal years. [OJK B.1] [GRI 201-4]
economic growth and the energy transition. to transparency and accountability,
Description 2023 2024 2025
Economic Value Generated [GRI 201-1]
Revenue 4,321.57 3,271.30 2,931.99
Other Income 179.78 167.41 271.95
Interest Income 80.16 75.31 135.19
Total 4,581.51 3,514.02 3,339.13
Economic Value Distributed
Operational Costs (Sales, General and Administrative Expenses 3,381.94 2,259.67 1,693.18
excluding Salaries and Allowances)
Employee Salaries and Allowances 380.09 425.44 429.27
Dividend Payments 66.51 92.83 112.16
Community Investment 4.94 2.56 3.52
Payment of Income Tax to the Indonesian Government 149.85 60.91 131.41
Total 3,983.33 2,841.41 2,369.54
Economic Value Retained
Economic Value Retained 598.18 672.61 969.5
Production and Sales Comparison of Production Targets and Performance Across Portfolio, Financing,
Revenue, and Profit [OJK F.5]
Performance
Medco Power continued to deliver Electricity Revenue Operating Profit
Description
reliable operations in supplying electricity Production (GWh) (Rp billion) (Rp billion)
to support Indonesia’s energy demand, 2025 4,371 2,931.99 243.14
while embedding sustainability principles
in its activities. Through ongoing efforts 2024 4,108 3,271.30 (108.39)
to improve operational efficiency and 2023 4,155 4,321.57 12.57
encourage innovation, the Company
seeks to achieve production and sales Comparison of Investment Targets and Performance for Sustainability-Aligned Initiatives
performance that is consistent with [OJK F.3]
its business objectives.
Description Target Realisation
2025 US$40.9 million US$34.6 million
2024 US$96 million US$69.5 million
2023 US$110 million US$71 million
Page 88
2025 Management Business Company Corporate Sustainability
86 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Environmental
Performance [OJK B.2] [GRI 3-3]
Medco Power recognises that responsible To achieve environmentally responsible In line with the Climate Change Risk
environmental stewardship is fundamental and sustainable operations, Medco Power Assessment disclosed in the previous
to long-term business success and societal applies comprehensive environmental chapter, Medco Power also manages
well-being. As a power company operating management practices, performance transition risks, including emission
across Indonesia, the Company integrates indicators, and ongoing initiatives across reductions through low-carbon initiatives.
environmental considerations into strategic several key areas: climate action and All of which directly inform the environmental
decision-making and daily operations, low-carbon transition, environmental management systems and operational
balancing the growing demand for reliable management and performance, energy practices detailed in subsequent sections.
power with the imperative to protect and emissions management, and resource
natural ecosystems. management and conservation. Through The Company has set targets for
these efforts, Medco Power supports the renewable energy integration, aiming
Medco Power believes that environment broader Sustainable Development Goals for a New and Renewable Energy (NRE)
is a dynamic system that connects climate, by promoting sustainable operations and mix of 26% in 2025 and 30% by 2030.
natural resources, and ecosystems that responsible resources management. These targets reflect both commercial
support both human well-being and opportunity and environmental
business activities. In this context, Climate Action Through responsibility as Indonesia accelerates
Medco Power is committed to maintaining its energy transition.
ecosystem balance while minimising the Low-Carbon Transition,
environmental impacts of its operational Innovation, and Partnership The low-carbon transition strategy
activities. Medco Power applies an [GRI 3-3] translates the optimisation of core
environmental management approach competencies and continuous innovation
Building on the Company’s foundational into defined development pathways that
that incorporates planning, monitoring, commitment to environmental stewardship,
and oversight across its operations. These shape the Company’s generation portfolio.
Medco Power has adopted a Climate Change The table below presents past and ongoing
processes help the Company to identify Strategy aligned with MedcoEnergi’s
potential impacts, manage environmental projects that demonstrate the Company’s
corporate framework, focusing on the innovation and progress in supporting a
risks, and align day-to-day activities with pathway toward Net Zero Emissions (NZE).
applicable regulations and standards. low-carbon transition. [OJK F.26]
East Bali Solar PV, Bali
Page 89
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 87
Power Plant Description
Gas to Power • MRPR – 275 MW (COD 2022) 1,458 GWh power sales
(Expanding Footprint) • ELB Expansion – 109 MW (COD November 2025) Increased capacity from 70 MW to
109 MW, converting simple cycle to combined cycle
Geothermal • Sarulla – 330 MW (COD 2018) 686 GWh power sales
(New Greenfield Development) • Ijen – 110 MW (COD February 2025) Unit 1 35 MW
• Ijen – Capacity Expansion for Unit 2 and 3 to ~100 MW
• Bonjol (Exploration underway) 60 MW
• Samosir – New geothermal exploration (PSPE) near Sarulla Operations
Solar PV • Sumbawa – 26 MWp (COD 2022) 38 GWh power sales
(Pursuing Projects with Larger Scale) • East Bali – 25 MWp (COD July 2025)
Throughout 2025, Medco Power also Environmental Performance • Facility Management: Office and
strengthened industry engagement by Recognition administrative facilities apply energy
participating in key forums to share insights efficiency principles, while vehicle
In 2025, Medco Power achieved
and learn from industry peers, where the fleets are gradually incorporating
notable recognition for its environmental
Company presented its sustainability lower-emission technologies where
management practices. PT TJB Power
framework, discussed implementation operationally feasible.
Services (TJBPS), where Medco Power
challenges, and explored collaborative
provides an Operation & Maintenance Environmental Investment [OJK F.4]
approaches to accelerating the clean energy
(O&M) services contract obtained
transition. These engagements included: In 2025, Medco Power allocated
Green PROPER award.
approximately Rp11.2 billion toward
• Indonesia International Geothermal
The award ceremony, held in Jakarta environmental programmes, monitoring,
Convention & Exhibition (IIGCE)
on February 24, 2025, was attended training, and management activities.
• Indonesia International Sustainability
by the Minister of Environment and This investment reflects the Company’s
Forum (IISF)
Head of the Environmental Management recognition that environmental performance
• Indonesia Private Power Producer
Agency. TJBPS, as the operations and (from the climate initiatives described
Association (Asosiasi Pengembang Listrik
maintenance company managing TJBPS earlier to the resource management
Swasta Indonesia/APLSI) advocacy forum
Units 1&2 Power Plant, demonstrated practices detailed ahead) requires dedicated
• Singapore International Energy Week (SIEW)
that environmental excellence requires resources and technical capability.
• Indonesia’s National Electricity Day
sustained operational discipline and
Environmental Management continuous improvement across multiple Energy and Emissions
and Performance
performance dimensions. Management
The Company views these assessments as Energy Consumption and Efficiency
Environmental Management System
opportunities for continuous improvement [OJK F.6] [OJK F.7] [GRI 302-1] [GRI 302-3]
[GRI 3-3] rather than endpoints, using the evaluation
The climate strategy and transition
The climate commitments and transition criteria to identify enhancement opportunities
initiatives outlined earlier manifest most
initiatives described above require robust in areas such as energy efficiency, emissions
directly in the Company’s energy profile.
operational systems to ensure effective control, and community engagement
Medco Power continuously evaluates
implementation. To support this, Medco Power across the broader asset portfolio.
energy efficiency across operational
operates an Environmental Management
Use of Environmentally facilities while expanding renewable
System across all facilities, ensuring
Friendly Materials [OJK F.5] generation capacity. In 2025, the
consistent application of environmental
Company consumed 15,668,893.59 GJ
standards and regulatory compliance, While the Company’s primary of total energy while producing
with Medco Power Indonesia certified under environmental footprint stems from 3,318,927.06 MWh of electricity, resulting
ISO 14001:2015. Therefore, the management power generation activities, Medco Power in an energy intensity of 4.72 GJ/MWh.
system aligns with this standard, providing has implemented practical measures to
a structured approach to identifying, reduce the environmental impact of
assessing, controlling, and monitoring non-generation activities:
environmental performance.
• Material Consumption: Single-use
The Environmental Management System plastics have been eliminated from
serves as the operational backbone for all office environments, replaced with
environmental initiatives discussed in this reusable glassware and employee-owned
chapter, from emissions monitoring protocols containers. Paper consumption is
to water management procedures and waste managed through double-sided printing
handling systems. The framework enables policies and internal reuse of printed
the Company to translate strategic climate materials where appropriate.
commitments into daily operational discipline.
Page 90
2025 Management Business Company Corporate Sustainability
88 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Environmental
Performance
Description Energy Source 2023 2024 2025
Subsidiary Consumption of Non-Renewable Energy (GJ) 25,226,144.25 24,567,004.41 26,603,346.61
Consumption of Renewable Fuel (GJ) 570.08 434.40 3,522.52
Electricity Consumption (GJ) 6,070.45 6,674.40 17,550.86
Total Energy Sold (GJ) 10,132,680.46 10,005,930.07 12,270,750.05
Total Energy Consumption (GJ) 15,107,453.78 14,568,183.34 15,668,893.59
Total Production (MWh) 2,818,280.18 2,783,552.35 3,318,927.06
Energy Intensity per Production (GJ/MWh) 5.36 5.23 4.72
Energy Use Based on Energy Source Total Emissions Generated (Scope 1 and Scope 2) [OJK F.1][GRI 305-1][GRI 305-2]
[OJK F.6][GRI 302-1][302-3] Year Total Emissions Generated (tCO2e)
The Company generated 25% of total 2025 1,504,589.24
electricity from renewable energy sources
during 2025, reflecting progress toward 2024 1,379,610.21
the NZE targets established in the climate 2023 1,418,190.55
action and low-carbon strategy section.
This proportion includes geothermal,
hydroelectric, and solar generation across GHG Emissions intensity [OJK F.11][GRI 305-4]
Medco Power’s operational portfolio, each Description Unit 2023 2024 2025
with distinct resource requirements and
environmental considerations explored in Total GHG Emissions ton CO2e 1,416,624.90 1,379,610.21 1,504,589.24
the resource management section. Generated
Total Production MWh 2,818,280.18 2,783,552.35 3,318,927.06
Greenhouse Gas Emissions
GHG Emission ton CO2e/ 0.50 0.50 0.45
[OJK F.11] [OJK F.12] [GRI 305-1]
Intensity per MWh MWh
[GRI 305-2] [GRI 305-4]
of Power Produced
Greenhouse gas emissions constitute one
of the sources of environmental impacts
associated with power generation and
Nitrogen Oxides, Sulphur Oxides, and Other Air Emissions
remain a central focus of Medco Power’s Emission/Pollutant Unit 2023 2024 2025
climate strategy. To support accurate and
SOx ton 172.3 371.43 625.06
consistent reporting, the Company calculates
its emissions using Medco’s Air and GHG NOx ton 7,315.50 6,547.48 10,525.13
Emissions Calculation Tools, which are NH3 ton – – 0.06
aligned with established methodologies,
including the 2006 IPCC Guidelines for H2S ton – – 184.51
National Greenhouse Gas Inventories, Particulate Matter ton 523.01 634.07 812.95
Indonesia’s National GHG Inventory
Implementation Guidance (Book II –
Volume 1, 2012), the GHG Protocol Corporate
Standard (WBCSD/WRI, 2004), ISO 14064- GHG Emissions Reduction and Control affect local air quality. Nitrogen oxides (NOx),
1:2006, and the American Petroleum sulphur oxides (SOx), and particulate matter
In 2025, Medco Power emitted
Institute (API) Compendium (2009). (PM) are monitored through environmental
1,504,589.24 tons CO2eq from Scope 1
management programmes aligned with
Scope 3 Emissions Development (direct) and Scope 2 (indirect) sources,
the Environmental Management system.
representing a increase of 9.06% compared
[GRI 305-3] Emissions testing and reporting are carried
to 2024 [OJK F.12]. This increase is lower
Recognising that climate action requires out in accordance with Environmental
than the growth in electricity production,
understanding impacts across the entire Management and Monitoring Plans for each
which rose by around 20% during the year,
value chain, The Company continues to facility, and Continuous Emission Monitoring
reflecting a 9.06% reduction in emission
measure and disclose its Scope 3 emissions. Systems (CEMS) are also used to support
intensity. In other words, improved efficiency
Medco Power has disclosed its relevant online and consistent monitoring of key air
helped moderate the rise in total emissions
Scope 3 category, particularly Category 3 pollutants. Starting in 2025, Medco Power
despite higher generation output.
for the power sector. The Company has also reports hydrogen sulphide (H2S) and
not established a Scope 3 reduction target Air Emissions Management [GRI 305-7] ammonia (NH3) emissions from the operation
at this time and remains focused on of the Ijen Geothermal IPP, reflecting
While greenhouse gases represent the the specific emission characteristics of
maintaining accurate and reliable reporting. primary climate concern, electricity generation geothermal power generation.
also produces criteria air pollutants that
Page 91
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 89
Resource Management recycling, treatment, and finally disposal protect both the ecosystem and the
through licensed contractors. [GRI 306-2] employees. Throughout 2025, Medco
and Conservation Power recorded zero spill incidents across
Waste Management Each operational site maintains temporary all operational locations, reflecting the
storage facilities for hazardous waste, effectiveness of preventive protocols and
Moving from emissions management to designed and operated according to the employee training. [OJK F.15]
physical resource stewardship, the procedures established within the
Company’s environmental management environmental management framework. Additionally, in an effort to leverage the
system extends to comprehensive waste Waste is periodically transported and awareness of waste management, the
handling across all operational sites. Medco managed by contractors holding valid Company also organised a webinar focused
Power applies an integrated waste permits from the Ministry of Environment on strengthening internal awareness of
management approach addressing both and Forestry. [OJK F.14] responsible waste management practices.
hazardous and non-hazardous waste Medco Power Indonesia conducted an
streams in compliance with Indonesian The Company also implements spill internal Enviro Webinar titled
environmental regulations. The Company prevention and response procedures to “Understanding Waste Types from
follows a hierarchical approach prioritising minimise environmental risk from chemicals Domestic to Industrial”, which aimed to
waste prevention, followed by reuse, and hazardous materials and protocols that enhance employees’ understanding of
waste classification, source segregation,
and environmentally responsible handling
Total Waste Generated Based on Management Method [OJK F.13] practices across daily activities and
Description Unit 2023 2024 2025 operational processes. The webinar
engaged more than 100 participants from all
Hazardous and Toxic Waste subsidiaries, promoting the implementation
Generated ton 101 50 90 of 3R (Reduce, Reuse, Recycle) principles
and introducing circular economy concepts
Third-Party Transportation ton 94 50 90 as part of the Company’s long-term waste
Non-Hazardous and Toxic Waste reduction strategy. This initiative was
aimed to reinforce regulatory compliance,
Generated ton 74 78 166
support environmental risk mitigation, and
Local Storage ton 0 0 1 strengthen internal competencies in line with
Sent to Third Party ton 74 78 165 the Company’s ESG commitments.
Cibalapulang Mini-hydro, West Java
Page 92
2025 Management Business Company Corporate Sustainability
90 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Environmental
Performance
Water Stewardship
Medco Power manages water resources
in line with the Company’s SMK3LL policy,
which guides the responsible use of water
across operational activities. In daily
operations, water is sourced from surface
water, groundwater, and recycled streams,
with all withdrawals conducted in
accordance with applicable environmental
permits and regulations. The Company
applies measured withdrawal practices to
help ensure that operational needs do not
interfere with community water access or
local ecosystem balance.
To reduce dependence on processed
water, several operational sites apply water
recycling measures, including reinjection
methods and rainwater harvesting.
Wastewater generated from operations MRPR Gas-fired, Riau
is treated through dedicated wastewater
treatment facilities before discharge,
ensuring compliance with environmental
quality standards and minimising the
Watershed Rehabilitation of BPDASHL Indragiri Rokan and
potential for pollution. Medco Power
BP2SDM Region II. An evaluation
continues to observe the effects of water Medco Power through MRPR, successfully
conducted in mid-2025 confirmed the
withdrawal, use, and discharge on both completed a Watershed Area Rehabilitation
programme’s success, achieving a plant
the surrounding environment and nearby (DAS) programme within the Bukit Suligi
growth rate of 94.87%, exceeding the
communities. [GRI 303-1] Training Forest (KHDTK) in Rokan Hulu
standard set by KLHK. The rehabilitated
Regency, Riau Province. Implemented in
In 2025, total water use reached area was officially handed over in
accordance with Forest Area Utilisation
423,228.92 megalitres, reflecting an October 2025 and will be managed
Permit (IPPKH) No. SK.891/Menlhk/Setjen/
increase compared with 2024. Changes under the Social Forestry programme.
PLA.0/10/2019 issued by the Ministry of
in withdrawal levels during the year Environment and Forestry (KLHK), the Looking ahead, the initiative will continue
correspond to productions and operational programme reflects the Company’s through capacity-building support for
needs across Medco Power’s power commitment to supporting forest ecosystem Social Forestry Business Groups (KUPS),
generation assets, particularly in BJI and restoration and regulatory compliance. reinforcing ecological sustainability while
PPP, as well as ELB. Total figures for water
creating socio-economic value for
intake, disposal, and consumption are Over a three-year implementation period,
surrounding communities in support
presented below: rehabilitation activities were carried out
of sustainable energy development.
across 3.8 hectares under the supervision
Total Water Intake, Disposal, and Consumption [OJK F.8][GRI 303-3]
Description 2023 2024 2025
Water Intake (Freshwater) Groundwater (ML) 3.15 2.25 2.26
Based on Source
Surface Water (ML) 195,640.54 255,008.94 314,819.60
Water from Third Parties (ML) 1.20 94.2 100.72
• Total Water Intake 195,644.89 255,105.38 314,922.57
Water Disposal (Freshwater) Groundwater (ML) 3.99 4.14 3.27
Based on Disposal Destination
Surface Water (ML) 194,645.86 253,971.85 312,965.84
Water Distribution to Third Parties (ML) 0 0 0.03
• Total Water Discharged (ML) 194,649.85 253,975.99 312,969.82
Water Consumption Total Water Consumed (ML) (a-b) 995.04 1,129.39 1,952.76
(total water intake – total water discharged)
Page 93
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 91
Biodiversity Preservation Inspiring Student Awareness and Environmental Complaints
Action for Biodiversity Conservation [OJK F.16]
The final dimension of resource
management addresses the ecosystems [OJK F.10] Effective environmental management
within which power facilities operate. MRPR conducted a biodiversity campaign at requires open channels for feedback and
Several Medco Power facilities operate three schools along the gas pipeline route accountability. The Company maintains
within or adjacent to forested areas, (SDN 1 Kuala Gasib, SMPN 2 Tualang, and accessible pathways for environmental
necessitating careful ecosystem management SMAN 4 Tualang), reaching 170 students. feedback and concerns, allowing community
that complements the climate action The programme focused on raising members and stakeholders to submit
initiatives described at the beginning of awareness about biodiversity conservation inquiries or complaints through the designated
this chapter. The Company holds Forest and endangered species protection, email: corsec.mpi@medcoenergi.com.
Area Borrow-Use Permits (IPPKH) covering particularly Pangolins and Siamangs native
1,306.31 hectares in total across MRPR to the Riau (Gas-fired IPP) area. Activities During 2025, Medco Power received zero
(817.01 ha) and Ijen assets (219.3 ha), included pre-assessments, interactive environmental inquiries, all of which were
authorising specific land use while sessions with animated videos, and drawing addressed through investigation, testing,
requiring conservation commitments. competitions, supporting Sustainable or clarification within established timelines.
[OJK F.9][GRI 304-1][GRI 304-2] Development Goals 13 (Climate Action) and The Company views community engagement
15 (Life on Land). as an essential component of environmental
accountability, particularly for facilities
located near residential areas where the
impacts discussed in this chapter, emissions,
water use, and waste management can
directly affect local populations.
Ijen Geothermal, East Java
Page 94
2025 Management Business Company Corporate Sustainability
92 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Human Resources
Management Performance [OJK B.3] [GRI 3-3]
Medco Power recognises that its people are essential to its vision of becoming a leading The key human resources management
fundamental to achieving operational provider of environmentally friendly energy. policies that shape Medco Power’s
excellence and driving the Company’s clean approach include:
and renewable energy transformation. As Human Resources
the backbone of Medco Power’s operations, 1. Providing equal, non-discriminatory
Strategy and Policy opportunities for employees to develop
the workforce plays a critical role in
executing clean and renewable energy As Medco Power continues its their competence and career.
projects, navigating market challenges, and transformation, human resources 2. Providing wages above the government
positioning the Company as a key player in form a key catalyst in strengthening minimum and additional benefits.
Indonesia’s energy transition. the Company’s operations and culture. 3. Providing employees with their entitled leave.
Strategies and policies for human 4. Providing and paying Religious Holiday
In 2025, Medco Power entered a phase of resource management support this Allowances no later than 14 days before
organisational transformation to strengthen process by encouraging accountability, the respective holiday.
operational excellence, improve project collaboration, and consistent performance 5. Ensuring equal employment opportunity
delivery, and optimise costs as part of its across the organisation. Human resources on hiring process and prohibition on
long-term sustainability strategy. Amid management is also structured to help employing minors.
challenging market conditions, these employees build the skills needed to
improvements are supported by stronger respond to business challenges and the Human Resource Demographics
governance and better integration of planning demands of a dynamic, competitive industry. [OJK C.3][GRI 2-7][GRI 2-8]
and execution processes, ensuring the
In line with this direction, the Company Medco Power continues to maintain
Company remains resilient and competitive.
strives to cultivate a comfortable, healthy, a workforce profile that reflects its
As part of this broader transformation, the and inclusive work environment while operational needs and commitment to
Company is also strengthening its upholding employee rights and equality. diversity and inclusion. Understanding
organisation and culture by emphasising Through this approach, employees the composition of the workforce helps
accountability, collaboration, and contribute not only to day-to-day work the Company plan talent development,
performance orientation. The Company but also to the Company’s broader vision strengthen capability, and respond to changing
ensures that all employment practices and mission for growth and sustainability. business demands.
remain inclusive, fair, and sustainable, These efforts also reinforce employee
As of December 31, 2025, the Company
recognising that human resources are a retention and engagement and support
employs 1,037 personnel. The breakdown of
key asset in supporting its growth. the development of a competent,
employees by job level, employment status,
Medco Power believes that a competent, high-quality workforce that contributes
educational background, age group, and
diverse, and highly competitive workforce is positively to overall performance.
gender is presented in the tables below.
Employee Composition by Position Level
2023 2024 2025
Position Level
Total % Total % Total %
Director 4 0.40 7 0.69 7 1
Senior Executive 32 3.55 32 3.16 36 3
Manager 77 8.55 85 8.39 81 8
Supervisor 147 16.32 188 18.56 214 20
Officer 645 71.59 708 69.89 706 20
Total 905 1,020 1,044
Employee Composition by Employment Status Level
2023 2024 2025
Employment Status
Total % Total % Total %
Permanent 744 82.57 758 74.83 813 78
Contract 157 17.43 255 25.17 224 22
Total 901 1,013 1,037
Note: Total employees excluding Director level.
Page 95
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 93
Employee Composition by Education Level
2023 2024 2025
Education
Total % Total % Total %
Bachelor’s degree and Above 544 60.38 634 62.59 661 64
Diploma 144 15.98 164 16.19 178 17
High School and Equivalent 213 23.64 215 21.22 198 19
Total 901 1,013 1,037
Note: Total employees excluding Director level.
Employee Composition by Age
2023 2024 2025
Age
Total % Total % Total %
>50 Years Old 91 10.10 106 10.46 127 12
40-49 Years Old 291 32.30 316 31.19 327 32
30-39 Years Old 299 33.19 342 33.76 352 34
<30 years Old 220 24.42 249 24.58 231 22
Total 901 1,013 1,037
Note: Total employees excluding Director level.
Employee Composition by Gender
2023 2024 2025
Gender
Total % Total % Total %
Male 790 87.68 887 87.56 905 87
Female 111 12.32 126 12.44 132 13
Total 901 1,013 1,037
Note: Total employees excluding Director level.
Labour Practices and Through this approach, the Company giving every employee the opportunity to
strengthens responsible employment grow professionally and contribute to the
Responsible Employment practices that support a positive work organisation. As can be seen in the
Labour practices are an important element environment, reinforce employee employee demographics in pages 96 and
of Medco Power’s commitment to building confidence, and contribute to long-term 97, the Company continues to maintain a
a resilient, efficient, and competitive clean organisational performance. diverse workforce across various roles and
and renewable energy company. As the backgrounds. Medco Power views this
Company aligns its operations with shared As part of its responsible employment diversity as an important part of its
business goals and sustainability priorities, approach, Medco Power also upholds workplace and remains committed
it continues to apply employment practices human rights principles by adopting to preventing discrimination in all aspects
that are inclusive, fair, and sustainable MedcoEnergi’s Human Rights Policy of employment. [OJK F.18]
across the organisation that prohibits the employment of
individuals below the legal working age Human resources processes are applied
Medco Power complies with all and rejects any form of forced labour. through clear and competency-based
employment provisions set out in This commitment reflects the Company’s procedures that promote fairness and
Indonesian laws and regulations, including effort to maintain integrity in its operations respect for all employees, regardless of
Law No. 13 of 2003 and Job Creation Law and to provide a work environment their personal identity or background.
No. 11 of 2020 (Undang Undang Cipta Kerja/ consistent with sustainability values These procedures guide recruitment,
UUCK). This compliance covers the entire and regulatory standards. [OJK F.19] career progression, performance reviews,
employee journey, starting from recruitment training and development, and reward
and onboarding, followed by employee Equality and Equal Opportunities programmes. The Company also upholds
management, and extending to remuneration employee rights by creating a work
Medco Power manages its human resources
and the fulfilment of employee rights. environment that reflects fairness and
in a way that reflects its sustainability values,
responsible employment practices.
Page 96
2025 Management Business Company Corporate Sustainability
94 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Human Resources
Management Performance
To support positive industrial relations, The remuneration system includes performance- employees’ long-term social and economic
Medco Power implements the Company based pay and comprehensive benefits security after retirement.
Regulation at its Head Office and across that exceed the provincial minimum wage
several subsidiaries as the overarching (Upah Minimum Propinsi/UMP) in Indonesia. The Company participates in national
framework governing employment The Company ensures that employees at pension schemes administered by BP
practices throughout the organisation the lowest organisational level receive Jamsostek, namely the Old Age Security
In addition, certain subsidiaries apply wages on average 156% of the Minimum Programme (JHT) and the Pension Security
Collective Labour Agreement (Perjanjian Wage established by local governments, Programme (JP), which are mandatory for
Kerja Bersama/PKB) [GRI 2-30] in accordance demonstrating Medco Power’s commitment all employees. Medco Power contributes
with prevailing labour regulations, ensuring to providing competitive compensation that 3.7% to the JHT programme and 2% to the
the protection of both employee and supports employee well-being and retention. JP programme. In addition, the Company
Company interests. These agreements offers a voluntary defined contribution
provide a basis for ongoing communication Comprehensive benefits include health pension scheme through the Financial
and cooperation through regular insurance for employees and dependants, Institution Pension Fund (DPLK), with a
engagement activities. life and accident insurance, retirement Company contribution of 4% to support
benefits, annual and parental leave, and employees who choose to participate.
Welfare and Remuneration various allowances for transportation,
meals, communication, and housing where Through the provision of pension benefits
Medco Power maintains a transparent and applicable. Additional welfare programmes beyond statutory severance entitlements,
equitable remuneration system that ensures support employee well-being through health Medco Power seeks to support employees’
the employees receive compensation screenings, medical facilities access, and financial preparedness for retirement.
meeting or exceeding the minimum employee assistance resources. [OJK F.20] These arrangements reflect the Company’s
wage applicable in their operational areas. responsibility to provide a sense of security
The Company’s remuneration philosophy Pension Fund [GRI 201-3] and long-term financial stability for its
recognises that employee welfare directly workforce, while reinforcing its broader
Beyond the pension benefit disclosed above,
contributes to organisational performance commitment to sustainable and
Medco Power emphasises the role of its
and business sustainability. responsible employment practices.
pension fund as a key mechanism in ensuring
Comparison of Lowest Level Employee Wages with Minimum Wage
Operational Location Percentage/Comparison to UMP
Jakarta 134%
West Java 157%
South Sumatera 103%
Riau Islands 147%
Bali 109%
West Nusa Tenggara 185%
Central Java 231%
East Java 225%
North Sulawesi 111%
North Sumatera 155%
Allowances Provided to Permanent and Contract Workers [GRI 401-2]
Allowances Permanent Employee Contract Employee
Life Insurance Yes Yes
Health Insurance Yes Yes
Maternity Leave Yes Yes
Healthcare Yes Yes
Preparation for Retirement No No
Religious Holiday Allowance Yes Yes
Pension Yes No
Work Accident Insurance Yes Yes
Death Insurance Yes Yes
Page 97
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 95
Work-Life Balance encouraging engagement, and supporting employees as they
navigate the demands of a dynamic and competitive industry.
As Medco Power strengthens its organisation and people practices,
supporting employees’ overall well-being remains an important part To promote this balance, Medco Power provides policies,
of its human resource approach. The Company recognises that programmes, and facilities that help employees manage their
sustainable performance is closely linked to employees who are professional responsibilities alongside personal and family needs.
physically healthy, mentally resilient, and personally fulfilled, both Through these efforts, the Company aims to foster a healthy
inside and outside the workplace. Work-life balance therefore and positive workplace culture that contributes to long-term
becomes an essential element in maintaining productivity, performance and employee retention.
Synergy Day Medco Active Movement
Medco Synergy Day 2025 brought together nearly 7,000 A series of sports activities was conducted under the
employees and their families at Indonesia Arena, Jakarta, as Medco Active Movement 2025 initiative to promote a healthy
part of MedcoEnergi’s 45th anniversary celebration. Participants and active lifestyle while strengthening employee engagement
represented both domestic and international assets, including across operational regions. The programme began with a
Medco Power, reflecting the Company’s integrated and Body Combat session on October 30, 2025, attended by more
collaborative workforce across business segments. The event than 70 participants, followed by a Yoga session on November 6,
provided an opportunity to recognise employee contributions 2025 at The Energy Building, Jakarta. These sessions were
and strengthen engagement throughout the organisation. facilitated by professional trainers and aimed to enhance physical
fitness and overall well-being.
placeholder image
Energy Run Safari Ramadhan
Energy Run 2025 was held to commemorate 45 years of The programme was conducted across four strategic assets,
MedcoEnergi and 17 years of The Energy Building. The event including Ijen Geothermal IPP. The initiative provided an
brought together more than 1,200 participants, consisting of opportunity for management to engage directly with Leadership
employees and tenants, including representatives from Medco Teams and employees, review ongoing projects, and discuss
Power. The programme featured a 5K Fun Run aimed at operational priorities and challenges at each location. These
promoting employee engagement, teamwork, and a healthy discussions supported alignment on strategic objectives and
lifestyle within the workplace community. The event also served strengthened communication across organisational levels.
as a platform to strengthen collaboration across business units In the event, management conveyed appreciation for the
and reinforce a shared sense of purpose. dedication and performance of employees throughout Ramadan,
reinforcing the importance of collaboration and shared commitment
in achieving operational targets.
Employee Appreciation
The Employee Service Award is an annual initiative conducted
by PT Medco Power Indonesia to honour employees who have
served the company for 5 years, 10 years, and subsequent
milestones. This recognition reflects the company’s appreciation
for the loyalty, dedication, and contributions demonstrated
by its employees throughout their professional journey.
Through this award, the company reaffirms its commitment
to valuing every individual as an integral part of the organisation’s
success. The programme also reflects Medco Power’s culture of
respect, unity, and recognition of long‑term contributions that
help shape and strengthen the company’s continued growth.
Page 98
2025 Management Business Company Corporate Sustainability
96 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Human Resources
Management Performance
Employee Recruitment New Employees Based on Gender
and Career Development Gender 2023 2024 2025
Medco Power supports its organisational Female 15 15 8
needs by attracting and developing
Male 114 163 71
competent and integrated workers who
align with the Company’s operational and Total 129 178 79
long-term direction. Recruitment is carried
out through a structured and transparent New Employees Based on Age Group
process that focuses on placing the right
Age Group 2023 2024 2025
people in the right roles. In line with
the Company’s values, the process is <30 Years Old 79 98 41
implemented fairly and provides equal
30-50 Years Old 50 76 37
opportunities for all applicants.
>50 Years Old 0 4 1
Candidate evaluations include
Total 129 178 79
administrative screening and
competency-based assessments,
supported by interviews and input from New Employees Based on Region
relevant supervisors. This approach Region 2023 2024 2025
helps the Company identify individuals
who meet the requirements of each Jakarta 15 14 10
position and have the potential to continue Outside of Jakarta 114 164 69
developing their capabilities over time.
Total 129 178 79
Career development is also an important
component of Medco Power’s human
resource approach. The Company fosters
a work environment that supports individual Additionally, as part of the Company’s to the Operating Philosophy, and the
growth by offering learning opportunities Operational Excellence (OE) framework establishment of Batam Asset Engineering
such as training programmes, certifications, which focuses on People, Medco Power by integrating ELB, MEB, and DEB teams
and mentoring. Employees are encouraged Indonesia strengthened workforce to improve technical support and reduce
to strengthen their competencies and capability and reliability across its duplication. To strengthen leadership and
prepare for the evolving needs of the assets. A competency assessment was accelerate OE maturity, all Batam Assets
clean and renewable energy industry. conducted for operators and technicians managers and supervisors participated
Medco Power also provides pathways at MRPR, MEB, DEB, and BJI to in a Leadership Training programme in
for advancement through job rotations, support targeted talent development. December 2025.
promotions, and involvement in A Reliability Improvement Task Force
(RITF) was deployed to MRPR, providing Under the OE pillar on standardised
strategic projects that broaden processes and tools, Continuous
professional experience. on-site coaching, mentoring, and practical
assignments, alongside updates to Improvement (CI) workshops were
The Company continues to promote Work Instructions (WIs) and Standard conducted at MRPR and Batam Assets.
a culture of ongoing learning by giving Operating Procedures (SOPs) in line Initiatives were executed using the
employees access to the resources and with best practices. Define-Measure-Analyse-Improve-Control
training needed to enhance their skills. (DMAIC) methodology, complementing
Through this approach, Medco Power builds Operational effectiveness was the PDCA cycle by providing a structured,
a capable and adaptive workforce while further enhanced through streamlined data-driven approach to enhance operational
supporting long-term business sustainability. command structures at MRPR, revisions reliability and ensure sustainable, repeatable
performance improvements.
Page 99
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 97
Employee Turnover [GRI 401-1] Leadership Development Technical Competency
Employee turnover provides insight Programmes Development
into workforce stability and the In 2025, Medco Power strengthened its
Medco Leadership Behaviours (MLB)
effectiveness of Medco Power’s commitment to sustainable operations by
people management practices. As part of MedcoEnergi, Medco Power
conduct technical competency development
Monitoring turnover trends helps the promotes MLB as the guiding framework
for the Independent Power Producer (IPP)
Company understand retention patterns, that encourages employees to embody
teams at MRPR, ELB, BJI and PPP. The
identify areas for improvement, and plan key leadership values in their roles. MLB is
programme focused on a structured technical
future workforce needs in line with integrated into the Performance Management
competency gap assessment to benchmark
organisational goals. System as a key assessment component,
workforce capabilities against defined
evaluating both leadership values and
standards for critical operational and
Training and work achievements.
maintenance roles.
Competency Development Medco Senior Leadership Targeted training programmes were delivered for
Medco Power places training and Development Programme (MSLDP) Engineering and Operations & Maintenance
competency development as a top personnel, with emphasis on renewable
Designed specifically for supervisors
priority in human resources management, energy technologies and gas to power
and managers, this programme focuses
recognising that sustainable business systems. These initiatives support operational
on enhancing personal leadership
success can only be achieved through reliability, safety performance, and long-term
capabilities, team management skills,
optimal employee performance. The readiness for evolving power generation
and commercial acumen, ensuring that
Company leverages all available resources technologies, while ensuring that workforce
Medco Power’s leaders can perform
to translate business challenges and development remains aligned with business
their roles more effectively in support
industry dynamics into structured education continuity and sustainable growth objectives.
of transformation objectives. The Senior
and training programmes aimed at cultivating
Leaders Programme was conducted online
highly skilled and competent personnel. Sustainability and Climate
between October and November 2025
Medco Power’s core development programmes to enhance leadership competencies. Change [OJK E.2] [GRI 2-17]
cover three key areas: leadership development, The programme addressed sustainability
Sustainability Programmes for Leaders:
technical competency enhancement, and disclosures and due diligence (October
Medco Power continued to strengthen
sustainability and climate change capability 2025), climate risks and resilience
sustainability and climate-related competencies
building. These programmes are designed (October 2025), GHG and methane
at leadership level. Two leaders participated
to support different stages of employee management (October 2025), and
in international executive programmes on
growth, from early career development to concluded with sustainable finance and
Business Sustainability Strategy, Technology and
preparing future leaders and specialists. the CCS/CCUS Hub (November 2025).
Management (MIT) and Evaluating a Corporate
Sustainability Strategy (Cornell University).
GAIA Champions Programme: Medco
Employee Turnover Based on Gender Power continued the GAIA Champions
Gender 2023 2024 2025 Programme as part of its efforts to strengthen
employee competencies. Sessions in August
Female 7 8 4 2025 covered climate risks in disclosure and
Male 26 62 54 due diligence, GHG management, carbon
removal and offsetting, carbon pricing, and
Total 33 70 58
sustainable finance, including OGMP 2.0, the
CCS Hub concept, and the Green Finance
Employee Turnover Based on Age Group Framework.
Age Group 2023 2024 2025
Climate Change Risk Assessment (CCRA)
<30 Years Old 11 33 18 Champion: On October 2025, Medco Power
Indonesia conducted an in-person Climate
30-50 Years Old 15 31 32
Change Risk Assessment (CCRA) Champions
>50 Years Old 7 6 8 Workshop involving 30 participants. The session
Total 33 70 58 combined climate science fundamentals,
physical hazard indicators, and hands-on use
of the Company’s in-house CCRA platform.
Employee Turnover Based on Region
Region 2023 2024 2025 IFRS S1 and S2 Capability Building: A
capability-building session on IFRS S1 & S2
Jakarta 11 18 15 Double Materiality Assessment was held
Outside of Jakarta 22 52 43 on December 2025, facilitated by an external
expert to strengthen internal understanding of
Total 33 70 58
assessment processes and reporting readiness.
Page 100
2025 Management Business Company Corporate Sustainability
98 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Human Resources
Management Performance
Training Performance Through these multifaceted training and to support a professional, adaptive, and
competency development initiatives, Medco capable workforce. The Company plans
Throughout 2025, Medco Power provided Power cultivates a culture of lifelong learning, to advance its talent development efforts
5,925 hours of training to its employees enabling individuals to access necessary through approaches that emphasise
across 454 training programmes, resources and development opportunities competencies, technology adoption,
demonstrating continued commitment to to enhance their capabilities continuously. and continuous learning. Investments in
workforce development. The Company training and certification will be expanded
invested approximately USD251,396/ Future Human Resource so employees can develop skills that
IDR4,022,333.709 in both leadership align with industry developments,
and technical development to support Strategy and Outlook
particularly in the shift toward clean
the transformation agenda. Looking ahead, Medco Power will continue and sustainable energy.
strengthening its human resource practices
Medco Power will also focus on maintaining
an inclusive and performance-oriented work
Employee Training and Competency Development [OJK F.22][GRI 404-1] culture. Efforts to encourage collaboration,
innovation, and healthy work-life balance
2023 2024 2025 will remain part of the Company’s priorities.
Description
Male Female Male Female Male Female Retention initiatives and leadership
development programmes will continue
Training Hours 6,677 1,759 6,087 1,134 5,352.5 572.5
to support the availability of skilled talent
Total 8,435 7,221.5 5,925 and long-term organisational stability.
Through this direction, Medco Power aims
Training Participants
to build a workforce that is well-prepared
Description Unit 2023 2024 2025 for future challenges and able to contribute
to the Company’s continued growth and
Number of Training People 3,642 3,601 3,721
sustainability goals.
Participants
Types and Objectives of Training [GRI 404-2]
Total Total
Training Type Training Objective
Participants Training Hours
Technical Training Supporting company operations in the technical field 739 1,255
(Engineering or Supporting).
Supporting Training Improve and support employee capabilities in the fields of General 1,834 698.5
Administration, Human Capital, IT & Information System, Business
Development, and Finance and Accounting.
Mandatory Certification As part of compliance to meet Government Regulations related to 360 3,036
competency standards that must be met by every worker in a work
activity within the Company's operations.
Certification To fulfil the requirements of work standards/worked professions as 54 556
part of the recognition of competencies possessed by workers in
addition to the Mandatory Certification that has been held.
HSE Training To increase workers’ awareness and understanding of Occupational 535 131
Health and Safety practices in the workplace.
Leadership/Soft Skills To improve the interpersonal and intrapersonal abilities and skills of 199 248.5
each worker
Employee Certification
2023 2024 2025
Description
Male Female Male Female Male Female
Electrical Engineering Staff 183 3 92 0 107 5
Competency Certification
OHS and Environment 125 9 173 6 186 9
Certification
Operational Supervisor 7 0 11 0 29 0
Total
Page 101
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 99
Occupational Health
and Safety [GRI 3-3]
Medco Power recognises that power sector Incidents (LTI) across all operational sites, Throughout 2025, Medco Power has
operations involve inherent risks requiring as well as the attainment of Safety Culture demonstrated continued progress in its
systematic management approaches. Maturity Level-3 (Independent), highlighting OHS performance, including:
The Company maintains its focus on a deeply embedded and well-established
Occupational Health and Safety (OHS) as safety culture throughout the organisation. Recognition and Certifications Received
a fundamental component of operational [OJK F.21] • Indonesia Best Electricity Award (IBEA)
integrity and long-term business viability. 2025 – MCG
For Medco Power, OHS is more than a • Green PROPER Award – TJBPS
Building upon this foundation, Medco regulatory expectation; it is a strategic enabler
Power continues in 2025 to advance its that supports operational reliability, risk These achievements reflect the
commitment to effective and responsible mitigation, and overall business resilience. Company’s ongoing efforts to integrate
OHS management. The Company ensures Through disciplined implementation of safety safety into its operations, including
that all operational activities are conducted protocols, ongoing hazard identification, operational excellence, asset integrity,
in line with prevailing regulations and and consistent performance monitoring, OHS Management Systems, and
best-practice standards, reinforcing safety the Company strives to maintain a work measurable performance outcomes,
as a shared priority across all organisational environment where safety is firmly which together form the foundation
levels. This dedication is demonstrated by embedded in daily operations. of Medco Power’s safety framework.
the achievement of Zero Lost Time
Zero 0.59 Zero
Lost Time Incident (LTI) TRIR
Occupational
Illness Rate Level 3
(Independent)
6,740,472 56,422,282
Safety Culture
Maturity
Man Hours 2025 Safe Man Hours YTD 2025
ELB Gas-fired, Riau Islands
Page 102
2025 Management Business Company Corporate Sustainability
100 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Occupational Health
and Safety
Maintaining Operational • Deliver safer, more reliable, and integrated OE systems that translate
environmentally friendly responsible strategy into action, ensuring consistency,
Excellence power generation reliability, and continuous improvement
Introduced to Medco Power in 2020, across all operations.
Medco Power positions Operational The Plan-Do-Check-Adjust (PDCA)
Excellence (OE) as an overarching framework cycle underpins Medco Power Indonesia’s Within this context, Medco Power position
that integrates key elements essential OE framework, embedding continuous Operational Excellence (OE) as a key pillar
to safe, reliable, and efficient operations. improvement into daily operations. This of its transformation, embedding the OE
The OE framework is developed with the approach supports safer, more reliable, Framework through structured methodologies,
objectives as follows: efficient, and sustainable power generation dedicated task forces, and targeted quick
while fostering a culture of effectiveness, wins to drive improvements in safety,
• Drive sustainable growth through efficient, best-practice adoption, and continuous learning. reliability, efficiency, and cost performance.
value-driven operations This approach was applied across the asset
• Ensure the highest levels of safety, integrity, Medco Power’s Operational Excellence portfolio, including gas to power facilities,
and reliability framework is built on three core pillars: renewable energy installations (solar,
• Enhance efficiency and cost control developing our people, executing work wind, and geothermal), and Operations
• Embed a culture of continuous through standardised processes and tools, and Maintenance (O&M) service contracts,
improvement and best-practice adoption and delivering measurable performance. and has begun to contribute to improved
These pillars are supported by eight operational and financial outcomes.
Medco Power Indonesia’s
OE framework People
Objectives: Develop leadership
and human resources excellence in
dynamic organisation to strive strong
MPI continuous improvement culture.
Relevant OE System:
SU • Leadership Management
Y S • Talent Development
orman T
T
Perf Deliver ce
LI
A
IN
BI
AB
IA
REL
ILI
TY
Operational
Process & Tools
Excellence
P ro c e sExecu
Objectives: Develop effective
(OE) and efficient processes through
digitisation and enhanced technology
le
for better visibility and accountability.
op
lo p
s & te
Relevant OE System:
ve
Pe
oo • Digitisation and Technology
De
T
ls • Performance Management System
SAFETY Performance
Objectives: Deliver best in class
performances in term of Operation.
Relevant OE System:
• HSESS
• M&R and A&OI
• Cost Management Product Monitoring
& Optimisation
Page 103
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 101
Additionally, The Company collaborates
Key Initiatives
with Boston Consulting Group (BCG) to
transform Continuous Improvement (CI) 1 Implement a forced outage protocol with a dedicated war room and drill cadence
programmes into targeted, high-impact 2 Streamline PR-to-PO process
initiatives that enhance operational
3 Launch spare parts readiness programme
performance across both power plants.
Through a structured prioritisation 4 Deploy operations control-tower war room
process, 24 improvement opportunities 5 Strengthen O&M strategy & planning
were identified, including four quick wins
Revenue (Availability)
6 Develop a Pre-Outage Readiness protocol
and 12 major initiatives (“big rocks”)
7 Build Asset-Health Index dashboard
focused on long-term value creation.
This approach ensures resources are 8 Review gas supply to increase MPRP allocation
directed toward initiatives with the 9 Develop Safe Operating Limit (SOL) and alarm management
greatest impact on efficiency, reliability, 10 Fulfil mandatory equipment and tools to support maintenance & troubleshooting
and sustainable growth.
11 Introduce dynamic alarm reset logic to minimise trips
Each initiative is supported by appropriate 12 Deploy condition-based monitoring to optimise strategies and prevent outages
analytical tools and digitalised dashboards 13 Utilise portable inlet-air fogging skids to enhance air intake and recover rates
that consolidate performance data into
14 Assess and develop competencies for key personnel with targeted training plans
real-time, actionable insights, enabling
timely decision-making and continuous 15 Roll out Coach-of-the-Day SOP patrols for on-the-job reinforcement of procedures
improvement. To further strengthen 16 Launch GT/STG Capability Academy with OEM modules and simulator-based drills
operational oversight, the Company has 17 Create blanket agreement for key materials and services with trusted suppliers
deployed an Operations Control-Tower
18 Decentralise select material/services to increase speed to execution
War Room featuring real-time performance
monitoring, centralised coordination, and 19 Structure and operational internal meetings to ensure strong coordination
regular Field Operations drills to maintain 20 Review and update O&M operating model to set clear expectations
site readiness.
Cost
21 Introduce SLA-driven LTSA
Under the OE pillar on standardised 22 Optimise Gas Turbines overhauls’ cost
processes and tools, Continuous 23 Review manpower requirements to secure adequate resource levels
Improvement (CI) workshops were 24 Build category-management capabilities to strengthen strategic sourcing
conducted at MRPR Gas-Fired and
Deep dives of today
Batam Assets. Initiatives were executed
using the Define-Measure-Analyse-Improve-
Control (DMAIC) methodology, complementing
the PDCA cycle by providing a structured,
data-driven approach to enhance operational Prioritisation Matrix
reliability and ensure sustainable, repeatable
performance improvements. Incremental Wins Quick Wins
The Company continued to focus on 19
the follow-up and implementation of
corrective action plans arising from 1
previous OE assessments. While several
audits conducted during the year were 16
categorised as Health, Safety, and 14 4
15
Environment (HSE) audits, they applied
EASE
an Operational Excellence framework, 6
with outcomes extending beyond HSE Deferred Bets Big Rocks
to include improvements in maintenance,
11
reliability, and operational practices. 3
21
Accordingly, efforts in 2025 prioritised
the closure of identified findings and the 23
implementation of corrective actions to 9
strengthen OE performance, rather than
undertaking standalone OE or HSE 7 5 2
12
assessments. In parallel, reliability 17
improvement initiatives were implemented 10 8
to address operational challenges, including 24
20 18 13
the deployment of task forces to support the 22
execution of reliability plans and OE practices.
S P E E D - T O - I M PA C T
Page 104
2025 Management Business Company Corporate Sustainability
102 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Occupational Health
and Safety
Advancing Operational Excellence introduction to the Heat Recovery Steam Occupational Health And
through Digital Information Systems Generator (HRSG) and steam turbine
admission. For the East Bali Solar PV,
Safety Management System
The Company also recognises information [GRI 403-1]
PSSR was completed prior to initial
as a critical asset in supporting Operational The Company’s OHS Management System
plant energisation.
Excellence across its IPP and O&M (OHSMS) provides a structured approach
businesses. To strengthen governance
Asset Integrity to identifying, evaluating, and controlling
and address fragmented documentation workplace hazards across all operational
practices, the Company implemented a As part of Medco Power’s Operational
facilities. This system is aimed to address
structured Document and Information Excellence (OE) initiatives, comprehensive
risks related to daily operations, maintenance
Management Programme, including a asset integrity assessments were
activities, project implementation, and
centralised Electronic Document conducted throughout 2025 to verify
contractor engagement.
Management System (EDMS). the ongoing fitness‑for‑service of critical
infrastructure and to proactively manage The implementation of the OHSMS follows
The system enhances document control, asset integrity risks. Key assessment Law No. 1 of 1970 on Occupational Safety,
traceability, and knowledge transfer, activities included In‑Line Inspection (ILI), operationalised through the Board of Directors’
supporting operational continuity as Close Interval Potential Survey (CIPS), and Decree of August 7, 2018, updated by
demonstrated in key projects such as Ijen Direct Current Voltage Gradient (DCVG), September 25, 2020, establishing the Policy
Geothermal and East Bali Solar PV. Looking followed by Risk‑Based Inspection (RBI) on Quality, Safety, Occupational Health, and
ahead, Medco Power continues to advance and Quantitative Risk Assessment (QRA) the Environment. This policy applies uniformly
its digital transformation by exploring for the 38.5‑kilometre, 12‑inch MRPR Gas across Medco Power and its subsidiaries.
AI-enabled solutions to further improve Distribution Pipeline, which was segmented
information accessibility, decision-making, into 43 sections for detailed risk evaluation. The OHSMS establishes mandatory
and long-term operational efficiency. standards for all personnel operating within
The assessments leveraged ILI, CIPS, Company facilities. Aligned with last year,
Operability Assurance and and DCVG results obtained in Q4 2024 as the Company continues to implement an
Major Project Excellence baseline inputs to establish asset condition Occupational Health and Safety Management
profiles, perform systematic risk ranking, System (OHSMS) that is mandatory for
Operability Assurance (OA) processes
and define optimised inspection and all Workers. The implementation of the
were also aligned with OE standards during
maintenance strategies in accordance OHSMS ensures protection for employees
key projects including key assurance gates
with risk‑based integrity management across operations. In 2025, the Company,
for ELB Expansion Combined Cycle Power
principles. The outcomes of the RBI and through its Subsidiaries, MPE, MEB, EPE,
Plant (CCPP) in Batam, MSBT in Bali and
QRA enabled the prioritisation of critical and ELB, maintains the OHSMS certification
MCG in Ijen, to ensure operational readiness
integrity threats and supported data‑driven with a “Satisfactory” predicate. [GRI 403-8]
prior to commissioning and facilitating
decision‑making related to maintenance
smooth transitions to commercial operation.
planning, inspection intervals, and capital Supporting certifications maintained in 2025
In support of this approach, Medco Power investment, while maintaining high include ISO 14001:2015 (Environmental
has implemented a suite of assurance standards of operational reliability and Management System), ISO 9001:2015
measures throughout the project lifecycle, personnel safety. (Quality Management System), and
including Pre‑Start‑Up Safety Reviews ISO 45001:2018 (Occupational Health
In alignment with the ‘Do’ and ‘Adjust’ and Safety Management System).
(PSSR), Operational Readiness Reviews
phases of the OE Plan‑Do‑Check‑Adjust
(ORR), Commissioning Assurance, and
(PDCA) cycle, two urgent integrity locations During 2025, the Company enhanced
structured verification processes. These
identified through the RBI and QRA were risk management protocols with particular
measures are designed to ensure the safe
addressed in 2025 through preventive attention to Fire Hazard and Line of Fire,
achievement of the Commercial Operation
repair activities. These interventions to strengthen preventive controls and
Date (COD) and are underpinned by the
were implemented to mitigate elevated improve operational safety performance.
Company’s Major Project Excellence
risk levels and to prevent potential Leadership visibility in OHS matters was
framework, which governs consistent
loss‑of‑containment scenarios. reinforced through site visits and training
implementation and application across
programmes, alongside initiatives promoting
all major projects. Building on these efforts, Medco Power incident reporting and adherence to work
continues to strengthen its asset integrity authorisation procedures.
As part of its strong commitment
management programme by expanding its
to operational safety, reliability, and
scope beyond pipeline systems to include In addition, the Occupational Health and
sustainability, Medco Power successfully
power generation facilities. Ongoing Asset Safety Management System is supported
conducted PSSR and ORR as key operational
Integrity baseline inspection programme as by several key components that help
gate processes for the ELB Expansion CCPP
foundation of risk-based inspection guide Medco Power’s efforts in integrating
in Batam and East Bali Solar PV in Bali.
programme, assessments, condition safety into its operations. These include
For the ELB Expansion CCPP, steam monitoring, and structured follow‑up actions processes for hazard identification, risk
blowing and steam admission were are being implemented to enhance holistic assessment, incident investigation, the
identified as critical high‑risk activities from asset oversight, reinforce process safety, provision of occupational health facilities,
a process safety perspective. Accordingly, and drive continuous improvement across and the implementation of occupational
PSSR was conducted for both hot steam the entire asset lifecycle. safety programmes.
Page 105
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 103
Hazard Identification, Work Risk (HIRADC) protocols, while non-routine and Incident investigations are conducted
Assessment, and Incident project activities follow Job Safety Analysis by independent teams appointed by
Investigation [GRI 403-2] (JSA) procedures. These risk management senior management. These teams
processes are complemented by structured work with operational personnel to
Medco Power further strengthens hazard control measures, proactive determine root causes and develop
Operational Excellence by embedding maintenance and reliability programmes, corrective actions to prevent recurrence.
hazard control, maintenance, and reliability and process safety, all of which support Investigation findings are documented
practices throughout its operations. Routine Operational Excellence by enhancing and tracked through closure of
activities utilise Hazard Identification and safety, ensuring operational continuity, recommended actions.
Risk Assessment Determined Control and improving overall asset performance.
Types of Occupation with Risk of Occupational Diseases Based on Business Unit [GRI 403-2] [GRI 403-10]
Power Plant Type High Risk Occupation Type Preventive Measure
Coal-Fired Operation and maintenance • Education about the dangers of noise and how to use hearing protection properly
Power Plant of rotating equipment and • Conducting special examinations on workers exposed to noise (audiometry),
emitting steam flow (noise) measuring noisy work environments, and noise exposure dose received by
workers periodically
• Provision of hearing protection adjusted to the Noise Rating reduction (NRR)
• Ensuring full readiness of fire protection equipment – including detection,
alarm, suppression, hydrant, and emergency response tools – supported by
regular inspection, testing, maintenance, and trained personnel to enable rapid
and effective fire control
Geothermal Operation and maintenance • Education about the dangers of hot steam and H2S gas for health and the use
Power Plant of power plants of appropriate respiratory protective equipment
• Conducting measurements and monitoring in the work environment and
measuring the exposure dose received by workers periodically
• Provision of respiratory protective equipment that is appropriate to the conditions
Combined Cycle Operation and maintenance • Health risk assessment, periodic health checks, work environment health checks,
Power Plant of power plants routine socialisation through health talk sessions
• Education about the dangers of noise and how to use hearing protection
equipment properly
• Conducting special examinations on workers exposed to noise (audiometry), noisy
work environments, and the dose of noise exposure received by workers periodically
• Provision of personal protective equipment appropriate to the type of work
Mini Hydro Operation and maintenance • Occupational safety education and proper use of personal protective equipment
Power Plant of power plants • Provision of personal protective equipment appropriate to the type of work
• Provision of anti-snake venom serum and grab sticks
• Use of bee nets
Gas Engine Operation and maintenance • Education about the dangers of noise and how to use hearing protection properly
Power Plant of power plants • Conducting special examinations on workers exposed to noise (audiometry),
conducting measurements of noisy work environments, and measuring the
noise exposure dose received by workers periodically
• Provision of appropriate personal protective equipment
Gas-Fired Operation and maintenance • Health risk assessments, periodic health checks, work environment health
Power Plant of power plants checks, routine socialisation through health talk sessions
• Education about the dangers of noise and how to use hearing protection properly
• Conducting special examinations on workers exposed to noise (audiometry),
conducting measurements of noisy work environments, and measuring the
noise exposure dose received by workers periodically
• Provision of personal protective equipment appropriate to the type of work
Solar PV Operation and maintenance • Education about the dangers of heat and electricity
Power Plant of power plants • Education on how to use personal protective equipment properly
• Provision of anti-snake venom serum and grab sticks
• Use of bee nets
Page 106
2025 Management Business Company Corporate Sustainability
104 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Occupational Health
and Safety
Medical Check-up, Batam HIV/AIDS and TB Prevention Team, Batam
Occupational Health Facilities Minister of Manpower and Transmigration Workplace Health and Safety
[GRI 403-3] [GRI 403-6] Decree No. 68/2004 on HIV/AIDS prevention Fit To Work assessment and
and Minister of Manpower Regulation health case management
Medco Power provides occupational health
No. 13/2022 on TB control in the workplace. • Achieve full (100%) compliance
facilities to support employee wellbeing in
accordance with procedure MPI-HSESS- with the 2025 MCU requirements for
Occupational Safety Programme
PRO0040 “Medical Check-up Procedure”. Medco Power
The medical surveillance programme includes: Medco Power’s occupational safety
programme operates within the framework Safe and healthy work
• Pre-employment MCU for all new hires established by Company HSE policies environment maintenance
and the Operational Excellence Handbook. • OE self-assessment conducted at MCG
• Annual MCU for all active workers
• Exit MCU conducted prior to retirement This handbook provides systematic (as part of Corporate Assessment)
guidance for achieving safe, reliable, • Safety culture self-assessment for all
• Supplementary health monitoring for
personnel working in high-risk environments and efficient operations across all facilities. Medco Power asset on December 1, 2025
• Corporate HSE audit for all Medco Power
Beyond routine medical examinations, HSE management encompasses context operational assets
the Company expanded its occupational analysis, leadership commitment, planning • Intensive training and walkdown
health initiatives in 2025 to address broader to address HSE and OHSMS risks, at Sulut-1 O&M (May 6-8, 2025)
public health concerns. This initiative included monitoring and evaluation, and continuous covering HSE Leadership, hazard
education on treatment adherence, infection improvement. The Company maintains an awareness, Golden Rules and Life
prevention, and family support roles, alongside HSE Committee with worker representatives Saving Rules, First Aider readiness,
donation of staple goods to ease patients’ from each division and department, and environmental management
financial burden during treatment. responsible for policy development and • Life-Saving Rules (LSR) field
guideline updates. [GRI 403-4] verification for all Medco Power
Further strengthening its health programmes, operational assets
ELB formalised partnerships to address Programme implementation is measured • Continuation of the Predictive safety
infectious diseases in the workplace. The through HSE Performance Indicators performance implementation in
Education and Partnership Signing Event with (HSEPI) and Leading Indicators, covering Medco Power
Yayasan Lintas Nusa established ongoing management engagement, regulatory
initiatives for HIV/AIDS and TB prevention, compliance, training, and safety campaigns. Asset Integrity
including regular educational sessions, health Both employees and contractors participate in
Asset integrity and process
screenings, contact tracing, and treatment OHS training programmes. Key OHS activities
safety verification
support. This partnership operationalises implemented in 2025 include: [GRI 403-5]
• Process safety event metrics tracking
• Business continuity governance evaluation
Emergency Preparedness
Emergency Response Campaign 2025
organised by MRPR in Pekanbaru
(September 2025)
• Engagement with local officials and
residents surrounding Riau Combined
Cycle Power Plant
• Awareness sessions on fire response,
gas leakage, and natural disaster protocols
• Socialisation of official complaint procedures
• Coordination strengthening among
company, community, and
local government
Medical equipment assistance for Posyandu, Riau
Page 107
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 105
ELB Gas-fired, Riau Islands
Strengthening Safety Culture meets established safety benchmarks. Awards (IBEA) at the Bidakara Hotel,
This proactive approach demonstrates Jakarta, on July 2025. The award
As Medco Power expands its portfolio
the Company’s commitment to establishing recognised MCG as the Best Independent
and prepares new assets for commercial
robust safety foundations in new operational Power Producer (IPP) for Renewable
operation, embedding safety culture from
units from the earliest stages of asset Energy Power Plants in Technological
the outset remains a strategic priority.
lifecycle management. Innovation. MCG completed the
In May 2025, the Corporate HSESS
development of the Ijen Geothermal
(Health, Safety, Environment, Social, Best Independent Power Unit 1 and achieved commercial operation
and Security) team conducted an intensive
Producer Company in early-February 2025.
three-day training and walkdown
programme at Sulut-1 O&M in North Medco Power through its subsidiary MCG,
Sulawesi, a facility in final preparation received the 2025 Indonesia Best Electricity
stages for Commercial Operation Date
(COD) under an Operations and
Maintenance (O&M) scheme managed by
subsidiary MPES-Sulut.
The programme engaged all Sulut-1 O&M
employees in comprehensive training
covering HSE Leadership principles,
workplace hazard awareness, Golden
Rules and Life Saving Rules application,
First Aider team readiness, and
environmental management aligned
with regulatory requirements and
sustainability principles. Following
classroom sessions, the Corporate
HSESS team and site management
conducted facility walkdowns to verify
safety standard implementation and identify
improvement opportunities prior to COD.
Findings from these observations
were documented and prioritised for Indonesia Best Electricity Awards Event, Jakarta
resolution, ensuring operational readiness
Page 108
2025 Management Business Company Corporate Sustainability
106 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Occupational Health
and Safety
Ijen Geothermal is the first geothermal Through its subsidiary TJBPS, the Company Resources Regulation No. 10 of 2021.
power plant in Indonesia to use a two-phase maintains a Security Management System These requirements cover the full lifecycle
binary system, offering advantages such (SMS) at Tanjung Jati B CFPP, holding of power generation activities, including
as 100% reinjection to maintain reservoir PROPER Green status. This system planning, construction, inspection and testing,
pressure, reduced make-up well requirements, complies with Decree of the Minister of operation and maintenance, as well as
cost efficiency, and optimised power Energy and Mineral Resources Number monitoring, to ensure that safety is prioritised
generation by utilising both upflow and 3407.K/Mem/2012 concerning National Vital and operational risks are effectively managed.
brine. Inaugurated by the President of the Objects (Obvitnas) in the ESDM sector and
Republic of Indonesia, Prabowo Subianto, Chief of Police Regulation Number 27 of The Company conducts periodic reviews
on June 2025, Ijen Geothermal is also the 2009 on Security Management Systems. of potential environmental and social
first geothermal power plant in East Java, impacts arising from its operations to
operating on 117 hectares and supplying The Contractor Safety Management System support responsible and sustainable power
green energy to 85,000 households (CSMS) governs contractor engagement generation. Clear and structured procedures
while avoiding approximately seven million from planning through work completion. are in place to manage operational issues
tons of CO2 emissions during the Contractor selection criteria include local that may affect service quality or the
operational life of Unit 1. workforce qualification and training reliability of power supply. Throughout 2024,
verification. When available, qualified local there were no major incidents or disruptions
Appreciation for the award was expressed workers from communities surrounding that adversely affected the Company’s
by Femi Sastrena, President Director of operational sites receive hiring preference. ability to supply electricity, reflecting the
MCG, noting that the recognition further effectiveness of its integrated operational
motivates the power plant to be operated Contractor activities encompass Operation assurance and quality management systems.
safely and in accordance with the principles & Maintenance/Overhaul Services, Building
of Operational Excellence, while adhering to Construction, Catering Services, Security, Occupational Health and
the Power Purchase Agreement with PLN. Equipment Certification/Calibration,
Consulting, External Audits, Laboratory
Safety Performance Metrics
Implementation of OHS for Services, and Supply Chain operations. OHS performance indicators provide
Work Partners measurable data on the effectiveness of
Product Safety Company safety programmes. In 2025,
The Company’s commitment to workplace [OJK F.27] [OJK F.28] [OJK F.29] Medco Power maintained its approach
safety extends to all contractor personnel based on the 3T Golden Rules, which is an
operating within Medco Power facilities. Medco Power is committed to delivering
effort to create an employee mindset that is
Recognising that contractors perform electricity that meets high standards of
able to understand the work being carried out,
essential functions across construction, safety, quality, and reliability in accordance
the danger factors and how to control the risks.
operations, and maintenance activities, the with its contractual obligations. This
Company has established comprehensive commitment is underpinned by compliance The Company will continue advancing
safety management protocols applicable with Power System Safety (Keselamatan OHS performance through the Operational
to all external workers. Ketenagalistrikan) requirements as stipulated Excellence Programme and related
in the Ministry of Energy and Mineral initiatives in the coming year.
OHS Performance Data [GRI 403-9]
Description 2023 2024 2025
Medo Power OHS Performance Data
Number of Fatalities 0 0 0
Lost Time Incident Rate (LTIR) 0.0 0.0 0
Total Recordable Incident Rate (TRIR) 0.0 0.43 2.54
Occupational Disease Rate 0.0 0 0
Contractor OHS Performance Data
Number of Fatalities 0 0 0
Lost Time Incident Rate (LTIR) 0 0 0
Total Recordable Incident Rate (TRIR) 0 0.57 0
Occupational Disease Rate 0 0 0
OHS Performance Data - Consolidated
Number of Fatalities 0
Lost Time Incident Rate (LTIR) 0
Total Recordable Incident Rate (TRIR) 0.59
Occupational Disease Rate 0
Page 109
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 107
Community Development
Performance [OJK B.3] [GRI 3-3]
Medco Power positions community strengthen relationships, share information, Public Complaint Mechanism
development as a core element of its and ensure that any emerging needs are [OJK F.24]
business performance, ensuring that addressed constructively.
its achievements are complemented by As part of its commitment to active
measurable social contributions to the To strengthen this approach, Medco communication, Medco Power recognises
communities surrounding its operations. Power routinely conducts Social Impact that providing accessible channels for
Assessments to identify potential impacts communities to express concerns strengthens
Medco Power maintains a balanced on local communities. These assessments trust, transparency, and collaboration.
approach between business value creation involve key stakeholders, including local Through the Public Complaint Handling
and community contribution to support governments, community groups, and Procedure, which can be accessed via
inclusive and sustainable development. civil society organisations to ensure corsec.mpi@medcoenergi.com, communities
Community development is an integral that findings reflect actual needs and may submit complaints, suggestions, or
component of the Company’s responsibility issues. Medco Power ensures that all other relevant information to the Company.
and is regarded as one of the elements existing and planned operational activities As communities are key stakeholders,
that defines overall business performance undergo a comprehensive social impact this mechanism forms an integral part of
alongside financial and operational targets. evaluation, which forms the basis for the Company’s Stakeholder Engagement
designing more targeted and effective risk Procedure. For Medco Power, this channel
Medco Power implements its commitment prevention and management programmes. enables a timely and effective response to
through a portfolio of sustainable social In2025, the Company conducted a community inputs and supports continuous
programmes. These programmes are guided Social Impact Assessment with the improvement in its operational practices.
by policies that prioritise improvements in following results: [GRI 413-2]
education, social welfare, and environmental In 2025, the Company received
quality for communities surrounding its 1. Supporting local economic development 14 community grievances related to
operational areas. Social welfare initiatives by offering employment opportunities environmental concerns in the areas
include support for health infrastructure for surrounding communities and surrounding its operations, all of which
and assistance for communities affected enabling local businesses to take were addressed appropriately. One of the
by natural disasters. Building on these part in the Company’s supply chain. grievances came from the community near
focus areas, Medco Power has established 2. Improving public infrastructure the hydropower plant in Cianjur, operated by
both short-term and long-term community through initiatives such as river BJI. The complaint related to the condition
development targets. Short-term priorities basin rehabilitation, free electricity of the drainage system, which overflowed
emphasise education and social initiatives, installation for underprivileged during heavy rain and affected nearby fish
while long-term priorities cover education households in collaboration with PLN, ponds, with the community expressing
and environmental programmes that require renovation of the Jampit Village Mosque, concerns about possible contributions
sustained, multi-year implementation. and construction of additional classrooms from the Company’s activities. In response,
for Madrasah Durun Nafis. the Company undertook the necessary
All programmes are designed to align with 3. Supporting the construction of repairs and provided compensation to
the characteristics of each operational the Neighbourhood Security Post affected community members. These steps
area, economic feasibility considerations, (Pos Keamanan Lingkungan/Poskamling) were taken to help restore conditions and
and community needs to ensure that the in Piliam Winangun Sari. maintain positive engagement with the
initiatives are relevant and deliver effective 4. Providing an open pavilion as a learning surrounding community.
impact. To ensure these programmes are facility to support children’s religious
well-managed, measurable, and responsive education activities in Tenayan CSR Activities [OJK F.25] [GRI 413-1]
to stakeholder needs, Medco Power Industrial Village.
conducts Social Impact Assessments, In 2025, the Company delivered various
5. Renovating and electrifying Integrated Corporate Social Responsibility (CSR)
manages a Public Complaint Mechanism, Health Services Centre (Pos Pelayanan
and implements structured Corporate initiatives enhance community well-being.
Terpadu/Posyandu) Harapan Maju in These initiatives included:
Social Responsibility (CSR) activities Tuah Negeri Village.
across its operations. Renovating early childhood education
6. Education
facilities (Pendidikan Anak Usia
Social Impact Assessment Dini/PAUD) to meet safety and • Promoting Learning about the
hygiene standards. Energy Industry through the
As part of its commitment to social
Building awareness among students Employee Teaching Programme
responsibility and sustainability, 7.
through the Medco Mengajar programme, The Employee Teaching Programme is
Medco Power remains focused on
which delivers educational sessions on an initiative in which employees of MEB
minimising social impacts on surrounding
Health, Safety, and Environment (HSE) volunteer as mentors to introduce senior
communities. This commitment is
to promote responsible and safety- high school students to the power plant
implemented through high operational
conscious behaviour. industry, sustainability, and climate change
standards, environmentally responsible
Participating in regional and community topics. In 2025, the programme took place
technologies, sustainable environmental 8.
events, including traditional ceremonies, at SMK Negeri 11, a public vocational
management practices, and strict
religious and national celebrations, to school in Batam as part of the School
compliance with applicable regulations.
help build a collaborative and positive Environment Introduction Period (Masa
The Company also maintains continuous
relationship with stakeholders. Pengenalan Lingkungan Sekolah/MPLS)
engagement with local communities to
and engaged more than 400 new students.
Page 110
2025 Management Business Company Corporate Sustainability
108 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Community Development
Performance
For its contribution to vocational The programme provided capacity- patients at Embung Fatimah Regional
education in the region, a recognition building sessions covering business General Hospital in Batam in July 2025.
was awarded from the Governor of Riau legality, basic licensing processes, and During the session, the team and hospital
Islands. This recognition strengthens financial management practices, including staff delivered education on tuberculosis,
Medco Power’s commitment to continuing simple bookkeeping and cash flow highlighting treatment adherence, infection
and expanding the Employee Teaching management. This initiative supports prevention, and the importance of family
Programme to reach more schools. women’s economic participation and involvement in the recovery process.
Through this collaboration between promotes more resilient and sustainable Staple goods were also provided to help
industry and the education sector, the community livelihoods. reduce the financial burden faced by
Company supports the development of a patients during treatment.
skilled and future-ready young generation. • Promoting Healthy and Safe Learning
through an Integrated PAUD Programme This initiative reflects Medco Power’s
• Promoting Energy Awareness among To support early childhood development, ongoing commitment to contributing to
Elementary Students through MRPR implemented an Integrated Early community well-being and supporting
Renewable Energy Education Childhood Healthy Learning Programme the areas where the Company operates.
As part of its commitment to supporting that combines infrastructure improvement
a greener and more sustainable future with health and hygiene education. • Building Local Skills through
through education, Ijen Geothermal The programme was carried out at a Bamboo Craft Training in
visited SD 02, a public elementary school PAUD facility within the operational area. Tenayan Industri Village
in Bondowoso Regency, East Java. The Medco Foundation, in collaboration
During the visit, students were introduced The initiative included renovation of with MRPR, carried out a bamboo
to the fundamentals of geothermal the PAUD building to meet safety and craft training programme for residents of
energy and its environmental benefits, hygiene standards, complemented by Tenayan Industri Village, Pekanbaru City.
and provided pocketbooks for both age-appropriate education on healthy daily The initiative aimed to develop local
students and teachers as learning behaviours such as proper handwashing, skills and promote bamboo as a
materials. This initiative aims to enhance waste disposal, and tooth brushing. sustainable and environmentally
understanding of renewable energy and This integrated approach supports a friendly economic resource.
encourage greater appreciation and safe learning environment while helping
children develop healthy habits that support The programme engaged 20 participants
support for sustainable energy solutions.
long-term well-being and learning readiness. in a series of sessions covering bamboo
• Strengthening Literacy Access cultivation, material selection, and
through the Taman Baca Social processing techniques. Under the guidance
(Reading Park) Programme of experienced instructors, participants
• Accelerating Local Economic Growth
As part of its commitment to supporting learned to create various bamboo-based
Through Community-Based Enterprises
education in its operational areas, products, including tables, chairs, ladders,
Ijen Geothermal identified opportunities
Medco Power through MGS, implemented gazebos, and traditional woven crafts.
to support local economic development in
the Taman Baca programme at SD Negeri communities surrounding its project area. Beyond technical skills, the programme
No. 175752 in Lumban Gaol Village, In Kali Gedang Village, partnership was introduced participants to the broader
Pahae Julu Sub-district. The programme conducted with the Family Welfare potential of bamboo as a viable source
was designed to improve access to Empowerment group (Pemberdayaan of income. The training encouraged active
reading materials for students and Kesejahteraan Keluarga/PKK) to develop learning, discussion, and idea sharing,
the surrounding community. a local economic empowerment fostering creativity and community
programme that utilises the village’s participation. The competencies gained
Through the provision of books and a
natural resources. This collaboration are expected to support the development
dedicated reading space, the initiative
resulted in the creation of Ginger Pandan of bamboo-based enterprises and help
encourages reading interest and
Tea (Teh Jahe Pandan/Teh Japan), a create new economic opportunities for
supports learning activities for more
herbal beverage produced by local PKK local residents in the Company’s
than 120 students and local residents.
women using locally sourced ginger and operational areas.
The programme contributes to fostering a
pandan. In addition, collaboration was
culture of literacy and expanding learning
undertaken with Nuri Indah Lestari, a • Supporting Energy Access for
opportunities in communities around the
micro, small, and medium-sized enterprise, Underserved Households
Company’s operations.
to support the marketing of locally The Company, through its subsidiaries,
• Empowering Women through Micro, produced high-quality coffee. These supported a free electricity installation
Small, and Medium Enterprises (MSME) partnerships aim to strengthen local programme for underprivileged households
and Financial Management Training livelihoods, enhance market access, and across its operational areas. In Cianjur,
MRPR implemented a women’s generate sustainable economic benefits PPP contributed to the programme as the
empowerment programme focused on for the surrounding community. operator of a 9 MW Mini-hydro Power
micro and small enterprise development Plant, supporting local energy resilience
• Health Education and Support for and improving community access to
and financial management training within
Drug-Resistant TB Patients in Batam essential services. In recognition of
its operational area. The initiative aims
ELB demonstrated its commitment to its contribution, a recognition was
to strengthen the role of women as
community health by conducting a health awarded by PLN UP3 (Customer Service
MSME actors and support sustainable
education session and providing support Implementation Unit/Unit Pelaksana
local economic development.
to drug-resistant tuberculosis (TB-RO) Pelayanan Pelanggan) Cianjur.
Page 111
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 109
Similar initiatives were also implemented Before the programme, KUBE Temu Geothermal site and an area with
in Batam by BJI and MEB. In addition, a Kasih produced approximately 30 sacks of limited access to healthcare services.
collaboration with the Provincial Energy crickets per month with an income The programme helps residents obtain
and Mineral Resources Office of Riau of around IDR 350,000. Following basic health services more easily and
Islands Province was conducted by MEB infrastructure support, farming media, promptly. The initiative is implemented
to expand electricity access, providing and seed assistance provided in late in collaboration with Puskesmas Sempol,
electricity support to 20 underprivileged 2024, productivity increased significantly. strengthening coordination between the
households. In recognition of this Within eight months, the group sold Company and local health institutions
contribution, the initiative received more than 1,600 sacks, generating to improve community health in the
acknowledgement from the Governor IDR28 million in revenue, nearly 10 times surrounding area. In addition, stunting and
of the Riau Islands. the previous level. KUBE Temu Kasih malnutrition prevention and intervention
now operates independently and has activities were carried out across Ijen sub-
• Advancing Circular Economy Through established a stable marketing network district, including health screenings for
Eco-Friendly Cricket Farming in Pekanbaru. Guidance and monitoring stunted and malnourished toddlers,
As part of its commitment to supporting process are continuously undertaken to as well as medical examinations for
community economic independence and help ensure transparency and long-term women during pregnancy conducted
sustainable environmental management, sustainability of the programme. by paediatricians and obstetricians.
MRPR implemented a circular economy- These efforts also promote health
based community development programme • Expanding Access to Basic awareness as a foundation for improved
through eco-friendly cricket farming. The Healthcare for Communities well-being and productivity.
initiative was carried out in collaboration As part of its Corporate Social Responsibility
with the “Temu Kasih” Joint Business commitment, MCG and MPGS regularly
Group (Kelompok Usaha Bersama/KUBE) conduct free health check-ups in Curah
in Kelurahan Industri Tenayan, Pekanbaru. Macan, the closest village to the Ijen
Cricket Farming Programme, Riau
Page 112
2025 Management Business Company Corporate Sustainability
110 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Community Development
Performance
• Strengthening Community areas. The assistance included The second phase involves a 12-month
Health Services through Integrated donations for 30 orphans by PPP, maintenance and replanting period,
Health Services Centre (Posyandu) support for 65 orphans by BJI, and supported by regular monitoring and
Equipment Support rice distribution to 65 underprivileged documentation. The programme contributes
MRPR provided health screening families by MPE. MRPR also provided to ecosystem restoration while encouraging
equipment to a local Posyandu to basic food packages to 13 orphans and long-term community involvement.
enhance community-based health 27 underprivileged residents. These
services. The assistance improves initiatives reflect the Company’s ongoing • Empowering Communities through
the accuracy of growth and nutrition commitment to supporting vulnerable Integrated Waste Management
monitoring, supports early detection groups and contributing to community MRPR implemented a community-based
of stunting risks and non-communicable well-being in areas where it operates. waste management empowerment
diseases, and enables integrated services programme to improve environmental
for all age groups. The programme also • Supporting Household Income hygiene and strengthen local institutions.
strengthens the capacity of Posyandu through Biofloc Catfish Farming The programme is delivered in phases,
cadres in using modern tools and supports As part of its community economic beginning with regular waste collection
government priorities on stunting reduction empowerment efforts, MRPR implemented and education on proper disposal
and disease prevention. a household-based biofloc catfish farming practices, followed by household-level
programme for families in its operational waste sorting and recycling awareness.
• Supporting Public Health through area. The programme targets 10 beneficiary
Blood Donation Activities in Pekanbaru households, primarily small-scale farmers The initiative also includes mentoring
As part of MedcoEnergi’s 45th anniversary and oil palm plantation labourers with support to strengthen the operational
celebration, MRP organised blood irregular, seasonal incomes. and financial capacity of local waste
donation activities to support public management institutions. This integrated
health services in Pekanbaru City. By utilising home yard space for approach supports community
The initiative was conducted in biofloc-based catfish cultivation, empowerment, environmental
collaboration with the Indonesian the initiative promotes family-based improvement, and collaboration between
Red Cross (Palang Merah Indonesia/PMI) enterprises that involve all household residents, local institutions, and authorities
and local stakeholders. members. The programme provides an within the Company’s Ring-1 area.
alternative source of income that is
The programme contributed to more stable and sustainable throughout • Restoring Forest Ecosystems through
strengthening blood supply availability the year, supporting greater economic Watershed Rehabilitation
and was complemented by free health resilience at the household level. MRPR completed a Watershed
check-up activities for the community. For Rehabilitation programme in the Bukit
its active collaboration and contribution, Environment Suligi Training Forest, Rokan Hulu
certificates of appreciation were awarded Regency, Riau Province. The programme
• Promoting Environmental Awareness
from the Mayor of Pekanbaru and PMI, was implemented as part of the
on World Environment Day 2025
recognising the Company’s role in Company’s commitment to sustainable
On World Environment Day 2025 (June 5),
supporting community health initiatives. environmental management and
ELB and MEB collaborated with the Batam
compliance with forest area
City Environmental Agency in a plastic
• Sharing Benefits with Communities utilisation requirements.
waste cleanup action around the Horizon
through Qurban Meat Distribution
Industrial Area, Sungai Lekop Village. Over a three-year period, 3.8 hectares
In conjunction with Eid Al-Adha, the
The initiative aimed to foster public of land were rehabilitated through tree
Company and its subsidiaries carried out
awareness and action around waste planting under the supervision of relevant
Qurban meat distribution to surrounding
reduction and environmental preservation. government agencies. The programme
communities as part of their social
responsibility activities. The initiative achieved a survival rate of 94.87%,
• Enhancing Environmental Compliance
involved multiple entities, including ELB, exceeding regulatory standards, and was
through Bamboo Planting
PPP, Sumbawa, MGS, MPE, EPE, TJBPS, formally handed over in October 2025.
MRPR implemented a bamboo planting
Ijen Geothermal, MEB, BJI, and MRPR. By combining timber species with
programme to support environmental
The distribution aimed to share the economically valuable multipurpose
compliance and community empowerment
benefits of the religious celebration with trees, the initiative supports ecosystem
within its operational area. The programme
local communities and strengthen social restoration while providing long-term
was carried out in two phases in alignment
bonds between the Company and benefits for surrounding communities.
with Technical Approval requirements
stakeholders in its operational areas. and MRPR’s Environmental and
Social Management System.
• Supporting Vulnerable Communities
through Social Assistance Programmes The first phase focused on the
Medco Power subsidiaries implemented procurement and planting of 2,008
social assistance programmes to support bamboo seedlings, adapted to site
underprivileged communities and conditions based on joint surveys with
orphanages across several operational the Indragiri Rokan Watershed Agency.
Page 113
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 111
Statement Letter of the Board of
Commissioners and Board of Directors
We, the undersigned, being the members of the Board of Commissioners and Board of Directors of the Company, hereby, declare that
we are fully responsible for preparation and presentation of the 2025 Annual and Sustainability Report and 2025 Financial Statements.
All information in the 2025 Annual and Sustainability Report and 2025 Financial Statements have been fully and accurately disclosed and
the Reports do not contain false information or omitted information or material facts.
In witness whereof, the undersigned have drawn up this statement truthfully.
Jakarta, April 2026
Prepared by:
Eka Satria
President Director &
Chief Executive Officer
Femi Firsadi Sastrena Myrta Sri Utami Imron Gazali
Director & Chief Director & Director &
Commercial and Business Chief Financial Officer Chief Operating Officer
Development Officer
Approved by:
Amri Siahaan
President Commissioner
Darmoyo Doyoatmojo M. Teguh Pamuji
Commissioner Independent Commissioner
Page 114
2025 Management Business Company Corporate Sustainability
112 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Attachments
ELB Gas-fired, Riau Islands
Page 115
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 113
114 Company Structure
115 Organisational Structure
116 List of Abbreviations
117 Cross Reference to
OJK Requirements
128 POJK 51 Reference Index
130 GRI Index
132 Feedback Form
133 Financial Statements
Page 116
2025 Management Business Company Corporate Sustainability
114 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Company
Structure
PT Medco Energi Internasional Tbk PT Medco Power Internasional
PT Medco Kansai Power Indonesia PT Dalle Panaran
PT Medco Geothermal
PT Energi Prima Elektrika
Nusantara
PT Medco Power Sentral
PT Multidaya Prima Elektrindo
Sumatera
PT Medco Ratch
PT Dalle Energy Batam
Power Riau
PT Medcopower Servis
PT Medco Energi Menamas
Indonesia
PT Mitra Energi Batam PT Medco Solar Pasifik
PT Medco Pasifik Solar
PT Universal Batam Energy
Transmisi
PT Medco Power Energi
PT Energi Listrik Batam
Services
PT Medco General Power PT Medcopower Elektrika
Services Indonesia
PT TJB Power Services PT Medco Hidro Indonesia
PT Medco Power PT Nawakara Energi
Geothermal Services Sumpur
PT Medco Geothermal Sarulla PT Sangsaka Hidro Barat
PT Pembangkitan Pusaka
PT Medco Geopower Sarulla
Parahiangan
Sarulla Operations Ltd PT Sangsaka Agro Lestari
PT Medco Geothermal
PT Bio Jatropha Indonesia
Indonesia
PT Sangsaka Hidro
PT Medco Cahaya Geothermal
Ciseureuh
PT Medco Geothermal
PT Sangsaka Hidro Lestari
Sumatera
PT Medcopower Energi Baru PT Sangsaka Hidro Selatan
PT Medcopower Surya
PT Sangsaka Hidro Kasmar
Nusantara
PT Medcopower
PT Sangsaka Hidro Baliase
Transportasi Listrik
PT Medcopower Solar PT Sangsaka Hidro
Sumbawa Patikala Lima
PT Medco Power
PT Medco Solar Bali Barat
Geothermal Energi
Medco Power Global Pte Ltd PT Medcosolar Bali Timur
Pacific Medco Solar Energy
PT Indo Medco Power
Pte Ltd
Active Company
PT Teknologi Data Infrastruktur PT Muara Enim Multi Power
Dormant Company
Page 117
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 115
Organisational
Structure
President Director &
Chief Executive Officer
Eka Satria
Director & Chief
Director & Commercial and Business Director &
Chief Operating Officer Development Officer Chief Financial Officer
Imron Gazali Femi Firsadi Myrta Sri Utami
Sastrena
Sr. Manager VP Legal,
Sr. VP Project &
VP Operation VP Commercial Corporate Accounting & Corporate Secretary &
Development
Functional Excellence Communications
Raja D. Noerhadi Vinolia Suriyanto Herry Wijanto
Budi Setyawan George Cornelis
VP Health,
VP Operation & Sr. Manager Sr. Manager VP Human Resources &
Safety, Environment,
Maintenance Services New Ventures Corporate Finance Business Support
Social & Security
Syaripuddin Aria Gunanto Latief Aditya Simapranata Agus Mulyana Andy J. Effendi
Sr. Manager Business VP Government Relations
VP Gas to Power & Sr. Manager
Development & VP Solar & Wind
New Technology Corporate Treasury
Sustainability Kristyaningrum
Norman F. Slamet Endang Pamularsih Adrianto Darmoyo
Joko S. Yekti Yunita
Sr. Manager Manager Corporate VP Supply Chain
VP Geothermal
Asset Management Planning & Budgeting Management
Yunita Rustiandini Stephania Liedy (Act) Novianto Yudhi Istaryadi
Sr. Manager Manager Corporate Manager Internal Audit &
Operation Engineering Investment Appraisal Integrity Compliance
Akhmad Dumami (Act) Dipta Diwasasyri Nyimas Dewi Andriani
Sr. Manager Manager Shared
Technical Assurance Services & Transformation
Akhmad Dumami Hendra Yoswandi
Board of Directors
PT Medco Power
Indonesia
Page 118
2025 Management Business Company Corporate Sustainability
116 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
List of
Abbreviations
1 ABMS Anti-Bribery Management System 57 MPEI Medco Power Elektrika Indonesia
2 AGMS Annual General Meeting of Shareholders 58 MPES-Sulut PT Medco Power Energi Services-Sulut
3 BEI Indonesia Stock Exchange 59 MPES-Timor PT Medco Power Energi Services-Timor
4 BJI PT Bio Jatropha Indonesia 60 MPGE PT Medco Power Geothermal Energi
5 BOC Board of Commissioners 61 MPGS PT Medco Power Geothermal Services
6 BOD Board of Directors 62 MPSI PT Medcopower Servis Indonesia
7 CCBDO Chief Commercial & Business Development Officer 63 MPSS PT Medcopower Solar Sumbawa
8 CCPP Combined Cycle Power Plant 64 MPST PT Medco Pasifik Solar Transmisi
9 CEO Chief Executive Officer 65 MPTL PT Medcopower Transportasi Listrik
10 CFO Chief Financial Officer 66 MRPR PT Medco Ratch Power Riau
11 CFSPP Coal-Fired Steam Power Plant 67 MSBB PT Medco Solar Bali Barat
12 COD Commercial Operation Date 68 MSBT PT Medcosolar Bali Timur
13 Company PT Medco Power Indonesia 69 MSCI Morgan Stanley Capital International
70 MW Mega Watt
14 COO Chief Operating Officer
71 MWp Mega Watt peak
15 CSR Corporate Social Responsibility
72 NZE Net Zero Emissions
16 DEB PT Dalle Energy Batam
73 O&M Operation & Maintenance
17 E&P Exploration & Production
74 OE Operational Excellence
18 EBITDA Earnings before Interest, Tax, Depreciation
and Amortization 75 OEM Original Equipment Manufacturers
19 EDMS Electronic Document Management System 76 OHS Occupational Health and Safety
20 ELB PT Energi Listrik Batam 77 OHSMS OHS Management System
78 OJK Financial Services Authority
21 ELB Expansion PT Energi Listrik Batam
79 OSS-RBA Online Single Submission Risk-Based Approach
22 EPC Engineering, Procurement, Construction
80 PDCA Plan–Do–Check–Adjust
23 EPE PT Energi Prima Elektrika
81 PGN PT Perusahaan Gas Negara Tbk
24 ESDM Indonesian Ministry of Energy and Mineral Resources
82 PJBL Perjanjian Jual Beli Listrik
25 ESG Environmental Social Governance
83 PLN PT Perusahaan Listrik Negara (Persero)
26 FRA Fraud and Bribery Risk Assessments
84 PLNB PT Pelayanan Listrik Nasional Batam
27 FX Foreign Exchange
85 PLTGU Combined Cycle Power Plant
28 GCG Good Corporate Governance
86 POJK Financial Services Authority Regulations
29 GMS General Meeting of Shareholders
87 PPA Power Purchase Agreement
30 GRI Global Reporting Initiative 88 PPP PT Pembangkitan Pusaka Parahiangan
31 GWh Giga Watt hour 89 PROPER Company Performance Rating Programme in
32 Ha Hectare Environmental Management
33 HIRADC Hazard Identification and Risk Assessment 90 PSPE Preliminary Survey and Exploration
Determined Control 91 PT Limited Liability Company
34 HO Head Office 92 PV Photovoltaics
35 HR Human Resources 93 Q Quarter
36 HRSG Heat Recovery Steam Generator 94 ROA Return on Assets
37 HSE Health, Safety and Environment 95 ROE Return on Equity
38 IDX Indonesia Stock Exchange 96 RMS Risk Management System
39 IPP Independent Power Producer 97 Rp Rupiah
40 ISO International Organization for Standardization 98 RUPTL Electricity Supply Business Plan
41 JSA Job Safety Analysis 99 SCM Supply Chain Management
42 KPI Key Performance Indicator 100 SEOJK Financial Services Authority Circular Letter
43 KWh Kilo Watt hour 101 SRMC Sustainability & Risk Management Committee
44 LNG Liquefied Natural Gas 102 SKK Migas Special Task Force for Upstream Oil and
45 LOI Letter of Intent Gas Business Activities
46 LSR Life-Saving Rules 103 SMK3LL Occupational Health, Safety, and Environmental
Management System
47 LTI Lost Time Incident
104 SKKNI Sertifikat Kompetensi Tenaga Teknik Ketenagalistrikan
48 LTIR Lost Time Incident Rate
105 SKTTK Standar Kompetensi Kerja Nasional Indonesia
49 MCG PT Medco Cahaya Geothermal
106 SOL Sarulla Operations Ltd
50 MEB PT Mitra Energi Batam
107 TDI PT Teknologi Data Infrastruktur
51 Medco Power PT Medco Power Indonesia
108 TRIR Total Recordable Incident Rate
52 MedcoEnergi PT Medco Energi Internasional Tbk
109 TJBPS PT TJB Power Services
53 MGS PT Medco Geothermal Sarulla
110 US$ US Dollar
54 MGSu PT Medco Geothermal Sumatera
111 USTDA United States Trade and Development Agency
55 MMBTU Million British Thermal Unit
112 VP Vice President
56 MPE PT Mutidaya Prima Elektrindo
113 YPK PLN Yayasan Pendidikan dan Kesejahteraan PT PLN (Persero)
Page 119
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 117
Cross Reference to
OJK Requirements
SEOJK No. 16/SEOJK.04/2021 Page
Annual Report Format
1. Annual report is presented in printed and electronic formats.
2. The printed version of the annual report is printed on light-colored paper of fine quality, in A4 size, bound, and can
be reproduced in good quality.
3. Annual report may present information in the form of images, charts, tables and/or diagrams with clear titles and
descriptions to facilitate reading and understanding.
4. The electronic version of the annual report is presented in pdf format.
Annual Report Content
I. General Provision
a. Annual report at least contains the following information:
1. Summary of key financial information
2. Stock information (if any)
3. Board of Directors Report
4. Board of Commissioners Report
5. Profile of Issuer or Public Company
6. Management discussion and analysis
7. Corporate Governance of Issuer of Public Company
8. Corporate social and environmental responsibilities of Issuer of Public Company
9. Audited annual financial statements
10. Statement from members of Board of Directors and members of Board of Commissioners on accountability
for the Annual Report
2. Description of Content of Annual Report
a. Summary of Key Financial Information
Summary of Key Financial Information contains financial information presented in 3 (three) fiscal year
comparisons or since the commencement of the business if the Issuer or Public Company started its business
for less than 3 (three) years, and at least contain:
1. Revenue/Sales
2. Gross profit
3. Profit (loss)
4. total profit (loss) attributable to equity holders of the parent entity and non-controlling interest
5. Total comprehensive profit (loss)
6. Total comprehensive profit (loss) attributable to equity holders of the parent entity and non-controlling
interest
38-39
7. Earning (loss) per share
8. Total assets
9. Total liabilities
10. Total equities
11. Profit (loss) to total assets ratio
12. Profit (loss) to equities ratio
13. Profit (loss) to income ratio
14. Current ratio
15. Liabilities to equities ratio
16. Liabilities to total assets ratio
17. Other information or financial ratios relevant to the Issuer or Public Company and the type of industry
Page 120
2025 Management Business Company Corporate Sustainability
118 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Cross Reference to
OJK Requirements
SEOJK No. 16/SEOJK.04/2021 Page
b. Stock Information
Stock information (if any) contains at least:
1. Shares issued for every quarter presented in a comparative format for the last 2 fiscal years, covering at
least:
(a) Number of outstanding shares
(b) Market capitalisation is based on the price at the stock exchange where the shares are listed on
(c) Highest, lowest, and closing share prices at the stock exchange where the shares are listed on
(d) Trading volume at the stock exchange where the shares are listed on.
(e) Information in letter b), c), and letter d) are only disclosed if the Issuer is a Public Company and its shares
are listed on the Stock Exchange;
2. In the event of corporate actions, such as stock split, reverse stock, issuance of dividends, issuance of bonus
shares, and change in share par value, then the share price referred to in point 1) should be added with 42
explanation on:
(a) Date of corporate action
(b) Ratios of stock split, reverse stock, dividend, bonus share and changes in the shares’ par value
(c) Number of outstanding shares prior to and after corporate action
(d) Amount of convertible bonds/stocks exercised (if any)
(e) Share price prior to and after corporate action.
3. In the event that the company’s shares were suspended or delisted from trading during the financial year,
then the Issuer should provide explanation on the reason for the suspension and/or delisting.
4. In the event that the suspension and/or delisting as referred to in point 3) was still in effect until the date of
the annual report, then the Issuer or Public Company should explain the actions taken to resolve the
suspension and/or delisting.
c. The Board Of Directors Report
The Board of Directors report should at least contain:
1. The performance of the Issuer or Public Company, at least covering:
(a) Strategy and strategic policies of the Issuer or Public Company
(b) The roles of the Board of Directors in the Issuer’s or Public Company’s strategy and strategic policy
12-14
formulation
(c) Actions taken by the Board of Directors to ensure the implementation of the Issuer’s or Public Company’s
strategies
(d) Comparison between results and targets
(e) Challenges faced by the Issuer or Public Company.
2. Description of business prospects. 15
3. Implementation of the Issuer’s or Public Company’s GCG practices. 13-15
d. The Board Of Commissioners Report
The Board of Commissioners report should at least contain:
9
1. Assessment on the performance of the Board of Directors in the management of the Issuer or Public
Company.
2. View on the business prospects of the Issuer or Public Company as prepared by the Board of Directors. 11
3. View on the Issuer’s or Public Company’s GCG practices. 9-11
e. Profile of the Issuer or Public Company
Profile of the Issuer or Public Company should cover at least:
1. Name of Issuer or Public Company, including change of name, reason of change, and the effective date of
the name change during the year under review. 43
2. Access to Issuer or Public Company, including branch office(s) or representative office(s), where public can
have access to information of the Issuer or Public Company, which include: address, telephone number,
e-mail address and website address.
Page 121
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 119
SEOJK No. 16/SEOJK.04/2021 Page
3. Brief history of the Issuer or Public Company. 36-38 32-34
4. Vision, mission and corporate culture/values of the Issuer or Public Company. 35
5. Line of business according to the latest articles of association, line of business carried out in the fiscal year,
26-27
and types of products and/or services produced.
6. The operation coverage of the Issuer or Public Company. 2-3
7. Structure of organisation of the Issuer or Public Company in chart format, at least covering one level below
the Board of Directors, including committees under the Board of Directors (if any) and under the Board of 115
Commissioners, with the names and titles.
8. Memberships in national and international industry associations. 43
9. Profiles of members of the Board of Directors, covering at least:
(a) Name and position according to duties and responsibilities
(b) Lates photograph
(c) Age
(d) Citizenship
(e) Education and/or certification
(f) Employment history, covering information on:
37
(1) Legal basis for the appointment as a member of the Board of Directors to the said Issuer or Public
Company
(2) Concurrent positions, as a member of the Board of Directors, a member of the Board of
Commissioners, and/or a member of committees and other positions (if any)
(3) Work experience and term of office in and outside of the Issuer or Public Company
(g) Disclosure of affiliation with other members of the Board of Directors, members of the Board of
Commissioners, the majority shareholders (if any), including the name of the affiliated party
(h) Changes and reasons for the change in the composition of the Board of Directors.
10. Profiles of members of the Board of Commissioners, covering at least:
(a) Name and position
(b) Latest photograph
(c) Age
(d) Citizenship
(e) Education and/or certification
(f) Employment history, covering information on:
(1) Legal basis for the appointment as a member of Board of Commissioners
(2) Legal basis for the first appointment as a member of the Board of Commissioners who is also an
Independent Commissioner at the said Issuer or Public Company
(3) Concurrent positions, as a member of the Board of Commissioners, a member of the Board of 36
Directors, and/or a member of committees and other positions (if any)
(4) Work experience and term of office in and outside of the Issuer or Public Company
(g) Disclosure of affiliation with other members of the Board of Commissioners, the majority shareholders (if
any), including the name of the affiliated party
(h) Statement of independence of Independent Commissioner in the event that the Independent
Commissioner has been appointed more than 2 (two) periods
(i) Changes and reasons for the change in the composition of the Board of Commissioners.
11. In the event that there were changes to the composition of the Board of Directors and/or the Board of
Commissioners, occurring after the end of the reporting year up to the deadline for submission of the Annual
Report, then the Annual Report discloses the last and the previous composition of the Board of
Commissioners and/or the Board of Directors.
Page 122
2025 Management Business Company Corporate Sustainability
120 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Cross Reference to
OJK Requirements
SEOJK No. 16/SEOJK.04/2021 Page
12. Employee statistics by gender, position, age, education level, type of employment within the reporting year.
92-93
Information disclosure can be presented in tabular form
13. Names of shareholders and the percentage of ownership at the beginning and at the end of the reporting
year, including information on:
(a) Shareholders having 5% or more shares of Issuer or Public Company
(b) Members of the Board of Directors and Board of Commissioners who own shares of the Issuers or
Public Company
(c) Groups of public shareholders (each with less than 5% share ownership).
14. Percentage of indirect share ownership of members of the Board of Directors and Board of Commissioners
at the beginning and at the end of the reporting year.
42
15. Number of shareholders and percentage of share ownership based on:
(a) Ownership by local institutions
(b) Ownership by foreign institutions
(c) Ownership by local individuals
(d) Ownership by foreign individuals.
16. Information on the direct and indirect majority and controlling shareholders of the Issuer or Public Company,
both directly and indirectly, as well as individual shareholders, presented in the form of a chart or diagram.
17. Names of subsidiaries, associated companies, joint ventures controlled by the Issuer or Public Company (if
any), with information on the percentage of stock ownership, line of business, total assets and operating 114
status of these entities. For subsidiaries, disclose the addresses of all subsidiaries.
18. Chronology of share listing, number of shares, nominal value, and offering price from the beginning of the
listing up to the end of the reporting year, and the name of the Stock Exchange where the Issuer of Public 42
Company shares are listed.
19. Information on securities listing other than the said security in point 18), containing at least the name of the
44-45
Securities, year of issuance, interest rate/yield, date of maturity, offering price, and rating of the securities (if any).
20. Public accountant services and public accounting firms and their networks/associations/allies, including:
(a) Name and address
(b) Assignment period
(c) Information on audit and/or non-audit assignments
(d) Audit and/or non-audit service fees for each reporting year
43
(e) Disclose the information if there is no non-audit service provided.
21. Names and addresses of other capital market-supporting institutions and/or professions.
f. Management Discussion and Analysis
The management discussion and analysis section contains analysis and discussion on the financial statements
and other material information with emphasis on material changes that occurred during the financial year, at
least including:
1. Operational review per segment of operations according to the type of industry of the Issuer or Public
Company, containing at least:
(a) Production, including process, capacity, and growth 20
(b) Sales/revenue
(c) Profitability.
2. A comprehensive analysis on the financial statements that includes a comparison between the financial
performance of the last 2 (two) financial years, and explanation on the causes and impact of such changes, at
least covering:
(a) Current assets, non-current assets, and total assets 21-22
(b) Short-term liabilities, long-term liabilities and total liabilities
(c) Equities
Page 123
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 121
SEOJK No. 16/SEOJK.04/2021 Page
(d) Revenue/sales, expenses, profit (loss), other comprehensive income, and total comprehensive
profit (loss), and 21-22
(e) Cash flows.
3. The capacity to pay debts by providing the relevant ratios.
4. Account receivables collectability of the Issuer or Public Company by providing the relevant ratios.
5. Capital structure and \ management policies concerning capital structure, including the basis for the policy.
6. Discussion on material ties for capital goods investments, along with including information on at least:
(a) The purpose of such ties
(b) Source of funds to fulfil such ties
(c) Currency of denomination
(d) Measures taken by the Issuer or Public Company to protect the position of a related foreign currency 23
against risk.
7. Discussion on investment in capital goods realised in the last fiscal year, at least covers:
(a) Type of capital goods investment
(b) The objective of capital goods investment
(c) Value of the investment of capital goods.
8. Material information and facts occurring after the date of the accountant’s report (if any).
9. Information on the prospect of the Issuer or Public Company in connection with the condition of the industry,
economy in general and the international market, supported with quantitative data from reliable sources.
10. Comparison between the targets/projection at the beginning of the financial year and the results
achieved, concerning:
(a) Revenue/sales
(b) Profit (loss)
(c) Capital structure
(d) Other matters considered material for the Issuer or Public Company.
11. Targets/projections for the next one year concerning:
11, 27
(a) Revenue/sales
(b) Profit (loss)
(c) Capital structure
(d) Dividend policy
(e) Other matters considered material for the Issuer or Public Company.
12. Marketing aspects of the products and/or services of the Issuer or Public Company, at least concerning the
marketing strategy and market share.
13. Description regarding dividends during the last 2 fiscal years (if any), including at least:
(a) Dividend policy
(b) Date of cash dividend payment and/or date of non-cash dividend distribution;
(c) Amount of dividend per share (cash and/or non-cash)
(d) Total dividend distributed per year.
23
14. Realisation of the use of proceeds from Public Offerings, under the condition of:
(a) During the reporting year, on which the Issuer has the obligation to report the realisation of the use of
proceeds, then the realisation of the cumulative use of proceeds until the year end should be disclosed
(b) In the event that there were changes in the use of proceeds as stipulated in the Regulation of the
Financial Services Authority on the Report of the Utilisation of Proceeds from Public Offering, then Issuer
should provide an explanation on such change.
Page 124
2025 Management Business Company Corporate Sustainability
122 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Cross Reference to
OJK Requirements
SEOJK No. 16/SEOJK.04/2021 Page
15. Material information (if any), among others concerning investment, expansion, divestment, merger,
acquisition, debt/capital restructuring, transactions with related parties and transactions with conflict of
interest that occurred in the reporting year, covering:
(a) Date, value, and object of the transaction
(b) Names of transacting parties
(c) Nature of the affiliation (if any)
(d) Description of the fairness of the transaction
(e) Compliance with related regulations
(f) In the event that there is an affiliation relationship, the Issuer or Public Company also discloses
information:
(1) Statement of the Board of Directors that affiliated transactions have gone through adequate
procedures to ensure that transactions are carried out in accordance with generally accepted business
practices, among others carried out by complying with the arms-length principles
(2) The roles of the Board of Commissioners and Audit Committee to ensure that transactions are carried 23
out in accordance with generally accepted business practices, among others carried out by complying
with the arms-length principles.
(g) For affiliated transactions or material transactions which are business activities carried out in order to
generate business income and are carried out regularly, repeatedly and/or continuously, an explanation is
added that the affiliated transactions or material transactions are business activities carried out in order to
generate business income and are carried out regularly, repeatedly and/or continuously.
(h) For the disclosure of affiliated transactions and/or transactions with conflict of interest resulting from the
implementation of affiliated transactions and/or conflict of interest transactions that have been approved
by independent shareholders, information is added regarding the date of the GMS that approved the
affiliated transactions and/or conflict of interest transactions.
(i) In the event that there is no affiliated transaction and/or conflict of interest transaction, it is disclosed;
16. Changes in regulations that have a significant effect on the Issuer or Public Company and impacts on the
financial statements (if any).
17. Changes in the accounting policy, rationale and impact on the financial statement (if any).
g. Corporate Governance
The corporate governance of the Issuer or Public Company at least contains descriptions on:
1. The GMS, contains at least:
(a) Information regarding the resolutions of the GMS in the reporting year and one year prior to the reporting
year, covering:
(1) Resolutions of the GMS in the reporting year and one year prior the reporting year that were realised 49
during the reporting year
(2) Resolutions of the GMS in the reporting year and one year prior the reporting year that have not been
realised and the reasons
(b) In the event that the Issuer or Public Company is assisted by an independent party in the implementation
of the GMS to carry out the vote counting, then this matter is to be disclosed.
2. The Board of Directors, at least covering:
(a) Duties and responsibilities of each member of the Board of Directors
(b) Statement that the Board of Directors has a board charter
(c) Policies and frequency of the Board of Directors meetings, including meetings with the Board of
Commissioners and attendance records of members of the Board of Directors in these meetings
51-52
(d) Training and/or Board of Directors’ competence development:
(1) Training and/or competence development policies for members of the Board of Directors, including
orientation programmes for newly appointed members of the Board of Directors
(2) Training and/or competence development activities attended by members of the Board of Directors
during the reporting year
Page 125
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 123
SEOJK No. 16/SEOJK.04/2021 Page
(e) Assessment on the performance of the committees that assist the execution of the duties of the
Board of Directors during the reporting year, at least covering:
(1) Performance evaluation procedure
51-52
(2) Criteria used
(f) In the event that the Issuer or Public Company does not establish any committee to support the
Board of Directors in performing their duties, then this matter is to be disclosed.
3. The Board of Commissioners, at least covering:
(a) Duties and responsibilities of the Board of Commissioners
(b) Statement that the Board of Commissioners has a board charter
(c) Policies and frequency of the Board of Commissioners meetings, including meetings with the Board
of Directors and attendance records of members of the Board of Commissioners in these meetings,
including attendance in GMS
(d) Training and/or Board of Commissioners’ competence development:
(1) Training and/or competence development policies for members of the Board of Commissioners,
including orientation programmes for newly appointed members of the Board of Commissioners
(2) Training and/or competence development activities attended by members of the Board of
Commissioners during the reporting year
(e) Assessment on the performance of the Board of Directors and Board of Commissioners, and each
member of the Board of Directors and Board of Commissioners, at least covering:
(1) Performance evaluation implementation procedure
(2) Criteria used
(3) The party conducting the assessment
(f) Assessment on the performance of the committees that assist the execution of the duties of the
Board of Commissioners during the reporting year, at least covering:
49-50
(1) Performance evaluation procedure
(2) Criteria used.
4. The nomination and remuneration of the Board of Directors and the Board of Commissioners shall at least cover:
(a) The nomination procedure
(b) Procedure and implementation of the Board of Directors and Board of Commissioners remuneration,
among others:
(1) Procedures to determine the remuneration of the Board of Directors and Board of Commissioners
(2) The structure of the Board of Directors’ and Board of Commissioners’ remuneration
(3) Total remuneration of each member of the Board of Directors and Board of Commissioners.
5. Sharia Supervisory Board, for Issuers or Public Companies that conduct business based on the sharia
principles, as stipulated in the articles of association, at least containing disclosing:
(a) Name
(b) Legal basis for the appointment of the Sharia Supervisory Board
(c) The term of office of the Sharia Supervisory Board
(d) Duties and responsibilities of the Sharia Supervisory Board
(e) Frequency and mechanism for providing advice and recommendations, as well as the supervision on
the Issuer’s or Public Company’s fulfilment of the sharia principles in the capital market.
6. Audit Committee, covering at least:
(a) Name and position in the Committee
(b) Age 53-54
(c) Citizenship
(d) Education background
Page 126
2025 Management Business Company Corporate Sustainability
124 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Cross Reference to
OJK Requirements
SEOJK No. 16/SEOJK.04/2021 Page
(e) Employment history, including:
(1) Legal basis for the appointment as member of the Committee
(2) Concurrent positions, either as a member of Board of Commissioners, a member of Board of
Directors, and/or a member of committees and other positions (if any)
(3) Working experience and terms of office in and outside of the Issuer or Public Company
(f) Period and terms of office as member of the Audit Committee 53-54
(g) Statement of independence of the Audit Committee
(h) Training and/or competence development attended in the reporting year
(i) Policies and frequency of the Audit Committee meetings and the attendance record of members of the
Audit Committee in these meetings
(j) Audit Committee’s activities in the reporting year as stipulated in the Audit Committee charter
7. Nomination and Remuneration Committee or function, covering at least:
(a) Name and position in the Committee/function
(b) Age
(c) Citizenship
(d) Education background
(e) Employment history, including:
(1) Legal basis for the appointment as member of the Committee/function
(2) Concurrent positions, either as a member of Board of Commissioners, a member of Board of
Directors, and/or a member of committees and other positions (if any)
(3) Working experience and terms of office in and outside of the Issuer or Public Company
55
(f) Period and terms of office as a member of the Committee/function
(g) Statement of independence of the Committee/function
(h) Training and/or competence development attended in the reporting year
(i) Duties and responsibilities
(j) A statement that the Committee/function has a Committee charter
(k) Policies and frequency of meetings and members’ attendance record in these meetings
(l) Activities in the reporting year
(m) In the event that the Nomination and Remuneration Committee is not formed, disclose:
(1) Reasons for not forming the Committee
(2) Parties executing the nomination and remuneration function.
8. Other Committees to support the function and duties of the Board of Directors and/or the Board of
Commissioners, covering at least:
(a) Name and position in the Committee
(b) Age
(c) Citizenship
(d) Education background
(e) Employment history, including: 56
(1) Legal basis for the appointment as member of the Committee
(2) Concurrent positions, either as a member of Board of Commissioners, a member of Board of
Directors, and/or a member of committees and other positions (if any)
(3) Working experience and terms of office in and outside of the Issuer or Public Company
(f) Period and terms of office as a member of the Committee
(g) Statement of Independence of the Committee
Page 127
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 125
SEOJK No. 16/SEOJK.04/2021 Page
(h) Training and/or competence development attended in the reporting year
(i) Duties and responsibilities
(j) A statement that the Committee has a Committee charter 56
(k) Policies and frequency of Committee meetings and members’ attendance record in these meetings
(l) Activities of the Committee in the reporting year
9. Corporate Secretary, covering at least:
(a) Name
(b) Domicile
(c) Employment history, including:
(1) Legal basis for the appointment as Corporate Secretary 57
(2) Working experience and terms of office within and outside of the Issuer or Public Company
(d) Education background
(e) Training and/or competence development attended in the reporting year
(f) Implementation of duties of the Corporate Secretary in the reporting year
10. Internal Audit unit, covering at least:
(a) Name
(b) Employment history, including:
(1) Legal basis for the appointment as Head of the Internal Audit unit
(2) Working experience and terms of office in and outside of the Issuer or Public Company
(c) Qualifications or Certifications related to the internal audit profession (if any) 58-59
(d) Training and/or competence development attended in the reporting year
(e) Structure and position of the Internal Audit Unit
(f) Duties and responsibilities
(g) A statement that the Internal Audit unit has a charter
(h) Implementation of duties of the Internal Audit unit in the reporting year
11. Description on the internal control system implemented, covering at least:
(a) Financial and operational control, and compliance with other prevailing regulations
(b) Review on the effectiveness of the internal control system 63
(c) Statement of the Board of Directors and/or Board of Commissioners on the adequacy of the internal
control system
12. Risk management system implemented covering at least:
(a) Overview of the risk management system
(b) Types of risk and risk mitigation measures
60-62
(c) Review on the effectiveness of the risk management system applied by the Issuer or Public Company
(d) Statement of the Board of Directors and/or Board of Commissioners or Audit Committee on the adequacy
of the risk management system.
13. Legal cases with material impact faced by the Issuer or Public Company, its subsidiaries members of the
Board of Directors and Board of Commissioners (if any), covering at least:
(a) Substance of the case/claim
(b) Case/claim status
65
(c) Impact on the condition of the Issuer or Public Company
14. Information on administrative sanctions imposed to the Issuer or Public Company, members of the Board of
Directors and the Board of Commissioners, by the Capital Market Authority or other authorities during the
reporting year (if any)
Page 128
2025 Management Business Company Corporate Sustainability
126 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Cross Reference to
OJK Requirements
SEOJK No. 16/SEOJK.04/2021 Page
15. Information on the company’s code of conduct, including:
(a) Key points of the code of conduct
(b) Socialisation and enforcement of the code of conduct
(c) Statement that the code of conduct applies to members of the Board of Directors, the Board of
Commissioners, and employees of the Issuer or Public Company
16. Description of the long-term performance-based compensation policy for management and/or employees,
including the management stock ownership programme (MSOP) and/or the employee stock ownership
programme (ESOP).
The information disclosed at least contains:
(a) Number of shares and/or options 64-65
(b) Implementation period
(c) Requirements for eligible employee and/or management
(d) Exercise price or determination of exercise price.
17. Description of the information disclosure policy regarding:
(a) Share ownership of members of the Board of Directors and members of the Board of Commissioners no
later than three working days after the occurrence of ownership or any change in the ownership of the
Public Company’s shares
(b) Implementation of the policy.
18. Description of the whistleblowing system, covering at least:
(a) Violation reporting mechanism
(b) Whistleblower protection
(c) Report handling
63-64
(d) The unit was responsible for report handling
(e) Results of the report handling, covering at least
(1) Number of complaints received and processed during the reporting year
(2) Follow up of complaints.
19. Description of the anti-corruption policy, covering at least:
(a) Programmes and procedures implemented to address corrupt practices, kickbacks, bribery and/or
gratification
(b) Employee anti-corruption training/socialisation
20. Implementation of the corporate governance guidelines for public companies for Issuers issuing equity based 64-65
securities, covering:
(a) Statement regarding the recommendations that have been implemented and/or
(b) Description of recommendations that have not been implemented, along with the reasons and alternative
measures (if any).
h. Corporate Social and Environmental Responsibility
1. In the event that the Sustainability Report is presented separately from the Annual Report, then the social and
environmental responsibility section contains information that reports regarding social and environmental
responsibility have been disclosed in the Sustainability Report which is presented separately from the Annual Report.
As referred to in the Financial Services Authority Regulation Number 51/POJK.03/2017 concerning the This information
Implementation of Sustainable Finance for Financial Services Institutions, Issuers, and Public Companies, at is presented in
least contains: the discussion of
the Sustainability
(a) Explanation of the sustainability strategy;
Report from
(b) Overview of sustainability aspects (economic, social, and environmental); pages 66 to 111
(c) Brief profile of the Issuer or Public Company;
(d) Explanation of the Board of Directors;
(e) Sustainability governance
Page 129
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 127
SEOJK No. 16/SEOJK.04/2021 Page
(f) Sustainability performance
(g) Written verification from independent parties, if any;
(h) Feedback sheet for readers, if any; and
(i) Issuer's or Public Company's response to previous year's report feedback
2. The Sustainability Report presented separately from the Annual Report is to be submitted together with the
submission of the Annual Report
3. The Sustainability Report information in point 1) may:
(a) Disclosed in other relevant sections outside the social and environmental responsibility section, such as
the explanation of the Board of Directors regarding the Sustainability Report disclosed in the relevant
section of the Board of Directors’ Report; and/or
(b) Refer to other sections outside the social and environmental responsibility section while still referring to
the Technical Guidelines for the Preparation of Sustainability Report for Issuers and Public Companies as This information
set out in Appendix II which is an integral part of this Circular Letter of the Financial Services Authority, is presented in
such as the profile of the Issuer or Public Company; the discussion of
the Sustainability
4. The Sustainability Report as referred to in point 1) is an integral part of the Annual Report but may be Report from
presented separately with the Annual Report; pages 66 to 111
5. In the event that the Sustainability Report is presented separately from the Annual Report, the information
disclosed in the Sustainability Report must:
(a) Contain all information as referred to in point 1); and
(b) Be prepared in accordance with the Technical Guidelines for the Preparation of Sustainability Report for
Issuers and Public Companies as set out in Appendix II which is an integral part of this Circular Letter of
the Financial Services Authority;
6. In terms of the Sustainability Report presented separately from the Annual Report, the social and environmental
responsibility section shall contain information that information on social and environmental responsibility
has been disclosed in the Sustainability Report presented separately from the Annual Report; and
7. Submission of the Sustainability Report that is presented separately from the Annual Report must be
submitted together with the submission of the Annual Report.
i. Audited Annual Financial Statement
The financial statements included in the Annual Report are prepared in accordance with the Financial Accounting
Standards in Indonesia and audited by a public accountant registered with the Financial Services Authority. The
Financial Report contains a statement regarding the accountability for financial reports as regulated in the POJK 134
concerning the Responsibilities of the Board of Directors on the Financial Report or the laws and regulations in
the capital market sector that govern periodic reports of securities companies in the event that the Issuer is a
securities company.
j. Letter of statement of Members of the Board of Directors and Board of Commissioners regarding the
responsibility for the Annual Report.
The statement letter of members of the Board of Directors and members of the Board of Commissioners
regarding responsibility for the Annual Report is prepared in accordance with the format of the Statement Letter 111
of Members of the Board of Directors and Members of the Board of Commissioners regarding Responsibility for
the Annual Report as set out in the Appendix which is an integral part of this Circular Letter of the Financial
Services Authority.
Page 130
2025 Management Business Company Corporate Sustainability
128 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
POJK 51
Reference Index [OJK G.4]
No. Index Name Index Page
Sustainability Strategy
A.1 Explanation on Sustainability Strategies 74-77
Overview of Sustainability Aspects Performance 78-79, 85-110
B.1 Economy Aspects 85
B.2 Environmental Aspects 78-79, 86-91
B.3 Social Aspects 92-110
Company Profile
C.1 Vision Mission, Sustainable Values 35
C.2 Company Address 43
C.3 Business Scale:
a. Total assets or assets capitalisation and total liabilities;
21, 28-29,
b. Total employee based on gender, position, age, education and employment status;
42-43, 92-93
c. Percentage of share ownership; and
d. Operational area.
C.4 Product, Service and Business Activities 26-27
C.5 Member Association 43
C.6 Significant Changes None
Director Explanation
D.1 Director Explanation 10-11
Sustainable Corporate Governance
E.1 Person in Charge Responsibility for Sustainable Finance 80
E.2 Sustainable Finance Competency Development 81,97
E.3 Sustainable Finance Risk Assessment Implementation 81-82
E.4 Stakeholders Relations 83
E.5 Sustainable Finance Implementation Problems 84
Sustainable Performance
F.1 The Activities of Building a Culture of Sustainability 35
Economic Performance
F.2 Comparison of Production Targets and Performance, Portfolio, Financial Targets, or Investment,
85
Revenue and Profit
F.3 Comparison of Portfolio Targets and Performance, Financing Targets, or Investments in Financial
85
Instruments or Projects in Line With the Implementation of Sustainable Finance
Environmental Performance
F.4 Environment Cost Incurred 87
Material Aspect
F.5 Use of Environmentally Friendly Materials 87
Energy Aspect
F.6 The Amount and Intensity of Energy Used 87-88
F.7 Efforts and Achievement of Energy Efficiency Including Use of Renewable Energy Sources 87-88
Water Aspect
F.8 Water Used 90
Biodiversity Aspect
F.9 Impacts from Operational Areas Close to or in Conservation Areas or Having Biodiversity 91
F.10 Biodiversity Conservation Efforts 92
Page 131
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 129
No. Index Name Index Page
Emission Aspect
F.11 The Amount and Intensity of Emissions Produced by Type 88
F.12 Efforts and Achievement Emission Reduction Carried Out 88
Waste and Effluent Aspect
F.13 The Amount of Waste and Effluent Produced by Type 89
F.14 Mechanism of Waste and Effluent Management 89
F.15 Spills that Occur (if any) 89
Environmental Complaint Aspect
F.16 The Amount and Material of Environmental Complaints Received and Resolved 91
Social Aspect
F.17 Commitment to Provide Services for Equivalent Products and/or Services to Consumers 85
Employment Aspect
F.18 Equality of Employment Opportunities 93
F.19 Child Labor and Forced Labour 93
F.20 The Regional Minimum Wage 94
F.21 Decent and Safe Working Environment 99
F.22 Training and Capacity Building of Employees 98
Society Aspect
F.23 Operational Impacts to the Surrounding Community 81-82
F.24 Public Complaints 107
F.25 Environmental and Social Responsibility Activities 107-110
Responsibilities for Developing Sustainable Products/Services
F.26 Innovation and Development of Sustainable Financial Products and/or Services 86
F.27 Products/Services that have been Evaluated for Safety for Customers 106
F.28 Products/Service Impacts 106
F.29 Number of Products Recalled 106
F.30 Customer Satisfaction Survey of Sustainable Finance and/or Services None
Lain-lain
G.1 Written Verification from an Independent Party (if any) 68
G.2 Feedback Form None
G.3 Feedback on Previous Year’s Sustainability Report 68
G.4 Disclosure List Based on POJK No.51/POJK.03/2017 regarding the Implementation of Sustainable
128
Finance for Financial Services Institutions, Listed Companies and Public Companies
Page 132
2025 Management Business Company Corporate Sustainability
130 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
GRI Index
Statement of use PT Medco Power Indonesia has reported the information cited in this GRI content index for the period January
1st-December 31st 2025 with reference to the GRI Standards.
GRI 1 used GRI 1: Foundation 2021
GRI Standard Disclosure Page
GRI 2 2-1 Organization Details 2-3, 43
2-2 Entities Included in the Consolidated Financial Statement 68
2-3 Reporting Period, Frequency and Contact Point 68
2-4 Restatement of Information 68
2-5 External Assurance 68
2-6 Activities, Value Chain and Other Business Relationships 26-27, 43
2-7 Employees 92-93
2-8 Workers Who Are Not Employees 92-93
2-9 Governance Structure and Composition 48
2-12 Role of the Highest Governance Body in Overseeing the Management of Impacts 80-81
2-13 Delegation of Responsibility for Managing Impacts 80-81
2-14 Role of the Highest Governance Body in Sustainability Reporting 80-81
2-16 Communication of Critical Concern 63
2-17 Collective Knowledge of the Highest Governance Body 81
2-18 Evaluation of the Performance of the Highest Governance Body 52
2-22 Statement on Sustainable Development Strategy 12
2-23 Policy Commitments 74
2-24 Embedding Policy Commitments 74
2-25 Processes to Remediate Negative Impacts 81
2-26 Mechanism for Seeking Advice and Raising Concern 63
2-28 Membership Associations 43
2-29 Approach to Stakeholder Engagement 83
2-30 Collective Bargaining Agreements 94
GRI 3 3-1 Process to Determine Material Topics 69
3-2 List of Material Topics 69
Economic
GRI 3 3-3 Management of Material Topics 85
GRI 201 201-1 Direct Economic Value Generated and Distributed 85
Economic
201-2 Financial Implications and Other Risk and Opportunities Due to Climate Change 79
Performance
201-3 Defined Benefit Plan Obligations And other Retirement Plans 94
201-4 Financial Assistance Received From Government 85
GRI 3 3-3 Management of Material Topics 70
GRI 204 204-1 Proportion of Spending on Local Suppliers 84
Procurement
Practices
Page 133
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 131
GRI Standard Disclosure Page
Environment
GRI 3 3-3 Management of Material Topics 86
GRI 302 302-1 Energy Consumption Within the Organization 87-88
Energy
302-3 Energy Intensity 87-88
GRI 3 3-3 Management of Material Topics 86
GRI 303 303-1 Interactions With Water As A Shared Resource 90
Water and
303-3 Water Withdrawal 90
Effluents
GRI 3 3-3 Management of Material Topics 86
GRI 304 304-1 Operational Sites Owned, Leased, Managed In, or Adjacent to, Protected Areas and Areas of 91
Biodiversity High Biodiversity Value Outside Protected Areas
304-2 Significant Impacts of Activities, Products, and Services on Biodiversity 91
GRI 3 3-3 Management of Material Topics 86
GRI 305 305-1 Direct GHG Emissions (Scope1) 88
Emission
305-2 Energy Indirect (Scope 2) GHG Emmisions 88
305-3 Other Indirect (Scope 3) GHG Emmisions 88
305-4 GHG Emissions Intensity 88
305-7 Nitrogen Oxides (NOX), Sulfur Oxides (SOX), and Other Significant Air Emissions 88
GRI 3 3-3 Management of Material Topics 86
GRI 306 306-2 Management of Significant Waste-related Impacts 88
Waste
Social
GRI 3 3-3 Management of Material Topics 92
GRI 401 401-1 New Employee Hires and Employee Turnover 96
Employment
401-2 Benefits Provided to Full-time Employees That Are Not Provided to Temporary or 94
2016
Part-Time Employees
GRI 3 3-3 Management of Material Topics 102
GRI 403 403-1 Occupational Health and Safety Management System 102
Occupational
403-2 Hazard Identification, Risk Assessment, and Incident Investigation 103
Health and
Safety 403-3 Occupational Health Services 104
403-4 Worker Participation, Consultation, and Communication on Occupational Health and Safety 104
403-5 Worker Training On Occupational Health and Safety 104
403-6 Promotion of Worker Health 104
403-8 Workers Covered by an Occupational Health and Safety Management System 102
403-9 Work-related Injuries 106
403-10 Work-related Ill Health 103
GRI 3 3-3 Management of Material Topics 92
GRI 404 404-1 Average Hours of Training Per Year Per Employee 98
Training &
404-2 Programmes for Upgrading Employee Skills and Transition Assistance Programmes 99
Education
GRI 3 3-3 Management of Material Topics 107
GRI 413 413-1 Operations with Local Community Engagement, Impact Assessments, and 107
Local Development Programmes
Community
413-2 Operations with Significant Actual and Potential Negative Impacts On Local Communities 107
Page 134
2025 Management Business Company Corporate Sustainability
132 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Feedback
Form
Please tick the Box for the stakeholder group that best describes you:
Employee Regulator Others: ___________________
Contractor/Sub-contractor/Vendor/Supplier NGO
Customer Media
Investor / Financial Analyst / Shareholders Student / Academics
Please rate the report for:
(1 being POOR up to 5 being EXCELLENT)
Parameter 1 2 3 4 5
Meeting your information needs
Content completeness
Transparency
Clarity and easy to understand
Ease in finding information
Overall Report
Does the report address your main concerns about our sustainability performance?
Please elaborate
How could we improve this report in the future
Please send this feedback sheet to:
PT Medco Power Indonesia
Attn: Corporate Secretary, Email: corsec.mpi@medcoenergi.com
The Energy Building 8th floor, SCBD Lot 11A
Jl. Jend. Sudirman, Kav. 52-53, Jakarta 12190, Indonesia
T: 021-2995 3300, F: 021-2995 3301
www.medcopower.co.id
Thank You
Page 135
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 133
PT Medco Power Indonesia
dan Entitas Anaknya/ and its Subsidiaries
Laporan keuangan konsolidasian tanggal 31 Desember 2025
dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen/
Consolidated financial statements as of December 31, 2025
and for the year then ended
with independent auditor's report
Page 136
2025 Management Business Company Corporate Sustainability
134 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN CONSOLIDATED FINANCIAL STATEMENTS
TANGGAL 31 DESEMBER 2025 AS OF DECEMBER 31, 2025
DAN UNTUK TAHUN YANG BERAKHIR AND FOR THE YEAR THEN ENDED
PADA TANGGAL TERSEBUT WITH INDEPENDENT AUDITOR’S REPORT
BESERTA LAPORAN AUDITOR INDEPENDEN
Daftar Isi Table of Contents
Halaman/
Page
Surat Pernyataan Direksi Statement Letter of Board of Directors
Laporan Auditor Independen Independent Auditor’s Report
Laporan Posisi Keuangan Konsolidasian 1-3 Consolidated Statement of Financial Position
Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or Loss and
Komprehensif Lain Konsolidasian 4-5 Other Comprehensive Income
Laporan Perubahan Ekuitas Konsolidasian 6 Consolidated Statement of Changes in Equity
Laporan Arus Kas Konsolidasian 7-8 Consolidated Statement of Cash Flows
Catatan Atas Laporan Keuangan Notes to the Consolidated Financial
Konsolidasian 9 - 153 Statement
Page 137
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 135
Page 138
2025 Management Business Company Corporate Sustainability 136 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
Page 139
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 137
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen Independent Audit or’s Report
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 2/ 1/ IV/ 2026
Pemegang Saham, Dewan Komisaris, dan Direksi The Shareholders and t he Boards of
PT Medco Power Indonesia Commissioners and Direct ors
PT Medco Power Indonesia
Opini Opinion
Kami telah mengaudit laporan keuangan We have audited the accompanying consolidated
konsolidasian PT Medco Power Indonesia financial statements of PT Medco Power Indonesia
(“ Perusahaan” ) dan entitas anaknya (the “ Company” ) and its subsidiaries
(secara kolektif disebut sebagai “ Grup” ) terlampir, (collectively referred to as the “ Group” ), which
yang terdiri dari laporan posisi keuangan comprise the consolidated statement of financial
konsolidasian tanggal 31 Desember 2025, serta position as of December 31, 2025, and the
laporan laba rugi dan penghasilan komprehensif consolidated statement of profit or loss and other
lain konsolidasian, lapor an perubahan ekuitas comprehensive income, consolidated statement of
konsolidasian, dan laporan arus kas konsolidasian changes in equity, and consolidated statement of
untuk tahun yang berakhir pada tanggal tersebut, cash flows for the year then ended, and notes to
serta catatan atas laporan keuangan the consolidated financial statements, including
konsolidasian, termasuk informasi kebijakan material accounting policy information.
akuntansi material.
Menurut opini kami, laporan keuangan In our opinion, the accompanying consolidated
konsolidasian terlampir menyajikan secara wajar, financial statements present fairly, in all material
dalam semua hal yang material, posisi keuangan respects, the consolidated financial position of the
konsolidasian Grup tanggal 31 Desember 2025, Group as of December 31, 2025, and its
serta kinerja keuangan dan arus kas consolidated financial performance and cash flows
konsolidasiannya untuk tahun yang berakhir pada for the year then ended, in accordance with
tanggal tersebut, sesuai dengan Standar Indonesian Financial Accounting Standards.
Akuntansi Keuangan di Indonesia.
KAP Purwanto Susanti dan Surja
Registered Public Accountants KMK No. 69/ MK/ SK/ 2025
i
A member firm of Ernst & Young Global Limited
Page 140
2025 Management Business Company Corporate Sustainability
138 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Basis opini Basis for opinion
Kami melaksanakan audit kami berdasarkan We conducted our audit in accordance with
Standar Audit yang ditetapkan oleh Institut Standards on Auditing established by the
Akuntan Publik Indonesia (“ IAPI” ). Tanggung Indonesian Institute of Certified Public Accountants
jawab kami menurut standar tersebut (“ IICPA” ). Our responsibilities under those
diuraikan lebih lanjut dalam paragraf Tanggung standards are further described in the Auditor’s
Jawab Auditor terhadap Audit atas Laporan Responsibilit ies for the Audit of the Consolidated
Keuangan Konsolidasian pada laporan kami. Financial St atements paragraph of our report.
Kami independen terhadap Grup berdasarkan We are independent of the Group in accordance
ketentuan etika yang relevan dalam audit kami with the ethical requirements relevant to our
atas laporan keuangan konsolidasian di Indonesia, audit of the consolidated financial statements
dan kami telah memenuhi tanggung jawab etika in Indonesia, and we have fulfilled our other
lainnya berdasarkan ketentuan tersebut. Kami ethical responsibilities in accordance with such
yakin bahwa bukti audit yang telah kami peroleh requirements. We believe that the audit evidence
adalah cukup dan tepat untuk menyediakan suatu we have obt ained is sufficient and appropriate to
basis bagi opini kami. provide a basis for our opinion.
Hal audit ut ama Key audit mat t ers
Hal audit utama adalah hal-hal yang, menurut Key audit matters are those matters that, in our
pertimbangan profesional kami, merupakan hal professional judgment, were of most significance in
yang paling signifikan dalam audit kami atas our audit of the consolidated financial statements
laporan keuangan konsolidasian periode kini. Hal of t he current period. Such key audit mat t ers were
audit utama tersebut disampaikan dalam konteks addressed in the context of our audit of the
audit kami atas laporan keuangan konsolidasian consolidated financial statements taken as a whole,
secara keseluruhan, dan dalam merumuskan opini and in forming our opinion thereon, and we do not
kami atas laporan keuangan konsolidasian terkait, provide a separate opinion on such key audit
dan kami tidak menyatakan suatu opini terpisah matters. For the key audit matter below, our
atas hal audit utama tersebut. Untuk hal audit description of how our audit addressed such key
utama di bawah ini, penjelasan kami tentang audit matter is provided in such context.
bagaimana audit kami merespons hal tersebut
disampaikan dalam konteks tersebut.
ii
A member firm of Ernst & Young Global Limited
Page 141
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 139
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Kami telah memenuhi tanggung jawab yang We have fulfilled the responsibilities described in
diuraikan dalam paragraf Tanggung Jawab the Auditor’s Responsibilities for the Audit of the
Auditor terhadap Audit atas Laporan Keuangan Consolidated Financial Statements paragraph of
Konsolidasian pada laporan kami, termasuk our report, including in relation to the key audit
sehubungan dengan hal-hal audit utama yang matter communicated below. Accordingly, our
dikomunikasikan di bawah ini. Oleh karena itu, audit included the performance of procedures
audit kami mencakup pelaksanaan prosedur yang designed to respond to our assessment of the risks
didesain untuk merespons penilaian kami atas of material misst atement of the accompanying
risiko kesalahan penyajian material dalam laporan consolidated financial statements. The results of
keuangan konsolidasian terlampir. Hasil prosedur our audit procedures, including the procedures
audit kami, termasuk prosedur yang dilakukan performed to address the key audit matter
untuk merespons hal audit utama di bawah ini, below, provide the basis for our opinion on the
menyediakan basis bagi opini kami atas laporan accompanying consolidated financial statements.
keuangan konsolidasian terlampir.
Evaluasi Penurunan Nilai Investasi pada Entitas Evaluation of Impairment of Investment in an
Asosiasi Associate
Penjelasan atas hal audit utama: Description of the key audit matter:
Sebagaimana diungkapkan dalam Catatan 15 atas As disclosed in Note 15 to the accompanying
laporan keuangan konsolidasian terlampir, Grup consolidated financial statements, the Group has
memiliki investasi pada entitas asosiasi, investment in an associate, PT Medco Geopower
PT Medco Geopower Sarulla, dengan nilai tercatat Sarulla, with a carrying value of Rp2.48 trillion as
sebesar Rp2,48 triliun pada tanggal 31 Desember of December 31, 2025. The evaluat ion of
2025. Evaluasi atas penurunan nilai investasi impairment of invest ment in such associate is a key
pada entitas asosiasi tersebut merupakan hal audit matter for us because such evaluation
audit utama bagi kami karena evaluasi tersebut requires the exercise of significant management
memerlukan pertimbangan dan estimasi judgment and estimates in determining the
manajemen yang signifikan dalam menentukan recoverable amount which includes the use of
jumlah terpulihkan yang mencakup penggunaan assumptions that are subject to high level of
asumsi yang bergant ung pada tingkat estimation uncertainty, particularly on electricity
ketidakpastian estimasi yang tinggi, khususnya tariff, operating costs and discount rate.
tarif listrik, biaya operasi dan tingkat diskonto.
iii
A member firm of Ernst & Young Global Limited
Page 142
2025 Management Business Company Corporate Sustainability
140 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Evaluasi Penurunan Nilai Investasi pada Entitas Evaluation of Impairment on Investment in an
Asosiasi (lanjutan) Associate (continued)
Respons audit: Audit response:
Kami memeroleh dan melakukan penilaian We obtained and assessed the impairment
indikator penurunan nilai yang dilakukan oleh indicators assessment performed by the
manajemen. Kami mengevaluasi asumsi utama management. We evaluated key assumptions used
yang digunakan oleh manajemen dalam by the management in the determination of
penentuan jumlah terpulihkan. Asumsi utama recoverable amount. The key assumptions include
termasuk tarif listrik, biaya operasi dan tingkat electricity tariff, operating costs and discount rate.
diskonto. Kami membandingkan tarif listrik We compared the electricity tariff against the
dengan tarif yang tercant um dalam perjanjian jual tariff stated in the power purchase agreement.
beli listrik. Kami membandingkan asumsi biaya We compared operating costs assumptions against
operasi dengan kinerja aktual historis dengan the historical actual performance taking into
mempertimbangkan proyeksi inflasi. Kami account the projected inflation. We involved our
melibatkan pakar spesialis auditor kami untuk auditor’s expert to test the assumptions used in the
menguji asumsi yang digunakan dalam penentuan determination of the discount rate against market
tingkat diskonto terhadap data pasar. Kami juga data. We also assessed the appropriateness and
menilai ketepatan dan kecukupan pengungkapan adequacy of the disclosures in Note 15 to the
dalam Catatan 15 atas laporan keuangan consolidated financial statements.
konsolidasian.
Informasi lain Ot her informat ion
Manajemen bertanggung jawab atas informasi Management is responsible for t he ot her
lain. Informasi lain terdiri dari informasi yang information. Other information comprises the
tercantum dalam Laporan Tahunan 2025 information included in the 2025 Annual
(“ Laporan Tahunan” ) selain laporan keuangan Report (“ The Annual Report” ) other than the
konsolidasian terlampir dan laporan auditor accompanying consolidated financial statements
independen kami. Laporan Tahunan diharapkan and our independent auditor’s report thereon. The
akan tersedia bagi kami setelah tanggal laporan Annual Report is expected to be made available to
auditor independen ini. us after the date of this independent auditor’s
report.
Opini kami atas laporan keuangan konsolidasian Our opinion on the accompanying consolidated
terlampir tidak mencakup Laporan Tahunan, dan financial statements does not cover the Annual
oleh karena itu, kami tidak menyatakan bentuk Report, and accordingly, we do not express any
keyakinan apapun atas Laporan Tahunan form of assurance on the Annual Report.
tersebut.
iv
A member firm of Ernst & Young Global Limited
Page 143
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 141
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Informasi lain (lanjut an) Ot her informat ion (cont inued)
Sehubungan dengan audit kami atas laporan In connection with our audit of the accompanying
keuangan konsolidasian terlampir, tanggung consolidated financial statements, our
jawab kami adalah untuk membaca responsibilit y is to read the Annual Report when it
Laporan Tahunan ketika tersedia dan, becomes available and, in doing so, consider
dalam melaksanakannya, mempertimbangkan whether the Annual Report is materially
apakah Laporan Tahunan mengandung inconsistent with the accompanying consolidated
ketidakkonsistensian material dengan laporan financial statements or our knowledge obtained in
keuangan konsolidasian terlampir atau the audit, or otherwise appears to be materially
pemahaman yang kami peroleh selama audit, misstated.
atau mengandung kesalahan penyajian material.
Ketika kami membaca Laporan Tahunan, jika When we read the Annual Report, if we conclude
kami menyimpulkan bahwa terdapat suatu that there is a material misstatement therein, we
kesalahan penyajian material di dalamnya, kami are required to communicate the matter to those
diharuskan untuk mengomunikasikan hal charged with governance and take appropriate
tersebut kepada pihak yang bertanggung jawab actions based on the applicable laws and
atas tata kelola dan melakukan tindakan yang regulations.
tepat berdasarkan peraturan perundang-
undangan yang berlaku.
Tanggung jawab manajemen dan pihak yang Responsibilit ies of management and t hose
bert anggung jawab at as t at a kelola t erhadap charged wit h governance for t he consolidat ed
laporan keuangan konsolidasian financial st at ement s
Manajemen bertanggung jawab atas penyusunan Management is responsible for the preparation and
dan penyajian wajar laporan keuangan fair presentation of the consolidated financial
konsolidasian tersebut sesuai dengan Standar statements in accordance with Indonesian Financial
Akuntansi Keuangan di Indonesia, dan atas Accounting Standards, and for such internal
pengendalian internal yang dianggap perlu oleh cont rol as management det ermines is necessary
manajemen untuk memungkinkan penyusunan to enable the preparation of consolidated
laporan keuangan konsolidasian yang bebas dari financial statement s that are free from material
kesalahan penyajian material, baik yang misstatement, whether due to fraud or error.
disebabkan oleh kecurangan maupun kesalahan.
v
A member firm of Ernst & Young Global Limited
Page 144
2025 Management Business Company Corporate Sustainability
142 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Tanggung jawab manajemen dan pihak yang Responsibilit ies of management and t hose
bert anggung jawab at as t at a kelola t erhadap charged wit h governance for t he consolidat ed
laporan keuangan konsolidasian (lanjut an) financial st at ement s (cont inued)
Dalam penyusunan laporan keuangan In preparing the consolidated financial statements,
konsolidasian, manajemen bertanggung jawab management is responsible for assessing the
untuk menilai kemampuan Grup dalam Group’s ability to continue as a going concern,
mempertahankan kelangsungan usahanya, disclosing, as applicable, matters related to going
mengungkapkan, sesuai dengan kondisinya, hal- concern, and using the going concern basis of
hal yang berkaitan dengan kelangsungan usaha, accounting, unless management either intends to
dan menggunakan basis akuntansi kelangsungan liquidate the Group or to cease its operations, or
usaha, kecuali manajemen memiliki intensi untuk has no realistic alternative but to do so.
melikuidasi Grup atau menghentikan operasi, atau
tidak memiliki alternatif yang realistis selain
melaksanakannya.
Pihak yang bertanggung jawab atas tata kelola Those charged with governance are responsible for
bertanggung jawab untuk mengawasi proses overseeing the Group’s financial reporting process.
pelaporan keuangan Grup.
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian consolidat ed financial st at ement s
Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obt ain reasonable assurance
memadai tentang apakah laporan keuangan about whether the consolidated financial
konsolidasian secara keseluruhan bebas dari statements taken as a whole are free from material
kesalahan penyajian material, baik yang misstatement, whether due to fraud or error, and
disebabkan oleh kecurangan maupun kesalahan, to issue an independent auditor’s report that
dan untuk menerbitkan laporan auditor includes our opinion. Reasonable assurance is
independen yang mencakup opini kami. Keyakinan a high level of assurance, but is not a guarantee
memadai merupakan suatu tingkat keyakinan that an audit conducted in accordance with
tinggi, namun bukan merupakan suatu jaminan Standards on Auditing established by the IICPA will
bahwa audit yang dilaksanakan berdasarkan always detect a material misstatement when it
Standar Audit yang ditet apkan oleh IAPI akan exists. Misstatement s can arise from fraud or error
selalu mendeteksi kesalahan penyajian material and are considered material if, individually or in the
ketika hal tersebut ada. Kesalahan penyajian aggregate, they could reasonably be expected to
dapat disebabkan oleh kecurangan maupun influence the economic decisions of users taken
kesalahan dan dianggap material jika, baik secara on the basis of these consolidated financial
individual maupun agregat, dapat diekspektasikan statements.
secara wajar akan memengaruhi keputusan
ekonomi yang diambil oleh pengguna berdasarkan
laporan keuangan konsolidasian tersebut.
vi
A member firm of Ernst & Young Global Limited
Page 145
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 143
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga:
Mengidentifikasi dan menilai risiko kesalahan Ident ify and assess the risks of material
penyajian material dalam laporan keuangan misstatement of the consolidated financial
konsolidasian, baik yang disebabkan oleh statements, whether due to fraud or error,
kecurangan maupun kesalahan, mendesain design and perform audit procedures
dan melaksanakan prosedur audit yang responsive to such risks, and obtain audit
responsif terhadap risiko tersebut, serta evidence that is sufficient and appropriate to
memeroleh bukti audit yang cukup dan tepat provide a basis for our opinion. The risk of not
untuk menyediakan basis bagi opini kami. detecting a material misstatement resulting
Risiko tidak terdeteksinya suatu kesalahan from fraud is higher than for one resulting from
penyajian material yang disebabkan oleh error, as fraud may involve collusion, forgery,
kecurangan lebih tinggi dari yang disebabkan intentional omissions, misrepresentations, or
oleh kesalahan, karena kecurangan dapat override of internal control.
melibatkan kolusi, pemalsuan, penghilangan
secara sengaja, pernyataan salah, atau
pengabaian atas pengendalian internal.
Memeroleh suatu pemahaman tentang Obtain an understanding of internal control
pengendalian internal yang relevan dengan relevant to the audit in order to design audit
audit untuk mendesain prosedur audit yang procedures that are appropriate in the
tepat sesuai dengan kondisinya, tetapi bukan circumstances, but not for the purpose of
untuk tujuan menyatakan opini atas expressing an opinion on t he effect iveness of
keefektivitasan pengendalian internal Grup. the Group’s internal control.
Mengevaluasi ketepatan kebijakan akuntansi Evaluate the appropriateness of accounting
yang digunakan serta kewajaran estimasi policies used and the reasonableness of
akuntansi dan pengungkapan terkait yang accounting estimates and related disclosures
dibuat oleh manajemen. made by management.
vii
A member firm of Ernst & Young Global Limited
Page 146
2025 Management Business Company Corporate Sustainability
144 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)
Menyimpulkan ketepatan penggunaan basis Conclude on the appropriateness of
akuntansi kelangsungan usaha oleh management's use of the going concern basis
manajemen dan, berdasarkan bukti audit yang of accounting and, based on the audit evidence
diperoleh, apakah terdapat suatu obtained, whether a material uncertainty exists
ketidakpastian material yang terkait dengan related to events or conditions that may cast
peristiwa atau kondisi yang dapat significant doubt on the Group's ability to
menyebabkan keraguan signifikan atas continue as a going concern. If we conclude
kemampuan Grup untuk mempertahankan that a material uncertainty exists, we are
kelangsungan usahanya. Ketika kami required to draw attention in our independent
menyimpulkan bahwa terdapat suatu auditor’s report to the related disclosures in
ketidakpastian material, kami diharuskan the consolidated financial statements or, if
untuk menarik perhatian dalam laporan such disclosures are inadequate, to modify our
auditor independen kami ke pengungkapan opinion. Our conclusion is based on the audit
terkait dalam laporan keuangan konsolidasian evidence obtained up to the date of our
atau, jika pengungkapan tersebut tidak independent auditor’s report. However, future
memadai, memodifikasi opini kami. events or conditions may cause the Group to
Kesimpulan kami didasarkan pada bukti audit cease to continue as a going concern.
yang diperoleh hingga tanggal laporan auditor
independen kami. Namun, peristiwa atau
kondisi masa depan dapat menyebabkan Grup
tidak dapat mempertahankan kelangsungan
usaha.
Mengevaluasi penyajian, struktur, dan isi Evaluate the overall presentation, structure,
laporan keuangan konsolidasian secara and content of the consolidated financial
keseluruhan, termasuk pengungkapannya, statements, including the disclosures, and
dan apakah laporan keuangan konsolidasian whether the consolidated financial statements
mencerminkan transaksi dan peristiwa yang represent the underlying transactions and
mendasarinya dengan suatu cara yang events in a manner that achieves fair
mencapai penyajian wajar. present ation.
viii
A member firm of Ernst & Young Global Limited
Page 147
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 145
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)
Memeroleh bukti audit yang cukup dan tepat Obtain sufficient appropriate audit evidence
terkait informasi keuangan entitas atau regarding the financial information of the
aktivitas bisnis dalam Grup untuk menyatakan entities or business activities within the Group
opini atas laporan keuangan konsolidasian. to express an opinion on the consolidated
Kami bertanggung jawab atas arahan, financial statements. We are responsible for
supervisi, dan pelaksanaan audit grup. Kami the direction, supervision, and performance of
tetap bertanggung jawab sepenuhnya atas the group audit. We remain solely responsible
opini audit kami. for our audit opinion.
Kami mengomunikasikan kepada pihak yang We communicate with those charged with
bertanggung jawab atas tata kelola mengenai, governance regarding, among other matters, the
antara lain, ruang lingkup dan saat yang planned scope and timing of the audit and
direncanakan atas audit serta temuan audit significant audit findings, including any significant
signifikan, termasuk setiap defisiensi signifikan deficiencies in internal control that we identify
dalam pengendalian internal yang teridentifikasi during our audit.
oleh kami selama audit.
Kami juga memberikan suatu pernyataan kepada We also provide those charged with governance
pihak yang bertanggung jawab atas tata with a statement that we have complied
kelola bahwa kami telah mematuhi ketentuan with relevant ethical requirements regarding
etika yang relevan mengenai independensi, dan independence, and to communicate with them
mengomunikasikan kepada pihak tersebut seluruh all relationships and other matters that
hubungan, serta hal-hal lain yang dianggap secara may reasonably be thought to bear on our
wajar berpengaruh terhadap independensi kami, independence, and where applicable, related
dan, jika relevan, pengamanan terkait. safeguards.
ix
A member firm of Ernst & Young Global Limited
Page 148
2025 Management Business Company Corporate Sustainability
146 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
Dari hal-hal yang dikomunikasikan kepada pihak From the matters communicated with those
yang bertanggung jawab atas tata kelola, kami charged with governance, we determine those
menentukan hal-hal tersebut yang paling matters that were of most significance in the audit
signifikan dalam audit atas laporan keuangan of the consolidated financial statement s of the
konsolidasian periode kini dan oleh karenanya current period and are therefore the key audit
menjadi hal audit utama. Kami menguraikan hal matters. We describe such key audit matters in our
audit utama tersebut dalam laporan auditor independent auditor’s report unless laws or
independen kami kecuali peraturan perundang- regulations preclude public disclosure about such
undangan melarang pengungkapan publik tentang key audit matters or when, in extremely rare
hal audit utama tersebut atau ketika, dalam circumstances, we determine that a key audit
kondisi yang sangat jarang terjadi, kami matter should not be communicated in our
menentukan bahwa suatu hal audit utama tidak independent auditor’s report because the adverse
boleh dikomunikasikan dalam laporan auditor consequences of doing so would reasonably be
independen kami karena konsekuensi yang expected to outweigh the public interest benefits of
merugikan dari mengomunikasikan hal tersebut such communication.
akan diekspektasikan secara wajar melebihi
manfaat kepentingan publik atas komunikasi
tersebut.
KAP Purwant o Susant i dan Surja
Indrajuwana Komala Widjaja
Registrasi Akuntan Publik No. AP.0696/ Public Accountant Registration No. AP. 0696
1 April 2026/ April 1, 2026
x
A member firm of Ernst & Young Global Limited
Page 149
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 147
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL
Tanggal 31 Desember 2025 POSITION
(Disajikan dalam Rupiah, As of December 31, 2025
Kecuali Dinyatakan Lain) (Expressed in Rupiah,
Unless Otherwise Stated)
Catatan/
2025 Notes 2024
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan setara kas 2.355.595.385.816 2,4 1.692.790.572.715 Cash and cash equivalents
Piutang usaha 2 Trade receivables
Pihak ketiga 459.450.104.486 6 467.911.859.194 Third parties
Pihak berelasi 21.029.512.028 8b 30.124.429.334 Related parties
Aset kontrak 107.919.800.770 6 65.572.044.236 Contract asset
Piutang sewa pembiayaan 204.813.430.812 2,11 223.035.633.301 Finance lease receivables
Piutang lain-lain 2 Other receivables
Pihak ketiga - neto 55.010.481.297 7 48.589.301.644 Third parties - net
Pihak berelasi 80.517.341.154 8c 138.320.167.518 Related parties
Persediaan 104.435.643.691 2,9 99.816.908.288 Inventories
Rekening bank dan deposito
berjangka yang dibatasi Restricted cash in banks and time
penggunaannya 43.070.801.926 2,5 37.179.190.359 deposit
Pajak dibayar di muka 25.083.261.161 2,10 5.803.515.464 Prepaid taxes
Beban dibayar di muka dan uang
muka 55.057.217.181 2,12 241.033.084.893 Prepaid expenses and advances
Estimasi pengembalian pajak 32.069.746.547 2,23f 28.711.358.216 Estimated claim for tax refund
Aset derivatif 22.915.639.251 2,27 30.282.826.190 Derivative assets
Aset keuangan konsesi 572.673.098.050 2,13 539.544.723.798 Concession financial assets
Aset lancar lainnya 8.906.921.299 20 19.433.654.598 Other current assets
TOTAL ASET LANCAR 4.148.548.385.469 3.668.149.269.748 TOTAL CURRENT ASSETS
ASET TIDAK LANCAR NON-CURRENT ASSETS
Aset keuangan konsesi - Concession financial assets - net
neto porsi jangka pendek 9.317.867.477.124 2,13 8.846.237.824.779 of current portion
Piutang sewa pembiayaan - Finance lease receivables - net of
neto porsi jangka pendek 2.627.559.524.359 2,11 1.153.322.351.850 current portion
Piutang lain-lain - pihak ketiga - Other receivables - third parties -
neto porsi jangka pendek 224.999.483.708 2,7 121.470.076.800 net of current portion
Piutang lain-lain - pihak berelasi - Other receivables - related parties
neto porsi jangka pendek 6.136.600.000 2,8c 6.143.895.000 - net of current portion
Estimasi pengembalian pajak - Estimated claim for tax refunds -
neto porsi jangka pendek 32.844.909.870 2,23f 66.383.302.418 net of current portion
Property, plant and equipment -
Aset tetap - neto 410.909.062.690 2,18 1.457.525.436.994 net
Aset pajak tangguhan - neto 37.817.748.092 2,23d 63.576.309.505 Deferred tax assets - net
Investasi jangka panjang 2.610.830.041.427 15 2.522.867.184.126 Long-term investments
Advances for purchase of property,
Uang muka pembelian aset tetap 281.106.367.450 19 54.524.728.569 plant and equipment
Aset hak guna 55.748.358.858 14 20.955.000.727 Right-of-use assets
Aset eksplorasi dan evaluasi 204.697.878.223 2,16 29.235.675.350 Exploration and evaluation assets
Aset takberwujud - neto 16.130.344.500 2,17 17.972.343.289 Intangible assets - net
Aset derivatif - neto porsi jangka Derivative assets - net of current
pendek 290.373.396.025 2,27 361.529.964.880 maturities
Aset tidak lancar lainnya 79.922.966.701 20 21.738.477.827 Other non-current assets
TOTAL ASET TIDAK LANCAR 16.196.944.159.027 14.743.482.572.114 TOTAL NON-CURRENT ASSETS
TOTAL ASET 20.345.492.544.496 18.411.631.841.862 TOTAL ASSETS
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
1
Page 150
2025 Management Business Company Corporate Sustainability
148 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein
are in the Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL
(lanjutan) POSITION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Rupiah, (Expressed in Rupiah,
Kecuali Dinyatakan Lain) Unless Otherwise Stated)
Catatan/
2025 Notes 2024
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Utang bank jangka pendek 50.000.000.000 2,25 883.929.780.230 Short-term bank loan
Utang usaha 138.916.864.935 2,21 260.863.402.238 Trade payables
Utang lain-lain 1.249.496.051.662 2,22 950.929.698.815 Other payables
Liabilitas kontrak 16.792.588.559 2,22 8.396.294.285 Contract liability
Beban akrual 747.917.722.754 2,24 418.497.181.717 Accrued expenses
Utang pajak 33.689.314.596 2,23a 44.280.351.507 Taxes payable
Porsi jangka pendek atas: Current maturities of:
Liabilitas sewa 14.273.387.072 2,29 5.994.120.857 Lease liabilities
Pinjaman jangka panjang 609.253.782.578 2,25 340.930.502.489 Long-term debt
Pinjaman jangka panjang lainnya 10.300.000.000 26 1.050.690.000.000 Other long-term debt
TOTAL LIABILITAS JANGKA
PENDEK 2.870.639.712.156 3.964.511.332.138 TOTAL CURRENT LIABILITIES
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
Utang lain-lain - neto porsi jangka Other payables - net of current
pendek 69.292.188.853 2,22 60.020.869.805 portion
Liabilitas kontrak - neto porsi Contract liability - net of current
jangka pendek 49.851.116.451 2,22 31.252.873.177 portion
Beban akrual - neto porsi jangka Accrued expenses - net of current
pendek 249.419.441.840 2,24 85.958.175.600 portion
Utang kepada pihak berelasi 28.454.147.029 2,8d 18.401.581.396 Due to related parties
Liabilitas sewa - neto porsi jangka Lease liabilities - net of current
pendek 45.204.529.262 2,29 16.465.366.672 portion
Pinjaman jangka panjang - neto Long-term debt - net of current
porsi jangka pendek 6.415.207.905.800 2,25 5.602.345.504.172 portion
Pinjaman jangka panjang lainnya 2.731.975.104.622 26 1.100.892.401.635 Other long-term debt
Liabilitas pajak tangguhan - neto 743.774.494.510 2,23d 733.821.495.685 Deferred tax liabilities - net
Estimated liability for employee
Liabilitas imbalan kerja 177.570.099.540 2,28c 153.046.036.979 service entitlements
TOTAL LIABILITAS JANGKA TOTAL NON-CURRENT
PANJANG 10.510.749.027.907 7.802.204.305.121 LIABILITIES
TOTAL LIABILITAS 13.381.388.740.063 11.766.715.637.259 TOTAL LIABILITIES
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
2
Page 151
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 149
The original consolidated financial statements included herein
are in the Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL
(lanjutan) POSITION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Rupiah, (Expressed in Rupiah,
Kecuali Dinyatakan Lain) Unless Otherwise Stated)
Catatan/
2025 Notes 2024
EKUITAS EQUITY
Modal saham - nilai nominal Capital stock - Rp 1,000 par value
Rp1.000 per saham per share
- Modal dasar Authorized -
2.000.000.000 saham 2,000,000,000 shares
- Modal ditempatkan dan disetor
penuh Subscribed and fully paid -
1.100.000.000 saham 1.100.000.000.000 31 1.100.000.000.000 1,100,000,000 shares
Tambahan modal disetor 463.406.258.255 31 463.406.258.255 Additional paid-in capital
Selisih kurs penjabaran mata uang Difference in foreign currency
asing 330.562.222.070 2 226.489.045.520 translation
Selisih nilai transaksi dengan Difference value in transactions
kepentingan non-pengendali 846.017.059.411 31 846.017.059.411 with non-controlling interest
Penyesuaian nilai wajar atas Fair value adjustment on cash flow
instrumen lindung nilai arus kas 124.626.378.243 2 196.300.044.362 hedging instruments
Bagian laba komprehensif lain dari Share of other comprehensive
entitas ventura bersama 400.633.801.840 2,15 373.518.365.434 income of joint venture
Saldo laba Retained earnings
Ditentukan penggunaannya 220.000.000.000 31 220.000.000.000 Appropriated -
Tidak ditentukan penggunaannya 291.596.388.463 278.032.670.382 Unappropriated -
Jumlah ekuitas yang dapat Total equity attributable to the
diatribusikan kepada pemilik equity holders of the parent
entitas induk 3.776.842.108.282 3.703.763.443.364 company
Kepentingan nonpengendali 3.187.261.696.151 30a 2.941.152.761.239 Non-controlling interests
TOTAL EKUITAS 6.964.103.804.433 6.644.916.204.603 TOTAL EQUITY
TOTAL LIABILITAS DAN TOTAL LIABILITIES AND
EKUITAS 20.345.492.544.496 18.411.631.841.862 EQUITY
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
3
Page 152
2025 Management Business Company Corporate Sustainability
150 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Catatan/
2025 Notes 2024
PENDAPATAN USAHA 2.931.985.516.898 2,32 3.271.301.776.624 REVENUES
BEBAN POKOK PENDAPATAN (1.442.458.094.130) 2,33 (2.077.507.364.376) COST OF REVENUES
LABA BRUTO 1.489.527.422.768 1.193.794.412.248 GROSS PROFIT
Beban operasional (683.505.878.335) 2,34 (610.163.647.504) Operating expenses
Bagian laba dari ventura bersama Share in net profit of joint venture
dan asosiasi 60.847.420.895 15 43.602.207.842 and associate
Pendapatan lain-lain 211.099.042.575 2,35 123.803.784.209 Other income
Beban lain-lain (24.931.126.573) 2,36 (171.909.650.107) Other expenses
LABA DARI OPERASI 1.053.036.881.330 579.127.106.688 PROFIT FROM OPERATIONS
Pendapatan bunga 135.189.914.650 75.307.860.551 Interest income
Pajak atas pendapatan bunga (21.294.887.133) (15.061.572.110) Tax on interest income
Beban pendanaan (792.382.082.023) 37 (686.855.446.547) Finance costs
LABA (RUGI) SEBELUM BEBAN PROFIT (LOSS) BEFORE
PAJAK PENGHASILAN 374.549.826.824 (47.482.051.418) INCOME TAX EXPENSES
BEBAN PAJAK PENGHASILAN
(131.409.569.665) 2,23b (60.906.972.848) INCOME TAX EXPENSE
LABA (RUGI) TAHUN
BERJALAN 243.140.257.159 (108.389.024.266) PROFIT (LOSS) FOR THE YEAR
PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVE
LAIN INCOME
POS YANG TIDAK AKAN
DIREKLASIFIKASI KE LABA ITEMS THAT WILL NOT BE
RUGI DI TAHUN BERIKUTNYA RECLASSIFIED TO PROFIT OR
LOSS IN SUBSEQUENT YEARS
Pengukuran kembali program Remeasurement of defined benefit
imbalan kerja - neto pajak (3.923.774.112) 2.742.580.231 plans - net of tax
Penyesuaian nilai wajar pada aset Fair value adjustment on financial
keuangan (9.722.157.687) 15 (3.912.463.788) assets
POS YANG AKAN
DIREKLASIFIKASI KE LABA ITEMS THAT WILL BE
RUGI DI TAHUN BERIKUTNYA RECLASSIFIED TO PROFIT OR
LOSS IN SUBSEQUENT YEARS
Selisih kurs penjabaran mata uang Difference in foreign currency
asing 140.656.182.569 81.786.717.587 translation
Penyesuaian nilai wajar atas
instrumen lindung nilai arus kas - Fair value adjustment on cash flow
neto pajak (61.248.529.492) 122.343.791.516 hedging instrument - net of tax
Bagian laba komprehensif lain dari Share of other comprehensive
entitas ventura bersama 36.837.594.093 15 90.272.977.667 income of joint venture
TOTAL PENGHASILAN TOTAL OTHER
KOMPREHENSIF LAIN TAHUN COMPREHENSIVE INCOME FOR
BERJALAN - NETO PAJAK THE YEAR - NET OF INCOME
PENGHASILAN 102.599.315.371 293.233.603.213 TAX
TOTAL PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 345.739.572.530 184.844.578.947 INCOME FOR THE YEAR
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
4
Page 153
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 151
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) AND OTHER COMPREHENSIVE INCOME (continued)
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Catatan/
2025 Notes 2024
LABA (RUGI) TAHUN
BERJALAN YANG DAPAT PROFIT (LOSS) FOR THE YEAR
DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
Laba (rugi) tahun berjalan yang Profit (loss) for the year attributable
diatribusikan kepada pemilik to equity holders of the parent
entitas induk 17.191.338.200 (262.932.690.349) company
Laba tahun berjalan yang
diatribusikan kepada Profit for the year attributable to
kepentingan non-pengendali 225.948.918.959 2,30b 154.543.666.083 non-controlling interests
243.140.257.159 (108.389.024.266)
TOTAL PENGHASILAN (RUGI)
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN YANG DAPAT INCOME (LOSS) FOR THE YEAR
DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
Laba (rugi) komprehensif tahun Comprehensive income (loss) for
berjalan yang diatribusikan the year attributable to equity
kepada pemilik entitas induk 73.078.664.918 (79.943.959.290) holders of the parent company
Laba komprehensif tahun berjalan Comprehensive income for the
yang diatribusikan kepada year attributable to non-
kepentingan non-pengendali 272.660.907.612 264.788.538.237 controlling interests
345.739.572.530 184.844.578.947
LABA (RUGI) PER SAHAM BASIC EARNINGS (LOSS) PER
YANG DAPAT DIATRIBUSIKAN SHARES ATTRIBUTABLE TO
KEPADA PEMILIK ENTITAS EQUITY HOLDERS OF THE
INDUK 15,63 (239,03) PARENT COMPANY
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
5
Page 154
2025 Management Business Company Corporate Sustainability
152 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN
Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2025
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
Diatribusikan kepada pemilik entitas induk/Attributable to the eq
Penyesuaian nilai
wajar atas
instrumen
lindung nilai arus
kas (Catatan 27)/
Fair value
Tambahan modal Saldo laba Saldo laba tidak adjustment on pe
Modal saham disetor (Catatan ditentukan ditentukan cash flow
(Catatan 31)/ 31)/ Additional penggunaannya/ penggunaannya/ hedging
Catatan/ Capital stock paid-in capital Appropriated Unappropriated instrument fo
Notes (Note 31) (Note 31) retained earnings retained earnings (Note 27)
Saldo tanggal 31 Desember 2023 1.100.000.000.000 463.406.258.255 220.000.000.000 538.847.501.970 133.904.710.688 1
Laba (rugi) tahun berjalan - - - (262.932.690.349) -
Penghasilan (kerugian)
komprehensif lain - - - 2.117.858.761 62.395.333.674
Total penghasilan (kerugian)
komprehensif tahun berjalan - - - (260.814.831.588) 62.395.333.674
Pembagian dividen untuk
kepentingan non-pengendali 30 - - - - -
Saldo per 31 Desember 2024 1.100.000.000.000 463.406.258.255 220.000.000.000 278.032.670.382 196.300.044.362 2
Laba tahun berjalan - - - 17.191.338.200 -
Penghasilan (kerugian)
komprehensif lain - - - (3.627.620.119) (71.673.666.119) 1
Total penghasilan (kerugian)
komprehensif tahun berjalan - - - 13.563.718.081 (71.673.666.119) 1
Pembagian dividen untuk
kepentingan non-pengendali 30 - - - - -
Setoran modal dari kepentingan
non-pengendali
Saldo per 31 Desember 2025 1.100.000.000.000 463.406.258.255 220.000.000.000 291.596.388.463 124.626.378.243 3
Catatan atas laporan keuangan konsolidasian terlampir merupakan
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara
keseluruhan.
6
Page 155
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 153
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA
AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the Year Ended December 31, 2025
(Expressed in Rupiah, Unless Otherwise Stated)
quity holders of the parent company
Total ekuitas
Bagian laba yang dapat
komprehensif lain Selisih transaksi diatribusikan
Selisih kurs dari entitas dengan pihak kepada pemilik
karena ventura bersama non-pengendali entitas induk/
enjabaran mata (Catatan 15)/ (Catatan 31)/ Total equity Kepentingan non-
uang asing/ Share of other Difference in attributable to the pengendali
Difference in comprehensive transactions with equity holders of (Catatan 30)/ Non-
oreign currency income of joint non-controlling the parent controlling Total ekuitas/
translation venture (Note 15) interest (Note 31) company Interests (Note 30) Total equity
194.374.020.775 287.157.851.555 846.017.059.411 3.783.707.402.654 2.769.189.952.530 6.552.897.355.184 Balance, December 31, 2023
- - - (262.932.690.349) 154.543.666.083 (108.389.024.266) Profit (loss) for the year
32.115.024.745 86.360.513.879 - 182.988.731.059 110.244.872.154 293.233.603.213 Other comprehensive income (loss)
Total comprehensive income (loss)
32.115.024.745 86.360.513.879 - (79.943.959.290) 264.788.538.237 184.844.578.947 for the year
Dividend distribution to non-
- - - - (92.825.729.528) (92.825.729.528) controlling interest
226.489.045.520 373.518.365.434 846.017.059.411 3.703.763.443.364 2.941.152.761.239 6.644.916.204.603 Balance, December 31, 2024
- - - 17.191.338.200 225.948.918.959 243.140.257.159 Profit for the year
104.073.176.550 27.115.436.406 - 55.887.326.718 46.711.988.653 102.599.315.371 Other comprehensive income (loss)
Total comprehensive income (loss)
104.073.176.550 27.115.436.406 - 73.078.664.918 272.660.907.612 345.739.572.530 for the year
Dividend distribution to non-
- - - - (112.158.972.700) (112.158.972.700) controlling interest
Capital contribution from non-
85.607.000.000 85.607.000.000 controlling interest
330.562.222.070 400.633.801.840 846.017.059.411 3.776.842.108.282 3.187.261.696.151 6.964.103.804.433 Balance, December 31, 2025
The accompanying notes to the consolidated financial statements form
an integral part of these consolidated financial statements taken as a
whole.
Page 156
2025 Management Business Company Corporate Sustainability
154 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CASH FLOWS
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Catatan/
2025 Notes 2024
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
OPERASI OPERATING ACTIVITIES
Penerimaan kas dari pelanggan 2.530.250.410.498 1.974.845.182.184 Cash receipts from customers
Pembayaran kas kepada pemasok (657.996.439.615) (348.121.887.693) Cash paid to suppliers
Pembayaran kas kepada karyawan (355.578.918.477) (407.171.808.321) Cash paid to employees
Pembayaran kas untuk biaya
operasional (399.812.250.228) (455.622.880.345) Cash paid for operating expenses
Kas yang dihasilkan dari kegiatan
usaha 1.116.862.802.178 763.928.605.825 Cash generated from operations
Pembayaran pajak penghasilan (119.674.850.635) (56.006.643.624) Income tax paid
Kas neto diperoleh dari aktivitas Net cash provided by by
operasi 997.187.951.543 707.921.962.201 operating activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING
INVESTASI ACTIVITIES
Addition to concession financial
Penambahan atas aset konsesi (58.172.772.910) (157.138.957.364) assets
Acquisitions of property, plant and
Penambahan aset tetap (380.057.375.552) 18 (404.267.928.306) equipments
Penambahan aset takberwujud (2.734.483.473) (7.867.386.164) Acquisitions of intangible assets
Penerimaan (penambahan) uang Collection (acquisition) of
muka 211.980.800.000 (771.075.454) advances
Penerimaan (penambahan) Collection (addition) of due to
piutang berelasi 64.802.730.000 (42.470.770.443) related parties
Penerimaan (penambahan) Collection (addition) of other
piutang lain-lain (109.950.586.561) 12.379.448.293 receivables
Penerimaan bunga 135.189.914.650 75.307.860.551 Interest received
Penambahan aset eksplorasi dan Addition to exploration and
evaluasi (175.462.202.873) 16 (25.904.724.075) evaluation assets
Penerimaan dari penjualan aset Sale of property, plant and
tetap 2.621.811.141 18 314.256.360 equipments
Penambahan investasi saham - 15 (40.250.000.000) Addition of investment in shares
Kas neto yang digunakan untuk Net cash used in investing
aktivitas investasi (311.782.165.578) (590.669.276.602) activities
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
7
Page 157
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 155
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN (lanjutan) CONSOLIDATED STATEMENT OF CASH FLOWS
Untuk Tahun yang Berakhir pada Tanggal (continued)
31 Desember 2025 For the Year Ended
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) December 31, 2025
(Expressed in Rupiah, Unless Otherwise Stated)
Catatan/
2025 Notes 2024
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
PENDANAAN FINANCING ACTIVITIES
Hasil yang diperoleh dari pinjaman
jangka panjang 2.420.822.463.674 2.201.956.370.734 Proceeds from long-term debts
Hasil yang diperoleh dari pinjaman Proceeds from other long-term
jangka panjang lainnya 1.650.000.000.000 750.000.004.127 debts
Hasil yang diperoleh dari pinjaman
jangka pendek - 610.986.250.000 Proceeds from short-term debts
Pembayaran beban bunga dan
beban pendanaan (643.459.258.625) (595.520.777.910) Interest and financing charges paid
Pembayaran atas pinjaman jangka
panjang (1.664.702.475.835) (1.818.748.695.405) Payments of long-term debt
Pembayaran atas pinjaman jangka
panjang lainnya (1.050.690.000.000) (7.000.000.000) Payments of other long-term debt
Pembayaran atas pinjaman jangka
pendek (1.006.008.395.808) 25 (1.692.869.773.001) Payments of short-term bank loans
Pencairan (penempatan) deposito Withdrawal (placement) of
dan rekening bank yang dibatasi restricted cash in banks and time
penggunaannya (5.891.611.567) 10.979.115.982 deposits
Pembayaran liabilitas sewa (20.558.129.878) (20.000.129.878) Repayment of lease liabilities
Pembagian dividen untuk Dividend distribution to non-
kepentingan non-pengendali (112.158.972.700) 30 (92.825.729.528) controlling interest
Penerimaan utang lain-lain dari Proceeds from other payables of
kepentingan non-pengendali 287.509.983.600 279.538.058.435 non-controlling interest
Hasil dari penerbitan saham 85.607.000.000 - Proceeds from share issuance
Kas neto yang digunakan untuk Net cash used in financing
aktivitas pendanaan (59.529.397.139) (373.505.306.444) activities
NET INCREASE (DECREASE) IN
KENAIKAN (PENURUNAN) CASH AND CASH
NETO KAS DAN SETARA KAS 625.876.388.826 (256.252.620.845) EQUIVALENTS
PERBEDAAN NILAI TUKAR NET FOREIGN EXCHANGE
NETO 36.928.424.275 (2.319.618.565) DIFFERENCE
CASH AND CASH
KAS DAN SETARA KAS PADA EQUIVALENTS AT BEGINNING
AWAL TAHUN 1.692.790.572.715 1.951.362.812.125 OF YEAR
CASH AND CASH
KAS DAN SETARA KAS PADA EQUIVALENTS AT END OF
AKHIR TAHUN 2.355.595.385.816 4 1.692.790.572.715 YEAR
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
8
Page 158
2025 Management Business Company Corporate Sustainability
156 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM 1. GENERAL
a. Informasi Umum a. General Information
PT Medco Power Indonesia (“Perusahaan”) PT Medco Power Indonesia (the “Company”)
didirikan dengan nama PT Medco Power was established under the name of PT Medco
Karimata berdasarkan Akta Notaris No. 97 Power Karimata based on Notarial Deed No.
oleh Ny. MTH. Suprapti, S.H., pada tanggal 97 dated January 28, 2004 of Ny. MTH.
28 Januari 2004. Akta pendirian telah diubah Suprapti, S.H.The deed of establishment was
berdasarkan Akta Notaris No. 10 oleh Ny. amended on September 3, 2004, based on
Poerbaningsih Adi Warsito, S.H., pada tanggal Notarial Deed No. 10 of Ny. Poerbaningsih Adi
3 September 2004, terkait dengan perubahan Warsito, S.H., concerning the change of its
nama Perusahaan menjadi PT Medco Power name to PT Medco Power Indonesia. The
Indonesia. Akta pendirian dan perubahannya deed of establishment and its amendment
disetujui oleh Menteri Hukum dan Hak Asasi were approved by the Ministry of Law and
Manusia dengan Surat Keputusan C-24274 Human Rights in its decision letter No.
HT.01.01.TH.2004 tanggal 29 September 2004 C-24274 HT.01.01.TH.2004 dated
dan diumumkan dalam Berita Negara Republik September 29, 2004 and was published in
Indonesia No. 895, Tambahan No.7 tanggal 25 State Gazette No. 895, Supplement No.7
Januari 2005. dated January 25, 2005.
Anggaran Dasar Perusahaan beberapa kali The Company’s Articles of Association has
mengalami perubahan, perubahaan terakhir been amended several time, the latest
tersebut diaktakan dengan Akta Notaris No. 11 amendment by Notarial Deed No.11 of Siti
oleh Siti Rumondang Bulan Lubis, S.H., M.Kn., Rumondang Bulan Lubis, S.H., M.Kn. dated
tanggal 15 Mei 2023, terkait perubahan Pasal May 15, 2023 regarding the changes in Article
13, yang telah disetujui oleh Menteri Hukum No. 13 which was approved by the Ministry of
dan Hak Asasi Manusia dalam suratnya No. Law and Human Rights in its letter No. AHU-
AHU-AH.01.03-0063938 tanggal 15 Mei 2023. AH.01.03-0063938 dated May 15, 2023.
Sesuai dengan Pasal 3 Anggaran Dasar As stated in Article 3 of the Company’s Articles
Perusahaan, ruang lingkup aktivitas of Association, the scope of activities of the
Perusahaan terdiri dari, antara lain, Company comprises, among others, acquiring,
mengambil alih, membangun dan developing and operating power plant; selling
mengoperasikan pembangkit listrik; penjualan electricity; operating and maintaining power
tenaga listrik; mengoperasikan dan plant, transmission and electricity distribution
memelihara pembangkit listrik, transmisi dan network; providing engineering procurement
jaringan distribusi; melakukan jasa rekayasa and construction services; providing power
pengadaan dan konstruksi; melakukan jasa support business; providing management
penunjang kelistrikan; melakukan jasa consulting services on electricity business
konsultasi manajemen bisnis bidang area; developing, operating and maintaining
kelistrikan; membangun, mengoperasikan dan gas piping for gas supply.
memelihara pipa gas untuk keperluan
pemasokan gas.
Perusahaan telah melakukan seluruh kegiatan The Company performs all of those activities,
tersebut, kecuali membangun, except for operating and maintaining gas
mengoperasikan dan memelihara pipa gas piping for gas supply.
untuk keperluan pemasok gas.
Perusahaan berdomisili di Jakarta, Indonesia, The Company is domiciled in Jakarta,
dengan kantor beralamat pada The Energy Indonesia, with its office located at The Energy
Building, lantai 8, Jl. Jenderal Sudirman Kav. Building, 8th floor, Jl. Jenderal Sudirman Kav.
52-53 Lot 11A SCBD, Senayan, Kebayoran 52-53 Lot 11A SCBD, Senayan, Kebayoran
Baru, Jakarta Selatan 12190. Baru, Jakarta Selatan 12190.
Perusahaan memulai kegiatan operasi The Company started commercial operations
komersialnya pada tanggal 9 Juni 2005. on June 9, 2005.
9
Page 159
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 157
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
a. Informasi Umum (lanjutan) a. General Information (continued)
Susunan Dewan Komisaris dan Direksi The members of the Company’s Boards of
Perusahaan pada tanggal 31 Desember 2025 Commissioners and Directors as of December
dan 2024 adalah sebagai berikut: 31, 2025 and 2024 are as follows:
2025 2024
Dewan Komisaris: Board of Commissioners:
Komisaris Utama Amri Siahaan Amri Siahaan President Commissioner
Komisaris Independen M. Teguh Pamuji M. Teguh Pamuji Independent Commissioner
Komisaris Darmoyo Doyoatmojo Darmoyo Doyoatmojo Commissioner
Direksi: Board of Directors:
Direktur Utama Eka Satria Eka Satria President Director
Direktur Femi Firsadi Sastrena Femi Firsadi Sastrena Director
Direktur Imron Gazali Imron Gazali Director
Direktur Myrta Sri Utami Myrta Sri Utami Director
Komite Audit: Audit Committee:
Ketua M. Teguh Pamuji M. Teguh Pamuji Chairman
Anggota Ferry Sanjaya Ferry Sanjaya Member
Anggota Hendry Hendry Member
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
Perusahaan dan Entitas Anaknya (secara Company and its Subsidiaries (collectively
kolektif disebut sebagai “Grup”) memiliki referred to as the “Group”) have 786 and 758
karyawan tetap masing-masing sebanyak 786 permanent employees, respectively
dan 758 orang (tidak diaudit). (unaudited).
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
entitas induk terakhir Perusahaan adalah PT Company’s ultimate parent company is PT
Kalibiru Energi Lestari. Kalibiru Energi Lestari.
b. Aksi Korporasi b. Corporate action
Pada tanggal 1 Juli 2025, Perusahaan telah On July 1, 2025, the Company issued a Shelf
menerbitkan Obligasi Berkelanjutan I Medco Public Offering Bonds I Medco Power
Power Indonesia Tahap I tahun 2025 Seri A Indonesia Phase I year 2025 Tranche A and
dan Seri B, yang telah mendapatkan Tranche B, in which the statement of effectivity
pernyataan efektif dari Otoritas Jasa has been obtained from the Financial Services
Keuangan pada tanggal 20 Juni 2025 dan Authority on June 20, 2025 and initial listing at
melakukan pencatatan perdana di Bursa Efek Indonesia Stock Exchange on July 2, 2025
Indonesia pada tanggal 2 Juli 2025, dengan amounting to Rp300,000,000,000 for Tranche
jumlah Rp300.000.000.000 untuk Seri A A with a tenor of 5 years and Tranche B
dengan tenor 5 tahun dan untuk Seri B amounting to Rp200,000,000,000 with a tenor
sebesar Rp200.000.000.000 dengan tenor 7 of 7 years. The total issuance of the bonds
tahun. Jumlah Obligasi yang diterbitkan Rp500,000,000,000.
adalah sebesar Rp500.000.000.000.
Pada tanggal 7 Februari 2025, Perusahaan On February 7, 2025, the Company issued a
telah menerbitkan Sukuk Wakalah Shelf Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase IV year 2025
IV tahun 2025 Seri A, Seri B, dan Seri C yang Tranche A, Tranche B, and Tranche C in
telah mendapatkan pernyataan efektif dari which the statement of effectivity has been
Otoritas Jasa Keuangan pada tanggal 26 Juli obtained from the Financial Services Authority
2022 dan melakukan pencatatan perdana di on July 26, 2022 and initial listing at Indonesia
Bursa Efek Indonesia pada tanggal 10 Stock Exchange on February 10, 2025
Februari 2025, dengan jumlah amounting to Rp125,035,000,000 for Tranche
Rp125.035.000.000 untuk Seri A dengan tenor A with a tenor of 3 years, Tranche B
3 tahun, untuk Seri B sebesar amounting to Rp816,955,000,000 with a tenor
Rp816.955.000.000 dengan tenor 5 tahun, of 5 years, and Tranche C amounting to
dan untuk Seri C sebesar Rp208.010.000.000 Rp208,010,000,000 with a tenor of 7 years.
dengan tenor 7 tahun. Jumlah Sukuk Wakalah Sukuk Wakalah with total amounted to
yang diterbitkan adalah sebesar Rp1,150,000,000,000.
Rp1.150.000.000.000.
10
Page 160
2025 Management Business Company Corporate Sustainability
158 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
b. Aksi Korporasi (lanjutan) b. Corporate action (continued)
Pada tanggal 18 Januari 2024, Perusahaan On January 18, 2024, the Company issued
telah menerbitkan Sukuk Wakalah Shelf Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase III year 2024
III tahun 2024 Seri A, Seri B dan Seri C yang Tranche A, Tranche B and Tranche C in which
telah mendapatkan pernyataan efektif dari the statement of effectivity has been obtained
Otoritas Jasa Keuangan pada tanggal 26 Juli from the Financial Services Authority on July
2022 dan melakukan pencatatan perdana di 26, 2022 and initial listing at Indonesia Stock
Bursa Efek Indonesia pada tanggal 19 Januari Exchange on January 19, 2024, amounting to
2024, dengan jumlah Rp175.995.000.000 Rp175,995,000,000 for Tranche A,
untuk Seri A, Rp494.490.000.000 untuk Seri B Rp494,490,000,000 for Tranche B and
dan Rp79.515.000.000 untuk Seri C. Jumlah Rp79,515,000,000 for Tranche C. Sukuk
Sukuk Wakalah yang diterbitkan adalah wakalah amounted to Rp750,000,000,000.
sebesar Rp750.000.000.000.
Pada tanggal 27 Desember 2022, Perusahaan On December 27, 2022, the Company issued
telah menerbitkan Sukuk Wakalah Shelf Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase II year 2022
II tahun 2022 Seri A dan Seri B yang telah Tranche A and Tranche B in which the
mendapatkan pernyataan efektif dari Otoritas statement of effectivity has been obtained from
Jasa Keuangan pada tanggal 26 Juli 2022 dan the Financial Services Authority on July 26,
melakukan pencatatan perdana di Bursa Efek 2022 and initial listing at Indonesia Stock
Indonesia pada tanggal 28 Desember 2022, Exchange on December 28, 2022, amounting
dengan jumlah Rp469.690.000.000 untuk Seri to Rp469,690,000,000 for Tranche A and
A dan Rp130.310.000.000 Seri B. Jumlah Rp130,310,000,000 for Tranche B. Tranche A
Sukuk Wakalah yang diterbitkan adalah and Tranche B amounted to
sebesar Rp600.000.000.000. Rp600,000,000,000.
Pada tanggal 4 Agustus 2022, Perusahaan On August 4, 2022, the Company issued Shelf
telah menerbitkan Sukuk Wakalah Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase I year 2033
I tahun 2022 Seri A dan Seri B yang telah Tranche A and Tranche B in which the
mendapatkan pernyataan efektif dari Otoritas statement of effectivity has been obtained from
Jasa Keuangan pada tanggal 26 Juli 2022 dan the Financial Services Authority on July 26,
melakukan pencatatan perdana di Bursa Efek 2022 and initial listing at Indonesia Stock
Indonesia pada tanggal 5 Agustus 2022, Exchange on August 5, 2022, amounting to
dengan jumlah Rp280.000.000.000 untuk Seri Rp280,000,000,000 for Tranche A and
A dan Rp220.000.000.000 Seri B. Jumlah Rp220,000,000,000 for Tranche B. Tranche A
Sukuk Wakalah yang diterbitkan adalah and Tranche B amounted to
sebesar Rp500.000.000.000. Rp500,000,000,000.
Pada tanggal 23 Mei 2019, Perusahaan telah On May 23, 2019, the Company issued Medco
menerbitkan Sukuk Wakalah Medco Power Power Indonesia Sukuk Wakalah II for the
Indonesia II tahun 2019 yang telah year 2019 in which the statement of effectivity
mendapatkan pernyataan efektif dari Otoritas has been obtained from the Financial Services
Jasa Keuangan pada tanggal 20 Mei 2019 dan Authority on May 20, 2019 and initial listing at
melakukan pencatatan perdana di Bursa Efek Indonesia Stock Exchange on May 24, 2019
Indonesia pada tanggal 24 Mei 2019, dengan with sukuk wakalah amounted to
sukuk wakalah sebesar Rp850.000.000.000. Rp850,000,000,000.
Pada tanggal 4 Juli 2018, Perusahaan telah On July 4, 2018, the Company issued Medco
menerbitkan Obligasi Medco Power Indonesia Power Indonesia I bonds and Medco Power
I dan sukuk wakalah Medco Power Indonesia I Indonesia sukuk wakalah I for the year 2018 in
tahun 2018 yang telah mendapatkan which the statement of effectivity has been
pernyataan efektif dari Otoritas Jasa obtained from the Financial Services Authority
Keuangan pada tanggal 26 Juni 2018 dan on June 26, 2018 and initial listing at
melakukan pencatatan perdana di Bursa Efek Indonesia Stock Exchange on July 5, 2018
Indonesia pada tanggal 5 Juli 2018, dengan with bonds and sukuk wakalah amounted to
obligasi dan sukuk wakalah masing-masing Rp600,000,000,000, respectively. Bonds and
sebesar Rp600.000.000.000. Jumlah obligasi sukuk wakalah amounted to
dan sukuk wakalah adalah sebesar Rp1,200,000,000,000.
Rp1.200.000.000.000.
11
Page 161
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 159
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak c. Structure of the Subsidiaries
i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the
2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut:
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024
PT Dalle Panaran Belum memulai kegiatan Operasi atas 99,01% 99,01% 10.539.191 10.539.191
("DP"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Indo Medco Belum memulai kegiatan Operasi atas 99,98% 99,98% 2.004.347 2.003.390
Power ("IMP"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Muara Enim Multi Belum memulai kegiatan Operasi atas 80,00% 80,00% 1.406.850 1.390.123
Power ("MEMP"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Medco Belum memulai kegiatan Entitas bertujuan 100,00% 100,00% 1.224.549.227 965.560.720
Geothermal komersial/Has not yet khusus untuk proyek
Indonesia ("MGI"), 1) started commercial geothermal/Special
Indonesia operations purpose company for
geothermal projects
PT Medco Cahaya 9 Februari/February 9, Operasi atas 51,00% 51,00% 4.657.400.633 4.190.869.842
Geothermal ("MCG"), 2025 pembangkit listrik/
2) Operation of power
Indonesia plant
PT Sangsaka Agro Belum memulai kegiatan Entitas Induk dari 70,00% 70,00% 7.898.644 7.897.662
Lestari ("SAL"), 1) komersial/Has not yet SHL, BJI, SHS, SHK,
Indonesia started commercial SHC, SHB, SHPL/
operations Holding company of
SHL, BJI, SHS, SHK,
SHC, SHB, SHPL
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 56,00% 56,00% 1.000.000 1.000.000
Lestari ("SHL"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Bio Jatropha 13 September/ Operasi atas 69,93% 69,93% 250.439.384 237.469.188
Indonesia ("BJI"), 2) September 13, 2017 pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2032 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2032 in accordance
with Power Purchase
Agreement ("PPA")
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 69,93% 69,93% 1.000.000 1.000.000
Selatan ("SHS"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
12
Page 162
2025 Management Business Company Corporate Sustainability
160 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the
2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 67,20% 67,20% 14.870.029 14.852.464
Kasmar ("SHK"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 70,00% 70,00% 1.000.000 1.000.000
Cisereuh ("SHC"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 67,20% 67,20% 1.000.000 1.000.000
Patikala Lima komersial/Has not yet pembangkit listrik/
("SHPL"), 2) started commercial Operation of power
Indonesia operations plant
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 67,20% 67,20% 1.573.610 1.576.119
Baliase ("SHB"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Pembangkitan 23 Mei/May 23, 2018 Operasi atas 100,00% 100,00% 208.663.514 184.024.807
Pusaka Parahiangan pembangkit listrik
("PPP"), 1) dan penyediaan
Indonesia tenaga listrik sampai
dengan 2033 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2033 in accordance
with PPA
PT Medco Hidro Belum memulai kegiatan Induk Entitas 100,00% 100,00% 63.046.465 63.059.547
Indonesia ("MHI"), 1) komersial/Has not yet Perusahaan dari
Indonesia started commercial SHBar dan NES/
operations Holding company of
SHBar and NES
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 100,00% 100,00% 12.471.901 12.476.254
Barat ("SHBar"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Nawakara Energi Belum memulai kegiatan Operasi atas 80,00% 80,00% 15.583.783 15.576.994
Sumpur ("NES"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Medco Belum memulai kegiatan Operasi atas 100,00% 100,00% 2.691.000 2.613.500
Geothermal komersial/Has not yet pembangkit listrik/
Nusantara ("MGN"), started commercial Operation of power
1) operations plant
Indonesia
13
Page 163
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 161
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the
2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024
PT Medco Power 10 Februari/February Entitas induk dari 100,00% 100,00% 662.840.079 653.941.920
Sentral Sumatra 10, 2022 MRPR/Holding
("MPSS"), 1) company of MRPR
Indonesia
PT Medco Ratch 10 Februari/February Operasi atas 51,00% 51,00% 5.992.178.779 5.913.126.804
Power Riau 10, 2022 pembangkit listrik
("MRPR"), 2) dan penyediaan
Indonesia tenaga listrik sampai
dengan 2042 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2042 in accordance
with PPA
PT Medcopower Belum memulai kegiatan Operasi atas 100,00% 100,00% 96.230.083 92.445.605
Energi Baru komersial/Has not yet pembangkit listrik/
("MPEB"), 1) started commercial Operation of power
Indonesia operations plant
PT Medcopower Belum memulai kegiatan Operasi atas 100,00% 100,00% 515.904 511.927
Surya Nusantara komersial/Has not yet pembangkit listrik/
("MPSN"), 2) started commercial Operation of power
Indonesia operations plant
PT Medcopower 24 Agustus/August 24, Operasi atas 100,00% 100,00% 1.767.370 1.364.916
Transportasi Listrik 2021 kendaraan listrik dan
("MPTL"), 2) infrastruktur
Indonesia pendukung/
Operation of electric
vehicles and related
infrastructures
PT Medcosolar Bali 17 Juli/July 17, 2025 Operasi atas 51,00% 51,00% 386.948.546 240.046.856
Timur ("MSBT"), 1) pembangkit listrik/
Indonesia Operation of power
plant
PT Medco Solar Bali Belum memulai kegiatan Operasi atas 51,00% 51,00% 48.678.404 48.873.949
Barat ("MSBB"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Medco Kansai Belum memulai kegiatan Entitas Induk dari 60,00% 60,00% 2.257.942.596 2.181.479.859
Power Indonesia komersial/Has not yet DEB, MGS, EPE,
("MKPI"), 1) started commercial MPE, MPSI, UBE,
Indonesia operations MEM, MGPS /
Holding company of
DEB, MGS, EPE,
MPE, MPSI, UBE,
MEM, MGPS
PT Dalle Energy 24 Januari/January 24, Operasi atas 47,99% 47,99% 767.931.949 436.076.887
Batam ("DEB"), 2) 2006 pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2030 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2030 in accordance
with PPA
14
Page 164
2025 Management Business Company Corporate Sustainability
162 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the
2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024
PT Multidaya Prima 8 Mei/May 8, 2008 Operasi atas 51,00% 51,00% 159.596.839 169.398.488
Elektrindo ("MPE"), 2) pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2028 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2028 in accordance
with PPA
PT Energi Prima 1 Juli/July 1, 2006 Operasi atas 55,50% 55,50% 86.889.425 116.430.104
Elektrika ("EPE"), 2) pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2026 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2026 in accordance
with PPA
PT Medcopower 10 Februari/February Operasi atas 62,00% 62,00% 74.471.553 77.989.526
Servis Indonesia 10, 2022 pembangkit listrik
("MPSI"), 2) selama 20 tahun
Indonesia sesuai dengan
perjanjian operasi
dan pemeliharaan/
Operation of power
plant for 20 years in
accordance with
Operation and
Maintenance
Agreement
PT Universal Batam 6 Januari/January 6, Entitas induk dari 42,00% 42,00% 293.366.835 221.597.178
Energy ("UBE"), 2) 2016 ELB/Holding
Indonesia company of ELB
PT Energi Listrik 6 Januari/January 6, Operasi atas 43,39% 43,39% 2.288.923.629 1.851.020.922
Batam ("ELB"), 2) 2016 pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2045 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2045 in accordance
with PPA
PT Medco Energi 29 Oktober/October 29, Entitas Induk dari 59,99% 59,99% 150.913.218 150.913.338
Menamas ("MEM"), 2) 2004 MEB/Holding
Indonesia company of MEB
15
Page 165
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 163
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the
2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024
PT Mitra Energi 29 Oktober/October 29, Operasi atas 42,39% 42,39% 638.793.090 600.905.267
Batam ("MEB"), 2) 2004 pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2034 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2034 in accordance
with PPA
PT TJB Power 1 Oktober/October 1, Operasi atas 49,88% 49,88% 259.258.773 222.785.728
Services ("TJBPS"), 2006 pembangkit listrik
2) selama 24 tahun
Indonesia sesuai dengan
perjanjian operasi
dan pemeliharaan/
Operation of power
plant for 24 years in
accordance with
Operation and
Maintenance
Agreement
PT Medco General 28 Juli/July 28, 2008 Induk dari 59,76% 59,76% 73.477.708 73.298.475
Power Services Perusahaan dari
("MGPS"), 2) TJBPS/Holding
Indonesia company of TJBPS
PT Medco Solar Belum memulai kegiatan Operasi atas 100,00% 100,00% 2.500.050 2.500.050
Pasifik (“MSP"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
Medco Power Global Belum memulai kegiatan Operasi atas 100,00% 100,00% 68.761.516 62.710.881
Pte. Ltd. ("MPG"), 1) komersial/Has not yet pembangkit listrik/
Singapura/Singapore started commercial Operation of power
operations plant
PT Medcopower Belum memulai kegiatan Pemegang saham 100,00% 100,00% 2.585.521 2.512.946
Elektrika Indonesia komersial/Has not yet minoritas dari MSP/
("MPEI"), 1) started commercial Minority shareholder
Indonesia operations of MSP
PT Medco 22 April/April 22, 2008 Operasi atas 61,96% 61,96% 120.104.006 120.577.083
Geothermal Sarulla pembangkit listrik
("MGS"), 2) selama 6 tahun
Indonesia sesuai dengan
perjanjian operasi
dan pemeliharaan/
Operation of power
plant for 6 years in
accordance with
Operation and
Maintenance
Agreement
16
Page 166
2025 Management Business Company Corporate Sustainability
164 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the
2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024
PT Medco Belum memulai kegiatan Operasi atas 100,00% 100,00% 121.791.940 13.243.450
Geothermal komersial/Has not yet pembangkit listrik/
Sumatera ("MGSu"), started commercial Operation of power
2) Indonesia operations plant
PT Medco Power 21 September/ Operasi atas 100,00% 100,00% 24.572.980 20.606.484
Energi Services September 21, 2024 pembangkit listrik/
("MPES"), 1) Operation of power
Indonesia plant
PT Medco Power 9 Februari/February 9, Operasi atas 60,00% 60,00% 46.665.327 16.219.259
Geothermal Services 2025 pembangkit listrik/
("MPGS"), 2) Operation of power
Indonesia plant
PT Medco Power Belum memulai kegiatan Operasi atas 100,00% 100,00% 868.533 1.752.790
Solar Transmisi komersial/Has not yet pembangkit listrik/
("MPST"), 1) started commercial Operation of power
Indonesia operations plant
PT Medco Power Belum memulai kegiatan Operasi atas 100,00% 100,00% 1.694.788 1.675.000
Geothermal Energi komersial/Has not yet pembangkit listrik/
("MPGE"), 2) started commercial Operation of power
Indonesia operations plant
1) Entitas anak dengan kepemilikan langsung oleh PT Medco Power Indonesia 1) Subsidiaries held directly by PT Medco Power Indonesia
2) Entitas anak dengan kepemilikan tidak langsung 2) Subsidiaries held indirectly through subsidiary undertakings
ii. Perusahaan, melalui MGeoPS, memiliki ii. The Company, through MGeoPS, has
kepemilikan sebesar 18,8075% pada interest of 18.8075% in the Sarulla
Sarulla Geothermal Operation (Grup Geothermal Operation (Joint Operation
Kontraktror Pengendalian Bersama) Contractor Group) (“JOCG”). After the
(“GKPB”). Setelah pengalihan 2% transfer of MPI's 2% ownership in
kepemilikan MPI pada MGeoPS di bulan MGeoPS in May 2021, the effective
Mei 2021, maka kepemilikan efektif pada ownership in JOCG decreased to 18.07%
GKPB turun menjadi 18,07% (Note 15). MGeoPS owned 36.8775%
(Catatan 15). MGeoPS memiliki interest in JOCG. The JOCG is engaged in
kepentingan sebesar 36,8775% di GKPB. the exploration and exploitation of
GKPB ditunjuk untuk melakukan eksplorasi geothermal energy resources in the Sarulla
dan eksploitasi atas sumber energi area with the size of approximately 490
geotermal pada area Sarulla dengan luas km2 (unaudited), in North Sumatera, and
lahan sebesar 490 km2 (tidak diaudit) di to generate electricity from those resources
Sumatera Utara dan untuk menghasilkan as well as sale to PT Perusahaan Listrik
energi listrik dari sumber tersebut serta Negara (Persero) (“PT PLN (Persero)”).
menjual kepada PT Perusahaan Listrik Since December 10, 2007, JOCG
Negara (Persero) (“PT PLN (Persero)”). appointed Sarulla Operations Ltd. as the
Sejak tanggal 10 Desember 2007, GKPB Operator.
menunjuk Sarulla Operations Ltd. sebagai
Operator.
17
Page 167
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 165
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL POLICIES INFORMATION
a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of the Consolidated
Konsolidasian Financial Statements
Laporan keuangan konsolidasian telah The consolidated financial statements have
disusun sesuai dengan Standar Akuntansi been prepared in accordance with Indonesian
Keuangan di Indonesia (“SAK”), yang Financial Accounting Standards (“SAK”),
mencakup Pernyataan dan Interpretasi yang which comprise the Statements and
dikeluarkan oleh Dewan Standar Akuntansi Interpretations issued by the Financial
Keuangan Ikatan Akuntan Indonesia (“DSAK Accounting Standards Board of the Institute of
IAI”) dan Peraturan-Peraturan serta Pedoman Indonesia Chartered Accountants (Dewan
Penyajian dan Pengungkapan Laporan Standar Akuntansi Keuangan Ikatan Akuntan
Keuangan yang diterbitkan oleh Otoritas Jasa Indonesia or “DSAK IAI”) and the Regulations
Keuangan (“OJK”). and Guidelines on Financial Statement
Presentation and Disclosures issued by
Financial Services Authority (Otoritas Jasa
Keuangan or “OJK”).
Laporan keuangan konsolidasian disusun The consolidated financial statements have
berdasarkan konsep akrual, kecuali laporan been prepared on the accrual basis, except for
arus kas konsolidasian, dengan menggunakan the consolidated statement of cash flows,
konsep biaya historis, kecuali seperti yang using the historical cost concept of accounting,
disebutkan dalam Catatan atas laporan except as disclosed in the relevant Notes to
keuangan konsolidasian yang relevan. the consolidated financial statements herein.
Kebijakan akuntansi yang diterapkan oleh The accounting policies adopted by the Group
Grup adalah selaras bagi tahun yang dicakup are consistently applied for the years covered
oleh laporan keuangan konsolidasian, kecuali by the consolidated financial statements,
untuk standar akuntansi baru dan revisi seperti except for new and revised accounting
diungkapkan pada Catatan 2y di bawah ini. standards as disclosed in the following Note
2y.
Grup telah menyusun laporan keuangan The Group has prepared the consolidated
konsolidasian dengan dasar bahwa Grup akan financial statements on the basis that it will
terus beroperasi secara berkesinambungan. continue to operate as a going concern.
Laporan arus kas konsolidasian menyajikan The consolidated statement of cash flows
penerimaan dan pengeluaran kas dan setara presents receipts and disbursements of cash
kas yang diklasifikasikan ke dalam aktivitas and cash equivalents classified into operating,
operasi, investasi dan pendanaan. Arus kas investing and financing activities. The cash
dari aktivitas operasi disajikan dengan flows from operating activities are presented
menggunakan metode langsung. using the direct method.
b. Prinsip Konsolidasi b. Principles of Consolidation
Laporan keuangan konsolidasian terdiri dari The consolidated financial statements
laporan keuangan Perusahaan dan entitas comprise the financial statements of the
anaknya seperti dijelaskan pada Catatan 1c. Company and its subsidiaries as described in
Note 1c.
Laporan keuangan konsolidasian meliputi The consolidated financial statements
laporan keuangan Perusahaan dan entitas- comprise the financial statements of the
entitas anak (“Grup”) pada tanggal 31 Company and its subsidiaries (“Group”) at
Desember setiap tahun. Kendali diperoleh bila December 31 each year. Control is achieved
Grup terekspos atau memiliki hak atas imbal when the Group’s exposed, or has rights, to
variable returns from its involvement with the
hasil variabel dari keterlibatannya dengan investee and has the ability to affect those
investee dan memiliki kemampuan untuk returns through its power over the investee.
mempengaruhi imbal hasil tersebut melalui Thus, the Group controls an investee if and
kekuasaannya atas investee. Dengan only if the Group has all of the following:
demikian, investor mengendalikan investee
jika dan hanya jika investor memiliki seluruh
hal berikut ini:
18
Page 168
2025 Management Business Company Corporate Sustainability
166 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Prinsip Konsolidasi (lanjutan) b. Principles of Consolidation (continued)
i. Kekuasaan atas investee, yaitu hak yang i. Power over the investee, that is existing
ada saat ini yang memberi Grup rights that give the Group current ability to
kemampuan kini untuk mengarahkan direct the relevant activities of the investee;
aktivitas relevan dari investee;
ii. Eksposur atau hak atas imbal hasil ii. Exposure, or rights, to variable returns
variabel dari keterlibatan Grup dengan from its involvement with the investee; and
investee; dan
iii. Kemampuan untuk menggunakan iii. The ability to use its power over the
kekuasaannya atas investee untuk investee to affect its returns.
mempengaruhi jumlah imbal hasil.
Umumnya, kepemilikan hak suara mayoritas Generally, there is a presumption that a
menghasilkan pengendalian. Untuk majority of voting rights result in control. To
mendukung hal ini dan jika Grup memiliki hak support this presumption and when the Group
suara kurang dari hak suara mayoritas, atau has less than a majority of the voting or similar
hak sejenis atas suatu investee, Grup rights of an investee, the Group considers all
mempertimbangkan seluruh fakta dan relevant facts and circumstances in assessing
keadaan ketika menilai apakah Grup memiliki whether it has power over an investee,
kekuasaan atas investee, termasuk: including:
a. pengaturan kontraktual dengan pemegang a. the contractual arrangement with the other
hak suara lainnya pada investee; vote holders of the investee;
b. hak-hak yang timbul dari pengaturan b. rights arising from other contractual
kontraktual lain; dan arrangements; and
c. hak suara yang dimiliki Grup dan hak c. the Group voting rights and potential voting
suara potensial. rights.
Grup menilai kembali apakah masih The Group re-assesses whether or not it
mengendalikan investee jika fakta dan controls an investee if facts and circumstances
keadaan mengindikasikan bahwa terdapat indicate that there are changes to one or more
perubahan dalam satu atau lebih dari tiga of the three elements of control. Consolidation
elemen pengendalian. Konsolidasi atas entitas of a subsidiary begins when the Group obtains
anak dimulai sejak tanggal Grup memperoleh control over the subsidiary and ceases when
pengendalian atas entitas anak dan berakhir the Group loses control of the subsidiary.
ketika Grup kehilangan pengendalian atas
entitas anak.
Aset, liabilitas, pendapatan dan beban atas Assets, liabilities, income and expenses of a
entitas anak yang diakuisisi atau dijual selama subsidiary acquired or disposed of during the
tahun berjalan tercatat dalam laporan year are included in the consolidated financial
keuangan konsolidasian dari tanggal Grup statements from the date the Group gain
mendapatkan pengendalian hingga tanggal control until the date the Group ceases to
Grup kehilangan pengendalian atas entitas
anak. Perubahan dalam bagian kepemilikan control the subsidiary. A change in the
Grup pada entitas anak yang tidak ownership interest of a subsidiary, without a
mengakibatkan hilangnya pengendalian loss of control, is accounted for as an equity
dicatat sebagai transaksi ekuitas. transaction.
Laporan keuangan (konsolidasian) entitas The (consolidated) financial statements of the
anak dibuat untuk periode pelaporan yang subsidiaries are prepared for the same
sama dengan Perusahaan, menggunakan reporting period as the Company, using
kebijakan akuntansi yang konsisten. consistent accounting policies.
Semua akun dan transaksi antar Grup yang All material intercompany accounts and
material, termasuk keuntungan atau kerugian transactions, including unrealized gains or
yang belum direalisasi, jika ada, dieliminasi losses, if any, are eliminated to reflect the
untuk mencerminkan posisi keuangan dan financial position and the results of operations
hasil operasi Grup sebagai satu kesatuan of the Group as one business entity.
usaha.
19
Page 169
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 167
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Prinsip Konsolidasi (lanjutan) b. Principles of Consolidation (continued)
Laba rugi dan setiap komponen dari Profit or loss and each component of other
penghasilan komprehensif lain (“PKL”) comprehensive income (“OCI”) are attributed
diatribusikan kepada pemilik entitas induk dari to the equity holders of the parent of the Group
Grup dan kepentingan non-pengendali and to the non-controlling interests (“NCI”),
(“KNP”), meskipun hal tersebut even if this results in the NCI having a deficit
mengakibatkan KNP memiliki saldo defisit. balance. When necessary, adjustments are
Ketika diperlukan, penyesuaian dibuat atas made to the financial statements of
laporan keuangan entitas anak untuk subsidiaries to bring their accounting policies
menyesuaikan kebijakan akuntansinya sesuai into line with the Group’s accounting policies.
dengan kebijakan akuntansi Grup. Seluruh All material intercompany accounts and
saldo akun dan transaksi yang material antar transactions, including unrealized gains and
Perusahaan, termasuk keuntungan dan losses, if any, is eliminated to reflect the
kerugian belum terealisasi, jika ada, consolidated financial position and financial
dieliminasi untuk merefleksikan laporan performance of the Group as one business
keuangan konsolidasian Grup sebagai entity.
kesatuan entitas bisnis.
Ketika Grup kehilangan pengendalian pada If the Group loses control over a subsidiary, it
entitas anak, maka Grup (i) menghentikan (i) derecognizes the related assets (including
pengakuan aset (termasuk goodwill), liabilitas, goodwill), liabilities, NCI and other component
KNP dan komponen ekuitas lainnya, (ii) of equity, (ii) recognize the fair value of
mengakui imbalan yang diterima pada nilai consideration received, (iii) reclassify to profit
wajar, (iii) mereklasifikasi ke laba rugi, atau or loss, or transfer directly to retained earnings
dialihkan langsung ke saldo laba apabila if required by other accounting standards, the
diharuskan oleh standar akuntansi, jumlah amount recognized in other comprehensive
yang diakui di penghasilan komprehensif lain income in relation to the related subsidiaries,
entitas anak terkait, (iv) mengakui keuntungan (iv) any resultant gain or loss with loss of
atau kerugian terkait dengan hilangnya control is recognized in profit or loss. Any
pengendalian. Saldo investasi yang masih investment retained is recognized at fair value.
dimiliki diakui pada nilai wajarnya.
Apabila Grup berkomitmen terhadap rencana If the group commits to a planned sale that
penjualan yang mengakibatkan kehilangan results in loss of control of a subsidiary and
pengendalian pada entitas anak dan classifies all assets and liabilities of the
mengklasifikasikan seluruh aset dan liabilitas subsidiary as assets held for sale when the
entitas anak tersebut sebagai aset dimiliki criteria for non-current assets held for sale are
untuk dijual ketika kriteria sebagai aset tidak met, regardless of whether after the sale the
lancar dimiliki untuk dijual terpenuhi, terlepas Group still has a non-controlling interest in the
apakah setelah penjualan tersebut Grup masih previous Subsidiary or not.
memiliki kepentingan non-pengendali terhadap
entitas anak terdahulu atau tidak.
c. Kombinasi Bisnis dan Goodwill c. Business Combination and Goodwill
Kombinasi bisnis dicatat dengan Business combinations are accounted for
menggunakan metode akuisisi. Biaya using the acquisition method. The cost of an
perolehan dari suatu akuisisi diukur dari nilai acquisition is measured as the aggregate of
agregat imbalan yang dialihkan, diukur pada the consideration transferred, measured at
nilai wajar pada tanggal akuisisi dan jumlah acquisition date fair value and the amount of
setiap KNP pada pihak yang diakuisisi. Untuk any NCI in the acquiree. For each business
setiap kombinasi bisnis, Grup memilih apakah combination, the Group elects whether it
mengukur KNP pada entitas yang diakuisisi measures the NCI in the acquiree either at fair
baik pada nilai wajar ataupun pada proporsi value or at the proportionate share of the
kepemilikan KNP atas aset neto yang acquiree’s identifiable net assets. Acquisition-
teridentifikasi dari entitas yang diakuisisi. related costs incurred are directly expensed
Biaya-biaya akuisisi yang timbul dibebankan and included in “Operating Expenses”.
langsung dan dicatat dalam “Beban
Operasional”.
20
Page 170
2025 Management Business Company Corporate Sustainability
168 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Kombinasi Bisnis dan Goodwill (lanjutan) c. Business Combination and Goodwill
(continued)
Grup menentukan bahwa mereka telah The Group determines that it has acquired a
mengakuisisi bisnis ketika rangkaian aktivitas business when the acquired set of activities
dan aset yang diakuisisi mencakup input dan and assets include an input and a substantive
proses substantif yang bersama-sama secara process that together significantly contribute to
signifikan berkontribusi pada kemampuan the ability to create outputs. The acquired
untuk menghasilkan output. Proses yang process is considered substantive if it is critical
diperoleh adalah substantif jika penting bagi to the ability to continue producing outputs,
kemampuan untuk terus menghasilkan output, and the inputs acquired include an organized
dan input yang diperoleh mencakup tenaga workforce with the necessary skills,
kerja yang terorganisir dengan keterampilan, knowledge, or experience to perform that
pengetahuan, atau pengalaman yang process or it significantly contributes to the
diperlukan untuk melakukan proses itu atau ability to continue producing outputs and is
secara signifikan berkontribusi pada considered unique or scarce or cannot be
kemampuan untuk terus menghasilkan output replaced without significant cost, effort, or
dan dianggap unik atau langka atau tidak delay in the ability to continue producing
dapat diganti tanpa biaya, usaha, atau outputs.
penundaan yang signifikan dalam kemampuan
untuk terus menghasilkan output.
Ketika Perusahaan melakukan akuisisi atas When the Company acquires a business, the
sebuah bisnis, Perusahaan mengklasifikasikan Company assesses the financial assets
dan menentukan aset keuangan dan liabilitas acquired and liabilities assumed for
keuangan yang diambil alih sesuai dengan appropriate classification and designation in
klasifikasinya dan peruntukannya yang tepat accordance with the contractual terms,
berdasarkan persyaratan kontraktual, kondisi economic circumstances and pertinent
ekonomi dan kondisi terkait lainnya yang ada conditions as at the acquisition date. This
pada tanggal akuisisi. Hal ini termasuk includes the separation of embedded
pemisahan atas derivatif yang melekat pada derivatives in host contracts by the acquiree. If
kontrak utama oleh pihak yang diakuisisi. the business combination is achieved in
Dalam suatu kombinasi bisnis yang dilakukan stages, the acquisition date fair value of the
secara bertahap, pihak pengakuisisi mengukur acquirer’s previously held equity interest in the
kembali kepemilikan atas ekuitas yang dimiliki acquiree is remeasured to fair value at the
sebelumnya pada pihak yang diakuisisi acquisition date through profit or loss.
sebelumnya berdasarkan nilai wajar pada
tanggal akuisisi dan mengakui keuntungan
atau kerugian yang terjadi dalam laba rugi.
Imbalan kontinjensi yang akan dibayarkan Any contingent consideration to be transferred
oleh pihak pengakuisisi diakui pada nilai wajar by the acquirer will be recognized at fair value
pada tanggal akuisisi. Perubahan nilai wajar at the acquisition date. Subsequent changes
atas imbalan kontinjensi setelah tanggal to the fair value of the contingent consideration
akuisisi yang diklasifikasikan sebagai aset which is deemed to be an asset or liability will
atau liabilitas, akan diakui dalam laporan laba be recognized in accordance with PSAK No.
rugi atau sebagai penghasilan komprehensif 109 either in profit or loss or as other
lain sesuai dengan PSAK No. 109. Imbalan comprehensive income. Other contingent
kontinjensi lain yang tidak termasuk dalam consideration that is not within the scope of
PSAK No. 109 diukur sebesar nilai wajar pada PSAK No. 109 is measured at fair value at
setiap tanggal pelaporan dengan perubahan each reporting date with changes in fair value
nilai wajar yang diakui pada laba rugi. recognized in profit or loss.
Pada tanggal akuisisi, goodwill awalnya diukur At acquisition date, goodwill is initially
pada harga perolehan yang merupakan selisih measured at cost being the excess of the
lebih nilai agregat dari imbalan yang dialihkan aggregate of the consideration transferred and
dan jumlah setiap KNP atas selisih jumlah dari the amount recognized for NCI over the net
aset teridentifikasi yang diperoleh dan liabilitas identifiable assets acquired and liabilities
yang diambil alih. Jika imbalan tersebut lebih assumed. If this consideration is lower than
rendah dari nilai wajar aset neto entitas anak the fair value of the net assets of the
yang diakuisisi, selisih tersebut diakui pada subsidiary acquired, the difference is
laba rugi sebagai keuntungan dari pembelian recognized in profit or loss as gain on bargain
dengan diskon setelah sebelumnya purchase after previously assessing the
manajemen melakukan penilaian atas identification and fair value measurement of
identifikasi dan nilai wajar dari aset yang the acquired assets and the assumed
diperoleh dan liabilitas yang diambil alih. liabilities.
21
Page 171
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 169
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Kombinasi Bisnis dan Goodwill (lanjutan) c. Business Combination and Goodwill
(continued)
Kombinasi Bisnis Entitas Sepengendali Business Combination of Entities Under
Common Control
Berdasarkan PSAK No. 338, transaksi Under PSAK No. 338, the transaction of
kombinasi bisnis entitas sepengendali tidak business combination of entities under
mengakibatkan perubahan substansi ekonomi common control does not result in a change of
kepemilikan atas bisnis yang dipertukarkan, the economic substance of the ownership of
oleh sebab itu, transaksi tersebut diakui pada businesses which are exchanged, thus the
nilai tercatat berdasarkan metode penyatuan said transaction is recognized at its carrying
kepemilikan. Dalam menerapkan metode amount using the pooling-of-interest method.
penyatuan kepemilikan, unsur-unsur laporan In applying the pooling-of-interest method, the
keuangan dari entitas yang bergabung, untuk components of the financial statements of the
tahun terjadinya kombinasi bisnis entitas combining entities, for the year during which
sepengendali dan untuk tahun komparatif the business combination of entities under
sajian, disajikan seolah-olah penggabungan common control occurred and for the
tersebut telah terjadi sejak awal tahun entitas comparative year, are presented in such a
yang bergabung berada dalam manner as if the combination has occurred
sepengendalian. Selisih antara jumlah imbalan since the beginning of the year of the
yang dialihkan dalam kombinasi bisnis entitas combining entity under common control.
sepengendali atau jumlah imbalan yang Difference in value of considerations
diterima dalam pelepasan bisnis entitas transferred in a business combination of
sepengendali, jika ada, dengan nilai tercatat entities under common control or
bisnis tersebut dicatat sebagai bagian dari considerations received in a disposal of
akun "Tambahan Modal Disetor" pada laporan business of entities under common control, if
posisi keuangan konsolidasian. any, with its carrying amount is recognized as
part of "Additional Paid-in Capital" in the
consolidated statements of financial position.
d. Transaksi dengan Pihak Berelasi d. Transactions with Related Parties
Grup melakukan transaksi dengan pihak-pihak The Group has transactions with their related
berelasi sebagaimana didefinisikan dalam parties as defined under PSAK No. 224,
PSAK No. 224, “Pengungkapan Pihak-pihak “Related Party Disclosures”. The significant
Berelasi”. Transaksi dan saldo yang signifikan transactions and balances are disclosed in
diungkapkan dalam Catatan 8. Note 8.
Transaksi dilakukan berdasarkan persyaratan The transactions are made based on terms
yang disetujui oleh para pihak. Persyaratan agreed by the parties. Such terms may not be
tersebut mungkin tidak sama dengan the same as those of the transactions between
persyaratan transaksi dengan pihak-pihak unrelated parties.
yang tidak berelasi.
Seluruh transaksi dan saldo dengan pihak- All significant transaction and balances with
pihak berelasi yang signifikan diungkapkan related parties are disclosed in the notes to the
dalam catatan atas laporan keuangan consolidated financial statements.
konsolidasian.
e. Kas dan Setara Kas e. Cash and Cash Equivalents
Kas dan setara kas terdiri dari kas dan bank Cash and cash equivalents consist of cash on
dan deposito berjangka dengan jangka waktu hand and in banks, and short-term time
tiga bulan atau kurang sejak tanggal deposits with original maturities of three
penempatan, yang tidak digunakan sebagai months or less at the time of placement which
jaminan untuk pinjaman atau tidak dibatasi are not pledged as collateral for loans or not
penggunaannya. restricted as to use.
22
Page 172
2025 Management Business Company Corporate Sustainability
170 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
f. Rekening Bank dan Deposito Berjangka f. Restricted Cash in Banks and Time Deposit
yang dibatasi Penggunaannya
Deposito berjangka dan investasi jangka Time deposits and other short-term
pendek lainnya dengan jangka waktu tiga investments with a maturity date of three
bulan atau kurang sejak tanggal penempatan months or less at the time of placement which
yang tidak digunakan sebagai jaminan atau are not used as collateral or are not restricted
dibatasi penggunaannya, diklasifikasikan as to use, are classified as “Cash
sebagai “Setara Kas”. Equivalents”.
Deposito dan rekening bank yang dibatasi Restricted time deposits and cash in banks
penggunaannya, dimana porsi yang akan which will be used to pay currently maturing
digunakan untuk membayar utang yang jatuh obligations is presented under current assets.
tempo dalam satu tahun disajikan sebagai Other bank accounts and time deposits which
aset lancar. Rekening bank lainnya dan are pledged or restricted in use are presented
deposito berjangka yang dipakai sebagai under non-current assets.
agunan atau dibatasi penggunaannya
disajikan sebagai aset tidak lancar.
g. Aset Eksplorasi dan Evaluasi g. Exploration and Evaluation Assets
Aset eksplorasi dan evaluasi merupakan Exploration and evaluation assets represent
akumulasi biaya yang berkaitan dengan the accumulated costs relating to general
penyelidikan dan administrasi umum, investigation and administration, geological
pengeluaran geologi dan geofisika, survei and geophysical expenditures, topographic
topografi, studi lingkungan dan biaya lainnya survey, environmental study and other costs
yang terjadi untuk mengembangkan area incurred to develop an area before the
sebelum dimulainya operasi komersial. commencement of the commercial operations.
h. Transaksi dan Saldo dalam Mata Uang h. Foreign Currency Transactions and
Asing Balances
Grup menerapkan PSAK No. 221, "Pengaruh The Group applied PSAK No. 221, “The Effect
Perubahan Kurs Valuta Asing", yang of Changes in Foreign Exchange Rates”,
menjelaskan bagaimana cara memasukkan which describes how to include foreign
transaksi mata uang asing dan operasi luar currency transactions and foreign operations
negeri dalam laporan keuangan entitas dan in the financial statements of an entity and
mentranslasikan laporan keuangan ke dalam translate financial statements into a
suatu mata uang penyajian. Grup presentation currency. The Group consider the
mempertimbangkan indikator utama dan primary indicators and other indicators in
indikator lainnya dalam menentukan mata determining their functional currency. If
uang fungsional mereka. Jika indikator indicators are mixed and the functional
tercampur dan mata uang fungsional tidak currency is not obvious, management uses its
jelas, manajemen menggunakan penilaiannya judgment to determine the functional currency
untuk menentukan mata uang fungsional yang that most faithfully represents the economic
paling tepat mewakili dampak ekonomi dari effects of the underlying transactions, events
transaksi, kejadian dan kondisi yang and conditions.
mendasarinya.
Laporan keuangan konsolidasian disajikan The consolidated financial statements are
dalam mata uang Rupiah, yang merupakan presented in Rupiah, which is the functional
mata uang fungsional Grup, kecuali untuk currency of the Group, except for MPE, EPE,
MPE, EPE, MCG, ELB, MRPR, MSBT, dan MCG, ELB, MRPR, MSBT, and MGSu whose
MGSu yang mata uang fungsionalnya adalah functional currency is the United States (US)
Dollar Amerika Serikat (AS). Dollar.
23
Page 173
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 171
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
h. Transaksi dan Saldo dalam Mata Uang h. Foreign Currency Transactions and
Asing (lanjutan) Balances (continued)
Transaksi Grup, kecuali MPE, EPE, MCG, Transactions of the Group, except MPE, EPE,
ELB, MRPR, MSBT, dan MGSu yang MCG, ELB, MRPR, MSBT, and MGSu,
melibatkan mata uang asing dicatat dalam involving foreign currencies are recorded in
akun dalam mata uang Rupiah dengan the accounts in Rupiah amounts using the
menggunakan kurs yang berlaku pada saat rates of exchange prevailing at the time the
terjadinya transaksi. Pada tanggal laporan transactions occur. At the consolidated
posisi keuangan konsolidasian, semua aset statement of financial position date, all
dan kewajiban moneter dalam mata uang monetary assets and liabilities denominated in
asing, yang sebagian besar dalam Dolar AS, foreign currencies and US Dollar, are adjusted
disesuaikan untuk mencerminkan kurs yang to reflect the rate of exchange prevailing at
berlaku pada tanggal tersebut dan laba atau such date, and the resulting gains or losses
rugi yang terjadi dikreditkan atau dibebankan are credited or charged to current operations.
pada operasi tahun berjalan.
Transaksi MPE, EPE, MCG, ELB, MRPR, Transactions of MPE, EPE, MCG, ELB,
MSBT, dan MGSu yang melibatkan mata uang MRPR, MSBT, and MGSu involving currencies
selain Dolar AS dicatat dengan kurs yang other than US Dollar are recorded at the rates
berlaku pada tanggal transaksi. of exchange in effect on the date of the
transactions.
Keuntungan dan kerugian selisih kurs dari Foreign exchange gains and losses from the
proses pengukuran kembali diakui dalam re-measurement process are recognized in
laporan laba rugi. profit or loss.
Untuk tujuan pelaporan dalam mata uang For purposes of reporting in Rupiah, the
Rupiah, aset dan liabilitas MPE, EPE, MCG, assets and liabilities of MPE, EPE, MCG, ELB,
ELB, MRPR, MSBT, dan MGSu dijabarkan ke MRPR, MSBT, and MGSu are translated into
mata uang Rupiah dengan menggunakan Rupiah using the rates of exchange prevailing
kurs yang berlaku pada tanggal laporan posisi at the statement of financial position date,
keuangan, akun ekuitas dijabarkan dengan equity accounts are translated using historical
menggunakan kurs historis, sementara rates of exchange, while revenues and
pendapatan dan beban dan arus kas expenses and cash flows are translated at the
dijabarkan dengan kurs rata-rata untuk average exchange rates for the period. The
periode tersebut. Selisih kurs yang timbul resulting foreign exchange differences are
dikreditkan atau dibebankan pada akun credited or charged to the account “Difference
"Selisih Kurs Penjabaran Mata Uang Asing", in Foreign Currency Translation”, under the
pada bagian Ekuitas dalam laporan posisi Equity section of the consolidated statement of
keuangan konsolidasian. financial position.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the rates
nilai tukar yang digunakan adalah sebagai of exchange applied were as follows:
berikut:
2025 2024
Dolar Amerika Serikat 16.782/AS$ 16.162/AS$ United States Dollar
Dolar Singapura 13.069/S$ 11.919/S$ Singapore Dollar
Euro 19.753/€ 16.851/€ Euro
Pound Sterling 22.666/GBP 20.333/GBP Pound Sterling
Yen 108/JPY 102/JPY Yen
24
Page 174
2025 Management Business Company Corporate Sustainability
172 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
i. Pengakuan Pendapatan dan Beban i. Revenue and Expense Recognition
Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers is
diakui pada saat pengendalian jasa dialihkan recognized when control of the services is
kepada pelanggan dalam jumlah yang transferred to the customer at an amount that
mencerminkan imbalan yang diharapkan Grup reflects the consideration to which the Group
sebagai imbalan atas jasa tersebut. Grup telah expects to be entitled in exchange for those
menyimpulkan bahwa Grup adalah prinsipal services. The Group has generally concluded
dalam pengaturan pendapatannya karena that it is the principal in its revenue
Grup mengendalikan barang atau jasa arrangements.
sebelum mengalihkannya ke pelanggan.
Pendapatan dari usaha kelistrikan Revenue from power business
Grup bergerak dalam penyediaan jasa The Group is engaged in providing operation
operasi dan pemeliharaan terutama kepada and maintenance services mainly to PT
PT Perusahaan Listrik Negara (Persero) dan Perusahaan Listrik Negara (Persero) and its
entitas anak tertentu PLN. certain subsidiaries.
Akuntansi untuk pengakuan pendapatan atas Accounting for revenue recognition of the
perjanjian penyediaan jasa listrik kepada PLN power purchase agreement with PLN for
atas komponen investasi diperlakukan sebagai investment component are accounted as lease
transaksi sewa atau konsesi jasa tergantung or service concession depends on the features
kepada fitur-fitur yang ada di dalam perjanjian on the power purchase agreements.
penyediaan jasa listrik.
Sewa Leases
Pendapatan dari penyerahan tenaga listrik Revenue from delivery of electric power to the
kepada pelanggan untuk komponen investasi customer to the extent of the investment
dari transaksi pendapatan diperhitungkan component of the revenue transaction is
sebagai transaksi sewa pembiayaan dimana accounted for as finance lease transaction
Grup adalah lessor dan PT PLN (Persero) dan whereby the Company is the lessor and PT
PT PLN Batam adalah lessee. Pendapatan PLN (Persero) and PT PLN Batam is the
yang berkaitan dengan komponen lain dari lessee. Revenue related to the other
harga tenaga listrik yang dikirimkan yang components of the price of electric power
memulihkan beban pembelian gas, biaya delivered that recovers the cost of gas, the
operasi dan perawatan pembangkit listrik operation and maintenance costs of the power
diakui sebagai pendapatan penjualan pada plant are recognized as sales revenue upon
saat penyerahan tenaga listrik ke pelanggan. delivery of electric power to customer.
Jasa Konsesi Service concession
Pendapatan konstruksi dari konsesi jasa Construction revenue from service concession
diakui sepanjang waktu konstruksi. Untuk is recognized over the construction time. For
kontrak yang memenuhi kriteria pengakuan contracts that meet the over time revenue
pendapatan sepanjang waktu, kinerja Grup recognition criteria, the Group’s performance
diukur dengan menggunakan metode input, is measured using an input method, by
dengan acuan terhadap biaya yang reference to the costs incurred to the
dikeluarkan untuk memenuhi kewajiban satisfaction of a performance obligation
pelaksanaan secara relatif terhadap total input relative to the total expected inputs to the
yang diharapkan untuk memenuhi kewajiban satisfaction of the performance obligation.
pelaksanaan tersebut.
Pendapatan bunga dari perjanjian konsesi Finance income from service concession
jasa merupakan pendapatan bunga atas aset arrangement represents interest income on
keuangan konsesi. Pendapatan bunga diakui the concession financial assets. The interest
dengan menggunakan metode bunga efektif. income is recognized using the effective
interest method.
Operasi dan pemeliharaan Operation and maintenance
Pendapatan dari operasi dan pemeliharaan, Revenue from operations and maintenance,
dan jasa lainnya diakui pada saat jasa and other services is recognized when
diberikan. services is rendered.
25
Page 175
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 173
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
i. Pengakuan Pendapatan dan Beban i. Revenue and Expense Recognition
(lanjutan) (continued)
Saldo kontrak Contract balances
• Aset kontrak • Contract assets
Aset kontrak adalah hak untuk mendapatkan A contract asset is the right to consideration
imbalan dalam pertukaran jasa yang in exchange for services transferred to the
dialihkan kepada pelanggan. Jika Grup customer. If the Group performs by
melaksanakan transfer jasa kepada transferring services to a customer before
pelanggan sebelum pelanggan membayar the customer pays consideration or before
imbalan atau sebelum pembayaran jatuh payment is due, a contract asset is
tempo, aset kontrak diakui untuk imbalan recognized for the earned consideration that
yang diperoleh yang bersyarat. is conditional.
• Piutang usaha • Trade receivables
Piutang merupakan hak Grup atas sejumlah A receivables represents the Group’s right to
imbalan tidak bersyarat (yaitu, hanya an amount of consideration that is
berlalunya waktu yang diperlukan sebelum unconditional (i.e., only the passage of time
pembayaran imbalan jatuh tempo). is required before payment of the
consideration is due).
• Liabilitas kontrak • Contract liabilities
Jika pelanggan membayar imbalan sebelum If a customer pays consideration before the
Grup mentransfer barang kepada Group transfers goods to the customer, a
pelanggan, liabilitas kontrak diakui pada saat contract liability is recognized when the
pembayaran dilakukan atau pembayaran payment is made or the payment is due
jatuh tempo (mana yang lebih awal). (whichever is earlier). Contract liabilities are
Liabilitas kontrak diakui sebagai pendapatan recognized as revenue when the Group
pada saat Grup melakukan kewajiban performs under the contract.
pelaksanaan berdasarkan kontrak.
Beban Expenses
Beban diakui pada saat terjadinya (metode Expenses are recognized when incurred
akrual). (accrual method).
j. Instrumen Keuangan j. Financial Instruments
Instrumen keuangan adalah setiap kontrak A financial instrument is any contract that
yang memberikan aset keuangan bagi satu gives rise to a financial asset of one entity and
entitas dan liabilitas keuangan atau ekuitas a financial liability or equity instrument of
bagi entitas lain. another entity.
26
Page 176
2025 Management Business Company Corporate Sustainability
174 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan Financial Assets
Pengakuan dan pengukuran awal Initial recognition and measurement
Aset keuangan diklasifikasikan, pada saat Financial assets are classified, at initial
pengakuan awal, yang selanjutnya diukur recognition, as subsequently measured at
pada biaya perolehan diamortisasi, nilai wajar amortized cost, fair value through other
melalui penghasilan komprehensif lain (“OCI”), comprehensive income (“OCI”), and fair value
dan nilai wajar melalui laba rugi. through profit or loss.
Klasifikasi aset keuangan pada pengakuan The classification of financial assets at initial
awal tergantung pada karakteristik arus kas recognition depends on the financial asset’s
kontraktual aset keuangan dan model bisnis contractual cash flow characteristics and the
Grup untuk mengelolanya. Dengan Group’s business model for managing them.
pengecualian piutang usaha yang tidak With the exception of trade receivables that do
mengandung komponen pembiayaan yang not contain a significant financing component
signifikan atau yang mana Grup telah or for which the Group has applied the
menerapkan panduan praktisnya, Grup pada practical expedient, the Group initially
awalnya mengukur aset keuangan pada nilai measures a financial asset at its fair value
wajarnya ditambah, dalam hal aset keuangan plus, in the case of a financial asset not at fair
tidak diukur pada nilai wajar melalui laba rugi, value through profit or loss, transaction costs.
biaya transaksi. Piutang usaha yang tidak Trade receivables that do not contain a
mengandung komponen pembiayaan yang significant financing component or for which
signifikan atau yang mana Grup telah the Group has applied the practical expedient
menerapkan panduan praktis diukur pada are measured at the transaction price
harga transaksi yang ditentukan berdasarkan determined under PSAK 115: Revenue from
PSAK 115: Pendapatan dari kontrak dengan Contracts with Customers.
pelanggan.
Agar aset keuangan dapat diklasifikasikan dan In order for a financial asset to be classified
diukur pada biaya perolehan diamortisasi atau and measured at amortized cost or fair value
nilai wajar melalui OCI, aset keuangan through OCI, it needs to give rise to cash flows
tersebut perlu menghasilkan arus kas yang that are ‘solely payments of principal and
‘semata-mata dari pembayaran pokok dan interest (“SPPI”)’ on the principal amount
bunga (“SPPI”) dari jumlah pokok terutang. outstanding. This assessment is referred to as
Penilaian ini disebut sebagai pengujian SPPI the SPPI test and is performed at an
dan dilakukan pada tingkat instrumen. Aset instrument level. Financial assets with cash
keuangan dengan arus kas yang bukan SPPI flows that are not SPPI are classified and
diklasifikasikan dan diukur pada nilai wajar measured at fair value through profit or loss,
melalui laba rugi, terlepas dari model irrespective of the business model.
bisnisnya.
Aset keuangan yang diklasifikasikan dan Financial assets classified and measured at
diukur pada biaya perolehan diamortisasi amortized cost are held within a business
dikelola dalam model bisnis yang tujuannya model with the objective to hold financial
adalah memiliki aset keuangan untuk assets in order to collect contractual cash
memperoleh arus kas kontraktual sementara flows while financial assets classified and
aset keuangan yang diklasifikasikan dan measured at fair value through OCI are held
diukur pada nilai wajar melalui OCI dikelola within a business model with the objective to
dalam model bisnis yang tujuannya adalah collect contractual cash flows and sell the
untuk memperoleh arus kas kontraktual dan financial assets.
menjual aset keuangan.
Pembelian atau penjualan aset keuangan Purchases or sales of financial assets that
yang mensyaratkan penyerahan aset dalam require delivery of assets within a time frame
kurun waktu yang ditetapkan oleh peraturan established by regulation or convention in the
atau kebiasaan yang berlaku di pasar market place (regular way trades) are
(pembelian yang lazim/reguler) diakui pada recognized on the trade date, i.e., the date that
tanggal perdagangan, yaitu tanggal Grup the Group commits to purchase or sell the
berkomitmen untuk membeli atau menjual aset assets.
tersebut.
Model bisnis Grup untuk mengelola aset The Group’s business model for managing
keuangan mengacu pada bagaimana Grup financial assets refers to how it manages its
mengelola aset keuangannya untuk financial assets in order to generate cash
menghasilkan arus kas. Model bisnis flows. The business model determines
menentukan apakah arus kas akan dihasilkan whether cash flows will result from collecting
dari pengumpulan arus kas kontraktual, contractual cash flows, selling the financial
penjualan aset keuangan, atau keduanya. assets, or both.
27
Page 177
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 175
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Untuk tujuan pengukuran selanjutnya, aset For purposes of subsequent measurement,
keuangan diklasifikasikan dalam empat financial assets are classified in four
kategori: categories:
• Aset keuangan pada biaya perolehan • Financial assets at amortized cost (debt
diamortisasi (instrumen utang); instruments);
• Aset keuangan pada nilai wajar melalui • Financial asset at fair value through OCI
OCI dengan daur ulang keuntungan dan with recycling of cumulative gains and
kerugian kumulatif setelah penghentian losses (debt instrument);
pengakuan (instrumen utang); • Financial assets at fair value through OCI
• Aset keuangan pada nilai wajar melalui with no recycling of cumulative gains and
OCI dengan daur ulang keuntungan dan losses upon derecognition (equity
kerugian kumulatif (instrumen utang); instruments);
• Aset keuangan pada nilai wajar melalui • Fair value through profit or loss (FVTPL).
laba rugi.
Aset keuangan pada biaya perolehan Financial assets at amortized cost (debt
diamortisasi (instrumen utang) instruments)
Grup mengukur aset keuangan pada biaya The Group measures financial assets at
perolehan diamortisasi jika kedua kondisi amortized cost if both of the following
berikut ini terpenuhi: conditions are met:
i. Aset keuangan tersebut dikelola dalam i. The financial asset is held within a
model bisnis yang bertujuan untuk business model with the objective to hold
memiliki aset keuangan dalam rangka financial assets in order to collect
memperoleh arus kas kontraktual, dan contractual cash flows, and
ii. Persyaratan kontraktual dari aset ii. The contractual terms of the financial
keuangan yang pada tanggal tertentu asset give rise on specified dates to cash
menimbulkan arus kas yang merupakan flows that are SPPI on the principal
SPPI dari jumlah pokok terutang. amount outstanding.
Aset keuangan pada biaya perolehan Financial assets at amortized cost are
diamortisasi selanjutnya diukur dengan subsequently measured using the effective
menggunakan suku bunga efektif (“SBE”) dan interest rate (“EIR”) method and are subject to
menjadi subjek penurunan nilai. Keuntungan impairment. Gains and losses are recognized
dan kerugian diakui dalam laba rugi pada saat in profit or loss when the financial asset is
aset keuangan dihentikan pengakuannya, derecognized, modified or impaired.
dimodifikasi atau mengalami penurunan nilai.
Aset keuangan Grup yang diukur pada biaya The Group’s financial assets at amortized cost
perolehan diamortisasi termasuk kas dan includes cash and cash equivalents, trade
setara kas, piutang usaha, piutang sewa receivables, finance lease receivables, other
pembiayaan, piutang lain-lain, rekening bank receivables, restricted cash in banks and time
dan deposito berjangka yang dibatasi deposits and concession financial assets.
penggunaannya dan aset keuangan konsesi.
Aset keuangan yang ditetapkan pada nilai Financial assets designated at fair value
wajar melalui OCI (instrumen ekuitas) through OCI (equity instruments)
Setelah pengakuan awal, Grup dapat Upon initial recognition, the Group can elect to
membuat pilihan yang tidak dapat dibatalkan classify irrevocably its equity investments as
untuk mengklasifikasikan investasi ekuitasnya equity instruments designated at fair value
sebagai instrumen ekuitas yang ditetapkan through OCI when they meet the definition of
pada nilai wajar melalui OCI jika definisi equity under PSAK 232: Financial Instruments:
ekuitas berdasarkan PSAK 232: Instrumen Presentation and are not held for trading. The
Keuangan: Penyajian dipenuhi dan tidak classification is determined on an instrument-
dimiliki untuk diperdagangkan. Klasifikasi by-instrument basis.
ditentukan berdasarkan instrumen per
instrumen.
28
Page 178
2025 Management Business Company Corporate Sustainability
176 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Aset keuangan yang ditetapkan pada nilai Financial assets designated at fair value
wajar melalui OCI (instrumen ekuitas) through OCI (equity instruments)
(lanjutan) (continued)
Keuntungan dan kerugian dari aset keuangan Gains and losses on these financial assets are
ini tidak pernah didaur ulang ke laba rugi. never recycled to profit or loss. Dividends are
Dividen diakui sebagai pendapatan lain-lain recognized as other income in the statement
dalam laporan laba rugi pada saat hak of profit or loss when the right of payment has
pembayaran telah ditetapkan, kecuali jika been established, except when the Group
Grup mendapatkan manfaat dari hasil tersebut benefits from such proceeds as a recovery of
sebagai pemulihan sebagian biaya perolehan part of the cost of the financial asset, in which
aset keuangan, dalam hal ini, keuntungan case, such gains are recorded in OCI. Equity
tersebut akan dicatat di OCI. Instrumen instruments designated at fair value through
ekuitas yang ditetapkan pada nilai wajar OCI are not subject to impairment
melalui OCI tidak tunduk pada evaluasi assessment.
penurunan nilai.
Grup membuat pilihan yang tidak dapat The Group elected to classify irrevocably its
dibatalkan untuk mengklasifikasikan investasi non-listed equity investments under this
ekuitas yang tidak diperdagangkan tertentu category.
dalam kategori ini.
Aset keuangan pada nilai wajar melalui Financial assets at fair value through profit
laba rugi or loss
Aset keuangan pada nilai wajar melalui laba Financial assets at fair value through profit or
rugi termasuk aset keuangan yang dimiliki loss include financial assets held for trading,
untuk diperdagangkan, aset keuangan yang financial assets designated upon initial
ditetapkan pada pengakuan awal pada nilai recognition at fair value through profit or loss,
wajar melalui laba rugi, atau aset keuangan or financial assets mandatorily required to be
yang wajib diukur pada nilai wajar. Aset measured at fair value. Financial assets are
keuangan diklasifikasikan sebagai kelompok classified as held for trading if they are
diperdagangkan jika mereka diperoleh untuk acquired for the purpose of selling or
tujuan dijual atau dibeli kembali dalam waktu repurchasing in the near term. Derivatives,
dekat. Derivatif, termasuk derivatif melekat including separated embedded derivatives, are
yang dipisahkan, juga diklasifikasikan sebagai also classified as held for trading unless they
dimiliki untuk diperdagangkan kecuali jika are designated as effective hedging
ditetapkan sebagai instrumen lindung nilai instruments.
yang efektif.
Aset keuangan dengan arus kas yang tidak Financial assets with cash flows that are not
semata-mata pembayaran pokok dan bunga solely payments of principal and interest are
diklasifikasikan dan diukur pada nilai wajar classified and measured at fair value through
melalui laba rugi, terlepas dari model profit or loss, irrespective of the business
bisnisnya. Terlepas dari kriteria untuk model. Notwithstanding the criteria for debt
instrumen utang yang akan diklasifikasikan instruments to be classified at amortized cost
pada biaya perolehan diamortisasi atau pada or at fair value through OCI, as described
nilai wajar melalui OCI, seperti dijelaskan di above, debt instruments may be designated at
atas, instrumen utang dapat ditetapkan pada fair value through profit or loss on initial
nilai wajar melalui laba rugi pada pengakuan recognition if doing so eliminates, or
awal jika hal tersebut menghilangkan, atau significantly reduces, an accounting mismatch.
secara signifikan mengurangi, ketidaksesuaian
akuntansi.
29
Page 179
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 177
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Aset keuangan pada nilai wajar melalui Financial assets at fair value through profit
laba rugi (lanjutan) or loss (continued)
Aset keuangan yang diukur pada nilai wajar Financial assets at fair value through profit or
melalui laba rugi dicatat dalam laporan posisi loss are carried in the consolidated statement
keuangan konsolidasian pada nilai wajar of financial position at fair value with net
dengan perubahan nilai wajar neto diakui changes in fair value recognized in the
dalam laporan laba rugi dan penghasilan consolidated statement of profit or loss and
komprehensif lain konsolidasian. other comprehensive income.
Kategori ini mencakup instrumen derivatif dan This category includes derivative instruments
investasi ekuitas yang tidak diperdagangkan di that are not designated as hedging
mana Grup tidak membuat pilihan yang tidak instruments in hedge relationship as define in
dapat dibatalkan untuk diklasifikasikan pada PSAK 109: Financial Instruments. Group had
nilai wajar melalui OCI. Dividen atas investasi not irrevocably elected to classify at fair value
ekuitas Perusahaan tercatat juga diakui through OCI. Dividends on listed equity
sebagai pendapatan lain-lain dalam laba rugi investments are also recognized as other
pada saat hak pembayaran telah ditetapkan. income in the profit or loss when the right of
payment has been established.
Derivatif yang melekat dalam kontrak hibrida, A derivative embedded in a hybrid contract,
dengan liabilitas keuangan atau kontrak utama with a financial liability or non-financial host, is
non-keuangan, dipisahkan dari host dan separated from the host and accounted for as
dicatat sebagai derivatif terpisah jika: a separate derivative if: the economic
karakteristik dan risiko ekonomi tidak terkait characteristics and risks are not closely related
erat dengan kontrak utama; instrumen terpisah to the host; a separate instrument with the
dengan persyaratan yang sama seperti same terms as the embedded derivative would
derivatif melekat akan memenuhi definisi meet the definition of a derivative; and the
derivatif; dan kontrak hibrida tidak diukur pada hybrid contract is not measured at fair value
nilai wajar melalui laba rugi. through profit or loss.
Derivatif melekat diukur pada nilai wajar Embedded derivatives are measured at fair
dengan perubahan nilai wajar diakui dalam value with changes in fair value recognized in
laba rugi. Penilaian ulang hanya terjadi jika profit or loss. Reassessment only occurs if
terdapat perubahan dalam persyaratan there is either a change in the terms of the
kontrak yang secara signifikan mengubah arus contract that significantly modifies the cash
kas yang seharusnya diperlukan atau flows that would otherwise be required or a
reklasifikasi aset keuangan keluar dari reclassification of a financial asset out of the
kategori nilai wajar melalui laba rugi. fair value through profit or loss category.
Derivatif yang melekat dalam kontrak hibrida A derivative embedded within a hybrid contract
yang mengandung aset keuangan utama tidak containing a financial asset host is not
dicatat secara terpisah. Aset keuangan utama accounted for separately. The financial asset
bersama dengan derivatif melekat harus host together with the embedded derivative is
diklasifikasikan secara keseluruhan sebagai required to be classified in its entirety as a
aset keuangan yang diukur pada nilai wajar financial asset at fair value through profit or
melalui laba rugi. loss.
30
Page 180
2025 Management Business Company Corporate Sustainability
178 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Penghentian pengakuan Derecognition
Penghentian pengakuan atas suatu aset A financial asset, or where applicable, a part of
keuangan, atau, bila dapat diterapkan untuk a financial asset or part of a group of similar
bagian dari aset keuangan atau bagian dari financial assets, is derecognized when:
kelompok aset keuangan serupa, terjadi
apabila:
i. Hak kontraktual atas arus kas yang i. The contractual rights to receive the cash
berasal dari aset keuangan tersebut flows from these assets have ceased to
berakhir atau aset telah dialihkan; exist or the assets have been transferred;
ii. Grup telah mengalihkan hak untuk ii. The Group has transferred its rights to
menerima arus kas yang berasal dari receive cash flows from the asset or has
aset keuangan tersebut atau assumed an obligation to pay the
menanggung kewajiban untuk membayar received cash flows in full without
arus kas yang diterima tersebut tanpa material delay to a third party under a
penundaan yang signifikan terhadap “pass-through” arrangement, and either
pihak ketiga melalui suatu kesepakatan (a) the Group has transferred
penyerahan dan (a) Grup secara substantially all the risk and rewards of
substansial mengalihkan seluruh risiko the financial assets, or (b) the Group has
dan manfaat atas kepemilikan aset neither transferred nor retained
keuangan tersebut, atau (b) Grup secara substantially all the risk and rewards of
substansial tidak mengalihkan maupun the financial assets, but has transferred
tidak mempertahankan seluruh risiko dan control of the financial asset.
manfaat atas kepemilikan aset keuangan
tersebut, namun telah mengalihkan
pengendalian atas aset keuangan
tersebut.
Ketika Grup telah mengalihkan haknya untuk When the Group has transferred its rights to
menerima arus kas dari aset atau telah receive cash flows from an asset or has
menandatangani perjanjian pass-through, entered into a pass-through arrangement, it
Grup mengevaluasi apakah, dan sejauh mana, evaluates if, and to what extent, it has retained
telah mempertahankan risiko dan manfaat the risks and rewards of ownership. When it
kepemilikan. Ketika Grup tidak mengalihkan has neither transferred nor retained
atau mempertahankan secara substansial substantially all of the risks and rewards of the
seluruh risiko dan manfaat dari aset, atau asset, nor transferred control of the asset, the
mengalihkan pengendalian atas aset, Grup Group continues to recognize the transferred
terus mengakui aset yang dialihkan tersebut asset to the extent of its continuing
sejauh keterlibatannya secara berkelanjutan. involvement. In that case, the Group also
Dalam kasus tersebut, Grup juga mengakui recognizes an associated liability. The
liabilitas terkait. Aset alihan dan liabilitas transferred asset and the associated liability
terkait diukur atas dasar yang mencerminkan are measured on a basis that reflects the
hak dan kewajiban yang dimiliki Grup. rights and obligations that the Group has
retained.
Keterlibatan berkelanjutan yang berbentuk Continuing involvement that takes the form of
pemberian jaminan atas aset alihan diukur a guarantee over the transferred asset is
sebesar jumlah yang lebih rendah antara measured at the lower of the original carrying
jumlah tercatat aset alihan dan jumlah amount of the asset and the maximum amount
maksimal imbalan yang mungkin harus of consideration received that the Group could
dibayar kembali oleh Grup. be required to repay.
31
Page 181
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 179
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Penurunan nilai Impairment
Grup mengakui penyisihan untuk kerugian The Group recognizes an allowance for
kredit ekspektasian ("ECL") untuk seluruh expected credit losses (“ECL”) for all debt
instrumen utang yang tidak dimiliki pada nilai instruments not held at fair value through profit
wajar melalui laba rugi. ECL didasarkan pada or loss. ECL are based on the difference
selisih antara arus kas kontraktual yang jatuh between the contractual cash flows due in
tempo sesuai dengan kontrak dan seluruh accordance with the contract and all the cash
arus kas yang diperkirakan akan diterima flows that the Group expects to receive,
Grup, didiskontokan dengan SBE awal. Arus discounted at an approximation of the original
kas ekspektasian akan mencakup arus kas EIR. The expected cash flows will include cash
dari penjualan agunan yang dimiliki atau flows from the sale of collateral held or other
perbaikan risiko-kredit lain yang merupakan credit enhancements that are integral to the
bagian dari persyaratan kontraktual. contractual terms.
ECL diakui dalam dua tahap. Untuk eksposur ECLs are recognized in two stages. For credit
kredit yang belum ada peningkatan risiko exposures for which there has not been a
kredit yang signifikan sejak pengakuan awal, significant increase in credit risk since initial
ECL dilakukan untuk kerugian kredit yang recognition, ECL are provided for credit losses
diakibatkan oleh peristiwa gagal bayar yang that result from default events that are
mungkin terjadi dalam 12 bulan ke depan possible within the next 12-months (a 12-
(ECL 12 bulan). Untuk eksposur kredit yang month ECL). For those credit exposures for
telah terjadi peningkatan risiko kredit yang which there has been a significant increase in
signifikan sejak pengakuan awal, penyisihan credit risk since initial recognition, a loss
kerugian dilakukan untuk kerugian kredit yang allowance is required for credit losses
diperkirakan selama sisa umur eksposur, expected over the remaining life of the
terlepas dari waktu gagal bayar (ECL exposure, irrespective of the timing of the
sepanjang umur). default (a lifetime ECL).
Untuk piutang usaha, piutang lainnya dan aset For trade and other receivables and other
keuangan lainnya yang diukur pada biaya financial assets measured at amortized costs,
perolehan diamortisasi, Grup menerapkan the Group applies a simplified approach in
pendekatan yang disederhanakan dalam calculating ECL. Therefore, the Group does
menghitung ECL. Oleh karena itu, Grup tidak not track changes in credit risk, but instead
menelusuri perubahan dalam risiko kredit, recognizes a loss allowance based on lifetime
tetapi mengakui penyisihan kerugian ECL at each reporting date, adjusted for
berdasarkan ECL sepanjang umur pada setiap forward-looking factors specific to the debtors
tanggal pelaporan, disesuaikan dengan faktor- and the economic environment.
faktor perkiraan masa depan yang spesifik
bagi debitur dan lingkungan ekonomi.
Grup menganggap aset keuangan gagal bayar The Group considers a financial asset in
ketika pembayaran kontraktual telah lewat 90 default when contractual payments are 90
hari. Namun, dalam kasus tertentu, Grup juga days past due. However, in certain cases, the
dapat mempertimbangkan aset keuangan Group may also consider a financial asset to
mengalami gagal bayar ketika informasi be in default when internal or external
internal atau eksternal menunjukkan bahwa information indicates that the Group is unlikely
Grup tidak mungkin menerima jumlah to receive the outstanding contractual amounts
kontraktual yang terutang secara penuh in full before taking into account any credit
sebelum memperhitungkan setiap perbaikan enhancements held by the Group. A financial
risiko-kredit yang dimiliki oleh Grup. Aset asset is written off when there is no
keuangan dihapuskan jika tidak ada reasonable expectation of recovering the
ekspektasi yang wajar untuk memulihkan arus contractual cash flows.
kas kontraktual.
32
Page 182
2025 Management Business Company Corporate Sustainability
180 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan Financial Liabilities
Pengakuan dan pengukuran awal Initial recognition and measurement
Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified at initial
liabilitas keuangan yang diukur pada nilai recognition, as financial liabilities at fair value
wajar melalui laba rugi dan liabilitas keuangan through profit or loss, loans and borrowings, or
lainnya. Grup menetapkan klasifikasi atas as derivatives designated as hedging
liabilitas keuangan pada saat pengakuan awal. instruments in an effective hedge, as
appropriate The Group .
Liabilitas keuangan pada awalnya diukur pada Financial liabilities are recognized initially at
nilai wajar dan, dalam hal pinjaman dan utang, fair value and, in the case of loans and
ditambah biaya transaksi yang dapat borrowings, inclusive of directly attributable
diatribusikan secara langsung. transaction costs.
Liabilitas keuangan Grup meliputi utang usaha The Group’s financial liabilities include trade
dan utang lain-lain, beban akrual, utang and other payables, accrued expenses, due to
kepada pihak berelasi, pinjaman jangka related parties, long-term debts, other long-
panjang, pinjaman jangka panjang lainnya, term debt, lease liabilities and short-term bank
liabilitas sewa dan utang bank jangka pendek. loan.
Pengakuan setelah pengakuan awal Subsequent measurement
Pengukuran selanjutnya dari liabilitas The measurement of financial liabilities
keuangan ditentukan oleh klasifikasinya depends on their classification as described
sebagai berikut: below:
Utang dan pinjaman Loans and borrowings
(i) Utang dan pinjaman jangka panjang (i) Long-term interest-bearing loans
yang dikenakan bunga borrowings
Ini adalah kategori yang paling relevan This is the category most relevant to the
dengan Grup. Setelah pengakuan awal, Group. After initial recognition, long-term
utang dan pinjaman berbunga jangka interest-bearing loans and borrowings
panjang diukur dengan biaya perolehan are measured at amortized acquisition
diamortisasi dengan menggunakan costs using EIR method. Gains and
metode SBE. Keuntungan dan kerugian losses are recognized in the profit or loss
diakui dalam laba rugi pada saat liabilitas when the liabilities are derecognized as
dihentikan pengakuannya dan juga well as through the EIR amortization
melalui proses amortisasi SBE. process.
Biaya perolehan diamortisasi dihitung Amortized cost is calculated by taking
dengan mempertimbangkan setiap into account any discount or premium on
diskonto atau premium atas perolehan acquisition and fee or costs that are an
dan komisi atau biaya yang merupakan integral part of the EIR. The EIR
bagian tidak terpisahkan dari SBE. amortization is included in finance costs
Amortisasi SBE dicatat sebagai beban in the profit or loss.
keuangan pada laba rugi.
Kategori ini umumnya berlaku untuk This category generally applies to
utang dan pinjaman berbunga. Untuk interest-bearing loans and borrowings.
informasi lebih lanjut, lihat Catatan 25 For more information, refer to Note 25
dan 26. and 26.
(ii) Utang dan akrual (ii) Payables and accruals
Liabilitas untuk utang usaha dan utang Liabilities for current trade and other
lain-lain, biaya masih harus dibayar dan payables, accrued expenses and due to
utang kepada pihak berelasi dinyatakan related parties are stated at carrying
sebesar jumlah tercatat (jumlah amounts (notional amounts), which
nosional), yang kurang lebih sebesar nilai approximate their fair values.
wajarnya.
33
Page 183
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 181
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan (lanjutan) Financial Liabilities (continued)
Liabilitas keuangan yang diukur pada nilai Financial liabilities at fair value through profit
wajar melalui laba rugi or loss
Liabilitas keuangan yang diukur pada nilai Financial liabilities at fair value through profit
wajar melalui laba rugi termasuk liabilitas or loss include financial liabilities held for
keuangan yang dimiliki untuk diperdagangkan trading and financial liabilities designated upon
dan liabilitas keuangan yang ditetapkan pada initial recognition as at fair value through profit
pengakuan awal sebagai nilai wajar melalui or loss.
laba rugi.
Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as held for
kelompok diperdagangkan jika mereka terjadi trading if they are incurred for the purpose of
untuk tujuan pembelian kembali dalam waktu repurchasing in the near term. This category
dekat. Kategori ini juga mencakup instrumen also includes derivative financial instruments
keuangan derivatif yang dimasukkan oleh entered into by the Group that are not
Grup yang tidak ditujukan sebagai instrumen designated as hedging instruments in hedge
lindung nilai dalam hubungan lindung nilai relationships as defined by PSAK 109.
sebagaimana didefinisikan dalam PSAK 109. Separated embedded derivatives are also
Derivatif melekat yang dipisahkan juga classified as held for trading unless they are
diklasifikasikan sebagai kelompok designated as effective hedging instruments.
diperdagangkan kecuali ditetapkan sebagai
instrumen lindung nilai yang efektif.
Keuntungan atau kerugian atas liabilitas yang Gains or losses on liabilities held for trading
dimiliki untuk diperdagangkan diakui dalam are recognized in profit or loss.
laba rugi.
Liabilitas keuangan yang ditetapkan pada Financial liabilities designated upon initial
pengakuan awal pada nilai wajar melalui laba recognition at fair value through profit or loss
rugi ditetapkan pada tanggal awal pengakuan, are designated at the initial date of recognition,
dan hanya jika kriteria dalam PSAK 109 and only if the criteria in PSAK 109 are
terpenuhi. Instrumen derivatif Grup satisfied. The Group derivative financial
diklasifikasikan dalam kategori ini. instruments are classified under this category.
Penghentian pengakuan Derecognition
Liabilitas keuangan dihentikan pengakuannya A financial liability is derecognized when the
ketika liabilitas yang ditetapkan dalam kontrak the obligation specified in the contract is
dihentikan atau dibatalkan atau kadaluwarsa. discharged or cancelled or has expired.
Ketika kewajiban keuangan yang ada When an existing financial liability is replaced
digantikan oleh yang lain dari pemberi by another from the same lender on
pinjaman yang sama dengan persyaratan substantially different terms, or the terms of an
yang secara substansial berbeda, atau existing liability are substantially modified,
persyaratan dari kewajiban yang ada secara such an exchange or modification is treated as
substansial dimodifikasi, pertukaran atau the derecognition of the original liability and
modifikasi tersebut diperlakukan sebagai the recognition of a new liability. The
penghentian pengakuan kewajiban awal dan difference in the respective carrying amounts
pengakuan kewajiban baru. Selisih nilai is recognized in the consolidated statement of
tercatat masing-masing diakui pada laporan profit or loss and other comprehensive
laba rugi dan penghasilan komprehensif lain income.
konsolidasian.
Saling hapus instrumen keuangan Offsetting financial instruments
Aset keuangan dan liabilitas keuangan Financial assets and liabilities are offset and
disalinghapuskan dan jumlah netonya the net amount is reported in the consolidated
dilaporkan pada laporan posisi keuangan statement of financial position when there is a
konsolidasian ketika terdapat hak yang legally enforceable right to offset the
berkekuatan hukum untuk melakukan saling recognized amounts and there is an intention
hapus atas jumlah yang telah diakui tersebut to settle on a net basis, or realise the asset
dan adanya niat untuk menyelesaikan secara and settle the liability simultaneously.
neto, atau untuk merealisasikan aset dan
menyelesaikan liabilitas secara bersamaan.
34
Page 184
2025 Management Business Company Corporate Sustainability
182 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan (lanjutan) Financial Liabilities (continued)
Instrumen Keuangan Derivatif dan Akuntansi Derivative Financial Instruments and Hedge
Lindung Nilai Accounting
Grup menggunakan instrumen keuangan The Group uses derivative financial
derivatif seperti swap tingkat suku bunga dan instruments such as interest rate swaps and
swap antar mata uang untuk melakukan cross-currency swaps to hedge its foreign
lindung nilai atas risiko mata uang asing dan currency risks and interest rate risks. Such
risiko tingkat suku bunganya. Instrumen derivative financial instruments are initially
keuangan derivatif tersebut pada awalnya recognized at fair value on the date on which a
diakui sebesar nilai wajar pada tanggal derivative contract is entered into and are
kontrak derivatif dimulai dan selanjutnya subsequently remeasured at fair value.
diukur kembali pada nilai wajar. Derivatif Derivatives are carried as financial assets
dicatat sebagai aset keuangan saat nilai when the fair value is positive and as financial
wajarnya positif dan sebagai liabilitas liabilities when the fair value is negative.
keuangan saat nilai wajarnya negatif.
Grup menerapkan akuntansi lindung nilai atas The Group applies hedge accounting to
transaksi lindung nilai yang memenuhi kriteria hedging transactions that meet the criteria for
akuntansi lindung nilai. hedge accounting.
Untuk tujuan akuntansi lindung nilai, lindung For the purpose of hedge accounting, hedges
nilai diklasifikasikan sebagai lindung nilai atas are classified as fair value hedge, cash flow
nilai wajar, lindung nilai atas arus kas dan hedge and hedge of a net investment in a
lindung nilai atas investasi neto dalam foreign operation.
kegiatan usaha luar negeri.
Pada awal hubungan lindung nilai, Grup At the inception of a hedge relationship, the
merancang dan mendokumentasikan Group formally designates and documents the
hubungan lindung nilai yang diinginkannya hedge relationship to which it wishes to apply
untuk menerapkan akuntansi lindung nilai hedge accounting, the risk management
secara formal, tujuan dan strategi manajemen objective and strategy for undertaking the
risiko untuk melakukan lindung nilai. hedge.
Dokumentasi tersebut mencakup identifikasi The documentation includes identification of
instrumen lindung nilai, item lindung nilai, sifat the hedging instrument the hedged item, the
risiko yang dilindungi nilai dan bagaimana nature of the risk being hedged and how the
Grup akan menilai apakah hubungan lindung Group will assess whether the hedging
nilai tersebut memenuhi persyaratan relationship meets the hedge effectiveness
efektivitas lindung nilai (termasuk analisis requirements (including the analysis of
sumber ketidakefektifan lindung nilai. dan sources of hedge ineffectiveness and how the
bagaimana rasio lindung nilai ditentukan). hedge ratio is determined).
Hubungan lindung nilai memenuhi syarat A hedging relationship qualifies for hedge
untuk akuntansi lindung nilai jika memenuhi accounting if it meets all of the following
semua persyaratan efektivitas berikut: effectiveness requirements:
i. terdapat 'hubungan ekonomi' antara item i. there is ‘an economic relationship’
yang dilindung nilai dan instrumen between the hedged item and the
lindung nilai; hedging instrument;
ii. efek risiko kredit tidak 'mendominasi ii. the effect of credit risk does not
perubahan nilai yang dihasilkan dari ‘dominate the value changes’ that result
hubungan ekonomi itu; from that economic relationship;
iii. rasio lindung nilai dari hubungan lindung iii. the hedge ratio of the hedging
nilai adalah perbandingan` antara jumlah relationship is the comparison between
item yang dilindung nilai dan instrumen the quantity of hedged item and hedging
lindung nilai. instrument.
35
Page 185
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 183
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan (lanjutan) Financial Liabilities (continued)
Lindung nilai arus kas Cash flow hedge
Lindung nilai arus kas digunakan untuk Cash flow hedge is used to hedge the
lindung nilai terhadap eksposur variabilitas exposure to variability in cash flows that is
arus kas yang dapat diatribusikan pada risiko attributable to foreign currency risk or interest
mata uang asing atau risiko tingkat suku rate risk associated with a recognized asset or
bunga yang terkait dengan suatu aset atau liability.
liabilitas yang diakui.
Bagian efektif atas laba atau rugi instrumen The effective portion of the gain or loss on the
lindung nilai atas arus kas diakui langsung cash flow hedging instrument is recognized
pada pendapatan komprehensif lain, directly in other comprehensive income, while
sementara bagian yang tidak efektif diakui any ineffective portion is recognized
segera dalam laporan laba rugi. immediately in profit or loss.
Grup mempunyai kontrak swap tingkat suku The Group entered into interest rate swap and
bunga dan swap antar mata uang yang cross-currency swap contracts that are used to
digunakan sebagai lindung nilai atas eksposur hedge for the exposure to changes in cash
perubahan dalam arus kas sehubungan flows due to changes in foreign exchange
dengan perubahan nilai tukar mata uang rates.
asing.
Grup merancang hanya elemen spot dari The Group designates only the spot element
kontrak forward dan swap antar mata uang of the forward and cross-currency swap
sebagai instrumen lindung nilai. Unsur masa contracts as hedging instruments. The forward
depan dari kontrak forward dan swap antar element of forward and cross-currency swap
mata uang, serta komponen nilai waktu dari contracts as well as the time value component
opsi komoditas diakui dalam OCI dan of commodity options are recognised in OCI
diakumulasikan dalam komponen terpisah dari and accumulated in a separate component of
ekuitas sebagai bagian dari penyesuaian nilai equity under fair value adjustment on cash
wajar atas instrumen lindung nilai arus kas. flow hedging instruments. Because the
Karena lindung nilai arus kas Grup tidak Group’s cash flow hedges does not lead to the
menyebabkan pengakuan item-item non- recognition of non-financial items on balance
keuangan di neraca, jumlah yang terakumulasi sheet, the amount accumulated in OCI is
dalam OCI direklasifikasi ke laba rugi sebagai reclassified to profit or loss as a
penyesuaian reklasifikasi pada periode atau reclassification adjustment in the same period
periode yang sama di mana arus kas yang or periods during which the hedged cash flows
dilindung nilai memengaruhi laba atau affect profit or loss.
kerugian.
k. Persediaan k. Inventories
Persediaan dinyatakan sebesar nilai yang Inventories are stated at the lower of cost or
lebih rendah antara biaya perolehan atau nilai net realizable value. Cost is determined using
realisasi neto. Biaya perolehan ditentukan the weighted average method.
dengan metode rata-rata tertimbang.
l. Aset Keuangan Konsesi l. Concession Financial Assets
MRPR, MCG, dan MSBT menerapkan ISAK MRPR, MCG, and MSBT apply ISAK No. 112,
No. 112, "Perjanjian Konsesi Jasa". ISAK No. “Service Concession Arrangements”. ISAK
112 menetapkan kriteria pengendalian untuk No. 112 sets out the control criteria for
perjanjian konsesi: concession arrangements:
• Pemberi konsesi mengendalikan atau • The grantor controls or regulates the
meregulasi jasa apa yang harus services that the operator must provide
diberikan oleh operator dengan using the infrastructure, to whom it must
infrastruktur, kepada siapa jasa harus provide them, and at what price, and
diberikan dan berapa harganya, dan
• Pemberi konsesi mengendalikan atas • The grantor controls any significant
setiap kepentingan residu signifikan residual interest in the infrastructure at
dalam infrastruktur pada akhir masa the end of the concession term through
perjanjian melalui kepemilikan, hak ownership, beneficial entitlement or
manfaat, atau bentuk lain. otherwise.
36
Page 186
2025 Management Business Company Corporate Sustainability
184 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
l. Aset Keuangan Konsesi (lanjutan) l. Concession Financial Assets (continued)
Ciri umum adalah: The common features are:
• Pihak yang memberikan perjanjian jasa • The party granting the service
(pemberi konsesi) merupakan entitas arrangement (the grantor) is a public
sektor publik, termasuk badan sector entity, including a governmental
pemerintah, atau entitas sektor swasta body, or a private sector entity to which
yang telah diberikan tanggung jawab the responsibility for the service has been
atas jasa tersebut. devolved.
• Operator bertanggung jawab setidaknya • The operator is responsible for at least
untuk sebagian pengelolaan infrastruktur some of the management of the
dan jasa terkait dan tidak hanya infrastructure and related services and
bertindak sebagai agen untuk does not merely act as an agent on
kepentingan pemberi konsesi. behalf of the grantor.
• Kontrak menerapkan harga awal yang • The contract sets the initial prices to be
akan dikenakan oleh operator dan levied by the operator and regulates price
mengatur perubahan harga selama revisions over the period of the service
periode perjanjian jasa. arrangement.
• Operator diwajibkan untuk menyerahkan • The operator is obliged to hand over the
infrastruktur kepada pemberi konsesi infrastructure to the grantor in a specified
pada akhir periode perjanjian dalam condition at the end of the period of
kondisi yang telah ditentukan, dengan arrangement, for little or no incremental
sedikit atau tanpa imbalan tambahan, consideration, irrespective of which party
terlepas dari pihak yang awalnya initially financed it.
membiayai infrastruktur.
Karena Perjanjian Jual Beli Tenaga Listrik Since the Power Purchase Agreement (“PPA”)
(“PJBTL”) oleh MRPR, MCG, dan MSBT entered by MRPR, MCG, and MSBT have
mempunyai ciri umum perjanjian jasa dan common features of a concession
infrastruktur yang timbul dari kontrak tersebut arrangement and the infrastructure arising
dikendalikan oleh pemberi konsesi, kontrak from those contracts is controlled by the
tersebut dianggap sebagai perjanjian konsesi grantor, those contracts are considered
jasa. PJBTL memberikan jaminan ambil atau service concession arrangements. The PPA
bayar yang berarti bahwa operator memiliki provides take or pay guarantees which means
hak tak bersyarat untuk menerima kas atau the operator has an unconditional right to
aset keuangan lainnya dari pemberi konsesi. receive cash or another financial asset from
Oleh karena itu, MRPR, MCG, dan MSBT the grantor. As such, MRPR, MCG, and
menerapkan model aset keuangan untuk MSBT applied the financial asset model for its
perjanjian konsesi jasanya. service concession arrangement.
m. Aset Tetap m. Property, Plant and Equipment
Aset tetap, kecuali tanah dan hak atas tanah Property, plant and equipment, except land
yang dinyatakan sebesar biaya perolehan dan and landrights which are stated at cost and not
tidak disusutkan, dinyatakan sebesar biaya depreciated, which are stated at cost and
perolehan dikurangi akumulasi penyusutan notare stated at cost less accumulated
dan penurunan nilai. Biaya perolehan aset depreciation and impairment losses. Such cost
tetap termasuk biaya penggantian bagian dari includes the cost of replacing part of the
aset tetap pada saat terjadinya biaya, jika property, plant and equipment when that cost
kriteria pengakuannya terpenuhi. Demikian is incurred, if the recognition criteria are met.
pula, ketika pemeriksaan utama dilakukan, Likewise, when a major inspection is
biaya pemeriksaan diakui sebagai nilai tercatat performed, its cost is recognized in the
aset sebagai penggantian jika kriteria carrying amount of the property, plant and
pengakuan terpenuhi. Semua biaya perbaikan equipment as a replacement if the recognition
dan pemeliharaan lainnya yang tidak criteria are satisfied. All other repairs and
memenuhi kriteria pengakuan diakui pada maintenance costs that do not meet the
laporan laba rugi pada saat terjadinya. recognition criteria are recognized in profit or
loss as incurred.
37
Page 187
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 185
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
m. Aset Tetap (lanjutan) m. Property, Plant and Equipment (continued)
Penyusutan dihitung dengan menggunakan Depreciation is computed using the straight-
metode garis lurus berdasarkan estimasi masa line method based on the estimated useful
manfaat ekonomis aset sebagai berikut: lives of the assets as follows:
Tahun/
Years
Bangunan dan prasarana 20 Buildings and improvements
Mesin 15 - 25 Machinery
Peralatan panel kontrol 12 Control panel equipment
Peralatan komunikasi 5 Telecommunication equipment
Peralatan 4 Tools
Leasehold improvements 5 Leasehold improvements
Perabotan, perlengkapan dan peralatan Furniture, fixtures and office
kantor 4 equipment
Kendaraan bermotor 4 Motor vehicles
Jumlah tercatat aset tetap dihentikan An item of property, plant and equipment is
pengakuannya dari laporan posisi keuangan derecognized from the consolidated statement
konsolidasian pada saat dilepaskan atau saat of financial position upon disposal or when no
tidak ada manfaat ekonomis masa depan yang future economic benefits are expected from its
diharapkan dari penggunaan atau use or disposal. Any gain or loss arising on the
pelepasannya. Laba atau rugi yang timbul dari derecognition of the asset (calculated as the
penghentian pengakuan aset (dihitung difference between the net disposal proceeds
sebagai perbedaan antara jumlah neto hasil and the carrying amount of the asset) is
pelepasan dan jumlah tercatat dari aset) recognized to profit or loss in the year the
dimasukkan dalam laba rugi pada tahun aset asset is derecognized.
tersebut dihentikan pengakuannya.
Nilai residu, masa manfaat dan metode The assets’ residual values, useful lives and
penyusutan aset ditelaah dan disesuaikan method of depreciation are reviewed and
secara prospektif, pada setiap akhir tahun adjusted prospectively, if appropriate, at each
buku. financial year end.
Aset dalam penyelesaian disajikan dalam Construction in progress is stated at cost and
“Aset Tetap” dan dinyatakan sebesar biaya presented as part of “property, plant and
perolehan. Akumulasi biaya perolehan untuk equipment”. The accumulated costs are
aset dalam penyelesaian akan dipindahkan ke reclassified to the appropriate property, plant
masing-masing akun aset tetap yang and equipment account when construction is
bersangkutan pada saat aset tersebut selesai completed and the asset is ready for its
dikerjakan dan siap digunakan sesuai dengan intended use.
tujuannya.
n. Penurunan Nilai Aset Tetap dan Aset Tak n. Impairment of Property, Plant and
Berwujud Equipment and Intangible Assets
Grup menilai apakah terdapat indikasi suatu The Group assesses at each reporting date
aset mengalami penurunan nilai. Jika terdapat whether there is an indication that an asset
indikasi tersebut atau pada saat pengujian may be impaired. If such indication exists, the
penurunan nilai aset diperlukan, maka Grup Group estimate the asset’s recoverable
membuat estimasi formal total terpulihkan aset amount. Where the carrying amount of an
tersebut. Jika nilai tercatat aset lebih besar asset exceeds its recoverable amount, the
daripada total terpulihkannya, maka aset asset is considered impaired and an
tersebut mengalami penurunan nilai dan nilai impairment loss is recognized to write down
tercatat aset diturunkan menjadi sebesar total the impaired asset to its recoverable amount.
terpulihkannya.
Penilaian dilakukan pada akhir setiap periode An assessment is made at the end of each
pelaporan apakah terdapat indikasi bahwa rugi reporting period whether there is any
penurunan nilai yang telah diakui pada periode indication that impairment losses recognized in
sebelumnya untuk aset selain goodwill prior periods for an asset other than goodwill
mungkin tidak ada lagi atau mungkin telah may no longer exist or may have decreased. If
menurun. Jika terdapat indikasi tersebut, maka any such indication exists, the recoverable
entitas mengestimasi total terpulihkan aset amount is estimated.
tersebut.
38
Page 188
2025 Management Business Company Corporate Sustainability
186 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
n. Penurunan Nilai Aset Tetap dan Aset Tak n. Impairment of Property, Plant and
Berwujud (lanjutan) Equipment and Intangible Assets
(continued)
Kerugian penurunan nilai yang telah diakui A previously recognized impairment loss for an
dalam periode sebelumnya untuk aset selain asset other than goodwill is reversed only if
goodwill dipulihkan hanya jika terdapat there has been a change in the assumptions
perubahan asumsi-asumsi yang digunakan used to determine the asset’s recoverable
untuk menentukan total terpulihkan aset amount since the last impairment loss was
tersebut sejak rugi penurunan nilai terakhir recognized. If that is the case, the carrying
diakui. Dalam hal ini, total tercatat aset amount of the asset is increased to its
dinaikkan ke total terpulihkannya. Pembalikan recoverable amount. The reversal is limited so
tersebut dibatasi sehingga total tercatat aset that the carrying amount of the asset does not
tidak melebihi total terpulihkannya maupun exceed its recoverable amount, nor exceed
total tercatat, setelah dikurangi penyusutan, the carrying amount that would have been
seandainya tidak ada rugi penurunan nilai determined, net of depreciation, had no
yang telah diakui untuk aset tersebut pada impairment loss been recognized for the asset
tahun sebelumnya. Pembalikan rugi in prior years. Reversal of an impairment loss
penurunan nilai diakui dalam laporan laba rugi. is recognized in profit or loss. After such a
Setelah pembalikan tersebut, penyusutan aset reversal, the depreciation charge on the said
tersebut disesuaikan di periode mendatang asset is adjusted in future periods to allocate
untuk mengalokasikan total tercatat aset yang the asset’s revised carrying amount, less any
direvisi, dikurangi nilai sisanya, dengan dasar residual value, on a systematic basis over its
yang sistematis selama sisa umur remaining useful life.
manfaatnya.
Goodwill diuji untuk penurunan nilai setiap Goodwill is tested for impairment annually (as
tahun (per 31 Desember) dan ketika keadaan of December 31) and when circumstances
yang mengindikasikan bahwa nilai tercatat indicate that the carrying value may be
mungkin mengalami penurunan nilai. impaired. Impairment is determined for
Penurunan nilai bagi goodwill ditetapkan goodwill by assessing the recoverable amount
dengan menentukan total terpulihkan dari of each CGU (or group of CGUs) to which the
setiap UPK (atau kelompok UPK) dimana goodwill relates. Where the recoverable
goodwill terkait. Jika total terpulihkan dari UPK amount of the CGU is less than its carrying
kurang dari total tercatatnya, rugi penurunan amount, an impairment loss is recognized.
nilai diakui.
Kerugian penurunan nilai yang berhubungan Impairment losses relating to goodwill cannot
dengan goodwill tidak dapat dibalik pada be reversed in future periods.
periode yang akan datang.
o. Aset Tak Berwujud o. Intangible Assets
Biaya perolehan proyek Tanjung Jati B The acquisition cost of Tanjung Jati B project
disajikan sebagai aset takberwujud dan is presented as intangible asset and is stated
dinyatakan sebesar biaya perolehan dikurangi at cost less accumulated amortization.
akumulasi amortisasi. Amortisasi dihitung Amortization is computed using the straight-
dengan menggunakan metode garis lurus line method over the estimated useful life of
selama taksiran masa manfaat ekonomis aset the asset of twenty (20) years.
selama dua puluh (20) tahun.
Goodwill merupakan selisih neto antara harga Goodwill represents the excess of acquisiton
perolehan investasi dan bagian Grup atas nilai costs over the Group’s share of fair value of
wajar aset bersih entitas anak pada tanggal the acquired subsidiaries net assets at the
akuisisi. date of acquisition.
Perangkat lunak komputer dinyatakan sebesar Computer software is stated at cost less
biaya perolehan dikurangi akumulasi accumulated amortization. Amortization is
amortisasi. Amortisasi dihitung dengan computed on the straight-line method over
menggunakan metode garis lurus selama the estimated useful life of the asset of
taksiran masa manfaat aset selama empat (4) four (4) years.
tahun.
Biaya perolehan lisensi untuk eksplorasi Acquisition cost of license to explore for
sumber energi alam seperti energi panas bumi natural energy source such as geothermal
dan mini-hidro diakui sebagai aset energy and mini-hydro is recognized as
takberwujud dan akan diamortisasi selama intangible asset and will be amortized over the
jangka waktu lisensi sejak dimulainya kegiatan term of the license starting from the
komersial. commencement of commercial activities.
39
Page 189
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 187
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
p. Sewa p. Leases
Grup menilai pada saat insepsi kontrak The Group assesses at contract inception
apabila kontrak tersebut adalah, atau whether a contract is, or contains, a lease.
mengandung, sewa. Yaitu, bila kontrak That is, if the contract conveys the right to
tersebut memberikan hak untuk control the use of an identified asset for a
mengendalikan penggunaan aset period of time in exchange for consideration.
identifikasian selama suatu jangka waktu
untuk dipertukarkan dengan imbalan.
Grup sebagai Penyewa The Group as Lessee
Grup menerapkan pendekatan pengakuan dan The Group applies a single recognition and
pengukuran tunggal untuk seluruh sewa, measurement approach for all leases, except
kecuali untuk sewa jangka pendek dan sewa for short-term leases and leases of low-value
aset pendasarnya bernilai rendah. Grup assets. The Group recognizes lease liabilities
mengakui liabilitas sewa untuk melakukan to make lease payments and right-of-use
pembayaran sewa dan aset hak-guna yang assets representing the right to use the
mewakili hak untuk menggunakan aset underlying assets.
pendasar.
Aset hak-guna Right-of-use assets
Grup mengakui aset hak-guna pada tanggal The Group recognizes right-of-use assets at
permulaan sewa (yaitu pada tanggal aset the commencement date of the lease (i.e., the
pendasar tersedia untuk digunakan). Aset hak- date the underlying asset is available for use).
guna diukur pada biaya perolehan dikurangi Right-of-use assets are measured at cost, less
akumulasi penyusutan dan rugi penurunan any accumulated depreciation and impairment
nilai, dan disesuaikan untuk setiap losses, and adjusted for any remeasurement
pengukuran kembali liabilitas sewa. Biaya of lease liabilities. The cost of right-of-use
perolehan aset hak-guna meliputi jumlah assets includes the amount of lease liabilities
liabilitas sewa yang diakui, biaya langsung recognized, initial direct costs incurred, and
awal yang dikeluarkan, dan pembayaran sewa lease payments made at or before the
yang dilakukan pada atau sebelum tanggal commencement date less any lease incentives
permulaan, dikurangi dengan insentif sewa received.
yang diterima.
Aset hak-guna didepresiasi dengan metode Right-of-use assets are depreciated on a
garis lurus selama jangka waktu yang lebih straight-line basis over the shorter of the lease
pendek antara masa sewa dan estimasi umur term and the estimated useful lives of the
manfaat aset, sebagai berikut: assets, as follows:
Tahun/
Years
Tanah 1 - 29 Land
Bangunan 1-5 Buildings
Kendaraan 1-3 Vehicles
Jika kepemilikan aset sewa beralih kepada If ownership of the leased asset transfers to
Grup pada akhir masa sewa atau biaya the Group at the end of the lease term or the
perolehan aset hak-guna merefleksikan Grup cost reflects the exercise of a purchase option,
akan mengeksekusi opsi beli, maka depreciation is calculated using the estimated
penyusutan aset hak-guna dihitung useful life of the asset. The right-of-use assets
menggunakan estimasi masa manfaat aset. are also subject to impairment in accordance
Aset hak-guna juga dievaluasi untuk with PSAK No. 236 “Impairment of Assets”.
penurunan nilainya sesuai dengan PSAK No.
236 “Penurunan Nilai Aset”.
40
Page 190
2025 Management Business Company Corporate Sustainability
188 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
p. Sewa (lanjutan) p. Leases (continued)
Liabilitas sewa Lease liabilities
Pada tanggal dimulainya sewa, Grup At the commencement date of the lease, the
mengakui liabilitas sewa yang diukur pada Group recognizes lease liabilities measured at
nilai kini pembayaran sewa yang harus the present value of lease payments to be
dilakukan selama masa sewa. Pembayaran made over the lease term. The lease
sewa mencakup pembayaran tetap (termasuk payments include fixed payments (including in-
pembayaran tetap secara substansi) dikurangi substance fixed payments) less any lease
piutang insentif sewa, pembayaran sewa incentives receivable, variable lease payments
variabel yang bergantung pada indeks atau that depend on an index or a rate, and
tarif, dan jumlah yang diharapkan akan amounts expected to be paid under residual
dibayar di bawah jaminan nilai sisa. value guarantees.
Pembayaran sewa juga mencakup harga The lease payments also include the exercise
pelaksanaan dari opsi pembelian yang secara price of a purchase option reasonably certain
wajar pasti akan dilaksanakan oleh Grup dan to be exercised by the Group and payments of
pembayaran denda untuk penghentian sewa, penalties for terminating the lease, if the lease
jika masa sewa mencerminkan Grup term reflects the Group exercising the option
melaksanakan opsi untuk mengakhiri. to terminate. Variable lease payments that do
Pembayaran sewa variabel yang tidak not depend on an index or a rate are
bergantung pada indeks atau tarif diakui recognized as expenses (unless they are
sebagai beban (kecuali terjadi untuk incurred to produce inventories) in the period
menghasilkan persediaan) pada periode di in which the event or condition that triggers the
mana peristiwa atau kondisi yang memicu payment occurs.
terjadinya pembayaran.
Dalam menghitung nilai kini pembayaran In calculating the present value of lease
sewa, Grup menggunakan suku bunga payments, the Group uses its incremental
pinjaman inkremental pada tanggal dimulainya borrowing rate at the lease commencement
sewa karena tingkat bunga implisit dalam date because the interest rate implicit in the
sewa tidak dapat segera ditentukan. Setelah lease is not readily determinable. After the
tanggal permulaan, jumlah liabilitas sewa commencement date, the amount of lease
ditingkatkan untuk mencerminkan liabilities is increased to reflect the accretion of
penambahan bunga dan dikurangi untuk interest and reduced for the lease payments
pembayaran sewa yang dilakukan. Selain itu, made. In addition, the carrying amount of
nilai tercatat liabilitas sewa diukur kembali jika lease liabilities is remeasured if there is a
ada modifikasi, perubahan jangka waktu sewa, modification, a change in the lease term, a
perubahan pembayaran sewa (misalnya, change in the lease payments (e.g., changes
perubahan pembayaran masa depan akibat to future payments resulting from a change in
perubahan indeks atau kurs yang digunakan an index or rate used to determine such lease
untuk pembayaran sewa) atau perubahan payments) or a change in the assessment of
penilaian opsi untuk membeli aset yang an option to purchase the underlying asset.
mendasarinya.
Sewa jangka-pendek dan sewa aset bernilai- Short-term leases and leases of low-value
rendah assets
Grup memilih untuk tidak mengakui aset hak- The Group has elected not to recognize right-
guna dan liabilitas sewa untuk sewa jangka- of-use assets and lease liabilities for short-
pendek yang memiliki masa sewa 12 bulan term leases that have a lease term of 12
atau kurang dan sewa atas aset bernilai- months or less and leases of low-value assets.
rendah. Grup mengakui pembayaran sewa The Group recognizes the lease payments
terkait dengan sewa ini sebagai beban dengan associated with these leases as expense on a
dasar garis lurus selama masa sewa. straight-line basis over the lease term.
Grup sebagai pesewa The Group as lessor
Pada saat aset disewakan sebagai sewa When assets are leased out under a finance
keuangan, maka nilai kini dari pembayaran lease, the present value of the lease payments
sewa diakui sebagai piutang. Perbedaan is recognized as a receivable. The difference
antara piutang kotor dan nilai kini dari piutang between the gross receivable and the present
diakui sebagai pendapatan keuangan yang value of the receivable is recognized as
belum direalisasikan. unearned finance income.
41
Page 191
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 189
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Perpajakan q. Taxation
Beban pajak penghasilan terdiri dari pajak kini The income tax expense comprises current
dan pajak tangguhan. Pajak diakui dalam and deferred tax. Tax is recognized in the
laporan laba rugi, kecuali jika pajak tersebut profit or loss, except to the extent that it relates
terkait dengan transaksi atau kejadian yang to items recognized in other comprehensive
diakui di pendapatan komprehensif lain atau income or directly in equity. In this case, the
langsung diakui ke ekuitas. Dalam hal ini, tax is also recognized in other comprehensive
pajak tersebut masing-masing diakui dalam income or directly in equity, respectively.
penghasilan komprehensif lain atau ekuitas.
Pajak kini Current tax
Beban pajak kini ditentukan berdasarkan laba Current tax expense is determined based on
kena pajak dalam tahun yang bersangkutan. the taxable income for the year. Tax rates
Tarif pajak yang digunakan untuk menghitung used to compute the amount are those that
jumlah tersebut adalah yang telah berlaku have been enacted at the reporting date.
pada tanggal pelaporan.
Aset dan liabilitas pajak kini untuk tahun Current tax assets and liabilities for the current
berjalan dan tahun sebelumnya diukur and prior years are measured at the amounts
sebesar jumlah yang diharapkan dapat expected to be recovered from or paid to the
direstitusi dari atau dibayarkan kepada otoritas tax authorities.
perpajakan.
Koreksi terhadap liabilitas perpajakan dicatat Amendments to taxation obligations are
saat surat ketetapan pajak diterima dan recorded when an assessment is received and
apabila dilakukan banding, ketika hasil if appealed, when the result of the appeal is
banding sudah diputuskan. Kekurangan/ determined. The underpayment/overpayment
kelebihan pembayaran pajak penghasilan of income tax are recorded as part of "Current
dicatat sebagai bagian dari “Beban Pajak Kini” Tax" in the consolidated statement of profit or
dalam laporan laba rugi dan penghasilan loss and other comprehensive income.
komprehensif lain konsolidasian.
Pajak tangguhan Deferred tax
Pajak tangguhan diakui dengan menggunakan Deferred tax is recognized using the liability
metode liabilitas atas perbedaan temporer method on temporary differences between the
antara perhitungan akuntansi dan basis financial and the tax bases of assets and
perhitungan pajak atas aset dan liabilitas pada liabilities at the financial reporting date.
tanggal pelaporan.
Aset dan liabilitas pajak tangguhan diakui atas Deferred tax assets and liabilities are
perbedaan temporer antara jumlah tercatat recognized for temporary differences between
aset dan liabilitas pada laporan posisi the carrying amount of assets and liabilities
keuangan dengan dasar pengenaan pajaknya with their tax bases at the financial reporting
pada setiap tanggal pelaporan. Aset pajak date. Deferred tax assets are recognized for
tangguhan diakui untuk seluruh perbedaan all deductible temporary differences and
temporer yang boleh dikurangkan dan accumulated tax losses that have not been
akumulasi rugi pajak yang belum utilized, if taxable income is likely to be
dikompensasikan, bila kemungkinan besar available so that the temporary differences can
laba kena pajak akan tersedia sehingga be deducted and the unutilized tax losses can
perbedaan temporer dapat dikurangkan dan be utilized.
rugi pajak belum dikompensasikan tersebut
dapat dimanfaatkan.
42
Page 192
2025 Management Business Company Corporate Sustainability
190 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Perpajakan (lanjutan) q. Taxation (continued)
Pajak tangguhan (lanjutan) Deferred tax (continued)
Aset pajak tangguhan diakui untuk semua Deferred tax assets are recognized for all
perbedaan temporer yang dapat dikurangkan, deductible temporary differences, the carry
saldo kredit pajak yang tidak digunakan dan forward of unused tax credits and any unused
akumulasi rugi fiskal yang tidak terpakai. tax losses. Deferred tax assets are recognized
Aktiva pajak tangguhan diakui apabila besar to the extent that it is probable that taxable
kemungkinan bahwa jumlah penghasilan kena profit will be available against which the
pajak akan memadai untuk dikompensasi deductible temporary differences, and the
dengan perbedaan temporer yang dapat carry forward of unused tax credits and any
dikurangkan, dan penerapan kredit pajak yang unused tax losses can be utilized, except:
tidak terpakai serta akumulasi rugi fiskal yang
dapat digunakan, kecuali:
i. jika aset pajak tangguhan timbul dari i. when the deferred tax asset relating to
pengakuan awal aset atau liabilitas the deductible temporary difference
dalam transaksi yang bukan transaksi arises from the initial recognition of an
kombinasi bisnis dan tidak asset or liability in a transaction that is
mempengaruhi laba akuntansi maupun not a business combination and, at the
laba kena pajak/rugi pajak; atau time of the transaction, affects neither the
accounting profit nor taxable profit or
loss; or
ii. dari perbedaan temporer yang dapat ii. in respect of deductible temporary
dikurangkan atas investasi pada entitas differences associated with investments
anak, perusahaan asosiasi dan in subsidiaries, associates and interest in
kepentingan dalam pengaturan bersama, joint arrangements, deferred tax assets
aset pajak tangguhan hanya diakui bila are recognized only to the extent that it is
besar kemungkinannya bahwa beda probable that the temporary differences
temporer itu tidak akan dibalik dalam will reverse in the foreseeable future and
waktu dekat dan laba kena pajak dapat taxable profit will be available against
dikompensasi dengan beda temporer which the temporary differences can be
tersebut. utilized.
Jumlah tercatat aset pajak tangguhan ditelaah The carrying amount of deferred tax assets is
pada setiap tanggal pelaporan dan nilai reviewed at each reporting date and is
tercatat aset pajak tangguhan tersebut reduced to the extent that it is no longer
diturunkan apabila laba fiskal mungkin tidak probable that sufficient taxable income will be
memadai untuk mengkompensasi sebagian available in the future to enable some or all of
atau semua manfaat aset pajak tangguhan. the benefits of the deferred tax assets to be
Aset pajak tangguhan yang belum diakui realized. Deferred tax assets that have not
sebelumnya ditelaah pada setiap tanggal been recognized previously are reviewed at
pelaporan dan diakui sepanjang laba kena each reporting date and recognized to the
pajak yang akan datang kemungkinan besar extent that it has become probable that
akan tersedia untuk dipulihkan. sufficient taxable income will be available to
enable the deferred tax assets to be
recovered.
Aset dan liabilitas pajak tangguhan diukur Deferred tax assets and liabilities are
berdasarkan tarif pajak yang diharapkan akan measured based on tax rates that are
dipakai saat aset terealisasi dan liabilitas expected to apply to the year when the assets
diselesaikan berdasarkan tarif pajak dan are realized and liabilities are settled based on
peraturan perpajakan yang berlaku atau yang the tax rates and tax laws that have been
secara substantif telah berlaku pada tanggal enacted or substantively enacted at the
laporan posisi keuangan konsolidasian. consolidated statement of financial position
date.
Aset pajak tangguhan dan liabilitas pajak Deferred tax assets and deferred tax liabilities
tangguhan saling hapus jika terdapat hak are offset if there is a legal right to off-set
secara hukum untuk melakukan saling hapus deferred tax assets against deferred tax
atas aset pajak kini terhadap liabilitas pajak liabilities and the deferred tax assets and
kini atau aset dan liabilitas pajak tangguhan liabilities pertain to the same entity.
pada entitas yang sama.
43
Page 193
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 191
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Perpajakan (lanjutan) q. Taxation (continued)
Pajak pertambahan nilai Value added tax
Pendapatan, beban-beban dan aset-aset Revenue, expenses and assets are
diakui neto atas jumlah PPN kecuali: recognized net of the amount of VAT except:
• PPN yang muncul dari pembelian aset • Where the VAT incurred on a purchase of
atau jasa yang tidak dapat dikreditkan, assets or services is not recoverable, in
yang dalam hal ini PPN diakui sebagai which case the VAT is recognized as part
bagian dari biaya perolehan aset atau of the cost of acquisition of the asset or as
sebagai bagian dari item beban-beban part of the expense item as applicable; and
yang terkait; dan
• Piutang dan utang yang disajikan termasuk • Receivables and payables that are stated
dengan jumlah PPN. with the amount of VAT included.
Jumlah PPN neto yang diajukan untuk The net amount of VAT which is claimed for
direstitusi, atau terutang kepada, kantor pajak restitution from, or payable to, the taxation
termasuk sebagai bagian dari aset atau authorities is included as part of assets or
liabilitas pada laporan posisi keuangan liabilities in the statement of financial position.
konsolidasian.
Pajak penghasilan pilar dua Pillar Two income taxes
Sebagai tanggapan terhadap penerapan In response to the implementation of the
kerangka Pilar 2 Organisasi untuk Kerja Sama Organisation for Economic Co-operation and
dan Pembangunan Ekonomi (Organisation for Development (“OECD”) Pillar 2 framework rule
Economic Co-operation and Development (“Pillar 2”), on December 31, 2024, Indonesian
atau "OECD"), pada tanggal 31 Desember Government implemented Pillar 2 framework
2024, Pemerintah Indonesia menetapkan through Ministry of Finance Regulation No.
aturan kerangka Pilar 2 (“Pillar 2”) melalui 136/2024 (PMK 136/2024). The Pillar 2 model
Peraturan Menteri Keuangan No. 136/2024 rules as implemented under PMK 136/2024
(PMK 136/2024). Pilar 2 sesuai PMK 136/2024 will take effect for fiscal years beginning on or
akan berlaku untuk tahun fiskal yang dimulai after January 1, 2025. For the year ended
pada atau setelah tanggal 1 Januari 2025. December 31, 2025, the Group has applied
Untuk tahun yang berakhir pada 31 Desember amendments to PSAK 212: Income Taxes,
2025, Grup telah menerapkan amendemen which provide mandatory temporary exception
PSAK 212: Pajak Penghasilan, yang from recognizing or disclosing deferred taxes
memberikan pengecualian wajib sementara related to Pillar 2. PMK 136/2024 applies new
dari pengakuan atau pengungkapan pajak taxing mechanisms under which a
tangguhan terkait Pilar 2. PMK 136/2024 Multinational Enterprises (“MNE”) should pay a
menerapkan mekanisme perpajakan baru
top-up tax in a jurisdiction whenever their
yang mensyaratkan Perusahaan Multinasional
efective tax rate, determined on a jurisdictional
("PMN") untuk membayar pajak tambahan
basis under the Pillar 2, is below a 15%
padayurisdiksi tertentu ketika tarif pajak efektif
minimum rate.
yang ditentukan per yurisdiksi menurut Pilar 2
lebih rendah dari tarif minimum 15%.
44
Page 194
2025 Management Business Company Corporate Sustainability
192 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
r. Liabilitas Imbalan Kerja (lanjutan) r. Provision for Employee Service
Entitlements (continued)
Grup mengakui imbalan kerja karyawan The Group recognizes employee benefits
sesuai dengan Undang-Undang based on the Labor Law No. 13/2003 dated
Ketenagakerjaan No. 13/2003 tanggal 25 March 25, 2003 ("Law No. 13"), Collective
Maret 2003 ("Undang-Undang No. 13"), Labor Agreement ("CLA") and Company
Perjanjian Kerja Bersama ("PKB") dan Regulations ("CR") in accordance with its
Peraturan Perusahaan ("PP") sesuai dengan policies whereby the Company makes benefit
kebijakannya dimana Perusahaan payments to employees who have worked for
memberikan pembayaran tunjangan kepada a certain number of years/which were still
karyawan yang telah bekerja selama beberapa effective as of December 31, 2025. Provisions
tahun tertentu/yang masih berlaku pada for such employee benefits are estimated
tanggal 31 Desember 2025. Provisi untuk based on the actuarial valuation prepared by
imbalan kerja tersebut diestimasi berdasarkan an independent actuary, using the projected
penilaian aktuarial yang dilakukan oleh unit credit method. This benefit is unfunded.
aktuaris independen, dengan menggunakan
metode projected unit credit. Manfaat ini tidak
didanai.
Untuk imbalan kerja karyawan, pengukuran For employee retirement benefits, re-
ulang, yang terdiri dari keuntungan dan measurement, comprising of actuarial gains
kerugian aktuarial, langsung diakui dalam and losses, is recognized immediately in the
laporan posisi keuangan konsolidasian consolidated statement of financial position
dengan debit atau kredit yang sesuai dengan with a corresponding debit or credit to retained
saldo laba melalui Penghasilan Komprehensif earnings through Other Comprehensive
Lain pada periode terjadinya. Pengukuran Income in the period in which they occur. Re-
kembali tidak direklasifikasi ke laba atau rugi measurements are not reclassified to profit or
pada periode berikutnya. Biaya jasa lalu diakui loss in subsequent periods. Past service costs
pada laba rugi pada tanggal yang lebih awal are recognized in profit or loss on the earlier of
antara tanggal amendemen atau kurtailmen the date of the plan amendment or curtailment
program dan tanggal pada saat Grup and the date that the Group recognizes
mengakui biaya restrukturisasi terkait. restructuring related costs.
Bunga neto dihitung dengan menerapkan Net interest is calculated by applying the
tingkat diskonto atas kewajiban atau aset discount rate to the net defined benefit liability
imbalan pasti. Biaya layanan terdiri dari biaya or asset. Service costs comprise current
layanan saat ini dan biaya jasa lalu, service costs and past service costs, gains
keuntungan dan kerugian pada kurtailmen dan and losses on curtailments and non-routine
penyelesaian non-rutin, jika ada. Beban atau settlements, if any. Net interest expense or
pendapatan bunga neto dan biaya jasa diakui income, and service costs are recognized in
dalam laba rugi. profit or loss.
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama Ventures
Entitas asosiasi adalah entitas yang mana An associate is an entity over which the Group
Grup memiliki pengaruh signifikan. Pengaruh has significant influence. Significant influence
signifikan adalah kekuasaan untuk is the power to participate in the financial and
berpartisipasi dalam keputusan kebijakan operating policy decisions of the investee, but
keuangan dan operasional investee, tetapi not control or joint control over those policies.
tidak mengendalikan atau mengendalikan
bersama atas kebijakan tersebut.
Ventura bersama adalah pengaturan bersama A joint venture is a type of joint arrangement
yang para pihaknya memiliki pengendalian whereby the parties that have joint control of
bersama atas pengaturan memiliki hak atas the arrangement have rights to the net assets
aset neto dari ventura bersama. Pengendalian of the joint venture. Joint control is the
bersama adalah persetujuan kontraktual untuk contractually agreed sharing of control of an
berbagi pengendalian atas suatu pengaturan, arrangement, which exists only when
yang ada hanya ketika keputusan tentang decisions about the relevant activities require
aktivitas relevan mensyaratkan persetujuan unanimous consent of the parties sharing
dengan suara bulat dari seluruh pihak yang control.
berbagi pengendalian.
45
Page 195
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 193
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued)
Sesuai dengan metode ekuitas, investasi pada Under the equity method, the investment in an
entitas asosiasi dan ventura bersama diakui associate and joint venture is initially
pada awalnya sebesar biaya perolehan. Nilai recognized at cost. The carrying amount of the
tercatat investasi tersebut selanjutnya investment is adjusted to recognize changes in
disesuaikan untuk mengakui perubahan pasca the Group’s share of net assets of the
perolehan dalam bagian Grup atas aset neto associate and joint venture since the
dari entitas asosiasi dan ventura bersama acquisition date. Goodwill relating to the
tersebut sejak tanggal akuisisi. Goodwill associate and joint venture is included in the
sehubungan dengan entitas asosiasi diakui carrying amount of the investment and is
dalam nilai tercatat investasi dan tidak neither amortized nor individually tested for
diamortisasi maupun dilakukan pengujian impairment.
penuruan nilai secara individual.
Laporan laba rugi dan penghasilan The consolidated statement of profit or loss
komprehensif lain konsolidasian and other comprehensive income reflects the
mencerminkan bagian Grup atas hasil operasi Group’s share of the results of operations of
dari entitas asosiasi dan ventura bersama. Bila the associates and joint venture. Any change
terdapat perubahan dalam pendapatan in other comprehensive income (OCI) of those
komprehensif lainnya pada entitas asosiasi investees is presented as part of the Group’s
dan ventura bersama, disajikan sebagai OCI. In addition, when there has been a
pendapatan komprehensif lainnya Grup. Bila change recognized directly in the equity of the
terdapat perubahan yang diakui langsung associate, the Group recognizes its share of
pada ekuitas dari entitas asosiasi, Grup any changes, when applicable, in the
mengakui bagiannya atas perubahan tersebut consolidated statement of changes in equity.
dan mengungkapkan hal ini, jika dapat Unrealized gains and losses resulting from
diterapkan, dalam laporan perubahan ekuitas transactions between the Group and the
konsolidasian. Laba atau rugi yang belum associate and joint venture are eliminated to
direalisasi sebagai hasil dari transaksi antara the extent of the interest in the associate and
Grup dengan entitas asosiasi dan ventura joint venture.
bersama dieliminasi pada jumlah sesuai
dengan jumlah kepentingan Grup dalam
entitas asosiasi dan ventura bersama.
Laporan keuangan entitas asosiasi dan The financial statements of the associate and
ventura bersama disusun untuk periode joint venture are prepared for the same
pelaporan yang sama dengan Grup. Jika reporting period as the Group. When
diperlukan, penyesuaian dilakukan untuk necessary, adjustments are made to bring
menyeragamkan dengan kebijakan akuntansi their accounting policy in line with those of the
Grup. Group.
Setelah penerapan metode ekuitas, Grup After application of the equity method, the
menentukan apakah diperlukan untuk Group determines whether it is necessary to
mengakui rugi penurunan nilai atas investasi recognize an impairment loss on its
dalam entitas asosiasi dan ventura bersama. investment in its associate and joint venture.
Grup menentukan pada setiap tanggal At its reporting date, the Group determines
pelaporan apakah terdapat bukti yang objektif whether there is objective evidence that the
yang mengindikasikan bahwa investasi dalam investment in the associate is impaired. If
entitas asosiasi mengalami penurunan nilai. there is such evidence, the Group calculates
Dalam hal terdapat bukti yang objektif, Grup the amount of impairment as the difference
menghitung jumlah penurunan nilai between the recoverable amount of the
berdasarkan selisih antara jumlah terpulihkan associate and joint venture and its carrying
atas investasi dalam entitas asosiasi dan value, and then recognizes the loss as “Share
ventura bersama dan nilai tercatatnya dan of net income (loss) of associates and joint
mengakui kerugian tersebut sebagai “Bagian venture” in the profit or loss.
laba (rugi) dari entitas asosiasi dan ventura
bersama” di dalam laporan laba rugi.
Pada saat kehilangan pengaruh signifikan Upon loss of significant influence over the
terhadap entitas asosiasi dan ventura associate and joint venture, the Group
bersama, Grup mengukur dan menilai measures and recognizes any retained
investasi yang tersisa pada nilai wajarnya. investment at its fair value. Any difference
Selisih yang timbul atas nilai tercatat dengan between the carrying amount of the associate
nilai wajarnya pada saat kehilangan pengaruh upon loss of significant influence or joint
signifikan dan hasil yang diterima pada saat control and the fair value of the retained
pelepasan diakui dalam laporan laba rugi. investment and proceeds from disposal is
recognized in profit or loss.
46
Page 196
2025 Management Business Company Corporate Sustainability
194 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued)
Investasi dicatat dengan menggunakan An investment is accounted for using the
metode ekuitas sejak tanggal investasi equity method from the date on which it
tersebut memenuhi definisi entitas asosiasi becomes an associate or a joint venture. On
atau ventura bersama. Pada saat perolehan acquisition of the investment, any difference
investasi, setiap selisih antara biaya perolehan between the cost of the investment and the
investasi dengan bagian entitas atas nilai entity's share of the net fair value of the
wajar neto aset dan liabilitas teridentifikasi dari investee's identifiable assets and liabilities is
investee dicatat dengan cara sebagai berikut: accounted for as follows:
a. Goodwill yang terkait dengan entitas a. Goodwill relating to an associate or a
asosiasi atau ventura bersama termasuk joint venture is included in the carrying
dalam jumlah tercatat investasi. Amortisasi amount of the investment. Amortization
goodwill tersebut tidak diperkenankan. of that goodwill is not permitted.
b. Setiap selisih lebih bagian entitas atas nilai b. Any excess of the entity's share of the
wajar neto aset dan liabilitas teridentifikasi net fair value of the investee's identifiable
dari investee terhadap biaya perolehan assets and liabilities over the cost of the
investasi dimasukkan sebagai penghasilan investment is included as income in the
dalam menentukan bagian entitas atas determination of the entity's share of the
laba rugi entitas asosiasi atau ventura associate’s or joint venture's profit or loss
bersama pada periode investasi diperoleh. in the period in which the investment is
acquired.
Penyesuaian terhadap bagian entitas atas Appropriate adjustments to the entity's share
laba rugi entitas asosiasi atau ventura of the associate's or joint venture's profit or
bersama setelah akuisisi dilakukan untuk loss after acquisition are made in order to
mencatat, sebagai contoh, penyusutan dari account, for example, for depreciation of the
aset berdasarkan nilai wajarnya pada tanggal depreciable assets based on their fair values
perolehan. Sedangkan, penyesuaian terhadap at the acquisition date. Similarly, appropriate
bagian entitas atas laba rugi entitas asosiasi adjustments to the entity's share of the
atau ventura bersama setelah akuisisi associate's or joint venture's profit or loss after
dilakukan atas rugi penurunan nilai yang acquisition are made for impairment losses
diakui, misalnya goodwill atau aset tetap. such as for goodwill or property, plant and
equipment.
Grup menilai kepemilikannya pada Operasi The Group assesses its interest in the Sarulla
Panas Bumi Sarulla (Grup Kontraktror Geothermal Operation (Joint Operation
Pengendalian Bersama) sebagai operasi Contractor Group) as joint operations. A joint
bersama. Operasi bersama adalah salah satu operation is a type of joint arrangement
jenis pengaturan bersama dimana para pihak whereby the parties that have joint control of
yang memiliki pengendalian bersama atas the arrangement have rights to the assets and
pengaturan memiliki hak atas aset, kewajiban obligation for the liabilities, relating to the
atas liabilitas, terkait dengan pengaturan arrangement.
tersebut.
Sehubungan dengan kepemilikannya dalam In relation to its interest in joint operations, the
operasi bersama, Grup mengakui: Group recognizes its:
• Aset, mencakup bagiannya atas setiap • Assets, including its share of any assets
aset yang dimiliki bersama; held jointly;
• Liabilitas, mencakup bagiannya atas • Liabilities, including its share of any
liabilitas yang terjadi bersama; liabilities incurred jointly;
• Pendapatan dari penjualan bagiannya atas • Revenue from the sale of its share of the
output yang dihasilkan dari operasi output arising from the joint operation;
bersama;
• Bagiannya atas pendapatan dari penjualan • Share of the revenue from the sale of the
output oleh operasi bersama; dan output by the joint operation; and
• Beban, mencakup bagiannya atas setiap • Expenses, including its share of any
beban yang terjadi secara bersama-sama. expenses incurred jointly.
47
Page 197
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 195
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued)
Penyesuaian dilakukan dalam laporan Adjustments are made in the consolidated
keuangan konsolidasian untuk mengeliminasi financial statements to eliminate the Group’s
bagian Grup atas saldo, transaksi dan share of intragroup balances, transactions and
keuntungan dan kerugian yang belum unrealized gains and losses on such
direalisasi dari transaksi tersebut antara Grup transactions between the Group and its joint
dan ventura bersama. Kerugian dari transaksi venture. Losses on transactions are
diakui segera jika kerugian tersebut recognized immediately if the loss provides
memberikan bukti penurunan nilai realisasi evidence of a reduction in the net realizable
neto aset lancar atau kerugian penurunan value of current assets or an impairment loss.
nilai.
t. Penentuan Nilai Wajar t. Fair Value Measurement
Grup mengukur instrumen keuangan seperti The Group measure financial instruments,
derivatif pada nilai wajar setiap tanggal such as derivatives, at fair value at each
pelaporan. Grup juga mengukur pada reporting date. The Group also initially
pengakuan awal instrumen keuangan, dan measures financial instruments, and assets
aset dan liabilitas yang diperoleh melalui and liabilities of the acquiree upon business
kombinasi bisnis pada nilai wajar. Grup juga combination at fair value. They also measure
mengukur jumlah terpulihkan dari unit certain recoverable amounts of the cash
penghasil kas (“UPK”) tertentu berdasarkan generating unit (“CGU”) using fair value less
nilai wajar dikurangi biaya pelepasan, dan aset cost of disposal (“FVLCD”), and certain
keuangan tertentu pada nilai wajar melalui financial assets at fair value through other
penghasilan komprehensif lain (“NWPKL”). comprehensive income (“FVOCI”).
Nilai wajar adalah harga yang akan diterima Fair value is the price that would be received
untuk menjual suatu aset atau harga yang to sell an asset or paid to transfer a liability in
akan dibayar untuk mengalihkan suatu an orderly transaction between market
liabilitas dalam transaksi teratur antara pelaku participants at the measurement date. The fair
pasar pada tanggal pengukuran. Pengukuran value measurement is based on the
nilai wajar berdasarkan asumsi bahwa presumption that the transaction to sell the
transaksi untuk menjual aset atau asset or transfer the liability takes place either:
mengalihkan liabilitas terjadi di:
• Pasar utama untuk aset dan liabilitas • In the principal market for the asset or
tersebut; atau liability; or
• Jika tidak terdapat pasar utama, di pasar • In the absence of a principal market, in
yang paling menguntungkan untuk aset the most advantageous market for the
atau liabilitas tersebut. Grup harus asset or liability the principal or the most
memiliki akses ke pasar utama atau advantageous market must be accessible
pasar yang paling menguntungkan by the Group.
tersebut.
Nilai wajar aset dan liabilitas diukur The fair value of an asset or a liability is
menggunakan asumsi yang akan digunakan measured using the assumptions that market
pelaku pasar ketika menentukan harga aset participants would use when pricing the asset
atau liabilitas tersebut, dengan asumsi bahwa or liability, assuming that market participants
pelaku pasar bertindak dalam kepentingan act in their economic best interest.
ekonomi terbaiknya.
Pengukuran nilai wajar aset non-keuangan A fair value measurement of a non-financial
mempertimbangkan kemampuan pelaku pasar asset takes into account a market participant's
untuk menghasilkan keuntungan ekonomi ability to generate economic benefits by using
dengan menggunakan aset tersebut dalam the asset in its highest and best use or by
penggunaan tertinggi dan terbaiknya atau selling it to another market participant that
dengan menjualnya ke pelaku pasar lain yang would use the asset in its highest and best
akan menggunakan aset tersebut dalam use.
penggunaan tertinggi dan terbaiknya.
48
Page 198
2025 Management Business Company Corporate Sustainability
196 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
t. Penentuan Nilai Wajar (lanjutan) t. Fair Value Measurement (continued)
Grup menggunakan teknik penilaian yang The Group uses valuation techniques that are
sesuai dalam keadaan dan dimana data yang appropriate in the circumstances and for which
memadai tersedia untuk mengukur nilai wajar, sufficient data are available to measure fair
memaksimalkan penggunaan input yang dapat value, maximizing the use of relevant
diobservasi yang relevan dan meminimalkan observable inputs and minimizing the use of
penggunaan input yang tidak dapat unobservable inputs.
diobservasi.
Semua aset dan liabilitas yang nilai wajarnya All assets and liabilities for which fair value is
diukur atau diungkapkan dalam laporan measured or disclosed in the financial
keuangan konsolidasian dikategorikan dalam statements are categorized within the fair
hirarki nilai wajar, sebagaimana dijelaskan di value hierarchy, described as follows, based
bawah ini, berdasarkan tingkatan level input on the lowest level input that is significant to
yang terendah yang signifikan terhadap the fair value measurement as a whole:
pengukuran nilai wajar secara keseluruhan:
• Level 1 - harga kuotasian (tanpa • Level 1 - quoted (unadjusted) market
penyesuaian) di pasar aktif untuk aset atau prices in active markets for identical
liabilitas yang identik assets or liabilities
• Level 2 - teknik penilaian di mana tingkat • Level 2 - valuation techniques for which
level input terendah yang signifikan the lowest-level input that is significant to
terhadap pengukuran nilai wajar dapat the fair value measurement is directly or
diobservasi baik secara langsung atau indirectly observable
tidak langsung
• Level 3 - teknik penilaian dimana tingkat • Level 3 - valuation techniques for which
level input terendah yang signifikan the lowest-level input that is significant to
terhadap pengukuran nilai wajar tidak the fair value measurement is
dapat diobservasi baik secara langsung unobservable
atau tidak langsung
Untuk aset dan liabilitas yang diukur secara For assets and liabilities that are recognized in
berulang dalam laporan keuangan the consolidated financial statements on a
konsolidasian, Grup menentukan apakah recurring basis, the Group determines whether
perpindahan antar level hirarki telah terjadi transfers have occurred between levels in the
dengan melakukan evaluasi pengelompokan hierarchy by re-assessing categorisation
(berdasarkan level input yang terendah yang (based on the lowest level input that is
signifikan terhadap pengukuran nilai wajar significant to the fair value measurement as a
secara menyeluruh) pada setiap akhir periode whole) at the end of each reporting period.
pelaporan.
Untuk tujuan penentuan pengungkapan nilai For the purpose of fair value disclosures, the
wajar, Grup menentukan kelompok aset dan Group has determined classes of assets and
liabilitas berdasarkan sifat, karakteristik dan liabilities based on the nature, characteristics
risiko dari aset dan liabilitas dan level dari and risks of the asset or liability and the level
hirarki nilai wajar yang dijelaskan di atas. of the fair value hierarchy as explained above.
u. Informasi Segmen u. Segment Information
Segmen adalah komponen Grup yang dapat A segment is a distinguishable component of
dibedakan dalam menghasilkan produk the Group that is engaged either in providing
tertentu (segmen bisnis) atau dalam certain products (business segment), or in
menghasilkan produk dalam sebuah providing products within a particular
lingkungan ekonomi khusus (segmen economic environment (geographical
geografis), yang merupakan subyek yang segment), which is subject to risks and
mempunyai risiko dan manfaat yang berbeda rewards that are different from those of other
dari segmen lainnya. segments.
Pendapatan, beban, hasil, aset dan liabilitas Segment revenue, expenses, results, assets,
segmen termasuk hal-hal yang dapat and liabilities include items directly attributable
diatribusikan secara langsung terhadap to a segment as well as those that can be
sebuah segmen dan juga yang dapat allocated on a reasonable basis to that
dialokasikan pada dasar yang wajar pada segment. They are determined before
segmen tersebut. Segmen tersebut ditentukan intragroup balances and intragroup
sebelum saldo intragrup dan transaksi transactions are eliminated.
intragrup dieliminasi.
49
Page 199
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 197
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
u. Informasi Segmen (lanjutan) u. Segment Information (continued)
Untuk tujuan manajemen, Grup dibagi menjadi For management purposes, the Group is
segmen operasi berdasarkan produk dan jasa organized into operating segments based on
yang dikelola secara independen oleh masing- their products and services which are
masing pengelola segmen yang bertanggung independently managed by the respective
jawab atas kinerja dari masing-masing segment managers responsible for the
segmen. Para pengelola segmen melaporkan performance of the respective segments under
secara langsung kepada manajemen their charge. The segment managers report
Perusahaan yang secara teratur mengkaji laba directly to the management who regularly
segmen sebagai dasar untuk mengalokasikan review the segment results in order to allocate
sumber daya ke masing-masing segmen dan resources to the segments and to assess the
untuk menilai kinerja segmen. segment performance.
Pengungkapan tambahan pada masing- Additional disclosures on each of these
masing segmen terdapat dalam Catatan 41, segments are shown in Note 41, including the
termasuk faktor yang digunakan untuk factors used to identify the reportable
mengidentifikasi segmen yang dilaporkan dan segments and the measurement basis of
dasar pengukuran informasi segmen. segment information.
v. Laba per Saham v. Earnings per Share
Laba per saham dihitung berdasarkan rata- Earnings per share is computed based on the
rata tertimbang jumlah saham yang beredar weighted average number of issued and fully
selama periode yang bersangkutan. paid shares during the period.
Grup tidak mempunyai efek berpotensi saham The Group has no outstanding dilutive
biasa yang bersifat dilutif pada tanggal 31 potential ordinary shares as of December 31,
Desember 2025. 2025.
w. Biaya Pinjaman w. Borrowing Costs
Biaya pinjaman terdiri dari beban bunga dan Borrowing costs consist of interest expenses
biaya lain yang ditanggung Grup sehubungan and other financing charges that the Group
dengan peminjaman dana. Biaya pinjaman incurs in connection with the borrowing funds.
yang dapat diatribusikan langsung dengan Borrowing costs that are directly attributable to
perolehan, pembangunan atau pembuatan the acquisition, construction or production of a
aset kualifikasian dikapitalisasi sebagai bagian qualifying asset are capitalized as part of the
biaya perolehan aset tersebut. Biaya pinjaman cost of the related asset. All other borrowing
lainnya diakui sebagai beban pada saat terjadi costs are recognized as expenses when
Grup. incurred.
x. Peristiwa Setelah Periode Pelaporan x. Events After Reporting Period
Peristiwa setelah akhir tahun yang Post year-end events that provide additional
memberikan informasi tambahan tentang information about the Group’s position at end
posisi Grup pada akhir periode pelaporan of reporting period (adjusting events) are
(peristiwa penyesuaian) dicerminkan dalam reflected in the consolidated financial
laporan keuangan konsolidasian. Peristiwa statements. Post year-end events that are not
setelah akhir tahun yang tidak disesuaikan adjusting events are disclosed in the notes to
diungkapkan dalam catatan atas laporan the consolidated financial statements when
keuangan konsolidasian jika material. material.
50
Page 200
2025 Management Business Company Corporate Sustainability
198 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
y. Perubahan Kebijakan Akuntansi dan y. Changes in Accounting Policies and
Pengungkapan Disclosures
Grup menerapkan pertama kali seluruh The Group adopted the new and/or revised
standar baru dan/atau yang direvisi yang standards effective for the periods beginning
berlaku efektif untuk periode yang dimulai on or after January 1, 2025:
pada atau setelah 1 Januari 2025:
Amendemen PSAK 221: Kekurangan Amendment of PSAK 221: Lack of
ketertukaran exchangeability
Amendemen tersebut mengharuskan The amendments require disclosure of
pengungkapan informasi yang memungkinkan information that enables users of financial
pengguna laporan keuangan memahami statements to understand the impact of a
dampak mata uang yang tidak dapat currency not being exchangeable. The
dipertukarkan. Amendemen berlaku untuk amendments apply for annual reporting
periode pelaporan tahunan yang dimulai pada periods beginning on or after 1 January 2025.
atau setelah 1 Januari 2025. Penerapan dini Earlier application is permitted which an entity
diperkenankan dimana entitas diharuskan is required to disclose that fact. The date of
mengungkapkan fakta tersebut. Tanggal initial application is the beginning of the annual
penerapan awal adalah awal periode reporting period in which an entity first applies
pelaporan tahunan saat entitas pertama kali the amendments.
menerapkan amendemen tersebut.
Grup menilai bahwa standar akuntansi baru The Group assessed that the new accounting
tersebut tidak berdampak material terhadap standard has no impact on the Group’s
pelaporan keuangan Grup. financial reporting.
PSAK 117: Kontrak asuransi PSAK 117: Insurance contracts
Standar akuntansi baru yang komprehensif A comprehensive new accounting standard for
untuk kontrak asuransi yang mencakup insurance contracts covering recognition and
pengakuan dan pengukuran, penyajian dan measurement, presentation and disclosure,
pengungkapan, pada saat berlaku efektif upon its effective date, PSAK 117 will replace
PSAK 117 akan menggantikan PSAK 104: PSAK 104: Insurance contracts. PSAK 117
Kontrak asuransi. PSAK 117 berlaku untuk applies to all types of insurance contracts, life,
semua jenis kontrak asuransi, jiwa, non-jiwa, non-life, direct insurance and re-insurance,
asuransi langsung dan reasuransi, terlepas regardless of the entities issuing them, as well
dari entitas yang menerbitkannya, serta untuk as to certain guarantees and financial
jaminan dan instrumen keuangan tertentu instruments with discretionary participation
dengan fitur partisipasi tidak mengikat, serta features, while a few scope exceptions will
beberapa pengecualian ruang lingkup akan apply. The overall objective of PSAK 117 is to
berlaku. Tujuan keseluruhan dari PSAK 117 provide an accounting model for insurance
adalah untuk menyediakan model akuntansi contracts that is more useful and consistent for
untuk kontrak asuransi yang lebih bermanfaat insurers.
dan konsisten untuk asuradur.
Grup menilai bahwa standar akuntansi baru The Group assessed that the new accounting
tersebut tidak berdampak material terhadap standard has no impact on the Group’s
pelaporan keuangan Grup. financial reporting.
51
Page 201
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 199
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN ESTIMATES AND ASSUMPTIONS
Penyusunan laporan keuangan konsolidasian The preparation of consolidated financial
sesuai dengan Standar Akuntasi Keuangan di statements in accordance with Indonesian Financial
Indonesia mengharuskan manajemen untuk Accounting Standards requires management to
membuat pertimbangan, estimasi dan asumsi yang make judgments, estimates and assumptions that
mempengaruhi laporan keuangan. Ketidakpastian affect amounts reported therein. Due to inherent
mengenai asumsi dan estimasi tersebut dapat uncertainty in making estimates, actual results to
mengakibatkan penyesuaian material terhadap nilai be reported in future periods may be based on
tercatat aset dan liabilitas dalam periode pelaporan amounts that differ from those estimates.
berikutnya.
Pertimbangan Judgments
Dalam proses penerapan kebijakan akuntansi In the process of applying the Group’s accounting
Grup, manajemen telah membuat penilaian sebagai policies, the management has made the following
berikut yang memiliki dampak signifikan terhadap judgments which have significant effect on the
jumlah-jumlah dalam laporan keuangan amounts in the consolidated financial statements:
konsolidasian ini:
Klasifikasi Aset dan Liabilitas Keuangan Classification of Financial Assets and Liabilities
Untuk menentukan kategori klasifikasi dan To determine the financial instruments classification
pengukuran instrumen keuangan, PSAK 109 and measurement category, PSAK 109 requires all
mengharuskan semua aset keuangan, kecuali financial assets, except equity instruments and
instrument ekuitas dan derivatif, untuk dievaluasi derivatives, to be assessed based on a
berdasarkan kombinasi dari model bisnis entitas combination of the entity’s business model for
untuk mengelola aset dan karakteristik arus kas managing the assets and the instrument’s
kontraktual instrumen. Klasifikasi instrumen contractual cash flow characteristics. The
keuangan pada saat pengakuan awal tergantung classification of financial instruments at initial
pada dan perjanjian kontraktual dan model bisnis recognition depends on their contractual terms and
untuk mengelola instrument tersebut. the business model for managing the instruments.
Grup menentukan model bisnis tersebut The Group determines its business model at the
menggunakan dengan tingkat yang terbaik yang level that best reflects how it manages groups of
mencerminkan bagaimana perusahaan mengatur financial assets to achieve its business objective,
aset keuangan untuk mencapai tujuan bisnisnya, such that the risks that affect the performance of
hal tersebut mempengaruhi kinerja model bisnisnya the business model (and the financial assets held
(dan aset keuangan yang dikelola oleh bisnis within that business model) and, in particular, the
model) dan secara khusus, bagaimana risiko way those risks are managed. As a second step of
tersebut dikelola. Sebagai langkah selanjutnya dari its classification process, the Group assesses the
proses klasifikasi, Grup mengevaluasi perjanjian contractual terms of the financial asset to identify
kontraktual aset keuangan untuk menentukan whether they meet the SPPI test.
apakah mereka memenuhi persyaratan tes SPPI.
Klasifikasi aset dan liabilitas keuangan di The classification of the financial assets and
ungkapkan pada Catatan 2j. liabilities are disclosed in Note 2j.
52
Page 202
2025 Management Business Company Corporate Sustainability
200 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Penilaian Perjanjian Kontraktual Contractual Arrangement Assessment
Manajemen menggunakan pertimbangannya dalam The management exercises its judgment in
menentukan apakah perjanjian kontraktual dengan determining whether or not the contractual
PT PLN (Persero), PLN Batam, PT PLN (Persero) arrangements with PT PLN (Persero), PLN Batam,
Wilayah Sumatera Selatan, Jambi, dan Bengkulu PT PLN (Persero) Wilayah Sumatera Selatan,
(“PT PLN WS2JB”) dan PT PLN (Persero) Unit Jambi, dan Bengkulu (“PT PLN WS2JB”) and PT
Distribusi Jawa Barat (“PT PLNUIDJB”) termasuk PLN (Persero) Unit Distribusi Jawa Barat (“PT
dalam ruang lingkup ISAK No. 112, “Perjanjian PLNUIDJB”) fall within the scope of ISAK No. 112,
Konsesi Jasa”. Manajemen melakukan evaluasi “Service Concession Arrangements”. Management
terhadap syarat dan ketentuan perjanjian untuk evaluates the terms and conditions of the
menentukan apakah suatu perjanjian merupakan agreement to determine whether an agreement is a
perjanjian konsesi jasa dengan kriteria service concession agreement with the criteria as
sebagaimana diatur dalam ISAK No. 112 berikut: stipulated in ISAK No. 112 as follows:
a. Pemberi konsesi mengendalikan atau a. the grantor controls or regulates what services
meregulasi jasa apa yang harus diberikan the operator must provide with the
oleh operator dengan infrastruktur, kepada infrastructure, to whom it must provide them,
siapa jasa harus diberikan dan berapa and at what price; and
harganya; dan
b. Pemberi konsesi mengendalikan - melalui b. the grantor controls - through ownership,
kepemilikan, hak manfaat, atau bentuk lain - beneficial entitlement or otherwise-any
atas setiap kepentingan residu signifikan significant residual interest in the
dalam infrastruktur pada akhir masa infrastructure at the end of the term of the
perjanjian. arrangement.
Kepentingan dalam Pengaturan Bersama Interest in Joint Arrangements
Pertimbangan diperlukan untuk menentukan kapan Judgment is required to determine when the Group
Grup memiliki pengendalian bersama terhadap has joint control, which requires an assessment of
sebuah pengaturan, yang memerlukan penilaian the relevant activities and when the decisions in
dari aktivitas yang relevan dan apabila keputusan relation to those activities require unanimous
sehubungan dengan aktivitas tersebut consent. The Group determined that the relevant
mengharuskan persetujuan dengan suara bulat. activities for its joint arrangements are those
Grup menetapkan bahwa aktivitas relevan bagi relating to the operating and capital decisions of the
pengaturan bersama adalah aktivitas yang arrangement, such as: the approval the capital
berhubungan dengan keputusan keuangan, expenditure, and appointing, remunerating and
operasional dan modal dari pengaturan tersebut. terminating the key management personnel or
Pertimbangan-pertimbangan yang dibuat dalam service providers of the joint arrangement. The
menentukan pengendalian bersama adalah sama considerations made in determining joint control are
dengan penentuan pengendalian atas entitas anak. similar to those necessary to determine control over
subsidiaries.
53
Page 203
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 201
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Kepentingan dalam Pengaturan Bersama (lanjutan) Interest in Joint Arrangements (continued)
Pertimbangan juga diperlukan untuk menentukan Judgment is also required to classify a joint
klasifikasi suatu pengaturan bersama, arrangement as either a joint operation or joint
diklasifikasikan sebagai pengaturan bersama atau venture. Classifying the arrangement requires the
ventura bersama. Pengklasifikasian tersebut Group to assess its rights and obligations arising
mengharuskan Grup menilai hak dan kewajibannya from the arrangement. Specifically, the Group
yang timbul dari pengaturan bersama. Secara consider:
khusus, Grup mempertimbangkan:
• Struktur pengaturan bersama - apakah dibentuk • The structure of the joint arrangement - whether
melalui badan hukum terpisah it is structured through a separate vehicle
• Ketika pengaturan bersama dibentuk melalui • When the arrangement is structured through a
badan hukum terpisah, Grup juga separate vehicle, the Group also considers the
mempertimbangkan hak dan kewajiban para rights and obligations arising from:
pihak yang timbul dari:
– Bentuk hukum dari badan hukum terpisah; – The legal form of the separate vehicle;
– Persyaratan pengaturan kontraktual; dan – The terms of the contractual arrangement;
and
– Fakta dan keadaan lainnya, jika relevan. – Other facts and circumstances, when
relevant.
Penilaian ini sering memerlukan pertimbangan yang This assessment often requires significant
signifikan dan kesimpulan yang berbeda baik atas judgment, whether there is a joint control and
kesimpulan mengenai pengendalian bersama dan whether the arrangement is a joint operation or a
apakah suatu pengaturan adalah sebuah operasi joint venture, may materially impact the accounting.
bersama atau ventura bersama, dapat secara
material mempengaruhi perlakuan akuntansinya.
Grup memiliki pengaturan bersama di Operasi The Group has a joint arrangement in the Sarulla
Panas Bumi Sarulla (Grup Kontraktror Geothermal Operation (Joint Operation Contractor
Pengendalian Bersama) yang tidak terstruktur Group) which is not structured through a separate
melalui badan hukum terpisah. Struktur dan vehicle. This structure and the terms of the
persyaratan pengaturan kontrak ini menunjukkan contractual arrangement indicate that the Group
bahwa Grup memiliki hak atas aset dan kewajiban has rights to the assets and obligations for the
untuk liabilitas tersebut. Kesimpulan akhirnya liabilities. At the inception of the joint arrangement,
adalah bahwa pengaturannya berupa operasi the final conclusion was that the arrangement was
gabungan. a joint operation.
Grup memiliki pengaturan bersama di PT The Group have a joint arrangement in PT
Medcopower Solar Sumbawa yang terstruktur Medcopower Solar Sumbawa which structured
melalui badan hukum terpisah. Struktur dan through a separate vehicle. This structure and the
persyaratan pengaturan kontrak ini menunjukkan terms of the contractual arrangement indicate that
bahwa Grup memiliki hak atas aset neto the Group has rights to the net assets of the
pengaturan tersebut. Kesimpulan akhirnya adalah arrangement. The final conclusion was that the
bahwa pengaturannya berupa ventura bersama. arrangement was a joint venture. The investment in
Investasi pada ventura bersama dicatat joint venture is accounted for using the equity
menggunakan metode ekuitas. method.
54
Page 204
2025 Management Business Company Corporate Sustainability
202 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Perpajakan (lanjutan) Taxes (continued)
Ketidakpastian atas interpretasi dari peraturan Uncertainties exist with respect to the interpretation
pajak yang kompleks, perubahan peraturan pajak of complex tax regulations, changes in tax laws,
dan jumlah dan timbulnya penghasilan kena pajak and the amount and timing of future taxable
di masa depan, dapat menyebabkan penyesuaian income, could necessitate future adjustments to tax
di masa depan atas penghasilan dan beban pajak income and expense already recorded.
yang telah dicatat.
Pertimbangan juga dilakukan dalam menentukan Judgment is also involved in determining the
penyisihan atas pajak penghasilan badan. Terdapat provision for corporate income tax. There are
transaksi dan perhitungan tertentu yang penentuan certain transactions and computation for which the
pajak akhirnya adalah tidak pasti dalam kegiatan ultimate tax determination is uncertain during the
usaha normal. ordinary course of business.
Grup mengakui liabilitas atas pajak penghasilan The Group recognizes liabilities for expected
badan berdasarkan estimasi apakah akan terdapat corporate income tax issues based on estimates of
tambahan pajak penghasilan badan. Penjelasan whether additional corporate income tax will be
lebih rinci mengenai pajak penghasilan due. Further details regarding taxation are
diungkapkan dalam Catatan 23. disclosed in Note 23.
Estimasi dan Asumsi Estimates and Assumptions
Asumsi utama masa depan dan sumber utama The key assumptions concerning the future and
ketidakpastian estimasi lain pada tanggal pelaporan other key sources of estimation uncertainty at the
yang memiliki risiko signifikan yang mungkin reporting date that have a significant risk of causing
mengakibatkan penyesuaian yang material a material adjustment to the carrying amounts of
terhadap nilai tercatat aset dan liabilitas untuk assets and liabilities within the next financial year
periode berikutnya diungkapkan di bawah ini. Grup are disclosed below. The Group based its
mendasarkan estimasi dan asumsi pada parameter estimates and assumptions on parameters
yang tersedia pada saat laporan keuangan available when the consolidated financial
konsolidasian disusun. Asumsi dan situasi statements were prepared. Existing circumstances
mengenai perkembangan masa depan tersebut and assumptions about future developments may
mungkin berubah akibat perubahan pasar atau change due to market changes or circumstances
situasi yang timbul di luar kendali Grup. Perubahan arising beyond the control of the Group. Such
tersebut dicerminkan dalam asumsi terkait pada changes in the assumptions are reflected when
saat terjadinya. they occur.
Imbalan Kerja Karyawan Jangka Panjang Long-term Employee Benefits
Beban manfaat pensiun berdasarkan UU No. Retirement benefits expense under Law No.
13/2003 ditentukan dengan menggunakan penilaian 13/2003 is determined using actuarial valuations.
aktuarial. Penilaian aktuarial melibatkan asumsi The actuarial valuation involves assumptions
tentang tingkat diskonto, kenaikan gaji tahunan dan aboutdiscount rates, annual salary increases and
tingkat kematian. Namun dikarenakan sifat jangka mortality rates. Due to the long-term nature of this
panjang dari liabilitas ini, estimasi tersebut adalah obligation, such estimates are subject to significant
subjek dari ketidakpastian yang signifikan. Rincian uncertainty. The details of retirement benefits
atas liabilitas manfaat pensiun diungkapkan pada obligations are discussed in Note 28.
Catatan 28.
Aset Pajak Tangguhan Deferred Tax Assets
Aset pajak tangguhan diakui atas seluruh rugi fiskal Deferred tax assets are recognized to the extent
dan beda temporer yang dapat dikurangkan yang that it is probable that sufficient taxable income will
belum digunakan sepanjang besar be available against which deferred tax assets can
kemungkinannya bahwa penghasilan kena pajak be utilized. However, there is no assurance that the
akan tersedia sehingga rugi fiskal tersebut dapat Company or Subsidiaries will generate sufficient
digunakan. Namun, tidak ada jaminan bahwa taxable income to allow all or part of the deferred
Perusahaan atau entitas anak akan menghasilkan tax assets to be utilized. The Group evaluates their
penghasilan kena pajak yang memadai untuk projected performance in assessing the sufficiency
memungkinkan seluruh atau sebagian aset pajak of future taxable income.
tangguhan dapat digunakan. Grup mengevaluasi
proyeksi kinerja mereka dalam menilai kecukupan
penghasilan kena pajak di masa depan.
55
Page 205
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 203
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Evaluasi atas Penurunan Nilai Aset Evaluation of Asset Impairment
Grup melakukan penelaahan atas aset tetap, The Group review property, plant and equipment,
investasi jangka panjang tertentu dan aset tak certain long term investment and intangible assets
berwujud selain goodwill, untuk penurunan nilai. Ini other than goodwill, for impairment indicators. This
termasuk mempertimbangkan indikasi penurunan includes considering certain indications of
tertentu seperti perubahan signifikan dalam impairment such as significant changes in asset
penggunaan aset, penurunan nilai aset, keusangan usage, significant decline in asset’s market value,
atau kerusakan fisik aset secara signifikan, kinerja obsolescence or physical damage of an asset,
yang kurang signifikan dibandingkan dengan significant underperformance relative to expected
perkiraan hasil operasi masa depan historis dan historical or projected future operating results and
proyeksi dan industri negatif atau tren ekonomi significant negative industry or economic trends.
yang signifikan. Aset tetap, investasi jangka Property, plant and equipment, certain long- and
panjang dan aset tak berwujud selain goodwill diuji intangible assets other than goodwill are tested for
untuk penurunan nilai apabila ada indikasi bahwa impairment when there are indicators that their
jumlah tercatatnya mungkin tidak dapat dipulihkan. carrying amounts may not be recoverable.
Grup juga mengkaji aset keuangan mereka untuk The Group also reviews their financial assets for
penurunan nilai. Hal ini memerlukan perkiraan arus impairment of value. This requires an estimation of
kas masa depan dari piutang dengan bukti the future cash flows from receivables with
penurunan nilai objektif. objective evidence of impairment.
Pengukuran Nilai Wajar Fair Value Measurement
Ketika nilai wajar aset keuangan dan liabilitas When the fair values of financial assets and
keuangan yang tercatat dalam laporan posisi financial liabilities recorded in the consolidated
keuangan konsolidasian tidak dapat diukur statement of financial position cannot be measured
berdasarkan harga yang berlaku di pasar aktif, based on quoted prices in active markets, their fair
maka nilai wajarnya diukur dengan menggunakan value is measured using valuation techniques
teknik penilaian termasuk model discounted cash including the discounted cash flow (“DCF”) model.
flow (“DCF”). Masukan untuk model ini diambil dari The inputs to these models are taken from
pasar yang dapat diamati jika memungkinkan, observable markets where possible, but where this
namun jika hal ini tidak memungkinkan, tingkat is not feasible, a degree of judgement is required in
penilaian diperlukan dalam menetapkan nilai wajar. establishing fair values. Judgements include
Penilaian meliputi pertimbangan input seperti risiko considerations of inputs such as liquidity risk, credit
likuiditas, risiko kredit dan volatilitas. Perubahan risk and volatility. Changes in assumptions about
asumsi mengenai faktor - faktor tersebut dapat these factors could affect the reported fair value of
mempengaruhi nilai wajar instrumen keuangan financial instruments.
yang dilaporkan.
Provisi kerugian kredit ekspektasian atas piutang Provision for expected credit losses of trade
usaha receivables
Penerapan PSAK No. 109 menyebabkan The implementation of PSAK No. 109 resulted in a
perubahan terhadap penilaian signifikan estimasi change to the assessment of the significant
dan asumsi akuntansi terhadap provisi untuk accounting estimates and judgements related to
kerugian kredit ekspektasian atas piutang. Grup provision for expected credit loss of receivables.
menerapkan pendekatan yang disederhanakan The Group applies a simplified approach to
untuk mengukur kerugian kredit ekspektasian yang measure expected credit losses which uses a
menggunakan cadangan kerugian kredit lifetime expected loss allowance for all trade and
ekspektasian seumur hidup untuk seluruh piutang non-trade receivables. In determining expected
usaha. Dalam penentuan kerugian kredit credit losses, management is required to exercise
ekspektasian, manajemen diharuskan untuk judgement in defining what is considered to be a
menggunakan pertimbangan dalam mendefinisikan significant increase in credit risk and in making
apa yang dianggap sebagai kenaikan risiko kredit assumptions and estimates to incorporate relevant
yang signifikan dan dalam pembuatan asumsi dan information about past events, current conditions
estimasi, untuk menghubungkan informasi yang and forecasts of economic conditions. Judgement
relevan tentang kejadian masa lalu, kondisi terkini has been applied in determining the lifetime and
dan perkiraan atas kondisi ekonomi. Pertimbangan point of initial recognition of receivables.
diaplikasikan dalam menentukan periode seumur
hidup dan titik pengakuan awal piutang.
56
Page 206
2025 Management Business Company Corporate Sustainability
204 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Provisi kerugian kredit ekspektasian atas piutang Provision for expected credit losses of trade
usaha (lanjutan) receivables (continued)
Tingkat provisi yang spesifik dievaluasi oleh The level of a specific provision is evaluated by
manajemen dengan dasar faktor-faktor yang management on the basis of factors that affect the
memengaruhi tingkat tertagihnya piutang tersebut. collectibility of the accounts. In these cases, the
Dalam kasus ini, Grup menggunakan pertimbangan Group uses judgement based on the best available
berdasarkan fakta dan kondisi terbaik yang tersedia facts and circumstances, including but not limited to
meliputi tetapi tidak terbatas pada jangka waktu the length of the Group’s relationship with the
hubungan Grup dengan pelanggan dan status customers and the customer’s credit status based
kredit pelanggan berdasarkan laporan dari pihak on third-party credit rating reports and known
ketiga dan faktor-faktor pasar yang telah diketahui, market factors, to record specific reserves for
untuk mencatat pencadangan spesifik untuk customers against amounts due in order to reduce
pelanggan terhadap jumlah jatuh tempo untuk the Group’s receivables to amounts that it expects
mengurangi piutang Grup menjadi jumlah yang to collect. When there is no such available credit
diharapkan tertagih. Ketika tidak ada informasi rating information, using the lowest investment
peringkat kredit yang tersedia, menggunakan grade credit rating is the best estimate for the
peringkat kredit investasi terendah adalah estimasi Group with keeping the historical transactions
terbaik bagi Grup dengan menjaga transaksi between the Group and borrowers.
historis antara Grup dan peminjam.
Menentukan suku bunga pinjaman inkremental Determining the incremental borrowing rate to be
yang digunakan sebagai tingkat diskonto used as discount factor
Dalam menentukan liabilitas sewa Grup, suku In determining the Group’s lease liabilities, the
bunga pinjaman inkremental yang digunakan incremental borrowing rates used as discount
sebagai tingkat diskonto dalam mendiskontokan factors in discounting lease payments have been
pembayaran sewa ditetapkan berdasarkan established based on a consistent approach
pendekatan yang secara konsisten yang reflecting the Group’s borrowing rate, the currency
mencerminkan tingkat pinjaman Grup, mata uang of the liabilities, the duration of the lease term, and
liabilitas, masa sewa, dan rentang kredit untuk the credit spread for the legal entity entering into
badan hukum yang bersepakat dalam kontrak the lease contract.
sewa.
57
Page 207
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 205
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS
Akun ini terdiri dari: This account consists of:
2025 2024
Kas 672.199.386 607.603.043 Cash
Bank Bank
Pihak berelasi Related parties
Rupiah Rupiah
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk (Catatan 8a) *) - 33.578.786.831 Indonesia 1906 Tbk (Note 8a) *)
Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk (Catatan 8a) *) - 46.249.892.268 Indonesia 1906 Tbk (Note 8a) *)
Pihak ketiga Third parties
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk 601.810.953.571 148.372.823.624 PT Bank Mandiri (Persero) Tbk
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 76.923.412.112 37.360.452.683 (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 73.246.597.381 55.105.617.257 (Persero) Tbk
PT Bank Maybank Indonesia Tbk 22.059.425.370 50.527.119 PT Bank Maybank Indonesia Tbk
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk *) 11.552.883.273 - Indonesia 1906 Tbk *)
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 9.161.942.231 22.110.561.285 (Persero) Tbk
The Bank of Tokyo Mitsubishi UFJ, The Bank of Tokyo Mitsubishi
Ltd. 6.757.020.553 1.189.595.554 UFJ, Ltd.
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 6.237.260.416 1.113.923.630 (Persero) Tbk
PT Bank KEB Hana Indonesia 2.105.106.835 216.600.928 PT Bank KEB Hana Indonesia
PT Bank CIMB Niaga Tbk 6.857.286 8.439.786 PT Bank CIMB Niaga Tbk
Dolar Amerika Serikat United States Dollar
The Bank of Tokyo Mitsubishi UFJ, The Bank of Tokyo Mitsubishi
Ltd. 249.011.003.352 20.426.833.247 UFJ, Ltd.
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 126.432.491.888 10.707.325 (Persero) Tbk
PT Bank Mandiri (Persero) Tbk 104.318.990.116 207.552.752.776 PT Bank Mandiri (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 39.624.177.388 10.296.351.523 (Persero) Tbk
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 14.991.784.178 10.053.205.546 (Persero) Tbk
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk *) 4.796.845.043 - Indonesia 1906 Tbk *)
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 1.057.369.377 62.975.072 (Persero) Tbk
PT Bank Maybank Indonesia Tbk 288.391.454 702.290.457 PT Bank Maybank Indonesia Tbk
PT Bank OCBC NISP Tbk 16.614.180 - PT Bank OCBC NISP Tbk
Mizuho Bank, Ltd. 12.260.426 11.632.761 Mizuho Bank, Ltd.
Sub-total 1.350.411.386.430 594.473.969.672 Sub-total
58
Page 208
2025 Management Business Company Corporate Sustainability
206 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)
2025 2024
Deposito berjangka Time deposits
Pihak berelasi Related parties
Rupiah Rupiah
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk (Catatan 8a) *) - 316.500.000.000 Indonesia 1906 Tbk (Note 8a) *)
Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk (Catatan 8a) *) - 662.642.000.000 Indonesia 1906 Tbk (Note 8a) *)
Pihak ketiga Third parties
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk 221.000.000.000 11.000.000.000 PT Bank Mandiri (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 20.000.000.000 31.000.000.000 (Persero) Tbk
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 10.000.000.000 - (Persero) Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk - 20.000.000.000 (Persero) Tbk
Dolar Amerika Serikat United States Dollar
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 401.089.800.000 - (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 352.422.000.000 56.567.000.000 (Persero) Tbk
Sub-total 1.004.511.800.000 1.097.709.000.000 Sub-total
Total 2.355.595.385.816 1.692.790.572.715 Total
*) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk *) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk
tidak lagi diklasifikasikan sebagai pihak berelasi bagi Grup. ceased to be a related party of the Group.
Tingkat suku bunga per tahun untuk deposito Annual interest rates on time deposits:
berjangka:
2025 2024
Rupiah 2,25% - 7,20% 2,25% - 6,50% Rupiah
Dolar Amerika Serikat 4,00% - 5,50% 4,50% - 5,50% United States Dollar
Kas di bank memiliki tingkat suku bunga Cash in banks earns interest at floating rates based
mengambang berdasarkan suku bunga bank on daily bank deposit rates.
harian.
Deposito berjangka ditempatkan untuk berbagai Time deposits are places for varying periods of
periode antara satu (1) sampai tiga (3) bulan between one (1) to three (3) months depending on
tergantung pada kebutuhan kas Grup. the immediate cash requirement of the Group.
Pada tanggal 31 Desember 2025 dan 2024, tidak As of December 31, 2025 and 2024, there are no
ada kas dan setara kas yang dijadikan jaminan atas cash and cash equivalents that are pledged as
utang dan pinjaman lainnya. collateral to loans and others borrowings.
59
Page 209
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 207
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
5. REKENING BANK DAN DEPOSITO BERJANGKA 5. RESTRICTED CASH IN BANKS AND TIME
YANG DIBATASI PENGGUNAANNYA DEPOSIT
Akun ini terdiri dari: This account consists of:
2025 2024
Rekening bank yang dibatasi
penggunaannya Restricted cash in banks
Dolar Amerika Serikat United States Dollar
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 22.671.961.926 12.409.255.359 (Persero) Tbk
Sub-total 22.671.961.926 12.409.255.359 Sub-total
Deposito berjangka yang dibatasi
penggunaannya Restricted time deposit
Rupiah Rupiah
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 20.398.840.000 24.769.935.000 (Persero) Tbk
Total 43.070.801.926 37.179.190.359 Total
Tingkat suku bunga per tahun untuk deposito Annual interest rates on restricted time deposit:
berjangka yang dibatasi penggunaannya:
2025 2024
Rupiah 3,00% - 5,75% 3,75% - 5,00% Rupiah
Bank Periode/ Deskripsi/
Bank Period Description
Deposito berjangka yang dibatasi
penggunaannya (Rupiah)
Restricted time deposit (Rupiah)
PT Bank Rakyat Indonesia (Persero) 31 Desember 2025 dan 31 Jaminan atas penerbitan Bank Garansi untuk
Tbk Desember 2024/ Jaminan Pelaksanaan sehubungan dengan Perjanjian
Operasi dan Pemeliharaan di TJBPS (Catatan 25) /
December 31, 2025 and Underlying for Bank Guarantee issued for
December 31, 2024 Performance Bond in connection with Operation and
Maintenance Agreement in TJBPS. (Note 25).
Saldo bank yang dibatasi
penggunaannya (Dolar AS)
Restricted cash in bank (US Dollar)
PT Bank Syariah Indonesia (Persero) 31 Desember 2025 dan 31 Debt service account untuk pembayaran pokok
Tbk Desember 2024/ pinjaman dan bunga atas fasilitas pembiayaan dari
PT Bank Syariah Indonesia (Persero) Tbk untuk ELB/
(Catatan 38) /
December 31, 2025 and Debt service account for loan principal and interest
December 31, 2024 payments on financing facility from PT Bank Syariah
Indonesia (Persero) Tbk for ELB. (Note 38).
60
Page 210
2025 Management Business Company Corporate Sustainability
208 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
6. PIUTANG USAHA - PIHAK KETIGA 6. TRADE RECEIVABLES - THIRD PARTIES
Akun ini terdiri dari: This account consists of:
a. Berdasarkan Pelanggan a. By Customer
2025 2024
PT PLN (Persero) 220.167.733.704 313.740.226.525 PT PLN (Persero)
PT PLN Batam (Catatan 38) 140.868.462.021 93.143.989.098 PT PLN Batam (Note 38)
PT PLN Tanjung Jati B (Catatan PT PLN Tanjung Jati B (Note
38) 49.776.683.505 23.814.983.625 38)
PT PLN (Persero) Wilayah PT PLN (Persero) Wilayah
Sumatera Selatan, Jambi dan Sumatera Selatan, Jambi dan
Bengkulu (Catatan 38) 42.809.800.568 28.095.369.472 Bengkulu (Note 38)
PT PLN (Persero) Unit Induk PT PLN (Persero) Unit Induk
Distribusi Jawa Barat 5.827.424.688 5.689.040.474 Distribusi Jawa Barat
PT Inti Karya Persada Teknik - 3.428.250.000 PT Inti Karya Persada Teknik
Sub-total 459.450.104.486 467.911.859.194 Sub-total
Aset kontrak 107.919.800.770 65.572.044.236 Contract asset
Total 567.369.905.256 533.483.903.430 Total
Pada tanggal 31 Desember 2025, aset kontrak As of December 31, 2025, contract asset
merupakan akumulasi biaya mobilisasi kontrak represents the unamortised accumulated
O&M Timor dan O&M Sulut yang belum mobilization costs O&M Timor and O&M Sulut
diamortisasi serta pendapatan yang belum and unbilled revenue from contract and
ditagih dari bagian kontrak dan atas incentive fee based on annual operational
pendapatan insentif berdasarkan pencapaian performance.
kinerja operasional tahunan.
Pada tanggal 31 Desember 2024, aset kontrak As of December 31, 2024, contract asset
merupakan akumulasi biaya mobilisasi kontrak represents the unamortised accumulated
O&M Timor yang belum diamortisasi dan mobilization costs O&M Timor and unbilled
pendapatan yang belum ditagih atas revenue for incentive fee based on annual
pendapatan insentif berdasarkan pencapaian operational performance.
kinerja operasional tahunan.
b. Berdasarkan Umur b. By Aging Category
Lancar dan
Telah jatuh tempo dan tidak mengalami penurunan nilai/
tidak
Past due but not impaired
mengalami
penurunan Di antara
nilai/ 91-120 Penurunan
Neither past Kurang dari Di antara Di antara hari/ Lebih dari nilai secara
Total/ due nor 30 hari/ 30-60 hari/ 61-90 hari/ Between 120 hari/ individual/
Total impaired Less than 30 Between Between 91-120 More than Individually
days 30-60 days 61-90 days days 120 days impaired
2025 567.369.905.256 392.706.598.196 141.099.945.241 510.613.418 44.086.836 - 33.008.661.565 - 2025
2024 533.483.903.430 227.287.628.936 122.775.129.687 102.000.738.851 64.058.112.647 421.650.741 16.940.642.568 - 2024
c. Berdasarkan Mata Uang c. By Currency
2025 2024
Dolar Amerika Serikat 237.766.332.327 319.411.876.273 United States Dollar
Rupiah 329.603.572.929 214.072.027.157 Rupiah
Total 567.369.905.256 533.483.903.430 Total
Berdasarkan penelaahan status akun piutang Based on review of trade receivables and contract
usaha dan aset kontrak pada akhir tahun, assets at the end of the year, management is of the
manajemen berpendapat bahwa seluruh piutang opinion that trade receivables and contract assets
dagang dan aset kontrak dapat direalisasikan dan are realizable and no provision for impairment loss
tidak ada penyisihan kerugian penurunan nilai yang is necessary to be provided as of December 31,
diperlukan pada tanggal 31 Desember 2025 dan 2025 and 2024.
2024.
61
Page 211
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 209
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
7. PIUTANG LAIN-LAIN - PIHAK KETIGA 7. OTHER RECEIVABLES - THIRD PARTIES
Akun ini terdiri dari: This account consists of:
a. Berdasarkan Pihak/Jenis a. By Party/Nature
2025 2024
Bagian jangka pendek Current portion
PT Sangsaka Hidro Tiara 75.613.751.136 75.604.438.600 PT Sangsaka Hidro Tiara
Piutang bunga 6.925.141.995 2.885.341.292 Interest receivables
Receivables from employees 6.702.534.309 3.808.974.963 Receivables from employees
Ratch Group PCL 1.538.311.961 2.305.121.250 Ratch Group PCL
Klaim asuransi 152.917.724 176.553.280 Insurance claims
PT PLN Tanjung Jati B 100.792.461 323.463.880 PT PLN Tanjung Jati B
Lain-lain 1.610.026.121 1.118.402.789 Others
Total 92.643.475.707 86.222.296.054 Total
Penyisihan atas kerugian kredit Allowance for expected credit
ekspektasian (37.632.994.410) (37.632.994.410) losses
Neto 55.010.481.297 48.589.301.644 Net
Bagian jangka panjang Long-term portion
PT Universal Gas Energy PT Universal Gas Energy
("UGE") 220.448.259.598 117.891.765.038 ("UGE")
Piutang dari karyawan 4.551.224.110 3.578.311.762 Receivables from employees
Total 224.999.483.708 121.470.076.800 Total
Penyisihan atas kerugian kredit Allowance for expected credit
ekspektasian - - losses
Neto 224.999.483.708 121.470.076.800 Net
b. Berdasarkan Umur b. By Aging Category
Lancar dan Telah jatuh tempo dan tidak mengalami penurunan nilai/
tidak Past due but not impaired
mengalami
penurunan Penurunan
nilai/ Kurang dari Di antara Di antara Di antara Lebih dari nilai secara
Neither past 30 hari/ 30-60 hari/ 61-90 hari/ 91-120 hari/ 120 hari/ individual/
Total/ due nor Less than 30 Between Between Between More than Individually
Total impaired days 30-60 days 61-90 days 91-120 days 120 days impaired
2025 317.642.959.415 273.819.636.473 6.190.328.532 - - - - 37.632.994.410 2025
2024 207.692.372.854 160.818.717.589 7.716.568.578 1.524.092.277 - - - 37.632.994.410 2024
c. Berdasarkan Mata Uang c. By Currency
2025 2024
Rupiah 203.679.284.168 166.812.216.426 Rupiah
Dolar Amerika Serikat 102.739.280.317 31.304.730.863 United States Dollar
Euro 11.224.394.930 9.575.425.565 Euro
Total 317.642.959.415 207.692.372.854 Total
Penyisihan atas kerugian kredit Allowance for expected credit
ekspektasian (37.632.994.410) (37.632.994.410) losses
Neto 280.009.965.005 170.059.378.444 Net
62
Page 212
2025 Management Business Company Corporate Sustainability
210 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
7. PIUTANG LAIN-LAIN - PIHAK KETIGA (lanjutan) 7. OTHER RECEIVABLES - THIRD PARTIES
(continued)
Akun ini terdiri dari: (lanjutan) This account consists of: (continued)
Mutasi atas penyisihan atas kerugian kredit The movements in the allowance for expected
ekspektasian adalah sebagai berikut: credit losses are as follows:
2025 2024
Saldo awal tahun 37.632.994.410 39.134.031.980 Balance at beginning of year
Penghapusan tahun berjalan - (1.501.037.570) Write-off during the year
Total 37.632.994.410 37.632.994.410 Total
Piutang dari UGE, pemegang saham UBE, Receivables from UGE, a shareholder of UBE,
merupakan uang muka yang dikeluarkan oleh represent advances made by the Group on behalf
Group atas nama UGE kepada UBE (pemegang of UGE to UBE (the majority shareholder of ELB)
saham mayoritas ELB) dan ELB untuk and ELB for the construction of the Tanjung
pembangunan pembangkit listrik Tanjung Uncang. Uncang power plant. The receivables are secured
Piutang tersebut dijamin dengan 30% kepemilikan by the 30% share ownership of UGE in UBE. The
saham UGE di UBE. Piutang tersebut akan receivables will be settled at the latest 14 years
diselesaikan paling lambat 14 tahun setelah tanggal after the commercial operation date (“COD”) of the
operasi komersial (“COD”) proyek. projects.
Piutang dari PT Sangsaka Hidro Tiara (“SHT”), Receivables from PT Sangsaka Hidro Tiara
pemegang saham SAL, merupakan uang muka (“SHT”), a shareholder of SAL, represent advances
yang dikeluarkan oleh Perusahaan atas nama SHT made by the Company on behalf of SHT to SAL
kepada SAL dan entitas anaknya untuk and its subsidiaries for the construction of the mini-
pembangunan pembangkit listrik tenaga mini-hidro. hydro power plant. The receivable is secured by the
Piutang tersebut dijamin dengan kepemilikan share ownership of SHT in SAL. The receivables
saham SHT di SAL. Piutang tersebut akan will be settled at the latest 4 years after COD of the
diselesaikan selambat-lambatnya 4 tahun setelah projects.
COD proyek.
Klaim asuransi merupakan klaim yang berkaitan Insurance claims represent claims related to
dengan asuransi karyawan serta klaim atas employee insurance and claims for damage to
kerusakan peralatan pembangkit pada entitas anak. power plant equipment at subsidiaries.
Piutang karyawan merupakan pinjaman yang tidak Receivables from employees represent non-interest
dikenakan bunga yang diberikan kepada karyawan. bearing loans granted to employees. These
Piutang ini dibayarkan melalui pemotongan gaji receivables are collected through monthly payroll
setiap bulan. deductions.
Porsi jangka panjang dari piutang lain-lain - pihak Long-term portion of other receivables - third
ketiga merupakan piutang karyawan yang jatuh parties represent receivables from employees
tempo dalam 2-5 tahun. which is due in 2-5 years.
Piutang dari PT PLN Tanjung Jati B merupakan Receivable from PT PLN Tanjung Jati B represents
piutang yang tidak dikenakan bunga sehubungan non-interest bearing receivables related to the
dengan pembelian suku cadang oleh TJBPS. purchase of spare parts carried by TJBPS.
Piutang bunga terutama merupakan bunga yang Interest receivables mainly represent interest
masih harus diterima atas penempatan deposito accrued on time deposits that have not yet
berjangka yang belum jatuh tempo. matured.
Piutang dari Ratch Group PCL timbul dari klaim Receivables from Ratch Group PCL arise from
penggantian biaya operasional yang telah claims for reimbursement of operational expenses
dikeluarkan terlebih dahulu oleh Grup atas aktivitas that have been initially paid by the Group on behalf
operasional Ratch Group PCL. of Ratch Group PCL.
Berdasarkan penelaahan status akun piutang lain- Based on the review of other receivables accounts
lain pada tanggal 31 Desember 2025 dan 2024, as of December 31, 2025 and 2024, management
manajemen berpendapat bahwa penyisihan is of the opinion that the allowance for impairment
kerugian nilai piutang lain-lain cukup untuk loss on other receivable is adequate to cover
menutupi kemungkinan kerugian atas tidak possible losses on uncollectible accounts.
tertagihnya akun-akun tersebut.
Pada tanggal 31 Desember 2025 dan 2024, tidak As of December 31, 2025 and 2024, there are no
ada piutang lain-lain yang digunakan sebagai other receivables that are pledged as collaterals for
jaminan atas utang atau pinjaman lainnya. loans and other borrowings.
63
Page 213
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 211
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI RELATED PARTIES
Grup, dalam kegiatan usaha normal, melakukan The Group, in the regular conduct of business,
transaksi dengan pihak berelasi, umumnya terdiri have engaged in transactions with related parties
dari penjualan, uang muka dan beban, jasa principally consisting of sales, intercompany
manajemen dan jasa teknis serta fasilitas advances and charges, management and technical
perbankan. Piutang dan utang tidak dijamin, service and banking facilities. The related
diselesaikan secara tunai dan tidak dikenakan receivables and payables are unsecured, settled in
bunga, kecuali dinyatakan lain. Transaksi ini cash and non-interest bearing, unless otherwise
dilakukan berdasarkan persyaratan yang disetujui stated. The transactions are made based on terms
oleh kedua belah pihak. Beberapa persyaratan agreed by the parties. Such terms may not be the
tersebut mungkin tidak sama dengan persyaratan same as those of the transactions between
yang dilakukan dengan pihak-pihak yang tidak unrelated parties.
berelasi.
a. Kas dan setara kas a. Cash and cash equivalents
Grup memiliki rekening bank dan deposito The Group maintain bank accounts and time
berjangka pada PT Bank Woori Saudara deposits with PT Bank Woori Saudara
Indonesia 1906 Tbk (Catatan 4). Namun, PT Indonesia 1906 Tbk (Note 4). However, PT
Bank Woori Saudara Indonesia 1906 Tbk tidak Bank Woori Saudara Indonesia 1906 Tbk is no
lagi diklasifikasikan sebagai pihak berelasi longer classified as a related party to the
bagi Grup sejak 2025. Group starting in 2025.
b. Piutang usaha b. Trade receivables
Akun ini terdiri dari: This account consists of:
2025 2024
Sarulla Operations Ltd. (Catatan Sarulla Operations Ltd. (Note
38) 21.029.512.028 30.124.429.334 38)
Total 21.029.512.028 30.124.429.334 Total
c. Piutang lain-lain c. Other receivables
Akun ini terdiri dari: This account consists of:
2025 2024
Pacific Medco Solar Energy Pte Pacific Medco Solar Energy Pte
Ltd 71.676.670.113 62.710.869.152 Ltd
PT Medcopower Solar PT Medcopower Solar
Sumbawa 6.178.086.968 9.075.123.605 Sumbawa
Sarulla Geothermal Operation Sarulla Geothermal Operation
(Grup Kontraktor (Joint Operation Contractor
Pengendalian Bersama) Group) (Note 38)
(Catatan 38) 6.130.600.000 6.130.600.000
PT Medco Geopower Sarulla 2.200.218.761 1.731.444.761 PT Medco Geopower Sarulla
PT Medco E & P Indonesia 462.365.312 7.295.000 PT Medco E & P Indonesia
PT Medco Energi Nusantara 6.000.000 6.000.000 PT Medco Energi Nusantara
PT Medco Daya Abadi Lestari PT Medco Daya Abadi Lestari
("MDAL") - 64.802.730.000 ("MDAL")
Total 86.653.941.154 144.464.062.518 Total
Dikurangi bagian tidak lancar 6.136.600.000 6.143.895.000 Less non-current portion
Bagian lancar 80.517.341.154 138.320.167.518 Current portion
64
Page 214
2025 Management Business Company Corporate Sustainability
212 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
c. Piutang lain-lain (lanjutan) c. Other receivables (continued)
Piutang dari Pacific Medco Solar Energy Pte Receivables from Pacific Medco Solar Energy
Ltd. merupakan uang muka untuk aktivitas Pte Ltd. represent advances for operational
operasional yang dibayarkan oleh Perusahaan activities paid by the Company in connection
sehubungan dengan proyek Pulau Bulan. with Pulau Bulan Project.
Piutang dari PT Medcopower Solar Sumbawa Receivables from PT Medcopower Solar
merupakan uang muka untuk aktivitas Sumbawa represent advances for operational
operasional yang dibayarkan oleh Perusahaan activities paid by the Company in connection
sehubungan dengan proyek PLTS Sumbawa. with Sumbawa PV power plant.
Piutang dari GKPB terutama merupakan Receivable from JOCG mainly represent
pengeluaran yang dapat diganti yang reimbursable expenditures advanced by the
dibayarkan di muka oleh Perusahan Company in connection with Sarulla
sehubungan dengan proyek Tenaga Panas Geothermal Power Project.
Bumi Sarulla.
Piutang dari PT Medco Geopower Sarulla Receivables from PT Medco Geopower
merupakan uang muka atas aktivitas Sarulla represent advances for operational
operasional PT Medco Geopower Sarulla yang activities of PT Medco Geopower Sarulla paid
dibayarkan oleh Perusahaan. by the Company.
Pada tahun 2024, piutang dari PT Medco In 2024, receivable from PT Medco Daya
Daya Abadi Lestari (“MDAL”) merupakan Abadi Lestari (“MDAL”) represents the
piutang atas penjualan 2% kepemilikan saham receivable on the sale of the 2% of MGeoPS
MGeoPS Perusahaan ke MDAL. Piutang ini shares of the Company to MDAL. The
telah diselesaikan pada tahun 2025. receivable has been settled in 2025.
Berdasarkan penelaahan status akun piutang Based on the review of other receivables as of
lain-lain pada tanggal 31 Desember 2025 dan December 31, 2025 and 2024, management is
2024, manajemen berpendapat bahwa seluruh of the opinion that all of other receivables can
piutang lain-lain tersebut dapat ditagih. be fully collected.
d. Utang kepada pihak berelasi d. Due to related parties
Akun ini terdiri dari: This account consists of:
2025 2024
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 17.700.588.866 12.428.770.287 Tbk
PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 9.458.018.498 2.379.402.197 ("SRB")
PT Medcopower Solar PT Medcopower Solar
Sumbawa 1.085.735.291 - Sumbawa
Sarulla Operations Ltd 123.053.790 132.473.223 Sarulla Operations Ltd
PT Medco Energi Nusantara 78.000.000 78.000.000 PT Medco Energi Nusantara
PT Api Metra Graha 8.750.584 3.382.935.689 PT Api Metra Graha
Total 28.454.147.029 18.401.581.396 Total
Utang kepada pihak berelasi merupakan uang The amount payable to related parties
muka dan biaya untuk kegiatan operasional represents advances and charges for
yang dibayarkan oleh pihak berelasi atas operational activities paid by related parties on
nama Perusahaan. behalf of the Company.
e. Pinjaman jangka panjang e. Long-term debt
Akun ini merupakan saldo terutang oleh Grup This account represents the outstanding
dari Fasilitas Modal Kerja dengan PT Bank balance of the availments by the Group from
Woori Saudara Indonesia 1906 Tbk (“BWS”). the Working Capital Facility with PT Bank
Tidak ada saldo terutang pinjaman jangka Woori Saudara Indonesia 1906 Tbk (“BWS”).
panjang pada tanggal 31 Desember 2025 dan There is no outstanding balance of long-term
saldo terutang pinjaman jangka panjang debt as of December 31, 2025 and the
dengan BWS hanya terdapat pada tanggal 31 outstanding balance of long-term debt with
Desember 2024 (Catatan 25). BWS is only as of December 31, 2024 (Note
25).
65
Page 215
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 213
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
pihak-pihak berelasi. related parties.
2025
Persentase terhadap
jumlah terkait (%)/
Jumlah/ Percentage to
Amount related totals (%)
Aset Assets
Piutang usaha Trade receivables
Sarulla Operations Ltd. Sarulla Operations Ltd. (Note
(Catatan 38) 21.029.512.028 0,103 38)
Piutang lain-lain Other receivables
Pacific Medco Solar Energy Pacific Medco Solar Energy
Pte Ltd 71.676.670.113 0,352 Pte Ltd
PT Medcopower Solar PT Medcopower Solar
Sumbawa 6.178.086.968 0,030 Sumbawa
Sarulla Geothermal Operation
(Grup Kontraktor Sarulla Geothermal Operation
Pengendalian Bersama) (Joint Operation Contractor
(Catatan 38) 6.130.600.000 0,030 Group) (Note 38)
PT Medco Geopower Sarulla 2.200.218.761 0,011 PT Medco Geopower Sarulla
PT Medco E & P Indonesia 462.365.312 0,002 PT Medco E & P Indonesia
PT Medco Energi Nusantara 6.000.000 0,000 PT Medco Energi Nusantara
Liabilitas Liabilities
Utang kepada pihak berelasi Due to related parties
PT Medco Energi PT Medco Energi
Internasional Tbk 17.700.588.866 0,132 Internasional Tbk
PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 9.458.018.498 0,071 ("SRB")
PT Medcopower Solar PT Medcopower Solar
Sumbawa 1.085.735.291 0,008 Sumbawa
Sarulla Operations Ltd 123.053.790 0,001 Sarulla Operations Ltd
PT Medco Energi Nusantara 78.000.000 0,001 PT Medco Energi Nusantara
PT Api Metra Graha 8.750.584 0,000 PT Api Metra Graha
Transaksi Transactions
Pendapatan usaha Revenue
Sarulla Operations Ltd 129.343.156.004 4,411 Sarulla Operations Ltd
PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 192.000.000 0,007 Tbk
Beban operasional Operating expense
PT Api Metra Graha 15.129.329.615 2,213 PT Api Metra Graha
PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 6.982.184.738 1,022 Tbk
PT Satria Raksa Buminusa 64.415.104.806 9,424 PT Satria Raksa Buminusa
66
Page 216
2025 Management Business Company Corporate Sustainability
214 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued)
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
pihak-pihak berelasi. (lanjutan) related parties. (continued)
2024
Persentase terhadap
jumlah terkait (%)/
Jumlah/ Percentage to
Amount related totals (%)
Aset Assets
Kas dan setara kas Cash and cash equivalents
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk *) 1.058.970.679.099 5,752 Indonesia 1906 Tbk *)
Piutang usaha Trade receivables
Sarulla Operations Ltd. (Catatan
38) 30.124.429.334 0,164 Sarulla Operations Ltd. (Note 38)
Piutang lain-lain Other receivables
PT Medco Daya Abadi Lestari PT Medco Daya Abadi Lestari
("MDAL") 64.802.730.000 0,352 ("MDAL")
Pacific Medco Solar Energy Pte Pacific Medco Solar Energy Pte
Ltd 62.710.869.152 0,341 Ltd
PT Medcopower Solar
Sumbawa 9.075.123.605 0,049 PT Medcopower Solar Sumbawa
Sarulla Geothermal Operation
(Grup Kontraktor Sarulla Geothermal Operation
Pengendalian Bersama) (Joint Operation Contractor
(Catatan 38) 6.130.600.000 0,033 Group) (Note 38)
PT Medco Geopower Sarulla 1.731.444.761 0,009 PT Medco Geopower Sarulla
PT Medco E & P Indonesia 7.295.000 0,000 PT Medco E & P Indonesia
PT Medco Energi Nusantara 6.000.000 0,000 PT Medco Energi Nusantara
Liabilitas Liabilities
Utang kepada pihak berelasi Due to related parties
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 12.428.770.287 0,106 Tbk
PT Api Metra Graha 3.382.935.689 0,029 PT Api Metra Graha
PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 2.379.402.197 0,020 ("SRB")
Sarulla Operations Ltd 132.473.223 0,001 Sarulla Operations Ltd
PT Medco Energi Nusantara 78.000.000 0,001 PT Medco Energi Nusantara
Pinjaman jangka panjang Long-term debt
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk *) 52.526.500.000 0,444 Indonesia 1906 Tbk *)
67
Page 217
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 215
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued)
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
pihak-pihak berelasi. (lanjutan) related parties. (continued)
2024
Persentase terhadap
jumlah terkait (%)/
Jumlah/ Percentage to
Amount related totals (%)
Transaksi Transactions
Pendapatan usaha Revenue
Sarulla Operations Ltd 125.474.653.214 3,836 Sarulla Operations Ltd
PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 192.000.000 0,006 Tbk
PT Medco E & P Lematang 162.049.958 0,005 PT Medco E & P Lematang
Beban pokok pendapatan Cost of revenues
PT Exspan Petrogas Intranusa 43.837.579.078 2,110 PT Exspan Petrogas Intranusa
Beban operasional Operating expense
PT Api Metra Graha 15.719.130.921 2,574 PT Api Metra Graha
PT Satria Raksa Buminusa 11.479.275.728 0,553 PT Satria Raksa Buminusa
PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 497.303.908 0,082 Tbk
Beban bunga Interest expense
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk *) 1.958.428.511 0,285 Indonesia 1906 Tbk *)
2025 2024
Pendapatan Revenues
Sarulla Operations Ltd. 129.343.156.004 125.474.653.214 Sarulla Operations Ltd.
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 192.000.000 192.000.000 Tbk
PT Medco E & P Lematang - 162.049.958 PT Medco E & P Lematang
Beban Expenses
PT Satria Raksa Buminusa 64.415.104.806 11.479.275.728 PT Satria Raksa Buminusa
PT Api Metra Graha 15.129.329.615 15.719.130.921 PT Api Metra Graha
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 6.982.184.738 497.303.908 Tbk
PT Exspan Petrogas Intranusa - 43.837.579.078 PT Exspan Petrogas Intranusa
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk *) - 1.958.428.511 Indonesia 1906 Tbk *)
68
Page 218
2025 Management Business Company Corporate Sustainability
216 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued)
Rincian pihak berelasi dan sifat hubungan dan The related parties and the nature of
jenis transaksi signifikan antara Grup dengan significant transactions between the Group
pihak berelasi adalah sebagai berikut: and related parties are as follows:
Pihak berelasi/ Sifat Hubungan/ Jenis transaksi/ Nature of
Related Party Nature of Relationship Transactions
PT Medco Daya Abadi Lestari Entitas induk tidak langsung dari Penjualan kepemilikan saham/
Perusahaan/ Indirect parent entity of the Sale of shares
Company
PT Medco Energi Internasional Tbk Entitas induk langsung dari Perusahaan/ Uang muka/ Advances
Direct parent entity of the Company
PT Bank Woori Saudara Indonesia 1906 Pihak berelasi yang memiliki pemegang Penempatan dan fasilitas
Tbk *) saham yang sama dengan Perusahaan/ kredit/ Fund placement and
Related party having the same credit facilities
shareholder as the Company
PT Medco Energi Nusantara Pihak berelasi yang memiliki pemegang Uang muka/ Advances
saham yang sama dengan Perusahaan/
Related party having the same
shareholder as the Company
PT Medco E & P Lematang Pihak berelasi yang memiliki pemegang Penjualan listrik/ Sales of
saham yang sama dengan Perusahaan/ electric power
Related party having the same
shareholder as the Company
PT Api Metra Graha Pihak berelasi yang memiliki pemegang Sewa/ Rent
saham yang sama dengan Perusahaan/
Related party having the same
shareholder as the Company
PT Exspan Petrogas Intranusa Pihak berelasi yang memiliki pemegang Jasa pengeboran panas bumi/
saham yang sama dengan Perusahaan/ Geothermal drilling services
Related party having the same
shareholder as the Company
Sarulla Operations Ltd. Ventura bersama/Joint venture Jasa operasi dan
pemeliharaan/Operation and
maintenance services
Sarulla Geothermal Operation (Grup Ventura bersama/ Joint venture Uang muka/ Advances
Kontraktor Pengendalian Bersama)
("GKPB")/Sarulla Geothermal Operation
(Joint Operation Contractor Group)
("JOCG")
PT Medco E & P Indonesia Pihak berelasi yang memiliki pemegang Uang muka/ Advances
saham yang sama dengan Perusahaan/
Related party having the same
shareholder as the Company
PT Satria Raksa Buminusa Pihak berelasi yang memiliki pemegang Jasa keamanan/ Security
saham yang sama dengan Perusahaan/ services
Related party having the same
shareholder as the Company
Pacific Medco Solar Energy Pte Ltd. Ventura bersama/ Joint venture Uang muka/ Advances
PT Medco Geopower Sarulla Entitas asosiasi/Associate entity Uang muka/Advances
PT Medcopower Solar Sumbawa Ventura bersama/Joint venture Uang muka/Advances
*) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 *) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk
Tbk tidak lagi diklasifikasikan sebagai pihak berelasi bagi Grup. ceased to be a related party of the Group.
69
Page 219
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 217
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
g. Gaji dan remunerasi lainnya g. Salaries and other remuneration
Gaji dan remunerasi lainnya dari manajemen Salaries and other remuneration of the key
kunci untuk tahun yang berakhir 31 Desember management personnel for the years ended
2025 dan 2024 adalah sebagai berikut: December 31, 2025 and 2024 are as follows:
2025 2024
Imbalan jangka pendek 29.077.845.810 32.598.735.693 Short-term employee benefits
Provisi imbalan pasca kerja Provision for employee service
4.051.961.000 3.834.386.000 entitlements
Imbalan pesangon - 2.615.608.607 Termination benefit
Total 33.129.806.810 39.048.730.300 Total
9. PERSEDIAAN 9. INVENTORIES
Akun ini terdiri dari: This account consists of:
2025 2024
Suku cadang 68.222.341.442 65.866.471.033 Spare parts
Barang habis pakai 36.213.302.249 33.950.437.255 Consumables
Total 104.435.643.691 99.816.908.288 Total
Rincian persediaan yang telah digunakan dan The details of inventories used and expensed are
dibebankan adalah sebagai berikut: (Catatan 33) as follows: (Note 33)
2025 2024
Suku cadang 20.776.340.173 21.900.369.790 Spare parts
Barang habis pakai 40.539.668.167 32.047.673.104 Consumables
Total 61.316.008.340 53.948.042.894 Total
Berdasarkan hasil penelaahan terhadap harga Based on a review of the market prices and
pasar dan kondisi fisik persediaan pada tanggal physical conditions of the inventories at the
pelaporan, manajemen berkeyakinan bahwa tidak reporting dates, management is of the opinion that
terdapat penurunan nilai persediaan. no impairment on inventories has occurred.
Pada tanggal 31 Desember 2025 dan 2024, tidak As of December 31, 2025 and 2024, there are no
ada persediaan yang dijadikan jaminan atas utang inventories that are pledged as collateral to loans
dan pinjaman lainnya. and other borrowings.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the Group’s
persediaan Grup telah diasuransikan terhadap inventories are covered by insurance against
risiko kerugian akibat kebakaran, banjir, gempa losses by fire, flood, earthquake and other risks
bumi dan risiko lainnya (Catatan 18). Menurut (Note 18). In the opinion of the management, the
pendapat manajemen, nilai pertanggungan tersebut insurance coverage is adequate to cover possible
cukup untuk menutup kemungkinan kerugian atas losses that may arise from such risks.
risiko-risiko tersebut.
10. PAJAK DIBAYAR DI MUKA 10. PREPAID TAXES
Akun ini terdiri dari lebih bayar pajak pertambahan This account represents value added tax
nilai yang dikompensasikan ke masa pajak overpayment which are compensated into the next
berikutnya. tax period.
70
Page 220
2025 Management Business Company Corporate Sustainability
218 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
11. PIUTANG SEWA PEMBIAYAAN 11. FINANCE LEASE RECEIVABLES
Berdasarkan evaluasi manajemen, syarat Based on management’s evaluation, the terms of
Perjanjian Jual Beli Tenaga Listrik antara DEB, the Power Purchase Agreement between DEB,
MEB dan ELB dengan PLN Batam (Catatan 38), MEB and ELB with PLN Batam (Note 38), EPE and
EPE dan MPE dengan PT PLN WS2JB (Catatan MPE with PT PLN WS2JB (Note 38) and BJI and
38) dan BJI dan PPP dengan PT PLNUIDJB PPP with PT PLNUIDJB (Note 38) contain a lease
(Catatan 38) mengandung sewa dan mencakup and covering most of the economic life of the asset
sebagian besar umur ekonomi aset dan pada awal and at the beginning of the lease, the present value
sewa, nilai kini dari total pembayaran sewa of the total minimum lease payments substantially
minimum secara substansial mendekati nilai wajar approximates the fair value of the leased asset.
aset sewaan, sehingga Grup membukukan Accordingly, the Group recognized the transaction
transaksi tersebut sebagai sewa pembiayaan as finance lease as follows:
sebagai berikut:
2025 2024
Kurang dari satu tahun 517.810.143.956 385.226.993.772 Within one year
Lebih dari satu tahun sampai lima After one year but not more than
tahun 1.854.039.212.124 943.325.583.610 five years
Lebih dari lima tahun 3.926.556.141.339 1.088.430.308.359 More than five years
Total pembayaran sewa
minimum 6.298.405.497.419 2.416.982.885.741 Total minimum lease payments
Dikurangi pendapatan keuangan Less amounts representing
yang belum diterima 3.466.032.542.248 1.040.624.900.590 unearned finance income
Piutang sewa pembiayaan - neto 2.832.372.955.171 1.376.357.985.151 Finance lease receivables - net
Dikurangi bagian yang akan jatuh
tempo dalam satu tahun - neto (204.813.430.812) (223.035.633.301) Less current maturities - net
Bagian jangka panjang 2.627.559.524.359 1.153.322.351.850 Non-current portion
Pada tanggal 31 Desember 2025 dan 2024, piutang As of December 31, 2025 and 2024, all finance
sewa pembiayaan telah diasuransikan kepada lease receivables were insured with various
berbagai perusahaan asuransi (Catatan 18). insurance companies (Note 18). Management
Manajemen memiliki keyakinan bahwa nilai believes that the insurance coverage is adequate to
pertanggungan cukup untuk menutupi kemungkinan cover possible losses on the assets insured.
kerugian atas aset yang dipertanggungkan.
Perhitungan nilai kini pembayaran sewa minimum The present value of the minimum lease payments
tersebut menggunakan suku bunga implisit sebesar uses an implicit interest rate of 3% - 50% per
3% - 50% per tahun sesuai dengan estimasi annum in accordance with the estimated invoices to
tagihan yang akan diterbitkan sepanjang masa be issued over the life of the contract and the
kontrak dan biaya investasi pada masing-masing investment costs of each plant.
pembangkit.
Pada tanggal 6 Maret 2025, PT DEB dan PLN On March 6, 2025, PT DEB and PLN Batam have
Batam telah menandatangani amendemen signed an amendment to the Power Purchase
Perjanjian Pembelian Tenaga Listrik untuk Agreement (PPA) to change several key provisions,
mengubah beberapa ketentuan utama, termasuk including adjustments to the electricity selling price
penyesuaian harga jual listrik dan perpanjangan and extension of the generator operating period
masa operasi pembangkit sampai dengan tanggal until March 31, 2030.
31 Maret 2030.
Pada tanggal 8 November 2025, PT ELB dan PLN On November 8, 2025, PT ELB and PLN Batam
Batam telah menandatangani Berita Acara COD signed the Minutes of COD of Additional Unit based
Unit Tambahan berdasarkan amendemen on the amendment to the Power Purchase
Perjanjian Pembelian Tenaga Listrik, yang mana Agreement, which includes an extension of the
termasuk perpanjangan masa operasi pembangkit operating period of the existing power plant for 10
yang sudah ada selama 10 (sepuluh) tahun sesuai (ten) years as inaccordance with the operating
masa operasi Unit Tambahan. period of the Additional Unit.
Sehubungan dengan COD Unit Tambahan In connection with the COD of the Additional Unit of
Pembangkit PT ELB, Perseroan memindahkan PT ELB Power Plant, the Company transferred the
akumulasi biaya konstruksi terkait sebesar related accumulated construction costs amounting
Rp1.164.661.511.790 sebagai piutang sewa to Rp1,164,661,511,790 as finance lease
pembiayaan, yang terpisah dari pembangkit yang receivables, whcih is separated from the existing
sudah ada. power plant.
71
Page 221
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 219
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
11. PIUTANG SEWA PEMBIAYAAN (lanjutan) 11. FINANCE LEASE RECEIVABLES (continued)
Selisih pengukuran kembali aset sewa pembiayaan The difference in remeasurement of finance lease
akibat perpanjangan masa operasi pembangkit PT assets due to the extension of the operating period
DEB dan PT ELB dengan provisi kewajiban of PT DEB and PT ELB power plants with the
overhaul dan pemeliharaan besar selama periode provision for major repairs and maintenance
perpanjangan, dengan total sebesar obligations during the extension period, amounting
Rp86.060.247.410, diakui sebagai keuntungan atas to Rp86,060,247,410, is recognized as a gain on
modifikasi aset keuangan dan disajikan dalam modification of financial assets and presented in
pendapatan lain-lain pada laporan laba rugi dan other income in the consolidated statement of profit
penghasilan komprehensif konsolidasian untuk or loss and comprehensive income for the year
tahun yang berakhir pada 31 Desember 2025 ended December 31, 2025 (Note 35).
(Catatan 35).
Untuk tahun yang berakhir pada 31 Desember 2025 For the year ended December 31, 2025 and 2024,
dan 2024, manajemen mencatat kerugian piutang management recorded loss for the impairment of
sewa pembiayaan sehubungan dengan terjadinya finance lease receivables due to decrease of the
penurunan pengiriman listrik pada tahun berjalan current year electricity delivered and the expected
dan ekspektasi pada tahun-tahun berikutnya delivery electricity in the future years each
masing-masing sebesar Rp18.119.066.947 dan amounted to Rp18,119,066,947 and
Rp132.929.790.599 (Catatan 36). Rp132,929,790,599 (Note 36).
Berdasarkan penelaahan status akun piutang sewa Based on review of financial lease receivables at
pembiayaan pada akhir tahun, manajemen the end of the year, management is of the opinion
berpendapat bahwa kerugian penurunan nilai yang that the impairment loss recognized for the years
diakui untuk tahun yang berakhir pada tanggal 31 ended December 31, 2025 and 2024 are adequate
Desember 2025 dan 2024 cukup untuk menutupi to cover possible losses and the carrying amount of
kemungkinan kerugian dan jumlah tercatat piutang the financial lease receivables as of December 31,
sewa pembiayaan pada tanggal 31 Desember 2025 2025 and 2024 are realizable.
dan 2024 dapat direalisasikan.
12. BEBAN DIBAYAR DI MUKA DAN UANG MUKA 12. PREPAID EXPENSES AND ADVANCES
Akun ini terdiri dari: This account consists:
2025 2024
Uang muka untuk proyek 14.011.108.463 218.538.201.331 Advances for project
Asuransi dibayar di muka 30.241.415.270 14.402.691.520 Prepaid Insurance
Sewa fasilitas dibayar di muka 9.561.080.788 6.338.993.861 Prepaid rental facilities
Lain-lain 1.243.612.660 1.753.198.181 Others
Total 55.057.217.181 241.033.084.893 Total
Uang muka untuk proyek terutama merupakan Advances for project mainly represents advance
uang muka yang dibayarkan kepada pihak ketiga payment to third parties in respect of potential
sehubungan dengan investasi potensial yang investments which are under review by the Group.
sedang ditinjau oleh Grup.
Asuransi dibayar di muka terutama terdiri dari Prepaid insurance mainly consists of prepaid
asuransi dibayar di muka untuk aset tetap. insurance for property, plant and equipment.
72
Page 222
2025 Management Business Company Corporate Sustainability
220 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
13. ASET KEUANGAN KONSESI 13. CONCESSION FINANCIAL ASSETS
Berdasarkan evaluasi manajemen, syarat pada Based on management evaluation, the terms of the
Perjanjian Jual Beli Tenaga Listrik antara PT PLN Power Purchase Agreement between PT PLN
(Persero) dengan MRPR, MCG dan MSBT (Persero) and MRPR, MCG and MSBT met the
memenuhi syarat sebagai perjanjian konsesi jasa, requirement for service concession arrangement.
sehingga Manajemen membukukan transaksi Accordingly, Management accounts such
tersebut sebagai aset konsesi keuangan. transactions as concession financial assets. The
Perubahan dalam aset konsesi keuangan selama movements in the concession financial assets
2025 dan 2024 adalah sebagai berikut: during 2025 and 2024 are as follows:
2025 2024
Saldo awal 9.390.218.328.683 7.617.955.501.928 Beginning balance
Penambahan: Additional:
Pendapatan konstruksi Construction revenue
(Catatan 16 dan 32) 276.415.069.030 1.277.391.832.748 (Notes 16 and 32)
Pendapatan keuangan dari Finance income from service
konsesi jasa (Catatan 32) 618.503.186.368 599.131.107.411 concession (Note 32)
Penerimaan dari PLN (752.860.905.735) (500.049.060.600) Collection from PLN
Selisih kurs karena penjabaran
laporan keuangan 362.700.676.934 395.788.947.196 Translation adjustments
Total 9.894.976.355.280 9.390.218.328.683 Total
Penyisihan kerugian kredit Allowance for expected credit
ekspektasian (4.435.780.106) (4.435.780.106) losses
Neto 9.890.540.575.174 9.385.782.548.577 Net
Dikurangi bagian yang jatuh
tempo dalam satu tahun 572.673.098.050 539.544.723.798 Less current maturities
Bagian jangka panjang - neto 9.317.867.477.124 8.846.237.824.779 Long-term portion - net
Aset keuangan konsesi pada tanggal 31 Desember Concession financial assets as of December 31,
2025 merupakan piutang karena MRPR, MCG dan 2025, represents receivables since MRPR, MCG,
MSBT sudah dalam masa operasi komersial. Aset and MSBT are already in commercial operation.
keuangan konsesi pada tanggal 31 Desember 2024 Concession financial assets as of December 31,
terdiri dari aset kontrak sebesar 2024, consist of contract assets amounting to
Rp4.224.885.833.281 yang berasal dari MCG dan Rp4,224,885,833,281 from MCG and MSBT which
MSBT yang masih dalam tahap konstruksi, dan are still under construction, and receivables
piutang sebesar Rp5.140.896.715.296 yang berasal amounting to Rp5,140,896,715,296 from MRPR
dari MRPR yang sudah dalam masa operasi which is already in commercial operation.
komersial.
Berdasarkan penelaahan status akun aset Based on the review of concession financial assets
keuangan konsesi pada tanggal 31 Desember 2025 as of December 31, 2025 and 2024, management
dan 2024, manajemen berpendapat bahwa is of the opinion that the allowance for impairment
penyisihan kerugian nilai aset keuangan konsesi loss on concession financial assets is adequate to
cukup untuk menutupi kemungkinan kerugian atas cover possible losses on uncollectible accounts.
tidak tertagihnya akun-akun tersebut.
73
Page 223
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 221
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
14. ASET HAK-GUNA 14. RIGHT-OF-USE ASSETS
Grup menyewa beberapa aset termasuk tanah, The Group leases several assets including land,
bangunan, peralatan kantor dan kendaraan, yang building, office equipment and vehicles which
pada umumnya memiliki masa sewa antara 1 generally has lease term between 1 to 29 years.
sampai 29 tahun.
Grup mempunyai sewa tertentu dengan masa sewa The Group also has certain leases with lease terms
12 bulan atau kurang dan sewa bernilai rendah. of 12 months or less and low value leases. The
Grup menerapkan pengecualian pengakuan sewa Group applies the short-term lease and lease of low
jangka pendek dan sewa bernilai rendah untuk value assets recognition exemptions for these
sewa tersebut. leases.
Nilai tercatat untuk aset hak-guna adalah sebagai The carrying amount of right-of-use assets are as
berikut: follows:
2025
Bangunan dan
prasarana/
Tanah/ Building and land Kendaraan/ Jumlah/
Land improvement Vehicles Total
Saldo awal 4.340.771.811 2.315.342.282 14.298.886.634 20.955.000.727 Beginning balance
Penambahan 1.198.557.570 46.167.550.908 4.080.431.415 51.446.539.893 Additions
Pengurangan - - (357.698.360) (357.698.360) Deductions
Penyusutan (781.430.655) (10.295.062.740) (5.567.918.960) (16.644.412.355) Depreciation
Translasi 43.074.968 567.496.928 (261.642.943) 348.928.953 Translation
Saldo akhir 4.800.973.694 38.755.327.378 12.192.057.786 55.748.358.858 Ending balance
2024
Bangunan dan
prasarana/
Tanah/ Building and land Kendaraan/ Jumlah/
Land improvement Vehicles Total
Saldo awal 5.170.414.230 12.820.883.778 9.513.389.314 27.504.687.322 Beginning balance
Penambahan - 160.000.000 9.661.671.231 9.821.671.231 Additions
Penyusutan - (11.652.697.514) (4.473.870.835) (16.126.568.349) Depreciation
Translasi (829.642.419) 987.156.018 (402.303.076) (244.789.477) Translation
Saldo akhir 4.340.771.811 2.315.342.282 14.298.886.634 20.955.000.727 Ending balance
Berikut ini merupakan jumlah yang diakui dalam The following are the amounts recognized in profit
laba rugi: or loss:
2025 2024
Beban depresiasi untuk aset hak Depreciation expense of right-of-
guna 16.644.412.355 16.126.568.349 use assets
Beban bunga atas liabilitas sewa 5.922.742.830 1.892.957.700 Interest expense on lease liabilities
Beban yang terkait dengan sewa Expense relating to short-term
jangka pendek dan sewa aset leases and leases of low-value
bernilai rendah 21.171.172.887 17.848.428.170 assets
Total 43.738.328.072 35.867.954.219 Total
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, based on
berdasarkan evaluasi manajemen, tidak terdapat management’s assessment, there are no
indikasi atau tidak ada faktor yang signifikan bahwa circumstances or no significant factors that would
nilai tercatat aset hak guna mengalami penurunan indicate the carrying value of right-of-use assets
nilai. may be impaired.
74
Page 224
2025 Management Business Company Corporate Sustainability
222 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG 15. LONG-TERM INVESTMENTS
Akun ini terdiri dari sebagai berikut: This account consists of the following:
2025
Persentase Nilai tercatat 1 Nilai tercatat 31
kepemilikan/ Januari 2025/ Penyesuaian nilai Desember 2025/
Percentage of Carrying value Perubahan ekuitas/ wajar / Fair value Carrying value 31
ownership January 1, 2025 Equity changes adjustments Desember 2025
Metode ekuitas/Equity method
Entitas asosiasi/Associate
PT Medco Geopower Sarulla
("MGeoPS") 49,00 % 2.387.396.853.847 94.776.552.335 - 2.482.173.406.182
Ventura Bersama/Joint
Venture
PT Medcopower Solar
Sumbawa ("MPSOS") 50,00 % 68.132.880.279 2.908.462.653 - 71.041.342.932
Pacific Medco Solar Energy
Pte. Ltd. ("PMSE") 37,00 % - - - -
Metode nilai wajar/Fair value
method
PT Teknologi Data
Infrastruktur (TDI) 3,28 % 67.337.450.000 - (9.722.157.687) 57.615.292.313
Total 2.522.867.184.126 97.685.014.988 (9.722.157.687) 2.610.830.041.427
2024
Persentase Nilai tercatat 1 Penambahan/ Penyesuaian Nilai tercatat 31
kepemilikan/ Januari 2024/ Additions Penambahan nilai wajar/ Desember 2024/
Percentage of Carrying value (Pengurangan)/ ekuitas/ Equity Fair value Carrying value
ownership January 1, 2024 (Deductions) changes adjustments December 31, 2024
Metode ekuitas/Equity
method
Entitas Asosiasi/
Associate
PT Medco
Geopower Sarulla
(MGeoPS) 49,00 % 2.257.227.252.985 - 130.169.600.862 - 2.387.396.853.847
Ventura Bersama/
Joint Venture
PT Medcopower
Solar Sumbawa
(MPSoS) 50,00 % 64.427.295.632 - 3.705.584.647 - 68.132.880.279
Pacific Medco Solar
Energy Pte. Ltd.
("PMSE") 37,00 % - - - - -
Metode nilai wajar/Fair
value method
PT Teknologi Data
Infrastruktur (TDI) 5,00 % 30.999.913.788 40.250.000.000 - (3.912.463.788) 67.337.450.000
Total 2.352.654.462.405 40.250.000.000 133.875.185.509 (3.912.463.788) 2.522.867.184.126
75
Page 225
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 223
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
. .
Tabel berikut menyajikan perubahan ekuitas pada The following table illustrates the equity changes in
entitas asosiasi dan ventura bersama: an associate and a joint venture:
2025
Persentase Pendapatan
kepemilikan/ komprehensif lain/
Percentage of Laba tahun berjalan/ Other comprehensive
ownership Profit for the year income Jumlah/ Total
Metode ekuitas/Equity method
Entitas Asosiasi/Associate
PT Medco Geopower Sarulla
("MGeoPS") 49,00 % 57.938.958.242 36.837.594.093 94.776.552.335
Ventura Bersama/Joint Venture
PT Medcopower Solar Sumbawa
("MPSoS") 50,00 % 2.908.462.653 - 2.908.462.653
Pacific Medco Solar Energy Pte.
Ltd. ("PMSE") 37,00 % - - -
Total 60.847.420.895 36.837.594.093 97.685.014.988
2024
Persentase Pendapatan
kepemilikan/ Laba (rugi) tahun komprehensif lain/
Percentage of berjalan/ Profit (loss) Other comprehensive
ownership for the year income Jumlah/ Total
Metode ekuitas/Equity method
Entitas Asosiasi/Associate
PT Medco Geopower Sarulla
(MGeoPS) 49,00 % 39.896.623.195 90.272.977.667 130.169.600.862
Ventura Bersama/Joint Venture
PT Medcopower Solar Sumbawa
(MPSoS) 50,00 % 3.705.584.647 - 3.705.584.647
Pacific Medco Solar Energy Pte.
Ltd. ("PMSE") 37,00 % - - -
Total 43.602.207.842 90.272.977.667 133.875.185.509
Tabel berikut menyajikan ringkasan informasi The following table illustrates the summarized
keuangan entitas asosiasi dan ventura bersama: financial information of the associate and the joint
venture:
2025 (dalam jutaan/in millions)
Ekuitas Bagian Grup
Liabilitas Liabilitas entitas Persentase atas aset Nilai tercatat
Aset tidak jangka jangka induk/ kepemilikan/ neto/ The Penyesuaian investasi/
Aset lancar/ lancar/ Non- pendek/ panjang/ Equity of Percentage Group's ekuitas/ Investment
Current current Current Non-current parent of share of net Equity carrying
assets assets liabilities liabilities company ownership assets adjustment value
Entitas Asosiasi/
Associate
PT Medco
Geopower
Sarulla
("MGeoPS") 1.802.444 6.914.937 3.962.714 1.067.123 3.687.544 49,00 % 1.806.897 675.277 2.482.174
Ventura Bersama/
Joint Venture
PT
Medcopower
Solar
Sumbawa
("MPSoS") 55.024 252.809 15.037 165.704 127.093 50,00 % 63.546 7.495 71.041
Pacific Medco
Solar Energy
Pte. Ltd.
("PMSE") 78.185 92.003 184.704 - (14.516) 37,00 % (5.371) 5.371 -
Total 1.935.653 7.259.749 4.162.455 1.232.827 3.800.121 1.865.072 688.143 2.553.215
76
Page 226
2025 Management Business Company Corporate Sustainability
224 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
. .
Tabel berikut menyajikan perubahan ekuitas pada The following table illustrates the equity changes in
entitas asosiasi dan ventura bersama: (lanjutan) an associate and a joint venture: (continued)
2024 (dalam jutaan/in millions)
Bagian Grup
Liabilitas Liabilitas Ekuitas Persentase atas aset Nilai tercatat
Aset tidak jangka jangka entitas kepemilikan/ neto/ The Penyesuaian investasi/
Aset lancar/ lancar/ Non- pendek/ panjang/ induk/Equity Percentage Group's ekuitas/ Investment
Current current Current Non-current of parent of share of net Equity carrying
assets assets liabilities liabilities company ownership assets adjustment value
Entitas
Asosiasi/
Associate
PT Medco
Geopower
Sarulla
(MGeoPS) 1.499.263 7.221.496 4.215.485 1.011.152 3.494.122 49,00 % 1.712.120 675.277 2.387.397
Ventura Bersama/
Joint Venture
PT
Medcopower
Solar
Sumbawa
(MPSoS) 51.849 256.251 24.551 162.273 121.276 50,00 % 60.638 7.495 68.133
Pacific Medco
Solar Energy
Pte. Ltd.
("PMSE") 109.629 60.910 188.865 - (18.326) 37,00 % (6.781) 6.781 -
Total 1.660.741 7.538.657 4.428.901 1.173.425 3.597.072 1.765.977 689.553 2.455.530
Entitas asosiasi dan ventura bersama tidak The associates and joint venture had no capital
mempunyai komitmen modal dan liabilitas commitments or contingent liabilities as of
kontinjensi pada tanggal 31 Desember 2025 dan December 31, 2025 and 2024.
2024.
Tidak ada pembatasan signifikan atas kemampuan There are no significant restrictions on the ability of
entitas asosiasi dan ventura bersama untuk associates and joint venture entity to transfer funds
mengalihkan dana kepada Grup. to the Group.
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method
metode ekuitas
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
Pada tanggal 18 Mei 2021, Perusahaan On May 18, 2021, the Company divested 2%
melakukan divestasi sebesar 2% saham of its share ownership in MGeoPS to PT
kepemilikan pada MGeoPS kepada PT Medco Medco Daya Abadi Lestari, the Company’s
Daya Abadi Lestari, entitas induk Perusahaan. parent entity. After the divestment, the
Setelah divestasi tersebut, Perusahaan Company revalued the 49% share ownership
mengukur kembali 49% kepemilikan saham in MGeoPS at fair value. Subsequent to the
pada MGeoPS pada nilai wajar. Setelah divestment, the investment is accounted using
divestasi, investasi dicatat menggunakan equity method.
metode ekuitas.
Pada tanggal 27 September 2025, Agen On September 27, 2025, Global Facility Agent
Fasilitas Global Facility Agent (“GFA”) (“GFA”) announced the existence of Event of
menyampaikan bahwa telah terjadi Peristiwa Default due to the historic Debt Service
Cidera Janji (“Event of Default”) karena rasio Coverage Ratio (“DSCR”) below the required
Debt Service Coverage Ratio (“DSCR”) ratio value as of September 24, 2025, March
historis pada tanggal 24 September 2025, 24 24, 2024, September 24, 2023, September
Maret 2024, 24 September 2023, 24 24, 2021, March 24, 2021 and September 24,
September 2021, 24 Maret 2021 dan 24 2020.
September 2020 berada di bawah nilai rasio
yang dipersyaratkan.
77
Page 227
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 225
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
. .
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method
metode ekuitas (lanjutan) (continued)
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
(lanjutan) (continued)
Pada tanggal 27 Maret 2025, 27 September On March 27, 2025, September 27, 2024,
2024, 30 Maret 2022, 3 Oktober 2022 dan 30 March 30, 2022, October 3, 2022 and March
Maret 2023, SOL telah menginformasikan 30, 2023, SOL has informed the Lenders that
kepada Pemberi Pinjaman bahwa Debt the minimum required historical Debt Service
Service Coverage Ratio historis, masing- Coverage Ratio on the Calculation Date of
masing, pada Tanggal Perhitungan 24 Maret March 24, 2025, September 24, 2024, March
2025, 24 September 2024, 24 Maret 2022, 24 24, 2022, September 24, 2022 and March 24,
September 2022 dan 24 Maret 2023 telah 2023, respectively, was met. SOL has also
mencapai nilai yang dipersyaratkan. SOL juga continuously inform the lender of the situation
telah menginformasikan perkembangan situasi developments.
kepada Pemberi Pinjaman.
Dengan mempertimbangkan tindakan yang Taking into account the ongoing actions to
sedang berlangsung untuk memperbaiki repair the well and associated production
sumur dan fasilitas produksi terkait, termasuk facilities, including preparing for a long-term
mempersiapkan rencana perbaikan jangka recovery plan and achieved the above
panjang serta terpenuhinya ketentuan financial covenants as of September 24, 2024.
keuangan pada tanggal 24 September 2024, SOL's management believes that the lenders
manajemen SOL berkeyakinan bahwa will not exercise their rights to take over the
pemberi pinjaman tidak akan menggunakan SOL project or require SOL to repay
hak mereka untuk mengambil alih proyek SOL outstanding loans, for at least the next 12
atau meminta SOL untuk melunasi pinjaman months, even though the DSCR for certain
yang belum dibayar, setidaknya selama 12 periods during 2020 - 2024 were below the
bulan ke depan, walaupun batasan DSCR di required ratio value and not yet obtained the
periode tertentu selama tahun 2020 - 2024 di waiver from creditors.
bawah nilai rasio yang dipersyaratkan dan
belum mendapatkan pembebasan (waiver)
dari para kreditur.
SOL telah memperoleh persetujuan Pemberi SOL has obtained the Lenders’ approval on
Pinjaman terkait dengan rencana perbaikan the long-term recovery plan, in which the
jangka panjang yang mana para sponsor telah sponsors have agreed to provide Standby
sepakat untuk menerbitkan Standby Letter of Letter of Credit (“SBLC”) to guarantee the
Credit (“SBLC”) untuk memastikan terpenuhi fulfillment of SOL’s payment terms to the
kewajiban pembayaran SOL kepada pemberi Lenders in accordance to the loan agreement
pinjaman selama periode pelaksanaan during the long-term recovery period.
perbaikan jangka panjang tersebut. Pemulihan Restoration of interest in SOL is dependent on
kepentingan di SOL bergantung kepada risiko risk and uncertainty over the success of
dan ketidakpastian atas keberhasilan running a long-term improvement effort. The
menjalankan usaha perbaikan jangka panjang. carrying amount of the interest in SOL does
Nilai tercatat atas kepentingan di SOL tidak not include any adjustments that may arise
mencakup penyesuaian yang mungkin timbul from these uncertainties.
dari ketidakpastian tersebut.
Sehubungan dengan perjanjian pinjaman bank In relation with the bank loan agreement of
SOL, SOL tidak diperbolehkan untuk SOL, SOL is not allowed to distribute
membagikan dividen kepada para pemegang dividends to its shareholders without written
sahamnya tanpa persetujuan tertulis dari consent from the bank.
bank.
78
Page 228
2025 Management Business Company Corporate Sustainability
226 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method
metode ekuitas (lanjutan) (continued)
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
(lanjutan) (continued)
Untuk tujuan pengujian penurunan nilai pada For impairment testing purposes on December
tanggal 31 Desember 2025 dan 2024, 31, 2025 and 2024, the calculation of
perhitungan jumlah terpulihkan investasi pada recoverable amount of the investment in
penyertaan saham di MGeoPS berdasarkan shares of stock in MGeoPS is based on
proyeksi arus kas yang didiskontokan dari discounted cash flow projections from the
rencana bisnis yang mencakup periode business plan covering long-term contract
kontrak jangka panjang. Penilaian tersebut period. The assessment require the use of
memerlukan penggunaan estimasi dan asumsi estimates and assumptions such as discount
seperti tingkat diskonto, cadangan, beban rate, reserves, capital expenses, operating
modal, biaya operasi dan kinerja operasi costs and operating performance (which
(termasuk volume produksi dan penjualan). includes production and sales volumes). The
Jumlah terpulihkan dihitung oleh penilai recoverable amount is calculated by an
independen. Perhitungan nilai wajar independent appraiser. The calculation of fair
dikategorikan level 3 dari hirarki nilai wajar. value is categorized level 3 of the fair value
hierarchy.
Asumsi-asumsi utama yang digunakan Key assumptions used
Paragraf berikut menunjukkan informasi The following paragraph shows the information
tentang input signifikan yang tidak dapat about significant unobservable inputs.
diobservasi. a. Discount rate
a. Tingkat diskonto As of December 31, 2025 and 2024, the
Pada tanggal 31 Desember 2025 dan pre-tax discount rate applied to the cash
2024, tingkat diskonto sebelum pajak yang flow projection are ranging from
diterapkan pada proyeksi arus kas masing- 6.80% - 8.24% and 6.74% - 8.18%,
masing sebesar 6,74% sampai 8,18% dan respectively.
6,74% sampai 8,18%.
b. Pengeluaran modal, biaya operasi dan b. Capital expenses, operating costs and
kinerja operasi operating performances
Asumsi-asumsi ini didasarkan pada kinerja These assumptions are based on the
operasi MGeoPS, beban modal dan MGeoPS’s operating performance, capital
rencana anggaran. expenses and budget plan.
c. Tarif listrik c. Electricity tariff
Asumsi ini didasarkan pada kontrak These assumptions are based on
penjualan listrik dengan PLN. electricity sales contract with PLN.
Perubahan asumsi yang digunakan oleh Changes to the assumptions used by the
manajemen untuk menentukan nilai wajar, management to determine the fair value, in
khususnya tingkat diskonto, dapat berdampak particular the discount rate, can have
signifikan terhadap hasil penilaian nilai wajar. significant impact on the result of the fair value
assessment.
Manajemen berpendapat bahwa tidak ada Management is of the opinion that there was
kemungkinan perubahan yang wajar atas no reasonably possible change in any of the
salah satu asumsi utama yang disebutkan di key assumptions stated above that would
atas yang akan menyebabkan jumlah tercatat cause the carrying amount to materially
secara material melebihi jumlah exceed its recoverable amount. As of
terpulihkannya. Pada tanggal 31 Desember December 31, 2025 and 2024, the
2025 dan 2024, nilai terpulihkan atas recoverable amount of the investment is
investasi melebihi nilai tercatatnya, sehingga higher than its carrying amounts, thus,
manajemen berpendapat bahwa tidak management is of the opinion that there is no
dibutuhkan penurunan nilai. impairment loss necessary.
79
Page 229
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 227
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures – equity method
metode ekuitas (lanjutan) (continued)
PT Medcopower Solar Sumbawa PT Medcopower Solar Sumbawa
(“MPSoS”) (“MPSoS”)
Pada tanggal 13 Desember 2022, PT On December 13, 2022, PT Medcopower
Medcopower Energi Baru (“MPEB”) Energi Baru (“MPEB”) divested 50% of its
melakukan divestasi sebesar 50% saham share ownership in MPSoS to PT Amman
kepemilikan pada MPSoS kepada PT Amman Mineral Internasional (“AMI”). After the
Mineral Internasional (“AMI”). Setelah divestment, MPEB revalued the 50% share
divestasi tersebut, MPEB mengukur kembali ownership in MPSoS at fair value. Subsequent
50% kepemilikan saham pada MPSoS pada to the divestment, the investment is accounted
nilai wajar. Setelah divestasi, investasi dicatat using equity method since the Group has joint
menggunakan metode ekuitas karena Grup control on MPSoS, with reference to PSAK
memiliki pengendalian bersama di MPSoS, 111.
dengan mengacu pada PSAK 111.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024,
manajemen berpendapat bahwa tidak ada management is of the opinion that there is no
indikator penurunan nilai di investasi di impairment indicator in the investment in
MPSoS. MPSoS.
Pacific Medco Solar Energy Pte. Ltd. Pacific Medco Solar Energy Pte. Ltd.
(“PMSE”) (“PMSE”)
PMSE adalah perseroan terbatas swasta yang PMSE is a private limited liability company
didirikan oleh PacificLight Renewables Pte. incorporated by PacificLight Renewables Pte.
Ltd., Medco Power Global Pte. Ltd., dan Ltd., Medco Power Global Pte. Ltd. and
Gallant Venture Ltd., yang terdaftar di Gallant Venture Ltd., which are incorporated in
Singapura. Aktivitas utama PMSE adalah Singapore. The principal activity of PMSE is to
menghasilkan listrik dari sumber lain. generate electricity by other sources.
Pada 31 Desember 2025 dan 2024, PMSE As of December 31, 2025 and 2024, PMSE
mengalami ekuitas negatif (defisit), masing- experienced negative equity (deficit),
masing, sebesar Rp14.515.757.305 dan amounting to Rp14,515,757,305 and
Rp18.326.418.578, yang mana bagian Grup Rp18,326,418,578, respectively, whereby the
atas kerugian PMSE telah melebihi nilai Group's share of PMSE's losses has
tercatat investasi. Karena Group tidak memiliki exceeded the carrying amount of the
kewajiban konstruktif atau hukum untuk investment. Since the Group has no
menutupi kerugian tersebut, sesuai dengan constructive or legal obligation to cover these
PSAK 228, maka investasi pada PMSE losses, in accordance with PSAK 228, the
dilaporkan Nihil pada tanggal 31 Desember investment in PMSE is reported as Nil as of
2025 dan 2024. December 31, 2025 and 2024.
Karena saldo investasi telah turun hingga nihil, Since the investment balance has decreased
sesuai dengan ketentuan PSAK 228, Group to nil, in accordance with PSAK 228, the
tidak mengakui bagian Group atas keuntungan Group does not recognize the Group's share
dan kerugian PMSE untuk tahun 2025 dan of PMSE's gains and losses for the year 2025
2024, masing-masing, sebesar and 2024, amounting to Rp1,992,509,257 and
Rp1.992.509.257 dan Rp482.890.080. Bagian Rp482,890,080, respectively. The Group's
Group atas akumulasi kerugian PMSE yang share of the accumulated unrecognized PMSE
belum diakui hingga 31 Desember 2025 losses as of December 31, 2025 is
adalah sebesar Rp14.515.757.305. Rp14,515,757,305.
80
Page 230
2025 Management Business Company Corporate Sustainability
228 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
b. Investasi ekuitas pada nilai wajar melalui b. Equity investments at fair value through other
penghasilan komprehensif lain comprehensive income
Grup memiliki investasi saham (saham tidak The Group has investments in shares of stock
diperdagangkan) yang diklasifikasikan oleh (unlisted shares) that are classified by the
Grup sebagai aset keuangan yang diukur Group as financial assets at fair value through
pada nilai wajar melalui penghasilan other comprehensive income in accordance
komprehensif lain sesuai dengan PSAK 109, with PSAK 109, with details as follows:
dengan rincian sebagai berikut:
PT Teknologi Data Infrastruktur (“TDI”) PT Teknologi Data Infrastruktur (“TDI”)
Pada tanggal 25 Oktober 2023, MPI dengan On October 25, 2023, MPI and PT Telkom
PT Telkom Data Ekosistem dan ST Dynamo ID Data Ekosistem and also ST Dynamo ID Pte.
Pte. Ltd. telah melakukan penyelesaian Ltd. have finalized completion/closing for new
(completion/closing) atas penerbitan saham shares subscription. MPI owns 296,826
baru di PT Teknologi Data Infrastruktur. MPI ordinary shares representing 5% of its share
memiliki 296.826 lembar saham biasa yang ownership in PT Teknologi Data Infrastruktur
mencerminkan 5% dari kepemilikan sahamnya (“TDI”).
dalam PT Teknologi Data Infrastruktur (“TDI”).
Pada tanggal 4 Oktober 2024, MPI melakukan On October 4, 2024, MPI completed/closed
penyelesaian (completion/closing) atas the issuance of new shares in TDI amounting
penerbitan saham baru di TDI sebesar to Rp40,250,000,000. After the completion,
Rp40.250.000.000. Setelah penyelesaian MPI owned 699,326 ordinary shares
tersebut, MPI memiliki 699.326 lembar saham representing 5% of its shareholding in TDI.
biasa yang mencerminkan 5% dari
kepemilikan sahamnya dalam TDI.
Berdasarkan Akta Notaris No. 238 tanggal 22 Based on Notarial Deed No. 238 dated 22
Desember 2025 oleh Jimmy Tanal, S.H., December 2025 of Jimmy Tanal, S.H., M.Kn.,
M.Kn., sehubungan dengan peningkatan following a capital increase in TDI, MPI’s
modal pada TDI, kepemilikan MPI mengalami ownership interest was diluted as MPI did not
dilusi karena tidak berpartisipasi dalam participate in the additional capital injection
tambahan setoran modal sebesar amounting to Rp38,500,000,000 (equivalent to
Rp38.500.000.000 (setara dengan 385.000 385,000 shares). Accordingly, MPI's
saham). Dengan demikian, persentase shareholding percentage in TDI decreased to
kepemilikan MPI pada TDI menurun menjadi 3.28%, without any change in the nominal
3,28%, tanpa adanya perubahan nilai nominal value of its investment.
investasi yang dimiliki Perusahaan.
Pada tanggal 31 Desember 2025 dan 2024, On December 31, 2025 and 2024, MPI
MPI melakukan penyesuaian nilai buku adjusted the book value of TDI investment to
investasi TDI ke nilai wajarnya, masing- its fair value by Rp9,722,157,687 and
masing, sebesar Rp9.722.157.687 dan Rp3,912,463,788, respectively. The difference
3.912.463.788. Selisih dari penyesuaian between the adjustment and the fair value is
tersebut dengan nilai wajar diakui sebagai recognized as other comprehensive income in
penghasilan komprehensif lain dalam laporan the statement of profit or loss and other
laba rugi dan penghasilan komprehensif lain comprehensive income for the year ended
untuk tahun yang berakhir pada 31 Desember December 31, 2025 and 2024, in accordance
2025 dan 2024, sesuai dengan kebijakan with the accounting policy chosen for the
akuntansi yang dipilih untuk investasi saham investment in shares of TDI.
pada TDI.
81
Page 231
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 229
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
16. ASET EKSPLORASI DAN EVALUASI 16. EXPLORATION AND EVALUATION ASSETS
Pada tanggal 31 Desember 2025 dan 2024, akun As of December 31, 2025 and 2024, this account
ini merupakan akumulasi biaya terkait dengan represents accumulated costs relating to the
penyelidikan umum, pengeluaran geologi dan general investigation, geological and geophysical
geofisika, survei topografi, studi lingkungan dan expenditures, topographic survey, environmental
biaya lainnya yang dikeluarkan untuk study and other costs incurred to develop the
mengembangkan area Proyek Panas Bumi Bonjol Bonjol Geothermal Project, located in West
yang berlokasi di Provinsi Sumatera Barat. Sumatera Province.
Berdasarkan penelaahan atas aset eksplorasi dan Based on the review of exploration and evaluation
evaluasi, manajemen meyakini bahwa tidak assets, management believes that no impairment
diperlukan penurunan nilai untuk tahun yang for the years ended December 31, 2025 and 2024
berakhir pada 31 Desember 2025 dan 2024. is necessary.
2025 2024
Saldo awal tahun 29.235.675.350 3.330.951.275 Balance at beginning of year
Penambahan tahun berjalan 175.462.202.873 25.904.724.075 Addition in current year
Saldo akhir tahun 204.697.878.223 29.235.675.350 Balance at ending of year
17. ASET TAK BERWUJUD 17. INTANGIBLE ASSETS
Akun ini terdiri dari: This account consists:
2025 2024
Biaya Perolehan At Cost
Acquisition of Tanjung Jati B
Akuisisi Proyek Tanjung Jati B 28.931.301.095 28.931.301.095 Project
Goodwill 27.900.256.811 27.900.256.811 Goodwill
Perizinan 21.971.322.006 21.971.322.006 Licenses
Perangkat lunak 13.745.998.937 11.011.515.464 Software
Total Biaya Perolehan 92.548.878.849 89.814.395.376 Total Cost
Akumulasi Amortisasi Accumulated Amortization
Acquisition of Tanjung Jati B
Akuisisi Proyek Tanjung Jati B 28.208.018.581 26.761.453.524 Project
Perizinan 7.818.394.286 7.473.154.286 Licenses
Perangkat lunak 5.358.816.951 2.574.139.746 Software
Total Akumulasi Amortisasi 41.385.229.818 36.808.747.556 Total Accumulated Amortization
Penurunan Nilai Impairment
Goodwill 27.900.256.811 27.900.256.811 Goodwill
Perizinan 7.133.047.720 7.133.047.720 Licenses
Nilai Tercatat Neto 16.130.344.500 17.972.343.289 Net Carrying Amount
Goodwill sebesar Rp10.982.717.600, The goodwill amounting to Rp10,982,717,600,
Rp9.617.539.211 dan Rp7.300.000.000 masing Rp9,617,539,211 and Rp7,300,000,000 arise from
masing timbul dari akuisisi NES, SHBar dan SAL. the acquisition of NES, SHBar and SAL,
respectively.
82
Page 232
2025 Management Business Company Corporate Sustainability
230 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
17. ASET TAK BERWUJUD (lanjutan) 17. INTANGIBLE ASSETS (continued)
. .
Akuisisi NES Acquisition of NES
Pada tanggal 29 Januari 2014, Perusahaan On January 29, 2014, the Company purchased
melakukan pembelian atas 80% saham NES yang 80% of NES shares owned by PT Nawakara Energi
dimiliki oleh PT Nawakara Energi Perkasa (“NEP”) Perkasa (“NEP”) resulting in a goodwill of
dengan goodwill sebesar Rp10.982.717.600. Pada Rp10,982,717,600. At the time of acquisition, the
saat diakuisisi, aset NES yang sebagian besar NES asset, the capitalized basic engineering
merupakan biaya perancangan desain dasar yang design cost, represents the fair value of the asset at
dikapitalisasi, merepresentasikan nilai wajar aset the date of acquisition. As of December 31, 2021,
pada tanggal akuisisi. Pada tanggal 31 Desember the Company recognized impairment loss for
2021, Perusahaan mengakui rugi penurunan nilai goodwill from acquisition of NES due to NES has
atas goodwill dari akuisisi NES dikarenakan pada not yet received approval for extending power plant
tanggal tersebut NES belum menerima construction period of the Power Purchase
perpanjangan masa konstruksi pembangkit pada Agreement (PPA) between NES and PT PLN
Perjanjian Jual Beli Tenaga Listrik (PJBTL) antara (Persero) Unit Induk Wilayah Sumatera Barat (“PT
NES dengan PT PLN (Persero) Unit Induk Wilayah PLNWSB”) on that date (Note 38).
Sumatera Barat (“PT PLNWSB”) (Catatan 38).
Akuisisi SHBar Acquisition of SHBar
Pada tanggal 1 Juli 2013, Perusahaan mengakuisisi On July 1, 2013, the Company purchased 100% of
100% saham SHBar yang dimiliki oleh PT SHBar shares owned by PT Sangsaka Hidro Tiara
Sangsaka Hidro Tiara dan PT Satria Wijaya and PT Satria Wijaya Kusuma resulting in a
Kusuma yang menimbulkan goodwill sebesar goodwill of Rp9,617,539,211. At the time of
Rp9.617.539.211. Pada saat diakuisisi, aset SHBar acquisition, the SHBar assets, mainly consists of
sebagian besar merupakan nilai tanah dan biaya the value of the land and basic engineering design
perancangan desain dasar konstruksi yang cost, represent the fair value of the assets at the
dikapitalisasi, merepresentasikan nilai wajar aset date of acquisition. As of December 31, 2018, the
pada tanggal akuisisi. Pada tanggal 31 Desember Company recognized impairment loss for goodwill
2018, Perusahaan mengakui rugi penurunan nilai from acquisition of SHBar due to SHBAR has not
atas goodwill dari akuisisi SHBar dikarenakan yet received approval for extending power plant
SHBAR belum menerima perpanjangan masa construction period of the Power Purchase
konstruksi pembangkit pada Perjanjian Jual Beli Agreement (“PPA”) between SHBar and PT
Tenaga Listrik (“PJBTL”) antara SHBar dengan PT PLNUIDJB.
PLNUIDJB.
Akuisisi SAL Acquisition of SAL
Pada tanggal 29 Juli 2011, Perusahaan melakukan On July 29, 2011, the Company purchased 70% of
pembelian atas 70% saham SAL yang dimiliki oleh SAL shares owned by PT Sangsaka Hidro Tiara
PT Sangsaka Hidro Tiara dengan goodwill sebesar with goodwill amounting to Rp7,300,000,000. At the
Rp7.300.000.000. Pada saat diakuisisi, aset SAL time of acquisition, SAL assets, mainly consist of
yang sebagian besar merupakan kendaraan dan capitalized vehicles and office equipment,
peralatan kantor yang dikapitalisasi, represent the fair value of the assets at the date of
merepresentasikan nilai wajar aset pada tanggal acquisition.
akuisisi.
Pada tanggal 31 Desember 2024, Perusahaan As of December 31, 2024, the Company
mengakui rugi penurunan nilai atas goodwill dari recognized an impairment loss on goodwill from the
akuisisi SAL, karena tidak ada pengembangan lebih acquisition of SAL, because there was no further
lanjut dari SAL dan entitas anaknya, sebesar development of SAL and its subsidiaries,
Rp7.300.000.000 (Catatan 36). amounting Rp7,300,000,000 (Note 36).
Lain-lain Other
Pada tanggal 31 Desember 2024, Perusahaan As of December 31, 2024, the Company
mengakui rugi penurunan nilai atas perijinan yang recognized an impairment loss on license from the
dibukukan pada saat akuisisi PT Pembangkitan acquisition of PT Pembangkitan Pusaka
Pusaka Parahiangan (“PPP”), karena tidak ada Parahiangan (“PPP”), because there was no further
pengembangan lebih lanjut dari PPP, sebesar development of PPP, amounting Rp7,133,047,720
Rp7.133.047.720 (Catatan 36). (Note 36).
83
Page 233
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 231
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
18. ASET TETAP 18. PROPERTY, PLANT AND EQUIPMENT
Rincian akun ini terdiri dari sebagai berikut: The details of this account are as follows:
2025
Penyesuaian
Translasi/
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Translation Saldo Akhir/
Beginning Balance Additions Deductions Reclassifications Adjustments Ending Balance
Biaya Perolehan Acquisition Cost
Tanah dan hak atas tanah 56.882.767.470 - - 890.000.000 80.276.804 57.853.044.274 Land and landrights
Bangunan dan prasarana 105.031.729.252 8.421.954.515 (179.987.400) - 2.750.404.044 116.024.100.411 Buildings and improvements
Mesin 465.952.479.832 54.853.114.034 (54.951.870.224) - - 465.853.723.642 Machinery
Peralatan panel kontrol 28.771.850.028 4.577.904.735 (27.414.633.920) - 27.007.845 5.962.128.688 Control panel equipment
Perabotan, perlengkapan Furniture, fixtures and office
dan peralatan kantor 71.528.907.404 5.534.477.244 (332.931.209) - 855.777.403 77.586.230.842 equipment
Kendaraan bermotor 23.133.871.275 2.695.326.350 (1.909.153.907) - 95.325.455 24.015.369.173 Motor vehicles
Telecommunication
Peralatan komunikasi 3.170.898.430 488.432.500 (31.090.000) - 20.171.630 3.648.412.560 equipment
Peralatan 82.821.060.560 11.133.086.720 (5.500.000) - 1.247.813.503 95.196.460.783 Tools
Leasehold improvement 71.711.682.083 - - - 280.021.586 71.991.703.669 Leasehold improvements
Aset tetap dalam
pembangunan 1.032.832.883.406 133.459.032.482 - (1.164.661.511.790) 20.111.523.734 21.741.927.832 Construction in progress
Total Biaya Perolehan 1.941.838.129.740 221.163.328.580 (84.825.166.660) (1.163.771.511.790) 25.468.322.004 939.873.101.874 Total Acquisition Cost
Akumulasi Penyusutan Accumulated Depreciation
Bangunan dan prasarana (53.105.830.650) (5.247.559.905) 65.995.380 - (1.169.925.239) (59.457.320.414) Buildings and improvements
Mesin (241.454.984.376) (92.554.948.989) 54.951.870.224 - - (279.058.063.141) Machinery
Peralatan panel kontrol (28.013.482.744) (223.276.453) 27.414.633.920 - (114.285.981) (936.411.258) Control panel equipment
Perabotan, perlengkapan Furniture. fixtures and office
dan peralatan kantor (47.624.580.759) (10.075.701.502) 332.931.209 - (689.677.590) (58.057.028.642) equipment
Kendaraan bermotor (19.782.617.527) (1.471.699.157) 1.909.153.907 - (39.393.055) (19.384.555.832) Motor vehicles
Telecommunication
Peralatan komunikasi (2.762.855.479) (250.591.158) 26.854.790 - (17.488.065) (3.004.079.912) equipment
Peralatan (65.395.593.928) (10.334.063.775) 5.500.000 - (1.064.453.644) (76.788.611.347) Tools
Leasehold improvement (26.172.747.283) (5.929.154.127) - - (176.067.228) (32.277.968.638) Leasehold improvements
Total Akumulasi Total Accumulated
Penyusutan (484.312.692.746) (126.086.995.066) 84.706.939.430 - (3.271.290.802) (528.964.039.184) Depreciation
Nilai Tercatat Neto 1.457.525.436.994 410.909.062.690 Net Carrying Amount
2024
Penyesuaian
Translasi/
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Translation Saldo akhir/ Ending
Beginning Balance Additions Deductions Reclassifications Adjustments Balance
Biaya Perolehan Acquisition Cost
Tanah dan hak atas tanah 56.786.176.345 - - - 96.591.125 56.882.767.470 Land and landrights
Buildings and
Bangunan dan prasarana 100.092.783.257 1.691.900.518 - - 3.247.045.477 105.031.729.252 improvements
Mesin 460.007.796.106 104.291.213.800 (98.346.530.074) - - 465.952.479.832 Machinery
Peralatan panel kontrol 28.739.353.492 - - - 32.496.536 28.771.850.028 Control panel equipment
Perabotan, perlengkapan Furniture. fixtures and
dan peralatan kantor 62.479.265.526 11.024.329.531 (2.909.678.920) - 934.991.267 71.528.907.404 office equipment
Kendaraan bermotor 21.087.762.085 1.806.649.888 (2.100.000) - 241.559.302 23.133.871.275 Motor vehicles
Telecommunication
Peralatan komunikasi 3.443.969.656 164.501.101 (460.418.900) - 22.846.573 3.170.898.430 equipment
Peralatan 78.656.645.772 5.101.491.474 (2.362.274.398) - 1.425.197.712 82.821.060.560 Tools
Leasehold improvement 69.855.857.127 1.518.895.757 - - 336.929.199 71.711.682.083 Leasehold improvements
Aset tetap dalam
pembangunan 225.674.092.842 781.063.085.748 - - 26.095.704.816 1.032.832.883.406 Construction in progress
Total Biaya Perolehan 1.106.823.702.208 906.662.067.817 (104.081.002.292) - 32.433.362.007 1.941.838.129.740 Total Acquisition Cost
Akumulasi Penyusutan Accumulated Depreciation
Buildings and
Bangunan dan prasarana (46.767.970.942) (5.091.124.839) - - (1.246.734.869) (53.105.830.650) improvements
Mesin (239.071.869.347) (88.338.309.209) 85.955.204.093 - (9.913) (241.454.984.376) Machinery
Peralatan panel kontrol (27.879.241.743) (125.978.427) - - (8.262.574) (28.013.482.744) Control panel equipment
Perabotan, perlengkapan Furniture. fixtures and
dan peralatan kantor (41.618.442.773) (8.040.228.668) 2.747.177.530 - (713.086.848) (47.624.580.759) office equipment
Kendaraan bermotor (17.864.080.185) (1.732.771.012) 2.100.000 - (187.866.330) (19.782.617.527) Motor vehicles
Telecommunication
Peralatan komunikasi (2.992.550.472) (211.932.045) 460.418.900 - (18.791.862) (2.762.855.479) equipment
Peralatan (57.078.783.227) (9.596.743.592) 2.362.274.398 - (1.082.341.507) (65.395.593.928) Tools
Leasehold improvement (20.054.276.850) (5.919.812.317) - - (198.658.116) (26.172.747.283) Leasehold improvements
Total Akumulasi Total Accumulated
Penyusutan (453.327.215.539) (119.056.900.109) 91.527.174.921 - (3.455.752.019) (484.312.692.746) Depreciation
Nilai Tercatat Neto 653.496.486.669 1.457.525.436.994 Net Carrying Amount
84
Page 234
2025 Management Business Company Corporate Sustainability
232 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
18. ASET TETAP (lanjutan) 18. PROPERTY, PLANT AND EQUIPMENT
(continued)
Penyusutan dialokasikan sebagai berikut: Depreciation is charged to the following:
2025 2024
Beban pokok penjualan
(Catatan 33) 97.300.410.509 93.219.319.628 Cost of revenues (Note 33)
Beban operasional (Catatan 34) 28.786.584.557 25.837.580.481 Operating expenses (Note 34)
Jumlah 126.086.995.066 119.056.900.109 Total
Aset tetap tertentu digunakan sebagai jaminan atas Certain property, plant and equipment are used as
utang yang diperoleh oleh Grup (Catatan 25). collateral to the loans obtained by the Group (Note
25).
Persediaan (Catatan 9) dan aset tetap, termasuk Inventories (Note 9) and property, plant and
aset tetap dalam perjanjian mengandung sewa equipment including property plant and equipment,
(Catatan 11), telah diasuransikan terhadap under finance lease arrangement (Note 11), are
kerusakan material, kerusakan mesin dan business insured against material damage, machinery
interruption dengan nilai pertanggungan sebesar breakdown and business interruption with a
AS$703.093.286 dan Rp290.799.553.640 pada coverage of US$703,093,286 and
tanggal 31 Desember 2025 dan AS$633.734.665 Rp290,799,553,640 as of December 31, 2025 and
dan Rp324.469.888.721 pada tanggal 31 US$633,734,665 and Rp324,469,888,721, as of
Desember 2024. Manajemen berkeyakinan bahwa December 31, 2024. Management believes that the
nilai pertanggungan tersebut adalah cukup untuk insurance coverage is adequate to cover possible
menutupi kemungkinan kerugian atas aset yang losses that may arise from such risks.
dipertanggungkan.
Pelepasan aset tetap adalah sebagai berikut: Disposals of property, plant and equipment are as
follows:
2025 2024
Hasil pelepasan neto 2.621.811.141 314.256.360 Net proceeds
Nilai tercatat 118.227.230 12.553.827.371 Carrying value
Laba (rugi) 2.503.583.911 (12.239.571.011) Gain (loss)
Pada tanggal 31 Desember 2025 dan 2024, biaya As of December 31, 2025 and 2024, the
perolehan aset tetap oleh Grup yang telah acquisition cost of property, plant and equipment
disusutkan penuh namun masih digunakan masing- that have been fully depreciated but are still being
masing sebesar Rp188.089.222.990 dan used by the Group amounted to
Rp131.999.809.006, terdiri atas perabotan, Rp188,089,222,990 and Rp131,999,809,006,
perlengkapan dan peralatan kantor, kendaraan respectively, consisting of furniture, fixtures and
bermotor dan peralatan (tidak diaudit). office equipment, motor vehicle and tools
(unaudited).
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, based on
berdasarkan penelaahan atas estimasi umur review of estimated useful lives, residual values
manfaat, nilai residu dan metode penyusutan aset and methods of depreciation of fixed assets,
tetap, manajemen berkeyakinan bahwa tidak management believes that there are no changes in
terdapat perubahan atas estimasi masa manfaat, the useful lives, residual values and method of
nilai residu dan metode penyusutan aset tetap. depreciation of fixed assets.
Pada tanggal 31 Desember 2024, aset tetap dalam As of December 31, 2024, the construction in
pembangunan terutama merupakan konstruksi progress mainly represents construction of
mesin PT Energi Listrik Batam ("ELB"). Aset dalam machinery PT Energi Listrik Batam ("ELB"). The
penyelesaian telah selesai dan beroperasi construction in progress was completed and
komersial pada bulan November 2025, sehingga commenced commercial operations in November
direklasifikasi ke akun ke piutang sewa pembiayaan 2025, and were reclassified to finance lease
sesuai dengan Perjanjian Jual Beli Tenaga Listrik receivables under Power Purchase Agreement with
dengan PT PLN Batam (Catatan 38). PT PLN Batam (Note 38).
Pada tanggal 31 Desember 2025 dan 2024, tidak As of December 31, 2025 and 2024, there is no
ada aset tetap yang tidak digunakan sementara. temporary idle property, plant and equipment.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, management
manajemen berpendapat bahwa penyisihan is of the opinion that the allowance for impairment
kerugian penurunan nilai atas aset tetap tidak loss on property and equipment is not needed.
diperlukan.
85
Page 235
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 233
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
18. ASET TETAP (lanjutan) 18. PROPERTY, PLANT AND EQUIPMENT
(continued)
Biaya pinjaman yang dikapitalisasi ke aset tetap Borrowing costs capitalized to property, plant and
untuk tahun yang berakhir pada tanggal 31 equipment for the year ended 31 Desember 2025
Desember 2025 adalah sebesar Rp29.285.490.841 amounted to Rp29,285,490,841 and there were no
dan tidak terdapat biaya pinjaman yang borrowing costs capitalized to property, plant and
dikapitalisasi ke aset tetap untuk tahun yang equipment for the year ended December 31, 2024.
berakhir pada tanggal 31 Desember 2024. Suku The effective interest rates used to determine the
bunga efektif yang digunakan untuk menentukan borrowing costs eligible for capitalization was
biaya pinjaman yang dikapitalisasi sebesar 4,50% 4.50% for the year ended December 31, 2025. For
untuk tahun yang berakhir pada tanggal 31 the year ended December 31, 2024, there were no
Desember 2025. Tidak ada biaya pinjaman yang capitalized borrowing costs.
dikapitalisasi pada tanggal yang berakhir pada 31
Desember 2024.
Pada 31 Desember 2025 dan 31 Desember 2024, As of 31 Desember 2025 and 31 Desember 2024,
manajemen berpendapat bahwa penyisihan the management is of the opinion that the
penurunan nilai yang dicadangkan adalah cukup allowance for impairment losses were adequate
dan tidak diperlukan penurunan nilai lebih lanjut and no further impairment on the remaining
atas aset tetap lainnya. property, plant and equipment is necessary.
Grup memiliki Hak atas tanah atau “Hak Guna The Group have landrights or “Hak Guna
Bangunan” (“HGB”), selain hak atas tanah yang Bangunan” (“HGB”), other than the landrights still in
masih dalam proses untuk terdaftar atas nama process of being registered to the Group’s name,
Grup, akan berakhir pada tahun 2043 sampai that will expire on 2043 until 2047.
dengan 2047.
Manajemen berpendapat bahwa hak atas tanah Management believes that the existing landrights
yang ada akan diperpanjang oleh Pemerintah will be renewed by the Government of Indonesia
Indonesia pada saat jatuh tempo, karena upon expiration because under the laws of
berdasarkan hukum Indonesia, hak atas tanah yang Indonesia the landrights use can be renewed upon
digunakan dapat diperpanjang dengan permintaan the request of the HGB holder (subject to the
dari pemegang HGB (bergantung pada Government of Indonesia’s approval).
persetujuan Pemerintah Indonesia).
19. UANG MUKA PEMBELIAN ASET TETAP 19. ADVANCES FOR PURCHASE OF PROPERTY,
PLANT AND EQUIPMENT
Pada tanggal 31 Desember 2025, akun ini terutama As of December 31, 2025, this account mainly
merupakan pembayaran uang muka terkait dengan represents advance payments related to machinery
pembelian mesin proyek pembangkit listrik DEB expansion power plant project, Bali West
ekspansi DEB, proyek pembangkit listrik solar Bali photovoltaic power plant project and power turbine
Barat dan pembelian mesin tenaga turbin di DEB. machinery in DEB.
Pada tanggal 31 Desember 2024, akun ini terutama As of December 31, 2024, this account mainly
merupakan pembayaran uang muka terkait dengan represents advance payments related to project of
proyek pembangkit listrik solar photovoltaik Bali Bali West solar photovoltaics power plant.
Barat.
20. ASET LANCAR DAN ASET TIDAK LANCAR 20. OTHER CURRENT AND NON-CURRENT
LAINNYA ASSETS
Pada tanggal 31 Desember 2025, akun aset lancar As of December 31, 2025, the other current asset
lainnya sebagian besar merupakan biaya pekerjaan account mainly represents mainly consist of
pemeliharaan besar di TJB yang ditangguhkan. deferred major maintenance costs in TJB. The
Akun aset tidak lancar lainnya sebagian besar other non-current assets mainly consist of the
terutama merupakan biaya yang ditangguhkan project development costs incurred by the
untuk pengembangan proyek Perusahaan. Company.
Pada Tanggal 31 Desember 2024, akun aset lancar As of December 31, 2024, the other current asset
lainnya terutama merupakan akumulasi biaya account mainly represents the accumulation of
persiapan pekerjaan operasi dan pemeliharan, preparation costs for operation and maintenance
berupa pengadaan peralatan, perlengkapan dan work, in the form of procurement of equipment,
kontrak lainnya, yang harus dilaksanakan sesuai supplies and other contracts, which must be carried
dengan kontrak sebagai persiapan dimulainya out in accordance with the contract in preparation
tahapan operasi komersial pada PLTU Sulut-1 for the start of the commercial operation phase at
(2x50 MW) milik PT PLN (Persero). Akun aset tidak PLTU Sulut-1 (2x50 MW) owned by PT PLN
lancar lainnya sebagian besar merupakan biaya (Persero). The other non-current assets account
pekerjaan pemeliharaan besar di TJB yang mainly consist of deferred major maintenance costs
ditangguhkan. in TJB.
86
Page 236
2025 Management Business Company Corporate Sustainability
234 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
21. UTANG USAHA 21. TRADE PAYABLES
Akun ini terdiri atas utang kepada: This account consists of payables to:
i. Berdasarkan Pemasok i. By Supplier
2025 2024
PT Perusahaan Gas Negara PT Perusahaan Gas Negara
(Persero) Tbk ("PT PGN (Persero) Tbk ("PT PGN
(Persero) Tbk") (Catatan 38) 51.224.181.101 47.906.037.151 (Persero) Tbk") (Note 38)
RWG (Repair & Overhaul) RWG (Repair & Overhaul)
Limited 24.922.276.920 - Limited
PT Pertamina EP (Catatan 38) 10.233.221.898 7.638.312.961 PT Pertamina EP (Note 38)
PT PLN (Persero) UIP3B PT PLN (Persero) UIP3B
Sumatera (Catatan 38) 7.958.748.151 - Sumatera (Catatan 38)
PT Scientific Drilling PT Scientific Drilling
International Indonesia 7.478.375.205 - International Indonesia
AF-Consult Ltd. (Catatan 38) 5.380.213.878 7.547.056.814 AF-Consult Ltd. (Note 38)
Marsh Indonesia 3.319.419.052 3.400.358.348 Marsh Indonesia
PT Kasmar Tiar Raya 1.673.057.850 1.673.057.850 PT Kasmar Tiar Raya
PT Halliburton Logging Services PT Halliburton Logging Services
Indonesia 1.562.373.321 - Indonesia
PT Kartika Bina Medikatama 1.307.248.432 761.948.731 PT Kartika Bina Medikatama
PT Varcoindo Bina Jaya 1.041.536.735 - PT Varcoindo Bina Jaya
PT Inti Karya Persada - 167.867.110.912 PT Inti Karya Persada
Millbank, Tweed, Hadley & Millbank, Tweed, Hadley &
McCloy LLP - 1.523.704.874 McCloy LLP
Tritama Mitra Lestari (Catatan
38) - 1.443.821.826 Tritama Mitra Lestari (Note 38)
PT Istech Resources Asia - 1.161.006.420 PT Istech Resources Asia
Lain-lain (masing-masing di Others (each below
bawah Rp1.000.000.000) 22.816.212.392 19.940.986.351 Rp1,000,000,000)
Total 138.916.864.935 260.863.402.238 Total
ii. Berdasarkan Umur ii. By Aging Category
2025 2024
Sampai dengan 1 bulan 83.145.940.302 223.037.476.697 Up to 1 month
1-3 bulan 35.607.858.743 14.884.821.592 1-3 months
3-6 bulan 32.379.267 2.245.814.817 3-6 months
6 bulan - 1 tahun 100.000 275.242.992 6 months - 1 year
Lebih dari 1 tahun 20.130.586.623 20.420.046.140 More than 1 year
Total 138.916.864.935 260.863.402.238 Total
iii. Berdasarkan Mata Uang iii. By Currency
2025 2024
Dolar Amerika Serikat 86.839.440.561 109.657.551.770 United States Dollar
Rupiah 51.971.657.562 151.198.616.498 Rupiah
Lainnya 105.766.812 7.233.970 Others
Total 138.916.864.935 260.863.402.238 Total
87
Page 237
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 235
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
21. UTANG USAHA (lanjutan) 21. TRADE PAYABLES (continued)
. .
Akun ini merupakan utang kepada pemasok yang This account represents payables to suppliers
timbul terutama dari jasa profesional dan arising mainly from professional and construction
konstruksi, pembelian gas, persediaan, suku services, purchases of gas, inventories, spare
cadang dan lain-lain. parts, and others.
Utang usaha baik dari pemasok dalam negeri Trade payables to both local and foreign suppliers
maupun luar negeri tanpa bunga, tidak dijamin dan are non-interest bearing, unsecured and generally
secara umum mempunyai masa kredit sampai have credit terms of up to one month.
dengan satu bulan.
22. UTANG LAIN-LAIN DAN LIABILITAS KONTRAK 22. OTHER PAYABLES AND CONTRACT LIABILITY
a. Utang lain-lain a. Other payables
Akun ini terdiri atas utang kepada: This account consists of payables to:
2025 2024
PT Ormat Geothermal Power PT Ormat Geothermal Power
("OGP") 786.243.496.710 515.655.155.610 ("OGP")
Mitsui Energy Development Co., Mitsui Energy Development Co.,
Ltd. (dahulu Mitsui Oil Ltd. (formerly Mitsui Oil
Exploration Co., Ltd.) 137.116.240.170 89.941.530.000 Exploration Co., Ltd.)
RH International (Singapore) RH International (Singapore)
Corporation Pte. Ltd. 108.307.503.780 104.306.153.980 Corporation Pte. Ltd.
Solar Philippines Power Project Solar Philippines Power Project
Holdings, Inc. 87.911.453.103 85.475.824.612 Holdings, Inc.
PT Universal Gas Energy
("UGE") 69.292.188.853 60.020.930.935 PT Universal Gas Energy ("UGE")
KPIC Netherlands B.V ("KPN") 45.419.793.487 48.602.445.487 KPIC Netherlands B.V ("KPN")
PT Sangsaka Hidro Tiara
("SHT") 43.870.456.814 43.861.144.414 PT Sangsaka Hidro Tiara ("SHT")
PT Nawakara Energi Perkasa PT Nawakara Energi Perkasa
("NEP") 10.200.000.000 10.200.000.000 ("NEP")
Kanden Power-Tech Kanden Power-Tech Corporation
Corporation ("KPT") 4.967.413.721 5.445.871.721 ("KPT")
PT Lautan Air Indonesia 1.826.526.380 - PT Lautan Air Indonesia
PT Jamsostek 664.870.086 1.624.455.633 PT Jamsostek
PT Putera Instrumenindo 238.183.756 3.572.756.352 PT Putera Instrumenindo
PT Kustodian Sentral Efek PT Kustodian Sentral Efek
Indonesia - 8.089.375.000 Indonesia
PT PLN Batam - 2.144.072.026 PT PLN Batam
Riza Utama Teknik - 1.335.250.000 Riza Utama Teknik
PT Kalinyamat Perkasa - 1.229.954.814 PT Kalinyamat Perkasa
PT Wasa Mitra Engineering - 607.022.916 PT Wasa Mitra Engineeding
Lain-lain (masing-masing di Others (each below
bawah Rp1.000.000.000) 22.730.113.655 28.838.625.120 Rp1,000,000,000)
Total 1.318.788.240.515 1.010.950.568.620 Total
Dikurangi porsi jangka panjang 69.292.188.853 60.020.869.805 Less long-term portion
Porsi jangka pendek 1.249.496.051.662 950.929.698.815 Current portion
88
Page 238
2025 Management Business Company Corporate Sustainability
236 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
22. UTANG LAIN-LAIN DAN LIABILITAS KONTRAK 22. OTHER PAYABLES AND CONTRACT LIABILITY
(lanjutan) (continued)
b. Liabilitas kontrak b. Contract liability
Akun ini terdiri atas utang kepada: This account consists of payables to:
2025 2024
Porsi Jangka Pendek 16.792.588.559 8.396.294.285 Current portion
Porsi Jangka Panjang 49.851.116.451 31.252.873.177 Long-term portion
Total 66.643.705.010 39.649.167.462 Total
Utang kepada OGP merupakan utang terkait biaya The amount payable to OGP represents payable
eksplorasi dan evaluasi tenaga panas bumi. related exploration and evaluation costs of the
geothermal power plant.
Utang kepada RH International (Singapore) The amount payable to RH International
Corporation Pte. Ltd. merupakan utang terkait biaya (Singapore) Corporation Pte. Ltd. represent
pengembangan proyek pembangkit listrik Riau. payable related project development cost of Riau
power plant.
Utang kepada Mitsui Oil Exploration Co. Ltd. The amount payable to Mitsui Oil Exploration Co.
merupakan utang terkait biaya pengembangan Ltd. represent payable related project development
proyek geotermal Bonjol. cost of Bonjol geothermal.
Utang kepada Solar Philippines Power Project The amount payable to Solar Philippines Power
Holdings Inc. merupakan utang terkait biaya Project Holdings, Inc. represents payable related
pengembangan proyek pembangkit listrik solar Bali project development cost of Bali West and Bali East
Barat dan Bali Timur. Solar power plant.
Utang kepada UGE, pemegang saham UBE, The amount payable to UGE, a shareholder of
merupakan biaya konstruksi pembangkit listrik UBE, represents construction cost of the Tanjung
Tanjung Uncang yang dibayarkan oleh UGE Uncang power plant advanced by UGE (Note 7a).
(Catatan 7a). Utang kepada UGE akan dibayarkan The payable to UGE will be paid after the
setelah pelunasan pinjaman jangka panjang ELB settlement of the long-term loan of ELB from PT
dari PT Bank Syariah Indonesia (Persero) Tbk Bank Syariah Indonesia (Persero) Tbk (Note 25).
(Catatan 25).
Utang kepada KPN dan KPT merupakan dividen The amount payable to KPN and KPT represents
yang belum dibayarkan dan uang muka. unpaid dividends and advances.
Utang kepada SHT merupakan biaya konstruksi The amount payable to SHT represents
pembangkit listrik tenaga mini-hidro yang construction costs of the mini-hydro power plant
dibayarkan oleh SHT (Catatan 7a). advanced by SHT (Note 7a).
Utang kepada NEP, pemegang saham NES, The amount payable to NEP, a shareholder of
merupakan biaya pembebasan lahan dan design NES, represent land acquisitions and design study
study PLTM Sumpur yang dibayarkan oleh NEP. of PLTM Sumpur paid by NEP.
Liabilitas kontrak merupakan pendapatan mobilisasi Contract liability represents unamortized
yang belum diamortisasi sehubungan dengan mobilization revenue related to operation and
pekerjaan operasi dan pemeliharaan untuk PLN maintenance service for PLN Timor-1 and PLN
Timor-1 dan PLN Sulut. Sulut.
89
Page 239
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 237
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN 23. TAXES
a. Rincian utang pajak sebagai berikut: a. Taxes payable consist of the following:
2025 2024
Perusahaan The Company
Pajak penghasilan Income taxes
Pasal 4(2) 356.402.147 335.829.521 Article 4(2)
Pasal 21 485.180.411 4.176.572.904 Article 21
Pasal 23 228.112.838 83.583.608 Article 23
Pajak pertambahan nilai
("PPN") 49.280.000 - Value-added tax ("VAT")
Sub-total 1.118.975.396 4.595.986.033 Sub-total
Entitas anak The subsidiaries
Pajak penghasilan badan Corporate Income tax
Pasal 29 27.231.373.768 28.862.226.325 Article 29
Pajak penghasilan Income taxes
Pasal 4(2) 78.978.044 4.940.137.437 Article 4(2)
Pasal 21 1.672.028.542 3.044.015.960 Article 21
Pasal 23 1.146.350.371 962.374.271 Article 23
Pasal 25 1.383.566.811 1.263.458.841 Article 25
Pasal 26 3.902.486 612.152.640 Article 26
Pajak pertambahan nilai
("PPN") 1.054.139.178 - Value-added tax ("VAT")
Sub-total 32.570.339.200 39.684.365.474 Sub-total
Total 33.689.314.596 44.280.351.507 Total
90
Page 240
2025 Management Business Company Corporate Sustainability
238 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
b. Rekonsiliasi antara beban pajak penghasilan b. A reconciliation between the income tax
yang dihitung berdasarkan tarif pajak yang expense calculated by applying the applicable
berlaku terhadap laba sebelum pajak tax rate to the profit before income tax
penghasilan dan beban pajak penghasilan expense and income tax expense as shown in
yang disajikan pada laporan laba rugi dan the consolidated statement of profit or loss and
penghasilan komprehensif lain konsolidasian other comprehensive incomeis is as follows:
adalah sebagai berikut:
2025 2024
Laba (rugi) sebelum pajak
penghasilan pada laporan Profit (loss) before income tax
laba rugi dan penghasilan per consolidated statement of
komprehensif lain profit or loss and other
konsolidasian 374.549.826.824 (47.482.051.418) comprehensive income
Dikurangi laba sebelum pajak Less profit before income tax of
penghasilan entitas anak (447.751.907.110) (184.089.446.762) Subsidiaries
Rugi sebelum pajak Loss before income tax - the
penghasilan - Perusahaan (73.202.080.286) (231.571.498.180) Company
Pajak penghasilan sesuai tarif Income tax expense at
yang berlaku (16.104.457.663) (50.945.729.600) applicable tax rate
Efek pajak atas penyesuaian
fiskal: Tax effect of fiscal adjustments:
Penghasilan bukan objek
pajak (29.477.573.906) (22.321.543.199) Non-taxable income
Beban yang tidak dapat
dikurangkan 26.434.779.865 22.941.576.760 Non-deductible expenses
Pendapatan bunga yang Interest income subjected to
dikenakan pajak final (6.874.757.245) (1.184.621.185) final tax
Aset pajak tangguhan yang Unrecognized deferred tax asset
tidak diakui untuk rugi fiskal 28.325.670.615 49.288.549.251 on fiscal loss carryforward
Penyesuaian pada pajak
penghasilan tahun Adjustment in respect of current
sebelumnya *) 12.857.562.740 - income tax of previous year *)
Aset pajak tangguhan tahun lalu Written off prior year deferred
yang dihapusbukukan 8.048.626.256 - tax asset
Beban/(manfaat) pajak Income tax expense/(benefit) -
penghasilan - Perusahaan 23.209.850.662 (2.221.767.973) the Company
Beban pajak penghasilan - Income tax expense - the
Entitas anak 108.199.719.003 63.128.740.821 Subsidiaries
Beban pajak penghasilan -
neto 131.409.569.665 60.906.972.848 Income tax expense - net
c. Beban pajak Grup terdiri dari sebagai berikut: c. Income tax expense of the Group consists of
the following:
2025 2024
Beban pajak kini Current income tax expense
Perusahaan *) 12.857.562.740 - The Company *)
Entitas anak 83.312.321.550 69.254.531.879 Subsidiaries
Sub-total 96.169.884.290 69.254.531.879 Sub-total
Beban pajak tangguhan Deferred income tax expense
Perusahaan 10.352.287.922 (2.221.767.973) The Company
Entitas anak 24.887.397.453 (6.125.791.058) Subsidiaries
Sub-total 35.239.685.375 (8.347.559.031) Sub-total
Total income tax expense -
Total beban pajak - neto 131.409.569.665 60.906.972.848 net
*) Penyesuaian beban pajak penghasilan Perusahaan untuk tahun 2021 *) Adjustment of the Company's 2021 fiscal year income tax expense
91
Page 241
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 239
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
d. Aset pajak tangguhan d. Deferred tax assets
Rincian aset dan liabilitas pajak tangguhan Details of deferred tax assets and liabilities as
pada tanggal 31 Desember 2025 dan 2024 of December 31, 2025 and 2024, are as
adalah sebagai berikut: follows:
2025
(Dibebankan)
Dikreditkan ke
laporan laba rugi
konsolidasian/ (Dibebankan)
(Charged) Credit to Dikreditkan ke
consolidated ekuitas/
31 Desember 2024/ statement of profit (Charged) Credit to 31 Desember 2025/
December 31, 2024 or loss equity December 31, 2025
Perusahaan The Company
Aset (liabilitas) pajak
tangguhan Deferred tax asset (liability)
Employee service
Liabilitas imbalan kerja 9.973.340.300 228.823.519 556.289.821 10.758.453.640 entitlements
Properties, plant and
Aset tetap 2.966.039.040 (2.946.600.250) - 19.438.790 equipment
Aset hak guna (2.766.464.973) (7.289.767.144) - (10.056.232.117) Right-of-use assets
Liabilitas sewa 2.857.542.226 7.703.882.209 - 10.561.424.435 Lease liabilities
Penyisihan atas kerugian Allowance for expected
kredit ekpektasian 8.048.626.256 (8.048.626.256) - - credit losses
Keuntungan nilai wajar atas Gain on fair value on long-
investasi jangka panjang (148.554.866.921) - - (148.554.866.921) term investment
Liabilitas pajak tangguhan -
neto (127.475.784.072) (10.352.287.922) 556.289.821 (137.271.782.173) Deferred tax liability - net
Entitas anak The Subsidiaries
Aset pajak tangguhan 63.576.309.505 (26.401.540.013) 642.978.600 37.817.748.092 Deferred tax assets
Liabilitas pajak tangguhan (606.345.711.613) 1.514.142.560 (1.671.143.284) (606.502.712.337) Deferred tax liabilities
Konsolidasian Consolidated
Aset pajak tangguhan 63.576.309.505 (26.401.540.013) 642.978.600 37.817.748.092 Deferred tax assets
Liabilitas pajak tangguhan (733.821.495.685) (8.838.145.362) (1.114.853.463) (743.774.494.510) Deferred tax liabilities
Jumlah Beban Pajak Total Deferred Tax
Tangguhan Grup (35.239.685.375) Expense of the Group
Beban Pajak Tangguhan Deferred Tax Expense
dari pendapatan from other
komprehensif lain (471.874.863) comprehensive income
92
Page 242
2025 Management Business Company Corporate Sustainability
240 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
d. Aset pajak tangguhan (lanjutan) d. Deferred tax assets (continued)
Rincian aset dan liabilitas pajak tangguhan ‘Details of deferred tax assets and liabilities as
pada tanggal 31 Desember 2025 dan 2024 of December 31, 2025 and 2024, are as
adalah sebagai berikut: follows:
2024
(Dibebankan)
Dikreditkan ke
laporan laba rugi
konsolidasian/ (Dibebankan)
(Charged) Credit to Dikreditkan ke
consolidated ekuitas/
31 Desember 2023/ statement of profit (Charged) Credited 31 Desember 2024/
December 31, 2023 or loss to equity December 31, 2024
Perusahaan The Company
Aset (liabilitas) pajak
tangguhan Deferred tax asset (liability)
Employee service
Liabilitas imbalan kerja 8.076.638.680 2.376.111.540 (479.409.920) 9.973.340.300 entitlements
Properties, plant and
Aset tetap 2.817.630.348 148.408.692 - 2.966.039.040 equipment
Aset hak guna (3.657.117.340) 890.652.367 - (2.766.464.973) Right-of-use assets
Liabilitas sewa 4.050.946.852 (1.193.404.626) - 2.857.542.226 Lease liabilities
Nilai wajar aset tersedia Fair value available for sale
untuk dijual - - - - investment
Penyisihan atas kerugian Allowance for expected
kredit ekpektasian 8.048.626.256 - - 8.048.626.256 credit losses
Keuntungan nilai wajar atas Gain on fair value on long-
investasi jangka panjang (148.554.866.921) - - (148.554.866.921) term investment
Liabilitas pajak tangguhan -
neto (129.218.142.125) 2.221.767.973 (479.409.920) (127.475.784.072) Deferred tax liability - net
Entitas anak The Subsidiaries
Aset pajak tangguhan 12.039.741.417 51.536.568.088 - 63.576.309.505 Deferred tax assets
Liabilitas pajak tangguhan (527.588.889.835) (45.410.777.030) (33.346.044.748) (606.345.711.613) Deferred tax liabilities
Konsolidasian Consolidated
Aset pajak tangguhan 12.039.741.417 51.536.568.088 - 63.576.309.505 Deferred tax assets
Liabilitas pajak tangguhan (656.807.031.960) (43.189.009.057) (33.825.454.668) (733.821.495.685) Deferred tax liabilities
Jumlah Beban Pajak Total Deferred Tax
Tangguhan Grup 8.347.559.031 Expense of the Group
Manfaat Pajak Tangguhan Deferred Tax Benefit from
dan pendapatan other comprehensive
komprehensif lain (33.825.454.668) income
93
Page 243
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 241
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
e. Beban pajak kini e. Current tax
Rekonsiliasi antara laba sebelum pajak A reconciliation between profit before income
penghasilan menurut laporan laba rugi dan tax from continuing operations per
penghasilan komprehensif lain konsolidasian consolidated statement of profit or loss and
adalah sebagai berikut: other comprehensive income is as follows:
2025 2024
Laba (rugi) sebelum pajak
penghasilan pada laporan Profit (loss) before income tax
laba rugi dan penghasilan per consolidated statements
komprehensif lain of profit or loss and other
konsolidasian 374.549.826.824 (47.482.051.419) comprehensive income
Dikurangi laba sebelum pajak
penghasilan entitas anak Less profit before income tax of
konsolidasian (447.751.907.110) (184.089.446.762) consolidated subsidiaries
Rugi sebelum pajak Loss before income tax - the
penghasilan - Perusahaan (73.202.080.286) (231.571.498.181) Company
Koreksi fiskal: Fiscal corrections:
Beda tetap (45.079.778.573) (2.566.237.709) Permanent differences
Beda temporer (10.471.189.391) 10.098.875.659 Temporary differences
Estimasi rugi fiskal tahun Estimated fiscal loss for the
berjalan (128.753.048.250) (224.038.860.231) year
Rugi fiskal tahun-tahun
sebelumnya (694.281.258.437) (470.242.398.206) Prior years fiscal losses
Penyesuaian rugi fiskal tahun Prior years fiscal losses
sebelumnya 910.069.116 - adjustments
Rugi fiskal kumulatif - Accumulated losses - the
Perusahaan (822.124.237.571) (694.281.258.437) Company
Estimasi pajak penghasilan kini - - Estimated current income tax
Jumlah laba fiskal Grup untuk tahun pajak The amount of the Group’s income tax for the
2025 dan 2024 sesuai dengan perhitungan di fiscal year 2025 and 2024, as stated in the
atas telah dilaporkan oleh Perusahaan dalam above, have been reported by the Company in
Surat Pemberitahuan Tahunan (“SPT”) PPh its annual tax return (“SPT”) to be submitted to
Badan ke Kantor Pajak. the Tax Office.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
aset pajak tangguhan yang tidak diakui adalah unrecognized deferred tax assets is amounted
masing-masing sebesar Rp191.457.874.605 to Rp191,457.874,605 and
dan Rp170.564.859.827 dari rugi fiskal yang Rp170,564,859,827, respectively, resulted
dapat dikompensasi dan biaya yang belum from the tax losses carried forward and
terpulihkan. Rugi fiskal tersebut terkait kepada unrecovered costs. These tax losses relate to
entitas yang masih mengalami kerugian, entities which have incurred losses, have not
belum kadaluwarsa dan tidak dapat digunakan yet expired and may not be used to offset
untuk disalinghapuskan dengan penghasilan taxable profits elsewhere in the Group.
kena pajak entitas lain dalam Grup.
94
Page 244
2025 Management Business Company Corporate Sustainability
242 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
f. Estimasi pengembalian pajak f. Estimated claims for tax refund
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
rincian estimasi pengembalian pajak atas lebih details of the claims for tax refund related to
bayar pajak penghasilan badan dan pajak the overpayment corporate income tax and
pertambahan nilai (PPN) adalah sebagai value-added tax (VAT) are as follows:
berikut:
2025 2024
Perusahaan The Company
Pajak penghasilan badan Corporate income tax
2024 267.471.516 2.905.991.916 2024
2023 - 12.426.787.478 2023
Entitas anak Subsidiaries
Pajak penghasilan badan Corporate income tax
2025 18.736.331.028 - 2025
2024 3.280.058.682 10.865.179.362 2024
2023 22.405.379.688 34.412.248.141 2023
2019 - 6.952.237.834 2019
2016 - 3.922.353.364 2016
Sub-total 44.689.240.914 71.484.798.095 Sub-total
PPN VAT
2025 18.112.377.101 - 2025
2024 2.113.038.402 19.077.819.491 2024
2023 - 70.729.544 2023
2019 - 867.481.318 2019
2018 - 2.103.097.524 2018
2016 - 1.490.734.662 2016
Sub-total 20.225.415.503 23.609.862.539 Sub-total
Total estimasi pengembalian
pajak 64.914.656.417 95.094.660.634 Total claims for tax refund
Dikurangi bagian tidak lancar 32.844.909.870 66.383.302.418 Less non-current portion
Bagian lancar 32.069.746.547 28.711.358.216 Current portion
95
Page 245
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 243
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
g. Surat Ketetapan Pajak g. Tax Assessment Letters
Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
sampai tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024 are as follows:
adalah sebagai berikut:
PT Bio Jatropha Indonesia
Nomor dan
Jumlah
Penilaian Tanggal Status pada Status pada
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut
Grup/ Amount Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2025/ Status 2024/ Status
tax and period Amount
Assessed by the Group Date of as of as of
Tax Authority Latest Tax December December
Letters 31, 2025 31, 2024
PPh 23 SKP Kurang Bayar/ Rp5.614.008.876 Nihil/Nil Berbagai Peninjauan Peninjauan
Berbagai masa di Underpayment of Nomor/Various Kembali ditolak Kembali
tahun pajak 2019/ Tax Assessment numbers oleh diajukan oleh
WHT Art 23 Various Letter Mahkamah DJP/Judicial
tax periods 2019 16 Mei 2024/ Agung/ Review filed by
May 16, 2024 Judicial DGT
Review is
rejected by
Supreme
Courtfiled
PPh 23 SKP Kurang Bayar/ Rp2.663.607.207 Rp2.537.952 Berbagai Peninjauan Keberatan/
Berbagai masa di Underpayment of Nomor/Various Kembali ditolak Objection
tahun pajak 2020/ Tax Assessment numbers oleh
WHT Art 23 Various Letter Mahkamah
tax periods 2020 15 April 2025/ Agung/
April 15, 2025 Judicial
Review is
rejected by
Supreme
Courtfiled
PT Dalle Energy Batam
Nomor dan
Jumlah
Tanggal Status pada Status pada
Penilaian
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut
Masa/ Type of Jenis/ Type Otoritas Pajak/ Grup/ Amount Terakhir/ Desember Desember
tax and period Amount of According to Number and 2025/ Status 2024/ Status
the Group Date of as of as of
Assessed by
Latest Tax December December
Tax Authority
Letters 31, 2025 31, 2024
PPh Badan SKP Lebih Bayar/ Rp1.008.760.284 Rp7.960.998.326 PUT-011749.1 Peninjauan Banding/
Desember 2019/ Overpayment of Tax 5/2022/PP/ Kembali Appeal
Corporate Income Assessment Letter M.XXB/ diajukan oleh
Tax December 2019 DJP/
08 Mei 2025/ Judicial
May 8, 2025 Review filed by
DGT
PPh Badan SKP Lebih Bayar/ Rp10.900.761.992 Rp22.012.817.892 00030/406/23/2 Keberatan/ Pemeriksaan
Desember 2023/ Overpayment of Tax 17/25 Objection Pajak/
Corporate Income Assessment Letter Tax Audit
Tax December 2023 28 April 2025/
April 28, 2025
PT Medco Power Indonesia
Nomor dan
Jumlah Tanggal
Penilaian Status pada Status pada
Jenis Pajak dan Menurut Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Grup/ Amount Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/
of According to Number and 2025/ Status 2024/ Status
tax and period Amount the Group Date of
Assessed by as of as of
Latest Tax December December
Tax Authority Letters 31, 2025 31, 2024
PPh 26 SKP Kurang Bayar/ Rp161.431.931 Nihil/Nil KEP-00069/ Banding/ Keberatan/
Januari 2022/WHT Underpayment of KEB-CT/ Appeal Objection
Art 26 January 2022 Tax Assessment WPJ.07/2025
Letter
14 Oktober
2024/October
14, 2024
96
Page 246
2025 Management Business Company Corporate Sustainability
244 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
g. Surat Ketetapan Pajak (lanjutan) g. Tax Assessment Letters (continued)
Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
sampai tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024 are as follows:
adalah sebagai berikut: (lanjutan) (continued)
PT Medco Power Indonesia (lanjutan/continued)
Nomor dan
Jumlah
Penilaian Tanggal Status pada Status pada
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut
Grup/ Amount of Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/ According to the Number and 2025/ Status 2024/ Status
tax and period Amount
Assessed by Group Date of as of as of
Tax Authority Latest Tax December December
Letters 31, 2025 31, 2024
PPh Badan SKP Lebih Bayar/ Rugi fiskal Rugi fiskal 00040/406/23/0 Keberatan/ Pemeriksaan
Desember 2023/ Overpayment of Rp170.640.362.534 Rp317.713.535.609/ 81/25 Objection Pajak/
Corporate Income Tax Assessment /Tax loss of Tax loss of Tax Audit
Tax December 2023 Letter Rp170,640,362,534 Rp317,713.,535.,609 08 Agustus
2025/
August 8, 2025
PPN Membangun SKP Kurang Bayar/ Rp3.071.157.248 Nihil/Nil PUT-64340/PP/ Peninjauan Banding
Sendiri Underpayment of M.VIIIB/16/201 Kembali dikabulkan
Desember 2009/ Tax Assessment 5 diajukan oleh seluruhnya/
VAT on Self- Letter DJP/ Appeal is fully
Construction 30 September Judicial granted
Activities December 2025/ Review filed by
2009 September 30, DGT
2025
PT Mitra Energi Batam
Nomor dan
Jumlah Tanggal
Penilaian Status pada Status pada
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut
Masa/ Type of Jenis/ Type Otoritas Pajak/ Grup/ Amount Terakhir/ Desember Desember
tax and period Amount of According to Number and 2025/ Status 2024/ Status
Assessed by the Group Date of as of as of
Latest Tax December December
Tax Authority
Letters 31, 2025 31, 2024
PPh Badan SKP Lebih Bayar/ Rp3.229.558.100 Rp12.519.271.350 PUT-011763.1 Peninjauan Banding
Desember 2019/ Overpayment of 5/2022/PP/ Kembali dikabulkan
Corporate Income Tax Assessment M.IIIB Tahun diajukan oleh sebagian/
Tax December 2019 Letter 2024 DJP/ Appeal is
Judicial partially
29 Oktober Review filed by granted**)
2024/October DGT
29, 2024
PPh 21 SKP Kurang Rp175.434.607 Nihil/Nil PUT-011762.10 Selesai/Closed Banding
Desember 2019/ Bayar/ /2022/PP/ dikabulkan
WHT Art 21 Underpayment of M.IIIB Tahun seluruhnya/
December 2019 Tax Assessment 2024 Appeal is fully
Letter granted**)
29 Oktober
2024/ October
29, 2024
PPh Badan SKP Lebih Bayar/ Kompensasi rugi Kompensasi rugi PUT-004252.1 Peninjauan Banding
Desember 2020/ Overpayment of fiskal nihil/Zero tax fiskal 5/2023/PP/ Kembali dikabulkan
Corporate Income Tax Assessment loss carried forward Rp12.759.250.307/ M.IIIB Tahun diajukan oleh seluruhnya/
Tax December 2020 Letter Zero tax loss 2024 DJP/Judicial Appeal is fully
carried forward Review filed by granted**)
Rp12,759,250,307 29 Oktober DGT
2024/October
29, 2024
97
Page 247
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 245
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
g. Surat Ketetapan Pajak (lanjutan) g. Tax Assessment Letters (continued)
Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
sampai tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024 are as follows:
adalah sebagai berikut: (lanjutan) (continued)
PT Energi Listrik Batam
Nomor dan
Jumlah
Penilaian Tanggal Status pada Status pada
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut
Grup/ Amount Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2025/ Status 2024/ Status
tax and period Amount
Assessed by the Group Date of as of as of
Tax Authority Latest Tax December December
Letters 31, 2025 31, 2024
PPh Badan SKP Nihil/Nil of Rugi fiskal Rugi fiskal 00010/506/20/2 Keberatan/ —
Desember 2020/ Tax Assessment US$2.048.672/ US$2.348.672/Tax 17/25 Objection
Corporate Income Letter Tax loss of loss of
Tax December 2020 US$2,048,672 US$2,348,672 04 November
2025/
November 4,
2025
PT Pembangkitan Pusaka Parahiangan
Nomor dan
Jumlah Tanggal
Penilaian Status pada Status pada
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut
Masa/ Type of Jenis/ Type Otoritas Pajak/ Grup/ Amount Terakhir/ Desember Desember
tax and period Amount of According to Number and 2025/ Status 2024/ Status
Assessed by the Group Date of as of as of
Tax Authority Latest Tax December December
Letters 31, 2025 31, 2024
PPh 23 SKP Kurang Rp7.370.640.332 Rp1.001.040.299 00002/203/23/4 Keberatan/ —
Mei 2023/WHT Art Bayar/ 29/25 Objection
23 May 2023 Underpayment of
Tax Assessment 24 April 2025/
Letter April 24, 2025
PT Medco Geothermal Sarulla
Nomor dan
Jumlah
Penilaian Tanggal Status pada Status pada
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut Grup/ Amount Terakhir/
Masa/ Type of Jenis/ Type Otoritas Pajak/ Desember Desember
of According to Number and 2025/ Status 2024/ Status
tax and period Amount
Assessed by the Group Date of as of as of
Latest Tax December December
Tax Authority Letters 31, 2025 31, 2024
PPN SKP Lebih Bayar/ Rp1.929.940.449 Rp2.113.035.193 00064/407/24/0 Keberatan/ —
Desember 2024/ Overpayment of 95/25 Objection
VAT December Tax Assessment
2024 Letter 18 Desember
2025/
December 18,
2025
98
Page 248
2025 Management Business Company Corporate Sustainability
246 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
g. Surat Ketetapan Pajak (lanjutan) g. Tax Assessment Letters (continued)
Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
sampai tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024 are as follows:
adalah sebagai berikut: (lanjutan) (continued)
PT TJB Power Services
Jumlah Nomor dan Status pada Status pada
Penilaian
Jumlah menurut Tanggal
Surat tanggal 31 tanggal 31
Jenis Pajak dan Menurut Pajak Desember Desember
Grup/ Amount
Masa/ Type of Jenis/ Type Otoritas Pajak/ Terakhir/
of According to Number 2025/ Status 2024/ Status
tax and period Amount and as of as of
the Group
Assessed by Date of Latest December December
Tax Authority Tax Letters 31, 2025 31, 2024
PPN SKP Kurang Bayar Rp343.148.076 Nihil/Nil PUT-004849.16/ Banding Banding/
Juli 2016/ Tambahan/ 2021/PP/M.IVB dikabulkan Appeal*)
VAT July 2016 Additional Tahun 2025 seluruhnya/
Underpayment of Appeal is fully
Tax Assessment 20 Februari granted
Letter 2025/
February 20,
2025
PPN SKP Kurang Bayar Rp1.147.586.586 Nihil/Nil PUT-004850.16/ Peninjauan Banding/
September 2016/ Tambahan/ 2021/PP/M.IVB Kembali Appeal*)
VAT September Additional Tahun 2025 diajukan oleh
2016 Underpayment of DJP/ Judicial
Tax Assessment 20 Februari Review filed by
Letter 2025/ DGT
February 20,
2025
PPh 26 SKP Kurang Rp1.278.674.504 Nihil/Nil PUT-004848.13/ Peninjauan Banding/
September 2016/ Bayar/ 2021/PP/M.IVB Kembali Appeal*)
WHT Art 26 Underpayment of Tahun 2025/ diajukan oleh
September 2016 Tax Assessment DJP/Judicial
Letter 20 Februari Review filed by
2025/February DGT
20, 2025
PPh Badan SKP Kurang Rp3.624.483.370 Rp980.804.510 PUT-004847.15/ Peninjauan Banding/
Desember 2016/ Bayar/ 2021/PP/M.IVB Kembali Appeal*)
Corporate Income Underpayment of Tahun 2025 diajukan oleh
Tax December 2016 Tax Assessment DJP/Judicial
Letter 20 Februari Review filed by
2025/ DGT
February 20,
2025
PPN Surat Tagihan Rp792.422.654 Nihil/Nil PUT-000159.99/ Gugatan Gugatan/
Maret 2018/ Pajak/ 2021/PP/M.IVB dikabulkan Lawsuit*)
VAT March 2018 Tax Collection Tahun 2025 seluruhnya/
Letter Lawsuit is fully
20 Februari granted
2025/
February 20,
2025
PPN SKP Lebih Bayar/ Rp755.668.191 Rp1.336.639.627 PUT-011141.16/2 Peninjauan Banding/
Juni 2019/ Overpayment of 021/PP/M.IVB Kembali Appeal*)
VAT June 2019 Tax Assessment Tahun 2025 diajukan oleh
Letter DJP/ Judicial
20 Februari Review filed by
2025/ DGT
February 20,
2025
PPN Surat Tagihan Rp807.970.989 Rp132.800 Berbagai Nomor/ Peninjauan Gugatan/
Berbagai masa di Pajak/ Various numbers Kembali Lawsuit
tahun pajak 2019/ Tax Collection diajukan oleh
VAT Various tax Letter 20 Februari DJP/Judicial
periods 2019 2025/February Review filed by
20, 2025 DGT
PPN SKP Lebih Bayar/ Rp746.870.324 Rp1.536.216.887 PUT-011217.16/ Peninjauan Banding/
Agustus 2020/ Overpayment of 2022/PP/M.IVB Kembali Appeal
VAT August 2020 Tax Assessment Tahun 2025 diajukan oleh
Letter DJP/Judicial
20 Februari Review filed by
2025/February DGT
20, 2025
99
Page 249
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 247
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
g. Surat Ketetapan Pajak (lanjutan) g. Tax Assessment Letters (continued)
Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
sampai tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024 are as follows:
adalah sebagai berikut: (lanjutan) (continued)
PT TJB Power Services (lanjutan/continued)
Nomor dan
Jumlah
Penilaian Tanggal Status pada Status pada
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut
Grup/ Amount Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2025/ Status 2024/ Status
tax and period Amount
Assessed by the Group Date of as of as of
Tax Authority Latest Tax December December
Letters 31, 2025 31, 2024
PPh 26 SKP Kurang Rp2.173.051.770 Nihil/Nil Berbagai Selesai/ Keberatan
Berbagai masa di Bayar/ Nomor/Various Closed dikabulkan
tahun pajak 2018/ Underpayment of numbers seluruhnya/
WHT Art 26 Various Tax Assessment Objection fully
tax periods 2018 Letter 26 Juli 2024/ granted
July 26, 2024
PPN SKP Lebih Bayar/ Rp3.484.826.434 Rp3.509.760.902 Berbagai Keberatan/ Keberatan/
Berbagai masa di Overpayment of Nomor/Various Objection Objection
tahun pajak 2023/ Tax Assessment numbers
VAT Various tax Letter
periods 2023 25 Maret 2024/
March 25, 2024
PPN SKP Lebih Bayar/ Rp4.039.284.109 Rp4.055.032.621 Berbagai Keberatan/ Keberatan/
Berbagai masa di Overpayment of Nomor/Various Objection Objection
tahun pajak 2023/ Tax Assessment numbers
VAT Various tax Letter
periods 2023 Mei-Jun 2024/
May-Jun 2024
*) Banding dikabulkan seluruhnya pada Februari 2025 *) Appeal is fully granted in February 2025
**) Peninjauan Kembali diajukan oleh DJP pada Februari 2025 **) Judicial Review filed by DGT in February 2025
h. Pajak Penghasilan Pilar Dua h. Pillar Two income taxes
Pengenaan Pajak Minimum Global (“Peraturan The Global Anti-Base Erosion (“Pillar 2 Rules”)
Pillar 2”) diadopsi di Indonesia pada akhir were adopted in Indonesia at the end of 2024
tahun 2024 melalui penerbitan Peraturan through the issuance of the Ministry of Finance
Menteri Keuangan Republik Indonesia No. 136 Regulation of the Republic of Indonesia No.
Tahun 2024 yang mulai berlaku sejak 1 136 Year 2024 which applicable starting
Januari 2025. Berdasarkan peraturan tersebut, January 1, 2025. Under these rules, the Group
Grup termasuk dalam cakupan dan diwajibkan falls within the scope and is required to apply
untuk menerapkan Peraturan Pillar 2, Pillar 2 Rules. The Company and its
Perusahaan dan entitas anaknya dianggap subsidiaries are considered constituent entities
sebagai entitas konstituen dari PT Kalibiru of PT Kalibiru Energi Lestari (“KEL”) of which
Energi Lestari (“KEL”) di mana KEL KEL is the ultimate parent entity (“UPE”).
merupakan entitas induk utama (ultimate
parent entity atau “UPE”).
Grup telah melakukan penilaian atas potensi The Group has assessed its potential
eksposurnya atas kewajiban untuk membayar exposure from the requirement to pay top-up
pajak tambahan berdasarkan Peraturan Pillar tax under Pillar 2 Rules and the applicable
2 dan ketentuan safe harbour yang berlaku, safe harbour provisions, namely, the
yaitu transitional country-by-country report transitional country-by-country report safe
safe harbor (“CbCR Safe Harbor”). harbour (“CbCR Safe Harbor”). Based on its
Berdasarkan penilaian sesuai dengan assessment under the full Pillar 2 Rules and
Peraturan Pillar 2 secara penuh dan CbCR CbCR Safe Harbour, the Group has
Safe Harbor, Grup menentukan bahwa tidak determined that no top-up tax is payable under
terdapat pajak tambahan yang terutang the Pillar 2 Rules.
berdasarkan Peraturan Pillar 2.
100
Page 250
2025 Management Business Company Corporate Sustainability
248 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. .
h. Pajak Penghasilan Pilar Dua (lanjutan) h. Pillar Two income taxes (continued)
Untuk tahun yang berakhir pada tanggal 31 For the year ended December 31, 2025, the
Desember 2025, Grup telah menerapkan Group has applied amendment to PSAK 212:
amandemen PSAK 212: Pajak Penghasilan Income Taxes, which provides a mandatory
yang memberikan pengecualian wajib temporary exception from the recognition or
sementara atas pengakuan atau disclosure of deferred taxes related to Pillar 2
pengungkapan pajak tangguhan terkait Rules.
dengan Peraturan Pillar 2.
Berdasarkan informasi yang tersedia saat ini, Based on currently available information, the
Grup tidak mengharapkan adanya dampak Group does not expect any material impact on
material terhadap laporan keuangan the consolidated financial statements.
konsolidasian.
24. BEBAN AKRUAL 24. ACCRUED EXPENSES
Akun ini terdiri dari: This account consists of:
2025 2024
Kontrak jasa 850.469.436.250 325.808.281.846 Contract services
Bunga 97.830.423.716 120.888.201.094 Interest
Jasa manajemen dan dukungan Management and technical support
teknis 10.937.004.812 9.288.121.715 service
Jasa profesional 10.417.827.086 22.051.779.311 Professional fees
Gas 9.925.529.130 9.558.836.957 Gas
Sewa 4.082.491.982 3.053.374.557 Rental
Asuransi 3.577.970.229 - Insurance
Gaji dan imbalan kerja 2.247.068.957 9.112.862.896 Salaries and employee benefits
Lain-lain 7.849.412.432 4.693.898.941 Others
Total 997.337.164.594 504.455.357.317 Total
Dikurangi porsi jangka pendek 747.917.722.754 418.497.181.717 Less current portion
Porsi jangka panjang 249.419.441.840 85.958.175.600 Long-term portion
Akrual kontrak jasa terutama terkait dengan Accrued contract services mainly related to major
komitmen biaya pemeliharaan besar untuk proyek overhaul commitment cost related to DEB
perpanjangan DEB dan ELB CCPP. extension project and ELB CCPP.
101
Page 251
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 249
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA INSTITUTION
Grup mendapatkan pinjaman jangka panjang dari The Group obtained loan from Banks and Other
Bank dan Lembaga Keuangan Lainnya serta Financial Institutions and through the issuance of
penerbitan instrumen pinjaman Perusahaan. the Company’s loan instrument.
Pinjaman yang diperoleh Perusahaan dan Entitas The Company’s and its Subsidiaries debt from
Anaknya dari Bank dan Lembaga Keuangan Bank and Other Financial Institution consists of the
Lainnya terdiri dari: following:
2025 2024
Pinjaman jangka pendek Short-term loan
Pihak ketiga Third parties
Dolar Amerika Serikat United States Dollar
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk - 236.705.987.209 (Persero) Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk - 120.246.955.194 (Persero) Tbk
PT Bank Mandiri (Persero) PT Bank Mandiri (Persero)
Tbk - 35.643.291.761 Tbk
Rupiah Rupiah
PT Bank Maybank Indonesia PT Bank Maybank Indonesia
Tbk 50.000.000.000 40.000.000.000 Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk - 339.180.336.316 (Persero) Tbk
PT Bank Mandiri (Persero) PT Bank Mandiri (Persero)
Tbk - 104.518.763.800 Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk - 7.634.445.950 (Persero) Tbk
Total 50.000.000.000 883.929.780.230 Total
Pinjaman jangka panjang Long-term loan
Pihak berelasi Related parties
Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk Indonesia 1906 Tbk (Note
(Catatan 8e) *) - 52.526.500.000 8e) *)
Pihak ketiga Third parties
Dolar Amerika Serikat United States Dollar
Konsorsium pemberi
pinjaman Riau 3.127.327.574.549 3.177.230.398.844 Riau lenders consortium
PT Sarana Multi Infrastruktur PT Sarana Multi Infrastruktur
(Persero) 1.761.945.199.250 1.131.181.289.160 (Persero)
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 1.125.749.304.587 674.232.982.350 (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 151.244.620.177 85.136.050.216 (Persero) Tbk
Subtotal 6.166.266.698.563 5.120.307.220.570 Subtotal
102
Page 252
2025 Management Business Company Corporate Sustainability
250 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman yang diperoleh Perusahaan dan Entitas The Company’s and its Subsidiaries debt from
Anaknya dari Bank dan Lembaga Keuangan Bank and Other Financial Institution consists of the
Lainnya terdiri dari: (lanjutan) following: (continued)
2025 2024
Pinjaman jangka panjang (lanjutan) Long-term loan (continued)
Pihak ketiga (lanjutan) Third parties (continued)
Rupiah Rupiah
PT Bank Mandiri (Persero) PT Bank Mandiri (Persero)
Tbk 679.732.556.455 - Tbk
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 252.776.950.000 180.081.000.000 (Persero) Tbk
PT Bank KEB Hana Indonesia 133.500.000.000 150.000.000.000 PT Bank KEB Hana Indonesia
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 126.000.000.000 144.000.000.000 (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 33.905.931.882 14.057.074.801 (Persero) Tbk
PT Bank Maybank Indonesia PT Bank Maybank Indonesia
Tbk - 695.805.775.000 Tbk
PT Mandiri Tunas Finance - 240.350.000 PT Mandiri Tunas Finance
Biaya transaksi pinjaman yang Unamortized loan transaction
belum diamortisasi (367.720.448.522) (361.215.413.710) costs
Total 7.024.461.688.378 5.943.276.006.661 Total
Dikurangi bagian yang jatuh tempo
dalam satu tahun 609.253.782.578 340.930.502.489 Less current maturities
Bagian jangka panjang - neto 6.415.207.905.800 5.602.345.504.172 Long-term maturities - net
Tingkat suku bunga per tahun untuk pinjaman dari bank Annual interest rates on loans from bank and other
dan lembaga keuangan lainnya berkisar: financial institutions ranging:
2025 2024
Rupiah 5,90% - 8,50% 4,55% - 8,50% Rupiah
Dolar Amerika Serikat 5,40% - 6,95% 3,92% - 6,30% United States Dollar
*) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk *) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk
tidak lagi diklasifikasikan sebagai pihak berelasi bagi Grup. ceased to be a related party of the Group.
Berdasarkan perjanjian atas pinjaman-pinjaman di Under its loan agreements, the Group is subject to
atas, Grup harus mematuhi batasan-batasan various covenants, among others, to obtain written
tertentu, antara lain untuk memperoleh persetujuan approval from the lenders before entering into
tertulis dari pemberi pinjaman sebelum melakukan certain transactions such as mergers, acquisitions,
transaksi-transaksi tertentu seperti mengadakan liquidation or change in status and Articles of
penggabungan usaha, pengambilalihan, likuidasi Association, reducing the authorized, issued and
atau perubahan status serta Anggaran Dasar, fully paid capital; restrictions on lending money to
mengurangi modal dasar, ditempatkan dan disetor third parties; negative pledges, with certain
penuh; pembatasan dalam pemberian pinjaman exceptions; restrictions on change in core business
kepada pihak ketiga; penjaminan negatif (negative activities and declaring and paying dividends in
pledge), dengan beberapa pengecualian khusus; excess of a certain percentage of consolidated net
pembatasan dalam mengubah aktivitas utama dan income; and requirement to comply with certain
mengumumkan dan membayar dividen melebihi financial ratios.
persentase tertentu dari laba neto konsolidasian;
dan harus mematuhi rasio-rasio keuangan tertentu.
103
Page 253
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 251
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
PT Medco Power Indonesia (“MPI”) PT Medco Power Indonesia (“MPI”)
PT Bank Woori Saudara Indonesia 1906 Tbk - PT Bank Woori Saudara Indonesia 1906 Tbk -
Fasilitas Kredit Pendanaan Umum General Funding Credit Facility
Pada tanggal 27 Mei 2019, MPI menandatangani On May 27, 2019, MPI signed a credit facility
perjanjian kredit dengan PT Bank Woori Saudara agreement with PT Bank Woori Saudara Indonesia
Indonesia 1906 Tbk (“BWS”) sebesar 1906 Tbk (“BWS”) amounting to US$20,000,000
AS$20.000.000 dengan jangka waktu 2 tahun. with 2 years tenor. The loan facility is unsecured.
Fasilitas ini tidak dijamin dengan agunan khusus. The facilities have been extended several times to
Jatuh tempo fasilitas ini telah diperpanjang August 25, 2023. On August 25, 2023, MPI has
beberapa kali hingga 25 Agustus 2023. Pada 25 extend the credit facility with BWS for
Agustus 2023, MPI melakukan perpanjangan US$11,500,000 with 9 months tenor.
fasilitas kredit di BWS sebesar AS$11.500.000
dengan jangka waktu 9 bulan.
Pada tanggal 25 Januari 2024, MPI melakukan On January 25, 2024, MPI has made voluntary
pelunasan dipercepat sebesar AS$11.000.000 repayment amounting to US$11,000,000 to BWS.
kepada BWS.
Pada tanggal 30 Mei 2024, MPI melakukan On May 30, 2024, MPI signed a credit facility
penandatanganan perjanjian kredit dengan BWS agreement with BWS US$8,000,000 with 2 years
sebesar AS$8.000.000 dengan jangka waktu 2 tenor. The loan facility is unsecured.
tahun. Fasilitas ini tidak dijamin dengan agunan
khusus.
Selama tahun 2024, MPI melakukan penarikan atas During 2024, MPI has withdrawn BWS facility
fasilitas BWS sebesar AS$3.250.000. US$3,250,000.
Pada tanggal 13 Januari 2025, MPI melakukan On January 13, 2025, MPI has fully repaid
pelunasan sebesar AS$3.250.000 dari BWS. US$3,250,000 from BWS.
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Musyarakah Musyarakah Facility
Pada tanggal 25 September 2020, MPI On September 25, 2020, MPI signed credit facility
menandatangani perjanjian fasilitas kredit dengan agreement with PT Bank BNI Syariah (“BNI
PT Bank BNI Syariah (“BNI Syariah”) dengan total Syariah”) with a total facility of Rp400,000,000,000.
fasilitas sebesar Rp400.000.000.000. Fasilitas ini The loan facility is unsecured.
tidak dijamin dengan agunan khusus.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment
pembayaran cicilan terjadwal sebesar Rp155,500,000,000 to BSI.
Rp155.500.000.000 kepada BSI.
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Musyarakah dan Kafalah bil Ujrah Musyarakah and Kafalah bil Ujrah Facility
Pada tanggal 28 Mei 2021, MPI menandatangani On May 28, 2021, MPI signed Akad Musyarakah
Akad Musyarakah sebesar AS$30.000.000 dan US$30,000,000 and Kafalah bil Ujrah
Kafalah bil Ujrah sebesar AS$10.000.000 dengan US$10,000,000 with BSI, with 3 years tenor. On
BSI, dengan jangka waktu 3 tahun. Pada tanggal May 31, 2021, MPI utilized the facility
31 Mei 2021, MPI melakukan penarikan atas US$13,000,000. The loan facility is unsecured.
fasilitas tersebut sebesar AS$13.000.000. Fasilitas
ini tidak dijamin dengan agunan khusus.
Pada tanggal 7 Februari 2024, MPI melakukan On February 7, 2024, MPI has made voluntary
pelunasan dipercepat sebesar AS$7.200.000 BSI. repayment US$7,200,000 to BSI.
104
Page 254
2025 Management Business Company Corporate Sustainability
252 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued)
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Musyarakah Musyarakah Facility
Pada tanggal 27 April 2022, MPI menandatangani On April 27, 2022, MPI has entered into a Line
perjanjian Line Facility Pembiayaan Musyarakah Facility Musyarakah Credit Facility with BSI
dengan BSI sebesar Rp750.000.000.000 dengan Rp750,000,000,000 with 4 years tenor from the
jangka waktu 4 tahun dari tanggal signing date. On May 17, 2022, MPI has withdrawn
penandatanganan. Pada tanggal 17 Mei 2022, MPI Rp750,000,000,000.
melakukan penarikan atas fasilitas ini sebesar
Rp750.000.000.000.
Pada tanggal 15 Agustus 2022, BSI melakukan On August 15, 2022, BSI transferred a loan of
pengalihan pinjaman senilai Rp336.875.000.000 Rp336,875,000,000 to PT Sarana Multi
kepada PT Sarana Multi Infrastruktur (Persero) Infrastruktur (Persero) (“SMI”) and the loan become
(“SMI”) dan pinjaman tersebut menjadi pinjaman syndicated loan.
sindikasi.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment
pembayaran cicilan terjadwal dan percepatan and early full repayment to BSI amounting to
pelunasan pembayaran atas hutang BSI sebesar Rp295,000,000,000.
Rp295.000.000.000.
PT Bank Negara Indonesia (Persero) Tbk - PT Bank Negara Indonesia (Persero) Tbk - Term
Fasilitas Term Loan Loan Facility
Pada tanggal 28 Juni 2021, MPI menandatangani On June 28, 2021, MPI signed Term Loan Credit
Perjanjian Fasilitas Term Loan sebesar Facility agreement Rp399,000,000,000 with PT
Rp399.000.000.000 dengan PT Bank Negara Bank Negara Indonesia (Persero) Tbk. (“BNI”). This
Indonesia (Persero) Tbk. (“BNI”). Fasilitas ini tidak facility is unsecured.
dijamin dengan agunan khusus.
Pada 29 Maret 2022, MPI mengajukan On March 29, 2022, MPI proposed an extension of
perpanjangan availability period atas fasilitas Term the availability period for the Term Loan facility at
Loan di BNI. Pada 19 April 2022, BNI memberikan BNI. On April 19, 2022, BNI gave approval for the
persetujuan atas permohonan tersebut. Pada 22 application. On April 22, 2022, MPI has withdrawn
April 2022, MPI melakukan penarikan fasilitas the facility Rp200,000,000,000.
tersebut sebesar Rp200.000.000.000.
Pada tanggal 4 Maret 2024, MPI melakukan On March 4, 2024, MPI has made voluntary
pelunasan dipercepat sebesar Rp399.000.000.000 repayment Rp399,000,000,000 to BNI.
kepada BNI.
PT Bank Tabungan Negara (Persero) Tbk – PT Bank Tabungan Negara (Persero) Tbk –
Fasilitas Corporate Line Corporate Line Facility
Pada tanggal 22 November 2022, MPI telah On November 22, 2022, MPI has signed Corporate
menandatangani perjanjian Corporate Line Facility Line Facility agreement with PT Bank Tabungan
dengan PT Bank Tabungan Negara (Persero) Tbk Negara (Persero) Tbk (“BTN”) which consist of
(“BTN”) yang terdiri dari Non-Cash Loan sebesar Non-Cash Loan Rp350,000,000,000 with one year
Rp350.000.000.000 dengan jangka waktu satu tenor since signing date and Cash Loan
tahun sejak tanggal penandatanganan dan Cash Rp150,000,000,000 with 5 year tenor since signing
Loan sebesar Rp150.000.000.000 dengan jangka date.
waktu 5 tahun sejak tanggal penandatanganan.
Pada tanggal 8 Februari 2023, MPI melakukan On February 8, 2023, MPI has withdrawn it's facility
penarikan pinjaman dari BTN sebesar Rp150,000,000,000 from BTN.
Rp150.000.000.000.
Pada tanggal 21 Desember 2023, MPI On December 21, 2023, MPI signed additional
menandatangani tambahan fasilitas Non-Cash Non-Cash Loan facility Rp500,000,000,000 and
Loan menjadi Rp500.000.000.000 dan maturity date extention to November 22, 2025.
perpanjangan jangka waktu fasilitas hingga 22
November 2025.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment
pembayaran cicilan terjadwal sebesar Rp6,000,000,000 to BTN.
Rp6.000.000.000 kepada BTN.
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled installment
pembayaran cicilan terjadwal sebesar Rp18,000,000,000 to BTN.
Rp18.000.000.000 kepada BTN.
105
Page 255
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 253
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued)
PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk
Pada tanggal 27 Maret 2025, MPI telah On March 27, 2025, MPI has signed Term Loan
menandatangani perjanjian Fasilitas Term Loan Facility agreement with BMRI Rp1,000,000,000,000
dengan BMRI sebesar Rp1.000.000.000.000 with 48 months tenor since signing date or until
dengan jangka waktu 48 bulan dari tanggal March 31, 2029, whichever occurs earlier.
penandatanganan fasilitas atau tanggal 31 Maret
2029, mana yang lebih dahulu terjadi.
PT Bank Maybank Indonesia Tbk PT Bank Maybank Indonesia Tbk
Pada tanggal 16 Mei 2024, MPI melakukan On May 16, 2024, MPI signed a credit facility
penandatanganan perjanjian kredit dengan PT agreement with PT Bank Maybank Indonesia Tbk
Bank Maybank Indonesia Tbk ("Maybank") sebesar ("Maybank") Rp780,000,000,000 with details:
Rp780.000.000.000 dengan rincian:
– Tranche A dan B dengan total plafon – Tranche A and B with total maximum
maksimal Rp700.000.000.000 dengan credit Rp700,000,000,000 with 60 months
jangka waktu 60 bulan sejak tanggal tenor since signing date.
penandatanganan.
– Pinjaman Promes Berulang sampai – Revolving Promissory Loan with maximum
maksimal Rp80.000.000.000 dengan credit Rp80,000,000,000 with tenor until
jangka waktu sampai 13 Mei 2025. May 13, 2025.
Fasilitas ini tidak dijamin dengan agunan khusus. This facility is unsecured loan.
Pada 21 Mei dan 24 Juni 2024, MPI melakukan On May 21 and June 24, 2024, MPI has withdrawn
penarikan pinjaman masing-masing sebesar Rp167,769,000,000 and Rp80,000,000,000,
Rp167.769.000.000 dan Rp80.000.000.000 dari respectively, from Maybank.
Maybank.
Pada tanggal 24 Juli 2024, MPI melakukan On July 24, 2024, MPI has settled revolving loan
pelunasan pinjaman promes berulang sebesar Rp80,000,000,000 to Maybank.
Rp80.000.000.000 dari Maybank.
Pada tanggal 18 dan 24 September 2024, PT On September 18 and 24, 2024, PT Medco Power
Medco Power Indonesia melakukan penarikan Indonesia has withdrawn revolving promissory loan
pinjaman promes berulang dengan total Rp80,000,000,000 to Maybank.
Rp80.000.000.000 dari Maybank.
Pada tanggal 1 dan 11 Oktober 2024, MPI On October 1 and 11, 2024, MPI has withdrawn
melakukan penarikan pinjaman sebesar Rp496,875,000,000 and Rp35,356,000,000 from
Rp496.875.000.000 dan Rp35.356.000.000 dari Maybank.
Maybank.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment
pembayaran cicilan terjadwal sebesar Rp4,194,225,000 to Maybank.
Rp4.194.225.000 kepada Maybank.
Selama tahun 2025, MPI telah melakukan cicilan During 2025, MPI has paid scheduled installment
terjadwal dan pembayaran promes berulang and revolving promissory loan Rp57,500,000,000 to
sebesar Rp57.500.000.000 kepada Maybank. Maybank.
PT Bank KEB Hana Indonesia ("Bank Hana") PT Bank KEB Hana Indonesia ("Bank Hana")
Pada 19 Juni 2024, MPI melakukan penandatangan On June 19, 2024, MPI signed a credit facility
perjanjian kredit dengan PT Bank KEB Hana agreement with PT Bank KEB Hana Indonesia
Indonesia sebesar Rp150.000.000.000. Fasilitas ini Rp150,000,000,000. This facility is unsecured.
tidak dijamin dengan agunan khusus.
Pada 26 Juni 2024, MPI melakukan penarikan On June 26, 2024, MPI has withdrawn
pinjaman sebesar Rp150.000.000.000 dari Bank Rp150,000,000,000 from Bank Hana.
Hana.
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled installment
pembayaran cicilan terjadwal sebesar Rp16,500,000,000 to Bank Hana.
Rp16.500.000.000 kepada Bank Hana.
106
Page 256
2025 Management Business Company Corporate Sustainability
254 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued)
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Pembiayaan Berdasarkan Prinsip Syariah Facility
Syariah
Pada 18 Desember 2024, MPI melakukan On December 18, 2024, MPI signed syariah facility
penandatangan perjanjian berdasarkan prinsip agreement with PT Bank Syariah Indonesia Tbk
syariah dengan PT Bank Syariah Indonesia (Persero) ("BSI") Rp750,000,000,000. This facility
(Persero) Tbk ("BSI") sebesar Rp750.000.000.000. is unsecured.
Fasilitas ini tidak dijamin dengan agunan khusus.
Pada 23 Desember 2024, MPI melakukan On December 23, 2024, MPI has withdrawn
penarikan pinjaman sebesar Rp180.081.000.000 Rp180,081,000,000 from BSI.
dari BSI.
Pada 7 Januari 2025, MPI melakukan penarikan On Janury 7, 2025, MPI has withdrawn
pinjaman sebesar Rp86.000.000.000 dari BSI. Rp86,000,000,000 from BSI.
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled installment
pembayaran cicilan terjadwal sebesar Rp13,304,050,000 to BSI.
Rp13.304.050.000 kepada BSI.
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
Pada tanggal 20 Maret 2019, PT Medco Ratch On March 20, 2019, PT Medco Ratch Power Riau
Power Riau (“MRPR”) menandatangani perjanjian (“MRPR”) entered into a financing agreement with a
pendanaan dengan konsorsium pemberi pinjaman consortium of lenders to provide funding in an
untuk menyediakan pendanaan dengan jumlah aggregate amount of approximately US$222 million
agregat sekitar AS$222 juta terkait dengan related to the development of a 275-megawatt
pengembangan fasilitas pembangkit listrik tenaga (MW) gas-fired power plant facility with a maturity
gas 275-megawatt (MW) dengan waktu jatuh tempo date of due in March 2039. The consortium of
pada Maret 2039. Konsorsium pemberi pinjaman lenders consists of Asian Development Bank
terdiri dari Asian Development Bank (“ADB”), (“ADB”), International Finance Corporation (“IFC”),
International Finance Corporation (“IFC”), MUFG MUFG Bank Ltd (“MUFG”) and Sumitomo Mitsui
Bank Ltd (“MUFG”) dan Sumitomo Mitsui Banking Banking Corporation (“SMBC”). This facility is
Corporation (“SMBC”). Fasilitas ini dijamin dengan secured by fixed assets used in the concession
aset tetap yang digunakan dalam aset proyek jasa service project assets, rights to receivables from
konsesi, hak atas piutang atas proyek dan gadai the project and pledge of shares in the project.
saham dalam proyek.
Pada tanggal 28 Juni 2023, MRPR On June 28, 2023, MRPR signed an Amendment
menandatangani perjanjian Amendemen dan and Restatement agreement to the Senior Secured
Pernyataan Kembali atas Perjanjian Senior Debt Agreement with the Consortium of lenders
Secured Debt dengan Konsorsium pemberi related to the change of the Reference Interest
pinjaman terkait pergantian Suku Bunga Acuan Rate to Daily Non-Cumulative Compounded SOFR.
menjadi Daily Non-Cumulative Compounded
SOFR.
Selama tahun 2024, MRPR melakukan During 2024, MRPR has paid scheduled installment
pembayaran cicilan terjadwal ke konsorsium to the consortium of lenders US$9,596,579.
pemberi pinjaman Riau sebesar AS$9.596.579.
Selama tahun 2025 dan 2024, MRPR melakukan During 2025 and 2024, MRPR made scheduled
pembayaran cicilan terjadwal ke Konsorsium installments to the Riau Lenders Consortium
Pemberi Pinjaman Riau, masing-masing sebesar amounting US$10,236,350 and US$9,596,579,
AS$10.236.350 dan AS$9.596.579. respectively.
107
Page 257
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 255
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
PT Energi Listrik Batam (“ELB”) PT Energi Listrik Batam (“ELB”)
Pada tanggal 16 Oktober 2023, ELB telah On October 16, 2023, ELB signed project financing
menandatangani Perjanjian Pembiayaan Proyek agreement with PT Bank Syariah Indonesia Tbk
dengan PT Bank Syariah Indonesia Tbk dengan US$86,900,000. This financing aims to refinance
fasilitas pinjaman tunai sebesar AS$86.900.000. Simple Cycle Gas Power Plant 2x35 MW and to
Pembiayaan ini bertujuan untuk refinancing finance Combine Cycle Gas Power Plant 39 MW
pembangkit listrik berupa PLTG Simple Cycle located in Tanjung Uncang, Batam.
Power Plant 2x25 MW dan Combine Cycle Power
Plant 39 MW berlokasi di Tanjung Uncang, Batam.
Pada tanggal 17 Oktober 2023, ELB melakukan On October 17, 2023, ELB made a withdrawal
penarikan sebesar AS$18.194.796 dan pada US$18,194,796 from PT Bank Syariah Indonesia
tanggal 19 Oktober 2023 ELB melakukan Tbk and on October 19, 2023 ELB has settled the
pelunasan atas seluruh pokok fasilitas pembiayaan Musyarakah Mustanaqisah financing
Musyarakah Mustanaqisah dari PT Bank Syariah US$18,194,796.
Indonesia Tbk sebesar AS$18.194.796.
Pada 12 Desember 2023, ELB melakukan On December 12, 2023, ELB has withdrawn
penarikan pinjaman sebesar AS$2.000.000 dari PT US$2,000,000 from PT Bank Syariah Indonesia
Bank Syariah Indonesia Tbk. Tbk.
Selama tahun 2024, ELB melakukan penarikan During 2024, ELB has withdrawn US$4,000,000
pinjaman sebesar AS$4.000.000 dari BSI. from BSI.
Selama tahun 2024, ELB melakukan pembayaran During 2024, ELB has paid scheduled and
cicilan terjadwal dan tidak terjadwal sebesar unscheduled installment US$5,670,593 to BSI.
AS$5.670.593 kepada BSI.
Selama tahun 2025, ELB melakukan pembayaran During 2025, ELB has paid scheduled and
cicilan terjadwal dan tidak terjadwal sebesar unscheduled installment US$5,989,011 to BSI.
AS$5.989.011 kepada BSI.
Selama tahun 2025, ELB melakukan penarikan During 2025, ELB has withdrawn US$55,917,785
pinjaman sebesar AS$55.917.785 dari BSI. from BSI.
PT Medco Cahaya Geothermal ("MCG") PT Medco Cahaya Geothermal ("MCG")
Sepanjang tahun 2024, MCG melakukan During 2024, MCG issued SKBDN UPAS and LC
penerbitan SKBDN UPAS dan LC UPAS kepada UPAS to various vendors Rp470,076,245,801 and
berbagai macam vendor sejumlah US$10,702,340 for Ijen Geothermal project. This
Rp470.076.245.801 dan AS$10.702.340 untuk issuance utilized MPI's WCC facility from BNI,
keperluan proyek PLTP Ijen. Penerbitan ini MPI's Non-Cash Loan Facility from BMRI, and
menggunakan fasilitas KMK MPI di BNI, Kredit MPI's Non-Cash Loan Facility from BTN.
Non-Tunai MPI dari BMRI, dan Kredit Non-Tunai
Perusahaan dari BTN.
Selama tahun 2025, MCG melakukan penerbitan During 2025, MCG issued SKBDN UPAS and LC
SKBDN UPAS dan LC UPAS kepada berbagai UPAS to various vendors Rp3,325,613,246 for Ijen
macam vendor sejumlah Rp3.325.613.246 untuk Geothermal project. This issuance utilized MPI's
keperluan proyek PLTP Ijen. Penerbitan ini WCC facility from BNI, MPI's Non-Cash Loan
menggunakan fasilitas KMK MPI di BNI, Kredit Facility from BMRI, and MPI's Non-Cash Loan
Non-Tunai MPI dari BMRI, dan Kredit Non-Tunai Facility from BTN.
Perusahaan dari BTN.
PT Medcosolar Bali Timur ("MSBT") PT Medcosolar Bali Timur ("MSBT")
Pada 20 Maret 2024, PT Medcosolar Bali Timur On March 20, 2024, PT Medcosolar Bali Timur
menandatangani Perjanjian Pembiayaan Proyek signed a Project Financing Agreement
sebesar AS$13.263.000 dan Rp50.218.000.000 US$13,263,000 and Rp50,218,000,000 with BNI
dengan BNI dengan jangka waktu 15 tahun. with a term of 15 years. This financing aims to build
Pembiayaan ini bertujuan untuk pembangunan the East Bali PLTS with a capacity of 25 MWp in
PLTS Bali Timur kapasitas 25 MWp di Kabupaten Karangasem Regency, Bali. This facility is
Karangasem, Bali. Fasilitas ini dijamin dengan aset guaranteed by project assets, rights to receivables,
proyek, hak atas piutang, dan gadai saham dalam and a pledge of shares in the project.
proyek.
Selama tahun 2024, MSBT melakukan penarikan During 2024, MSBT has withdrawn US$3,922,168
pinjaman sebesar AS$3.922.168 dan and Rp10,886,914,801 from BNI.
Rp10.886.914.801 dari BNI.
Selama tahun 2025, MSBT melakukan penarikan During 2025, MSBT has withdrawn US$5,090,144
pinjaman sebesar AS$5.090.144 dan and Rp23,019,016,625 from BNI.
Rp23.019.016.625 dari BNI.
108
Page 258
2025 Management Business Company Corporate Sustainability
256 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pada tanggal 31 Desember 2025, Grup memiliki As of December 31, 2025, the Group has the
Fasilitas Kredit Bank dan Fasilitas Umum Bank following Unused Credit Bank Facility and General
yang belum digunakan sebagai berikut: Bank Facility:
Fasilitas yang Tidak
Digunakan pada
Total Fasilitas Tanggal Pada Akhir
Tanggal 31
Entitas/Entity Kreditur/Lenders Fasilitas/ Facility Maksimum/Maximum
Desember 2025/
Facility Amount Unused Portion of
the Facility as of
December 31, 2025
MPI PT Bank Negara Fasilitas Non-Cash AS$85.250.000/ AS$80.523.845/
Indonesia (Persero) Loan/ US$85,250,000 US$80,523,845
Tbk Non-Cash Loan Facility
MPI PT Bank Mandiri Fasilitas Perbankan/ Rp1.650.000.000.000 Rp701.178.564.452
(Persero) Tbk Banking Facility
MPI PT Bank Tabungan Fasilitas Non-Cash Rp850.000.000.000 Rp727.755.243.772
Negara (Persero) Tbk Loan/
Non-Cash Loan Facility
MPI PT Bank Maybank Fasilitas Perbankan/ Rp200.000.000.000 Rp150.000.000.000
Indonesia Tbk Banking Facility
MPI PT Bank Woori Fasilitas Perbankan/ AS$8.000.000/ AS$8.000.000/
Saudara Indonesia Banking Facility US$8,000,000 US$8,000,000
1906 Tbk
MCG PT Sarana Multi Fasilitas Perbankan/ AS$144.900.000/ AS$39.909.820/
Infrastruktur Banking Facility US$144,900,000 US$39,909,820
(Persero)
ELB PT Bank Syariah Fasilitas Non-Cash AS$10.000.000/ AS$1.682.128/
Indonesia (Persero) Loan/ US$10,000,000 US$1,682,128
Tbk Non-Cash Loan Facility
MSBT PT Bank Negara Fasilitas Perbankan/ AS$13.263.000/ AS$4.250.688/
Indonesia (Persero) Banking Facility US$13,263,000 US$4,250,688
Tbk
MSBT PT Bank Negara Fasilitas Perbankan/ Rp50.218.000.000 Rp16.312.068.574
Indonesia (Persero) Banking Facility
Tbk
109
Page 259
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 257
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT
Instrumen pembiayaan yang diterbitkan Grup terdiri The financing instrument issued by the Group
dari: consists of the following:
2025 2024
Obligasi Bonds
Jatuh tempo pada tahun 2025 - 258.000.000.000 Due in 2025
Jatuh tempo pada tahun 2030 300.000.000.000 - Due in 2030
Jatuh tempo pada tahun 2032 200.000.000.000 - Due in 2032
Sukuk Wakalah Sukuk Wakalah
Jatuh tempo pada tahun 2025 - 792.690.000.000 Due in 2025
Jatuh tempo pada tahun 2026 10.300.000.000 10.300.000.000 Due in 2026
Jatuh tempo pada tahun 2027 526.305.000.000 526.305.000.000 Due in 2027
Jatuh tempo pada tahun 2028 125.035.000.000 - Due in 2028
Jatuh tempo pada tahun 2029 494.490.000.000 494.490.000.000 Due in 2029
Jatuh tempo pada tahun 2030 816.955.000.000 - Due in 2030
Jatuh tempo pada tahun 2031 79.515.000.000 79.515.000.000 Due in 2031
Jatuh tempo pada tahun 2032 208.010.000.000 - Due in 2032
Biaya penerbitan obligasi dan
sukuk wakalah yang belum Unamortized issuance costs of
diamortisasi (18.334.895.378) (9.717.598.365) bonds and sukuk wakalah
Total 2.742.275.104.622 2.151.582.401.635 Total
Dikurangi porsi jangka panjang 2.731.975.104.622 1.100.892.401.635 Less long-term portion
Porsi jangka pendek 10.300.000.000 1.050.690.000.000 Current portion
Informasi lain mengenai utang jangka panjang Further information relating to other long-term debts
lainnya adalah sebagai berikut: are as follows:
Utang jangka Kupon per
panjang/ Long- Peringkat/ Jatuh tempo/ tahun/ Coupon Jaminan/
term debt Pokok/ Principal Rating Terdaftar/ Listed Maturity p.a Security
Obligasi Rupiah Seri B PT Pemeringkat Bursa Efek Dibayar 10,25% Obligasi ini tidak
I/ Rupiah Bonds I Rp63.000.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan
Tranche B (PEFINDO): A Indonesia Stock bulan Juli 2023/ kuartal/ 10.25% agunan khusus/
Rp63,000,000,000 (2023) Exchange Fully paid in July Payable quarterly These bonds are
2023 unsecured.
Seri C Dibayar 10,75%
Rp258.000.000.000/ seluruhnya pada Terutang setiap
Tranche C bulan Juli 2025/ kuartal/ 10.75%
Rp258,000,000,000 Fully paid in July Payable quarterly
2025
Sukuk Wakalah Seri B PT Pemeringkat Bursa Efek Dibayar 10,25% Obligasi ini tidak
Rupiah I/ Rupiah Rp404.000.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan
Sukuk Wakalah I Tranche B (PEFINDO): A Indonesia Stock bulan Juli 2023/ kuartal/ 10.25% agunan khusus/
Rp404,000,000,000 (Sy) (2023) Exchange Fully paid in July Payable quarterly These bonds are
2023 unsecured.
Seri C Dibayar 10,75%
Rp43.000.000.000/ seluruhnya pada Terutang setiap
Tranche C bulan Juli 2025/ kuartal/ 10.75%
Rp43,000,000,000 Fully paid in July Payable quarterly
2025
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Dibayar 10,00% Obligasi ini tidak
Rupiah II/ Rupiah Rp832.700.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan
Sukuk Wakalah II Tranche A (PEFINDO): A Indonesia Stock bulan Mei 2022/ kuartal/ 10.00% agunan khusus/
Rp832,700,000,000 (Sy) (2023) Exchange Fully paid in May Payable quarterly These bonds are
2022 unsecured.
Seri B Dibayar 10,55%
Rp7.000.000.000/ seluruhnya pada Terutang setiap
Tranche B bulan Mei 2024/ kuartal/ 10.55%
Rp7,000,000,000 Fully paid in May Payable quarterly
2024
Seri C Mei 2026/ May 11,10%
Rp10.300.000.000/ 2026 Terutang setiap
Tranche C kuartal/ 11.10%
Rp10,300,000,000 Payable quarterly
110
Page 260
2025 Management Business Company Corporate Sustainability
258 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT (continued)
(lanjutan)
Informasi lain mengenai utang jangka panjang Further information relating to other long-term debts
lainnya adalah sebagai berikut: (lanjutan) are as follows: (continued)
Utang jangka Kupon per
panjang/ Long- Peringkat/ Jatuh tempo/ tahun/ Coupon Jaminan/
term debt Pokok/ Principal Rating Terdaftar/ Listed Maturity p.a Security
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Dibayar 8,00% Obligasi ini tidak
Berkelanjutan Rp280.000.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan
Rupiah I Tahap I/ Tranche A (PEFINDO): A Indonesia Stock bulan Agustus kuartal/ 8.00% agunan khusus/
Rupiah Shelf Rp280,000,000,000 (Sy) (2023) Exchange 2025/ Fully paid Payable quarterly These bonds are
Registered Sukuk in August 2025 unsecured.
Wakalah I Phase I Seri B Agustus 2027/ 9,25%
Rp220.000.000.000/ August 2027 Terutang setiap
Tranche B kuartal/ 9.25%
Rp220,000,000,000 Payable quarterly
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Dibayar 9,00% Obligasi ini tidak
Berkelanjutan Rp469.690.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan
Rupiah I Tahap II/ Tranche A (PEFINDO): A Indonesia Stock bulan Desember kuartal/ 9.00% agunan khusus/
Rupiah Shelf Rp469,690,000,000 (Sy) (2023) Exchange 2025/ Fully paid Payable quarterly These bonds are
Registered Sukuk in December unsecured.
Wakalah I Phase 2025
II
Seri B Desember 2027/ 9,50%
Rp130.310.000.000/ December 2027 Terutang setiap
Tranche B kuartal/ 9.50%
Rp130,310,000,000 Payable quarterly
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Januari 2027/ 8,55% Obligasi ini tidak
Berkelanjutan Rp175.995.000.000/ Efek Indonesia Indonesia/ January 2027 Terutang setiap dijamin dengan
Rupiah I Tahap III/ Tranche A (PEFINDO): A Indonesia Stock kuartal/8.55% agunan khusus/
Rupiah Shelf Rp175,995,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are
Registered Sukuk unsecured.
Wakalah I Phase Seri B Januari 2029/ 9,50%
III Rp494.490.000.000/ January 2029 Terutang setiap
Tranche B kuartal/9.50%
Rp494,490,000,000 Payable quarterly
Seri C Januari 2031/ 10,00%
Rp79.515.000.000/ January 2031 Terutang setiap
Tranche C kuartal/10.00%
Rp79,515,000,000 Payable quarterly
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Februari 2028/ 8,00% Obligasi ini tidak
Berkelanjutan Rp125.035.000.000/ Efek Indonesia Indonesia/ February 2028 Terutang setiap dijamin dengan
Rupiah I Tahap Tranche A (PEFINDO): A Indonesia Stock kuartal/8.00% agunan khusus/
IV/Rupiah Shelf Rp125,035,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are
Registered Sukuk unsecured.
Wakalah I Phase Seri B Februari 2030/ 9,00%
IV Rp816.955.000.000/ February 2030 Terutang setiap
Tranche B kuartal/9.00%
Rp816,955,000,000 Payable quarterly
Seri C Februari 2032/ 10,00%
Rp208.010.000.000/ February 2032 Terutang setiap
Tranche C kuartal/10.00%
Rp208,010,000,000 Payable quarterly
Penawaran Seri A PT Pemeringkat Bursa Efek Juli 2030/July 9,00% Obligasi ini tidak
Umum Rp300.000.000.000/ Efek Indonesia Indonesia/ 2030 Terutang setiap dijamin dengan
Berkelanjutan I Tranche A (PEFINDO): A Indonesia Stock kuartal/9.00% agunan khusus/
Tahap I Tahun Rp300,000,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are
2025/Rupiah unsecured.
Shelf Registered Seri B Juli 2032/July 9,00%
Rupiah Bond I Rp200.000.000.000/ 2032 Terutang setiap
Phase I of 2025 Tranche B kuartal/9.00%
Rp200,000,000,000 Payable quarterly
111
Page 261
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 259
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT (continued)
(lanjutan)
a. Pembatasan-pembatasan atas penerbitan a. Covenants related to issuance of Bond and
Obligasi dan Sukuk Wakalah Sukuk Wakalah
Berdasarkan syarat-syarat dan kondisi-kondisi Under the terms and conditions of the
dari perjanjian sehubungan dengan penerbitan agreements related to the issuance of Bond
Obligasi dan Sukuk Wakalah, Perusahaan and Sukuk Wakalah, the Company is subject
harus mematuhi pembatasan tertentu, antara to various covenants, among others, obtaining
lain memperoleh persetujuan tertulis dari Wali approval from Trustee prior to undertaking
Amanat sebelum melakukan transaksi- certain actions such as: mergers or
transaksi tertentu seperti ketika melakukan acquisitions, reducing the authorized, issued
penggabungan atau peleburan dengan and fully paid capital, pledging and transferring
perusahaan lain, mengurangi modal dasar, the Company’s assets, restrictions on granting
modal ditempatkan dan disetor penuh, loans to third parties, changing the main
menjaminkan dan mengalihkan aset business activities of the Company, issuing
Perusahaan, memberikan pinjaman atau senior debt, filing for bankruptcy or delaying
jaminan kepada pihak ketiga, mengubah loan payments, declaring and paying
bisnis utama Perusahaan, menerbitkan dividends in excess of 50% payout ratio or
obligasi senior, mengajukan permintaan pailit negative impact to the ability of the Company
atau penundaan pembayaran pinjaman, for making payment of coupon and/or return
mengumumkan dan membayar dividen and principal of Bond and Sukuk Wakalah and
melebihi 50% payout ratio atau yang berakibat
requirement to comply with certain financial
negatif pada kemampuan Perusahaan dalam
ratios.
melakukan pembayaran kupon dan/atau imbal
hasil serta pokok obligasi dan sukuk wakalah,
dan harus mematuhi rasio-rasio keuangan
tertentu.
Manajemen menyatakan bahwa selama tahun Management represented that during the
pelaporan dan pada tanggal penyelesaian reporting periods and as of the completion
laporan keuangan konsolidasian, Grup tidak date of the consolidated financial statements,
pernah mengalami kondisi gagal bayar atas the Group has never defaulted on paying its
obligasi yang telah jatuh tempo. maturing bonds.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024,
manajemen berpendapat bahwa Grup telah management is in opinion that the Group has
mematuhi pembatasan tersebut dan semua complied with all covenants and meet the
rasio keuangan yang dipersyaratkan dalam financial ratios required to be maintained
penerbitan Obligasi dan Sukuk Wakalah. under the agreements related to the issuance
of Bond and Sukuk Wakalah.
b. Wali Amanat b. Trustee
Grup telah menunjuk PT Bank Mega, Tbk The Group engaged PT Bank Mega, Tbk. as
sebagai Wali Amanat yang berperan sebagai Trustees to act as the intermediaries between
perantara antara Grup dengan Pemegang the Group and the holders of Bond and Sukuk
Obligasi dan Sukuk Wakalah yang diterbitkan Wakalah issued by the Group.
Grup.
c. Lain-lain c. Others
Perusahaan menggunakan hasil dari The Company utilized the proceeds from
penerbitan Obligasi dan Sukuk Wakalah ini Bonds and Sukuk Wakalah to refinance
untuk melakukan pembiayaan kembali atas certain loan obtained by the subsidiaries and
pinjaman yang dimiliki beberapa entitas anak finance the capital expenditures of certain
dan pembiayaan pada beberapa proyek yang projects developed by the subsidiaries.
dikembangkan entitas anak.
112
Page 262
2025 Management Business Company Corporate Sustainability
260 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
27. DERIVATIF 27. DERIVATIVE
Grup melakukan transaksi perjanjian pertukaran The Group entered into interest rate swaps hedging
tingkat suku bunga sebagai instrumen lindung nilai instruments to manage its interest rate. All
untuk mengelola risiko atas tingkat bunga. Seluruh contracts entered into by the Group have
kontrak yang dilakukan Grup mempunyai kewajiban underlying obligations.
yang mendasari.
2025 2024
Liabilitas
Aset Derivatif/ Derivatif/ Keuntungan
Liabilitas Derivative Derivative (Kerugian)/
Derivatif/ Keuntungan Assets Liabilities Gain/
Pihak ketiga/ Third Aset Derivatif/ Derivative (Kerugian)/ Derivative Derivative (Loss)Gain/
parties Jenis/ Type Derivative Assets Liabilities Gain/ (Loss) Assets Liabilities (Loss)
PT Medco Ratch Power
Riau (MRPR)
MUFG Bank Ltd Perjanjian swap
atas tingkat suku
bunga/ Interest
rate swap 120.304.209.956 - (30.452.715.082) 150.756.925.038 - 21.559.398.968
International Finance Perjanjian swap
Corporation atas tingkat suku
bunga/ Interest
rate swap 72.620.780.486 - (17.911.947.393) 90.532.727.879 - 12.177.837.012
Sumitomo Mitsui Banking Perjanjian swap
Corporation atas tingkat suku
bunga/ Interest
rate swap 120.364.044.834 - (30.159.093.319) 150.523.138.153 - 21.462.405.957
Jumlah/Total 313.289.035.276 - (78.523.755.794) 391.812.791.070 - 55.199.641.937
Dikurangi yang jatuh
tempo dalam satu
tahun/
Less current portion 22.915.639.251 - 30.282.826.190 -
Bagian jangka panjang/
Long-term portion 290.373.396.025 - 361.529.964.880 -
Bagian efektif atas perubahan nilai wajar derivatif The effective portion of changes in the fair value of
yang ditunjuk dan memenuhi syarat sebagai derivatives that are designated and qualify as cash
lindung nilai arus kas diakui di penghasilan flow hedges is recognized in other comprehensive
komprehensif lain. Keuntungan dan kerugian yang income. Gains and losses recognized in the other
diakui dalam penghasilan komprehensif lain di comprehensive income in equity on interest rate
ekuitas atas perjanjian swap atas suku bunga akan swap agreements will be continuously released to
terus dilepaskan ke laba atau rugi sampai the profit or loss until repayment of the bank
pelunasan pinjaman bank. borrowings.
113
Page 263
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 261
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVE (continued)
. .
Informasi lebih lanjut mengenai derivatif yang Further information relating to the derivatives
dilakukan oleh MRPR adalah sebagai berikut: undertaken by MRPR are as follows:
Nilai Nominal/ Notional Amount Tanggal
Pertukaran
Dalam mata Tanggal
Pihak ketiga/ Jenis/ Akhir/ Syarat dan ketentuan/
Dalam Rp/ uang asing - Efektif/
Third Parties Type Effective date Final Terms and condition
In Rp AS$/ In foreign Exchange
currency - US$ Date
MUFG Bank, Perjanjian N/A 54.482.798 27 November 18 Maret 2039/ MRPR menerima suku
Ltd. swap atas 2019/ March 18, bunga mengambang
tingkat November 27, 2039 USD-SOFR 6 bulan
suku 2019 ditambah spread dan
bunga / membayar suku bunga
Interest tetap per tahun setiap
swap tanggal 23 Februari dan
23 Agustus/MRPR shall
receive a floating 6
months USD-SOFR
based interest rate plus
spread and pay a fixed
interest rate per annum on
every February 23 and
August 23.
Sumitomo Perjanjian N/A 54.482.798 27 November 18 Maret 2039/
Mitsui swap atas 2019/ March 18,
Banking tingkat November 27, 2039
Corporation suku 2019
bunga /
Interest
swap
International Perjanjian N/A 31.676.045 27 November 18 Maret 2039/
Finance swap atas 2019/ March 18,
Corporation tingkat November 27, 2039
suku 2019
bunga /
Interest
swap
28. LIABILITAS IMBALAN KERJA 28. ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS
a. Grup mengakui penyisihan imbalan kerja a. The Group recognizes provision for employee
karyawan untuk seluruh karyawan yang service entitlements for all of their qualified
memenuhi syarat sesuai dengan ketentuan employees in accordance with the provisions
dalam Undang-Undang Ketenagakerjaan No. set forth in Labor Law No. 13/2003 dated
13/2003 tanggal 25 Maret 2003 ("Undang- March 25, 2003 ("Law No. 13"), Collective
Undang No. 13"), Perjanjian Kerja Bersama Labor Agreement ("CLA") and Company
("PKB") dan Peraturan Perusahaan ("PP"). Regulations ("CR").
Pada tanggal 31 Desember 2025, liabilitas As of December 31, 2025, the employee
imbalan kerja ditetapkan berdasarkan benefits liabilities are determined based on the
perhitungan aktuaris independen Steven and calculation of independent actuaries, Steven
Mourits dan Yusi dan Rekan yang laporannya and Mourits and Yusi and Partner as set forth
tertanggal 2 Maret 2026. in their reports dated March 2, 2026.
Pada tanggal 31 Desember 2024, liabilitas As of December 31, 2024, the employee
imbalan kerja ditetapkan berdasarkan benefits liabilities are determined based on the
perhitungan aktuaris independen Steven and calculation of independent actuaries, Steven
Mourits dan Yusi dan Rekan yang laporannya and Mourits and Yusi and Partner as set forth
tertanggal 7 Maret 2025. in their reports dated March 7, 2025.
114
Page 264
2025 Management Business Company Corporate Sustainability
262 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
28. LIABILITAS IMBALAN KERJA (lanjutan) 28. ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS (continued)
Liabilitas pensiun imbalan pasti dihitung The defined benefit obligations were
dengan menggunakan metode projected unit calculated using the projected unit credit
credit, berdasarkan asumsi berikut: method, based on the following key
assumptions:
2025 2024
Tingkat diskonto 6,10% - 6,80% 6,88% - 7,01% Discount rate per annum
Tingkat kenaikan gaji 5,00% - 6,00% 5,00% - 6,00% Salary increment rate
Tingkat kematian Tabel Mortalitas Tabel Mortalitas Mortality rate
Indonesia tahun 2019/ Indonesia tahun 2019/
Indonesian Table of Indonesian Table of
Mortality 2019 Mortality 2019
Tingkat pengunduran diri 1% hingga usia 25 1% hingga usia 25 Resignation rate
menurun linear hingga menurun linear hingga
0,05% hingga usia 54/ 0,05% hingga usia 54/
1% up to age 25 1% up to age 25
decreasing linearly decreasing linearly
into 0.05% at age 54 into 0.05% at age 54
Proporsi pensiun dini 0% 0% Proportion of early retirement
Proporsi pensiun normal 100% 100% Proportion of normal retirement
Usia pensiun 56-58 56-58 Retirement age
b. Beban imbalan kerja untuk tahun yang b. The employee service entitlement costs for the
berakhir pada tanggal 31 Desember 2025 dan year then ended December 31, 2025 and
2024 adalah sebagai berikut: 2024 are as follows:
2025 2024
Imbalan kerja Imbalan kerja
lainnya/ lainnya/
UU 13/ 2003/ Other long- UU 13/ 2003/ Other long-
Law no.13 term benefits Total Law no.13 term benefits Total
Biaya jasa kini 19.310.219.411 828.668.000 20.138.887.411 18.828.914.000 391.997.000 19.220.911.000 Current service cost
Biaya jasa masa lalu (199.509.000) 3.253.147.000 3.053.638.000 804.283.000 930.459.000 1.734.742.000 Past service cost
Pendapatan bunga aset Interest income on plan
program (355.000.000) - (355.000.000) - - - assets
Biaya bunga 10.398.218.927 225.977.000 10.624.195.927 8.684.877.000 147.295.000 8.832.172.000 Interest cost
Employee service
Beban imbalan kerja 29.153.929.338 4.307.792.000 33.461.721.338 28.318.074.000 1.469.751.000 29.787.825.000 entitlement costs
c. Rincian liabilitas imbalan kerja pada tanggal 31 c. Details of the estimated liability for employee
Desember 2025 dan 2024 adalah sebagai service entitlements as of December 31, 2025
berikut: and 2024 are as follows:
2025 2024
Imbalan kerja Imbalan kerja
lainnya/ lainnya/
UU 13/ 2003/ Other long- UU 13/ 2003/ Other long-
Law no.13 term benefits Total Law no.13 term benefits Total
Nilai kini liabilitas imbalan
kerja 180.952.925.540 6.940.644.000 187.893.569.540 149.535.034.979 3.511.002.000 153.046.036.979 Present value of obligation
Nilai wajar aset program (10.323.470.000) - (10.323.470.000) - - - Fair value of plan assets
The estimated liability for
employee service
Liabilitas imbalan kerja 170.629.455.540 6.940.644.000 177.570.099.540 149.535.034.979 3.511.002.000 153.046.036.979 entitlements
115
Page 265
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 263
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
28. LIABILITAS IMBALAN KERJA (lanjutan) 28. ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS (continued)
d. Analisis mutasi liabilitas imbalan kerja untuk d. An analysis of the movements of the estimated
tahun yang berakhir pada tanggal 31 liability for employee service entitlements as of
Desember 2025 dan 2024 adalah sebagai and for the year then ended December 31,
berikut: 2025 and 2024 are as follows:
2025 2024
Imbalan kerja Imbalan kerja
lainnya/ lainnya/
UU 13/ 2003/ Other long- UU 13/ 2003/ Other long-
Law no.13 term benefits Total Law no.13 term benefits Total
Balance at beginning of
Saldo awal tahun 149.535.034.979 3.511.002.000 153.046.036.979 132.030.995.979 971.163.000 133.002.158.979 year
Employee service
Beban imbalan kerja 29.153.929.338 4.307.792.000 33.461.721.338 28.318.074.000 1.469.751.000 29.787.825.000 entitlement costs
Kerugian (keuntungan) Actuarial loss (gain)
aktuarial diakui recognized as other
sebagai penghasilan comprehensive
komprehensif atas: income from:
Changes in
Perubahan asumsi demographic
demografi - - - - - - assumption
Perubahan asumsi Changes in financial
finansial 9.834.404.223 - 9.834.404.223 (4.440.632.000) - (4.440.632.000) assumption
Perubahan historis (4.133.237.000) - (4.133.237.000) (70.675.000) 1.412.359.000 1.341.684.000 Experience adjustment
Imbal hasil atas aset
program (tidak
termasuk Return on plan assets
pendapatan (exclude interest
bunga) 31.530.000 - 31.530.000 - - - income)
Kontribusi pada aset
program (10.000.000.000) - (10.000.000.000) - - - Plan assets contribution
Pembayaran manfaat (3.792.206.000) (878.150.000) (4.670.356.000) (6.302.728.000) (342.271.000) (6.644.999.000) Benefit payments
Saldo akhir tahun 170.629.455.540 6.940.644.000 177.570.099.540 149.535.034.979 3.511.002.000 153.046.036.979 Balance at end of year
e. Analisis mutasi nilai kini liabilitas imbalan kerja e. An analysis of the movements of the present
untuk tahun yang berakhir pada tanggal 31 value of obligation for the years then ended
Desember 2025 dan 2024 adalah sebagai December 31, 2025 and 2024 are as follows:
berikut:
2025 2024
Imbalan kerja Imbalan kerja
UU 13/2003/ lainnya/ lainnya/
Law Other long- UU 13/ 2003/ Other long-
no.13/2003 term benefits Total Law no.13 term benefits Total
Nilai kini liabilitas Present value of
imbalan kerja awal obligation at
tahun 149.535.034.979 3.511.002.000 153.046.036.979 132.030.995.979 971.163.000 133.002.158.979 beginning of year
Biaya jasa kini 19.310.219.411 828.668.000 20.138.887.411 18.828.914.000 391.997.000 19.220.911.000 Current service cost
Biaya jasa masa lalu (199.509.000) 3.253.147.000 3.053.638.000 804.283.000 930.459.000 1.734.742.000 Past service cost
Biaya bunga 10.398.218.927 225.977.000 10.624.195.927 8.684.877.000 147.295.000 8.832.172.000 Interest cost
Pembayaran manfaat (3.792.206.000) (878.150.000) (4.670.356.000) (6.302.728.000) (342.271.000) (6.644.999.000) Benefits payments
Keuntungan aktuarial 5.701.167.223 - 5.701.167.223 (4.511.307.000) 1.412.359.000 (3.098.948.000) Actuarial gain
Balance at end of
Saldo akhir tahun 180.952.925.540 6.940.644.000 187.893.569.540 149.535.034.979 3.511.002.000 153.046.036.979 year
116
Page 266
2025 Management Business Company Corporate Sustainability
264 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
28. LIABILITAS IMBALAN KERJA (lanjutan) 28. ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS (continued)
f. Analisis mutasi aset program untuk tahun f. An analysis of the movements of the plan aset
yang berakhir pada tanggal 31 Desember for the year then ended December 31, 2025
2025 dan 2024 adalah sebagai berikut: and 2024 are as follows:
2025 2024
Imbalan kerja Imbalan kerja
UU 13/2003/ lainnya/ lainnya/
Law Other long- UU 13/ 2003/ Other long-
no.13/2003 term benefits Total Law no.13 term benefits Total
Kontribusi pada aset
program 10.000.000.000 - 10.000.000.000 - - - Plan assets contribution
Pendapatan bunga aset Interest income on plan
program 355.000.000 - 355.000.000 - - - assets
Imbal hasil atas aset
program (tidak Return on plan assets
termasuk (exclude interest
pendapatan bunga) (31.530.000) - (31.530.000) - - - income)
Balance at end of
Saldo akhir tahun 10.323.470.000 - 10.323.470.000 - - - year
Seluruh aset program ditempatkan sebagai All program assets are placed as cash and
kas dan setara kas yang dikelola oleh Dana cash equivalents managed by the Financial
Pensiun Lembaga Keuangan PT. AXA Mandiri Institution Pension Fund of PT. AXA Mandiri
Financial Services. Financial Services.
g. Pada tanggal 31 Desember 2025 dan 2024, g. As of December 31, 2025 and 2024, the
pembayaran imbalan kerja yang diharapkan expected benefit payments in future year are
pada tahun mendatang adalah sebagai as follows:
berikut:
2025 2024
Dalam 12 bulan mendatang 13.003.878.000 11.381.248.000 Within the next 12 months
Antara 1 sampai 2 tahun 33.483.829.000 18.460.465.000 Between 1 and 2 years
Antara 2 sampai 5 tahun 57.099.676.000 61.535.137.000 Between 2 and 5 years
Diatas 5 tahun 998.724.933.000 923.204.289.000 Beyond 5 years
Durasi rata-rata dari kewajiban imbalan kerja The average duration of the benefit obligation
pada tanggal 31 Desember 2025 dan 2024 as of December 31, 2025 and 2024 is 8.14 -
masing-masing sebesar 8,14 - 18,69 tahun 18.69 years and 7.34 - 17.91 years,
dan 7,34 - 17,91 tahun. respectively.
h. Pada tanggal 31 Desember 2025 dan 2024, h. A quantitative sensitivity analysis for significant
analisa sensitivitas atas asumsi-asumsi assumptions as of December 31, 2025 and
aktuarial adalah sebagai berikut: 2024 is shown below:
2025
Tingkat kenaikan gaji/ Salary
Tingkat diskonto/ Discount rate increment rate
Kenaikan 1%/ (Penurunan 1%)/ Kenaikan 1%/ (Penurunan 1%)/
Increase 1 % (Decrease 1%) Increase 1% (Decrease 1%)
Kenaikan Increase
(penurunan) (decrease) a
liabilitas imbalan defined benefit
kerja (2.278.885.317) 24.392.282.683 23.583.366.683 (1.774.792.317) obligation
2024
Tingkat kenaikan gaji/ Salary
Tingkat diskonto/ Discount rate increment rate
Kenaikan 1%/ (Penurunan 1%)/ Kenaikan 1%/ (Penurunan 1%)/
Increase 1 % (Decrease 1%) Increase 1% (Decrease 1%)
Kenaikan Increase
(penurunan) (decrease) a
liabilitas imbalan defined benefit
kerja (9.834.622.979) 12.600.845.021 12.241.998.021 (9.695.553.979) obligation
117
Page 267
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 265
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
29. UTANG SEWA 29. LEASE LIABILITIES
2025 2024
Saldo awal tahun 22.459.487.529 30.216.326.332 Balance at beginning of year
Ditambah: Addition:
Penambahan tahun berjalan 51.446.539.893 9.821.671.231 Addition in current year
Beban bunga 5.910.620.281 1.892.957.700 Interest expense
Dikurangi: Less:
Pembayaran liabilitas sewa (20.434.841.117) (20.000.129.878) Repayment of lease liabilities
Selisih kurs 96.109.748 528.662.144 Foreign exchange effect
Saldo akhir tahun 59.477.916.334 22.459.487.529 Balance at end of year
Dikurangi bagian yang jatuh tempo
dalam satu tahun (14.273.387.072) (5.994.120.857) Less current maturity
Bagian jangka panjang 45.204.529.262 16.465.366.672 Long-term portion
Grup menyewa beberapa aset termasuk tanah, The Group leases several assets including land,
bangunan, peralatan kantor dan kendaraan, yang building, office equipment and vehicles which
pada umumnya memiliki masa sewa antara 1 generally has lease term between 1 to 29 years
sampai 29 tahun dengan tingkat diskonto sebesar with discount rate 7.42% - 11.38%.
7,42% - 11,38%.
Grup tidak menghadapi risiko likuiditas signifikan The Group does not face a significant liquidity risk
sehubungan dengan utang sewa yang dimiliki. with regard to its lease liabilities.
30. KEPENTINGAN NON-PENGENDALI 30. NON-CONTROLLING INTEREST
a. Rincian kepentingan non-pengendali atas aset a. The details of the non-controlling interests in
(liabilitas) neto entitas anak adalah sebagai net assets (liabilities) of Subsidiaries are as
berikut: follows:
2025 2024
PT Medco Ratch Power Riau 1.126.034.005.249 1.082.841.364.730 PT Medco Ratch Power Riau
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 880.338.671.808 866.916.940.561 Indonesia
PT Medco Cahaya Geothermal 598.742.361.121 534.150.369.470 PT Medco Cahaya Geothermal
PT Medco Energi Menamas 199.521.271.263 191.661.773.245 PT Medco Energi Menamas
PT Universal Batam Energy 169.673.002.978 74.228.704.032 PT Universal Batam Energy
PT Dalle Energy Batam 79.785.193.624 80.672.384.776 PT Dalle Energy Batam
PT Medco General Power PT Medco General Power
Services 74.619.181.501 61.498.164.058 Services
PT Multidaya Prima Elektrindo 38.763.506.240 38.625.564.031 PT Multidaya Prima Elektrindo
PT Energi Prima Elektrika 28.740.110.383 29.793.802.590 PT Energi Prima Elektrika
PT Medcosolar Bali Timur 2.306.202.465 (1.772.427.488) PT Medcosolar Bali Timur
PT Muara Enim Multi Power 281.370.029 278.024.614 PT Muara Enim Multi Power
PT Medco Geothermal Sarulla 205.252.303 206.291.439 PT Medco Geothermal Sarulla
PT Dalle Panaran 103.555.456 103.559.435 PT Dalle Panaran
PT Indo Medco Power 302.673 302.481 PT Indo Medco Power
PT Nawakara Energi Sumpur (450.474.872) (451.752.623) PT Nawakara Energi Sumpur
PT Sangsaka Agro Lestari (2.844.724.913) (9.795.974.815) PT Sangsaka Agro Lestari
PT Medco Solar Bali Barat (8.557.091.157) (7.804.329.297) PT Medco Solar Bali Barat
Total 3.187.261.696.151 2.941.152.761.239 Total
118
Page 268
2025 Management Business Company Corporate Sustainability
266 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
b. Rincian kepentingan non-pengendali atas laba b. The details of the share of the non-controlling
(rugi) neto entitas anak untuk tahun yang interests in the net profit (loss) of Subsidiaries
berakhir pada tanggal 31 Desember 2025 dan for the years ended December 31, 2025 and
2024 adalah sebagai berikut: 2024 are as follows:
2025 2024
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 99.582.491.245 55.217.351.852 Indonesia
PT Medco Cahaya Geothermal 44.949.070.037 44.651.179.967 PT Medco Cahaya Geothermal
PT Medco Ratch Power Riau 29.619.605.126 47.844.360.002 PT Medco Ratch Power Riau
PT Universal Batam Energy 14.950.480.485 13.343.322.297 PT Universal Batam Energy
PT Medco General Power PT Medco General Power
Services 13.495.144.357 3.881.866.859 Services
PT Medco Energi Menamas 7.865.943.592 14.914.003.822 PT Medco Energi Menamas
PT Sangsaka Agro Lestari 6.944.812.797 (13.179.825.191) PT Sangsaka Agro Lestari
PT Dalle Energy Batam 6.116.308.847 (8.956.068.736) PT Dalle Energy Batam
PT Medcosolar Bali Timur 4.078.629.953 (1.304.194.250) PT Medcosolar Bali Timur
PT Medco Geothermal Sarulla 20.636.649 21.748.493 PT Medco Geothermal Sarulla
PT Muara Enim Multi Power 3.345.415 4.143.262 PT Muara Enim Multi Power
PT Nawakara Energi Sumpur 1.277.752 (167.469.389) PT Nawakara Energi Sumpur
PT Indo Medco Power 191 257 PT Indo Medco Power
PT Dalle Panaran (3.979) - PT Dalle Panaran
PT Energi Prima Elektrika (173.932.474) (325.419.500) PT Energi Prima Elektrika
PT Multidaya Prima Elektrindo (752.129.173) (845.958.792) PT Multidaya Prima Elektrindo
PT Medco Solar Bali Barat (752.761.861) (555.374.870) PT Medco Solar Bali Barat
Total 225.948.918.959 154.543.666.083 Total
c. Rincian kepentingan non-pengendali atas total c. The details of the non-controlling interests in
penghasilan komprehensif entitas anak untuk total comprehensive income of Subsidiaries for
tahun yang berakhir pada tanggal 31 the year ended December 31, 2025 and 2024
Desember 2025 dan 2024 adalah sebagai are as follows:
berikut:
2025 2024
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 99.582.491.249 55.217.351.853 Indonesia
PT Medco Cahaya Geothermal 64.591.991.651 66.794.477.972 PT Medco Cahaya Geothermal
PT Medco Ratch Power Riau 43.192.640.518 111.182.982.707 PT Medco Ratch Power Riau
PT Universal Batam Energy 24.880.411.646 32.575.062.962 PT Universal Batam Energy
PT Medco General Power PT Medco General Power
Services 13.301.017.443 4.089.203.798 Services
PT Medco Energi Menamas 7.859.498.018 14.712.089.336 PT Medco Energi Menamas
PT Sangsaka Agro Lestari 6.951.249.903 (13.165.760.387) PT Sangsaka Agro Lestari
PT Dalle Energy Batam 6.116.308.847 (8.956.068.737) PT Dalle Energy Batam
PT Medcosolar Bali Timur 4.078.629.953 (1.253.267.573) PT Medcosolar Bali Timur
PT Multidaya Prima Elektrindo 1.637.942.209 2.356.126.834 PT Multidaya Prima Elektrindo
PT Energi Prima Elektrika 1.196.307.793 1.756.708.649 PT Energi Prima Elektrika
PT Medco Geothermal Sarulla 20.560.864 198.331.563 PT Medco Geothermal Sarulla
PT Muara Enim Multi Power 3.345.415 4.143.262 PT Muara Enim Multi Power
PT Nawakara Energi Sumpur 1.277.752 (167.469.389) PT Nawakara Energi Sumpur
PT Indo Medco Power 191 257 PT Indo Medco Power
PT Dalle Panaran (3.979) - PT Dalle Panaran
PT Medco Solar Bali Barat (752.761.861) (555.374.870) PT Medco Solar Bali Barat
Total 272.660.907.612 264.788.538.237 Total
119
Page 269
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 267
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
d. Proporsi kepemilikan saham yang dipegang d. Proportion of equity interest held by non-
oleh kepentingan non-pengendali adalah controlling interest are as follows:
sebagai berikut:
2025 2024
PT Medcosolar Bali Timur 49,00 % 49,00 % PT Medcosolar Bali Timur
PT Medco Solar Bali Barat 49,00 % 49,00 % PT Medco Solar Bali Barat
PT Medco Ratch Power Riau 49,00 % 49,00 % PT Medco Ratch Power Riau
PT Medco Cahaya Geothermal 49,00 % 49,00 % PT Medco Cahaya Geothermal
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 40,00 % 40,00 % Indonesia
PT Universal Batam Energy 30,00 % 30,00 % PT Universal Batam Energy
PT Sangsaka Agro Lestari 30,00 % 30,00 % PT Sangsaka Agro Lestari
PT Dalle Energy Batam 20,01 % 20,01 % PT Dalle Energy Batam
PT Muara Enim Multi Power 20,00 % 20,00 % PT Muara Enim Multi Power
PT Nawakara Energi Sumpur 20,00 % 20,00 % PT Nawakara Energi Sumpur
PT Multidaya Prima Elektrindo 15,00 % 15,00 % PT Multidaya Prima Elektrindo
PT Energi Prima Elektrika 7,50 % 7,50 % PT Energi Prima Elektrika
PT Dalle Panaran 0,99 % 0,99 % PT Dalle Panaran
PT Medco General Power PT Medco General Power
Services 0,40 % 0,40 % Services
PT Medco Geothermal Sarulla 0,04 % 0,04 % PT Medco Geothermal Sarulla
PT Indo Medco Power 0,02 % 0,02 % PT Indo Medco Power
PT Medco Energi Menamas 0,01 % 0,01 % PT Medco Energi Menamas
PT Medco Geothermal PT Medco Geothermal
Indonesia 0,01 % 0,01 % Indonesia
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
Porsi kepentingan non-pengendali pada MRPR The portion of equity interest held by non-
adalah sebesar 49%. controlling interest in MRPR is 49%.
Ringkasan informasi keuangan MRPR disajikan di The summarized financial information of MRPR is
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination.
Ringkasan laporan posisi keuangan Summarized statement of financial position
2025 2024
Aset Lancar 1.020.857.220.919 935.220.881.837 Current Assets
Aset Tidak Lancar 4.971.321.557.698 4.977.905.922.013 Non-current Assets
Liabilitas Jangka Pendek 394.750.871.074 358.798.102.990 Current Liabilities
Liabilitas Jangka Panjang 3.342.030.541.889 3.371.591.498.689 Non-current Liabilities
120
Page 270
2025 Management Business Company Corporate Sustainability
268 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
(lanjutan) (continued)
Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
komprehensif lain: comprehensive income:
2025 2024
Pendapatan 527.591.581.425 507.846.700.715 Revenues
Beban pokok pendapatan (100.111.234.070) (85.710.635.676) Cost of revenues
Laba kotor 427.480.347.355 422.136.065.039 Gross profit
Beban operasi (133.069.477.006) (92.042.501.821) Operating expenses
Beban pendanaan (218.534.714.503) (216.585.165.728) Finance costs
Lain-lain 2.687.760.331 8.698.520.830 Others
LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
PENGHASILAN 78.563.916.177 122.206.918.320 EXPENSE
Beban pajak penghasilan (18.115.741.626) (24.565.367.296) Income tax expense
LABA TAHUN BERJALAN 60.448.174.551 97.641.551.024 PROFIT FOR THE YEAR
Penghasilan komprehensif lain 12.211.988.931 84.750.992.528 Other comprehensive Income
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 72.660.163.482 182.392.543.552 INCOME FOR THE YEAR
Laba tahun berjalan yang
diatribusikan kepada: Profit for the year attributable to:
Kepentingan non-pengendali 29.619.605.126 47.844.360.002 Non-controlling interests
Laba komprehensif tahun berjalan Total comprehensive income for
yang diatribusikan kepada: the year attributable to:
Kepentingan non-pengendali 35.603.480.106 89.372.346.340 Non-controlling interests
Ringkasan laporan arus kas Summarized statement of cash flows
2025 2024
Arus kas diperoleh dari aktivitas Cash flows provided by operating
operasi 568.861.899.482 234.410.216.317 activities
Arus kas diperoleh dari (digunakan Cash flows provided by (used in)
untuk) aktivitas investasi (23.206.406.661) 9.435.266.401 investing activities
Arus kas digunakan untuk aktivitas Cash flows used in financing
pendanaan (310.434.267.051) (478.439.248.815) activities
Kenaikan (penurunan) neto kas Net increase (decrease) in cash
dan setara kas 235.221.225.770 (234.593.766.097) and cash equivalents
Perbedaan nilai tukar neto (1.453.413.791) 6.057.691.391 Net foreign exchange differences
Cash and cash equivalents at
Kas dan setara kas awal tahun 19.462.671.844 247.998.746.550 beginning of year
Cash and cash equivalents at
Kas dan setara kas akhir tahun 253.230.483.823 19.462.671.844 end of year
121
Page 271
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 269
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Kansai Power Indonesia (“MKPI”) PT Medco Kansai Power Indonesia (“MKPI”)
Porsi kepentingan non-pengendali pada MKPI The portion of equity interest held by non-
adalah sebesar 40%. controlling interest in MKPI is 40%.
Ringkasan informasi keuangan MKPI disajikan di The summarized financial information of MKPI is
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination.
Ringkasan laporan posisi keuangan Summarized statement of financial position
2025 2024
Aset Lancar 2.109.863.717.209 1.976.240.514.305 Current Assets
Aset Tidak Lancar 3.176.152.459.437 2.404.149.034.013 Non-current Assets
Liabilitas Jangka Pendek 807.602.534.972 624.418.576.806 Current Liabilities
Liabilitas Jangka Panjang 1.547.077.835.335 997.711.446.042 Non-current Liabilities
Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
komprehensif lain: comprehensive income:
2025 2024
Pendapatan 1.614.569.691.651 1.224.588.488.310 Revenues
Beban pokok pendapatan (1.033.145.639.973) (789.627.049.143) Cost of revenues
Laba kotor 581.424.051.678 434.961.439.167 Gross profit
Beban operasi (323.383.437.071) (295.490.803.436) Operating expenses
Beban pendanaan (45.708.577.966) (40.789.272.824) Finance costs
Lain-lain 161.551.999.451 102.861.427.069 Others
LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
PENGHASILAN 373.884.036.092 201.542.789.976 EXPENSE
Beban pajak penghasilan (73.308.831.182) (31.587.523.481) Income tax expense
LABA TAHUN BERJALAN 300.575.204.910 169.955.266.495 PROFIT FOR THE YEAR
Penghasilan komprehensif lain 56.908.962.016 31.453.097.440 Other comprehensive Income
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 357.484.166.926 201.408.363.935 INCOME FOR THE YEAR
Laba tahun berjalan yang
diatribusikan kepada: Profit for the year attributable to:
Kepentingan non-pengendali 51.618.976.791 39.271.419.582 Non-controlling interests
Laba komprehensif tahun berjalan Total comprehensive income for
yang diatribusikan kepada: the year attributable to:
Kepentingan non-pengendali 65.166.156.295 39.271.419.582 Non-controlling interests
122
Page 272
2025 Management Business Company Corporate Sustainability
270 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Kansai Power Indonesia (“MKPI”) PT Medco Kansai Power Indonesia (“MKPI”)
(lanjutan) (continued)
Ringkasan laporan arus kas Summarized statement of cash flows
2025 2024
Arus kas diperoleh dari aktivitas Cash flows provided by operating
operasi 110.134.100.403 453.927.821.020 activities
Arus kas digunakan untuk aktivitas Cash flows used in investing
investasi (136.382.450.575) (195.885.462.796) activities
Arus kas diperoleh dari (digunakan Cash flows provided by (used in)
untuk) aktivitas pendanaan 72.658.857.382 (169.972.597.611) financing activities
Net increase in cash and cash
Kenaikan neto kas dan setara kas equivalents from continuing
dari operasi yang dilanjutkan 46.410.507.210 88.069.760.613 operations
Net increase in cash and cash
Kenaikan neto kas dan setara kas 46.410.507.210 88.069.760.613 equivalents
Perbedaan nilai tukar neto 33.061.598.990 3.213.631.133 Net foreign exchange differences
Cash and cash equivalents at
Kas dan setara kas awal tahun 1.312.093.452.242 1.220.810.060.496 beginning of year
Cash and cash equivalents at
Kas dan setara kas akhir tahun 1.391.565.558.442 1.312.093.452.242 end of year
PT Medco Cahaya Geothermal (“MCG”) PT Medco Cahaya Geothermal (“MCG”)
Porsi kepentingan non-pengendali pada MCG The portion of equity interest held by non-
adalah sebesar 49%. controlling interest in MCG is 49%.
Ringkasan informasi keuangan MCG disajikan di The summarized financial information of MCG is
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination.
Ringkasan laporan posisi keuangan Summarized statement of financial position
2025 2024
Aset Lancar 329.047.620.080 163.191.901.089 Current Assets
Aset Tidak Lancar 4.328.353.012.885 4.027.677.940.493 Non-current Assets
Liabilitas Jangka Pendek 929.560.008.055 1.427.027.830.177 Current Liabilities
Liabilitas Jangka Panjang 2.565.833.692.353 1.734.584.276.449 Non-current Liabilities
123
Page 273
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 271
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Cahaya Geothermal (“MCG”) PT Medco Cahaya Geothermal (“MCG”)
(lanjutan) (continued)
Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
komprehensif lain: comprehensive income:
2025 2024
Pendapatan 492.755.157.680 1.307.143.866.887 Revenues
Beban pokok pendapatan (195.936.365.419) (1.039.541.489.452) Cost of revenues
Laba kotor 296.818.792.261 267.602.377.435 Gross profit
Beban operasi (61.546.375.975) (30.921.240.061) Operating expenses
Beban pendanaan (120.091.003.490) (133.915.504.010) Finance costs
Lain-lain 7.005.155.502 19.207.354.078 Others
LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
PENGHASILAN 122.186.568.298 121.972.987.442 EXPENSE
Beban pajak penghasilan (30.453.769.946) (30.848.131.987) Income tax expense
LABA TAHUN BERJALAN 91.732.798.352 91.124.855.455 PROFIT FOR THE YEAR
Penghasilan komprehensif lain 41.016.399.247 44.881.245.766 Other comprehensive Income
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 132.749.197.599 136.006.101.221 INCOME FOR THE YEAR
Laba tahun berjalan yang
diatribusikan kepada: Profit for the year attributable to:
Kepentingan non-pengendali 44.949.070.037 44.651.179.967 Non-controlling interests
Laba komprehensif tahun berjalan Total comprehensive income for
yang diatribusikan kepada: the year attributable to:
Kepentingan non-pengendali 65.047.106.824 66.642.989.598 Non-controlling interests
Ringkasan laporan arus kas Summarized statement of cash flows
2025 2024
Arus kas diperoleh dari (digunakan Cash flows provided by (used in)
untuk) aktivitas operasi 193.451.341.810 (78.253.279.697) operating activities
Arus kas digunakan untuk aktivitas Cash flows used in investing
investasi (151.300.950.829) (139.418.288.764) activities
Arus kas diperoleh dari aktivitas Cash flows provided by financing
pendanaan 47.460.735.687 308.837.219.086 activities
Net increase in cash and cash
Kenaikan neto kas dan setara kas 89.611.126.668 91.165.650.625 equivalents
Perbedaan nilai tukar neto (105.530.448) (2.972.847.599) Net foreign exchange differences
Cash and cash equivalents at
Kas dan setara kas awal tahun 148.494.187.825 60.301.384.799 beginning of year
Cash and cash equivalents at
Kas dan setara kas akhir tahun 237.999.784.045 148.494.187.825 end of year
Lain-lain Others
Pada tahun 2025 dan 2024, beberapa entitas anak In 2025 and 2024, certain subsidiaries of PT Medco
PT Medco Power Indonesia membayarkan dividen Power Indonesia paid dividends for the year 2024
untuk tahun 2024 dan 2023, dimana dividen and 2023 whereby dividends equivalent to
masing-masing setara dengan Rp112.158.972.700 Rp112,158,972,700 and Rp92,825,729,528 were
dan Rp92.825.729.528 telah dibayarkan kepada paid to non-controlling interest.
pihak non-pengendali.
124
Page 274
2025 Management Business Company Corporate Sustainability
272 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
31. EKUITAS 31. EQUITY
Modal Saham Capital Stock
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
komposisi pemegang saham dan kepemilikannya shareholders and their respective share ownership
adalah sebagai berikut: are as follows:
Persentase Modal ditempatkan
kepemilikan/ dan disetor penuh/
Total Saham/ Percentage of Subscribed and fully
Pemegang Saham Number of shares ownership (%) paid Capital Shareholders
PT Medco Power 561.000.000 51 % 561.000.000.000 PT Medco Power
Internasional Internasional
PT Medco Energi 539.000.000 49 % 539.000.000.000 PT Medco Energi
Internasional Tbk Internasional Tbk
Total 1.100.000.000 100 % 1.100.000.000.000 Total
Tambahan modal disetor Additional paid-in capital
Akun ini merupakan selisih lebih kas yang diterima This account represents the excess of cash
dari penerbitan saham dengan total nilai nominal received from the issuance of shares of stock over
saham yang diterbitkan dan selisih transaksi the total nominal value of the shares issued and
dengan entitas sepengendali difference in transaction with entity under common
control
Cadangan umum General reserve
Dalam Rapat Umum Pemegang Saham Tahunan During the Annual General Meeting of
pada tanggal 29 Juni 2022 yang dinyatakan dalam Shareholders dated June 29, 2022 covered by
Akta Notaris Michael Suryono Halim. S.H., M.Kn., Michael Suryono Halim. S.H., M.Kn., No. 11 dated
No. 11 bertanggal 29 Juni 2022, para pemegang June 29, 2022, the shareholders approved the
saham menyetujui penyisihan cadangan umum appropriation of general reserve amounting to
sebesar Rp220.000.000.000. Rp220,000,000,000.
Selisih transaksi dengan pihak non-pengendali Difference in transactions with non-controlling
interest
2025 2024
Penjualan 49% kepemilikan di Divestment of 49% ownership in
MGeoPS 277.174.053.683 277.174.053.683 MGeoPS
Penambahan 48,9% kepemilikan di
MGPS, 7,5% kepemilikan di Additional 48.9% ownership in
EPE dan 22,32% kepemilikan di MGPS, 7.5% ownership in EPE
DEB (168.805.220.412) (168.805.220.412) and 22.32% ownership in DEB
Penjualan 49% kepemilikan di Divestment of 49% ownership in
MCG 13.550.910.922 13.550.910.922 MCG
Transaksi divestasi dengan KEPTI 721.128.317.691 721.128.317.691 Divestment transaction with KEPTI
Lain-lain 2.968.997.527 2.968.997.527 Others
Total 846.017.059.411 846.017.059.411 Total
125
Page 275
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 273
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
32. PENDAPATAN USAHA 32. REVENUES
Rincian pendapatan usaha adalah sebagai berikut: The details of revenues are as follows:
2025 2024
Pendapatan penjualan listrik 1.215.194.276.897 745.542.298.976 Sales of electric power
Operation and maintenance
Jasa operasi dan pemeliharaan 636.214.909.003 461.939.857.494 services
Pendapatan keuangan dari konsesi Finance income from service
jasa (Catatan 13) 618.503.186.368 599.131.107.411 concession (Note 13)
Pendapatan konstruksi (Catatan
13) 276.415.069.030 1.277.391.832.748 Construction revenue (Note 13)
Pendapatan dari sewa pembangkit Income from lease of electric
listrik 185.658.075.600 187.296.679.995 power plant
Total 2.931.985.516.898 3.271.301.776.624 Total
Rincian pendapatan dari pelanggan yang melebihi The details of revenues from customers which
10% dari total pendapatan usaha berasal dari: exceeded 10% of the total revenues, are as follows:
2025 2024
Pendapatan/ Pendapatan/
Revenues % Revenues %
PT PLN (Persero) 1.337.378.494.792 46 2.014.630.237.185 62 PT PLN (Persero)
PT PLN Batam 920.195.513.623 31 660.312.562.419 20 PT PLN Batam
PT PLN Pembangkitan PT PLN Pembangkitan
Tanjung Jati B 334.939.184.260 11 288.695.694.445 9 Tanjung Jati B
Total 2.592.513.192.675 88 2.963.638.494.049 91 Total
33. BEBAN POKOK PENDAPATAN 33. COST OF REVENUES
Rincian beban pokok pendapatan adalah sebagai The details of cost of revenues are as follows:
berikut:
2025 2024
Beban pembelian gas 663.909.492.502 429.035.697.184 Cost of gas
Beban konstruksi 265.498.175.692 1.202.076.565.697 Construction costs
Gaji dan tunjangan pegawai 139.078.453.648 115.318.541.861 Salaries and employee benefits
Beban pemeliharaan 109.924.605.991 101.982.019.295 Maintenance costs
Management and technical
Manajemen dan dukungan teknis 103.854.567.948 81.382.502.817 support
Penyusutan (Catatan 18) 97.300.410.509 93.219.319.628 Depreciation (Note 18)
Barang habis pakai (Catatan 9) 61.316.008.340 53.948.042.894 Consumables (Note 9)
Sewa peralatan 1.576.379.500 544.675.000 Rental of equipment
Total 1.442.458.094.130 2.077.507.364.376 Total
Rincian pembelian dari penyedia yang melebihi The details of purchases from vendors which
10% dari total pendapatan yang usaha dari: exceeded 10% of the total revenues, are as follows:
2025 2024
Pembelian/ Pembelian/
Purchase % Purchase %
PT PGN (Persero) Tbk 536.416.380.248 18 341.499.150.835 10 PT PGN (Persero) Tbk
Total 536.416.380.248 18 341.499.150.835 10 Total
126
Page 276
2025 Management Business Company Corporate Sustainability
274 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
34. BEBAN OPERASIONAL 34. OPERATING EXPENSES
Rincian akun ini terdiri dari: This account consists:
2025 2024
Gaji dan tunjangan karyawan 290.190.916.905 310.119.504.625 Salaries and employee benefits
Asuransi 78.171.035.855 53.032.042.171 Insurance
Denda kontrak 48.705.556.021 28.198.257.131 Contract penalties
Penyusutan (Catatan 14 dan 18) 45.430.996.912 41.964.148.830 Depreciation (Notes 14 and 18)
Beban kantor dan pembangkit
listrik 42.063.655.265 26.764.191.128 Office and power plant expenses
Jasa profesional 39.632.237.666 32.903.751.155 Professional fees
Keamanan 34.569.106.359 20.895.012.845 Security
Biaya perizinan 28.770.978.801 7.663.847.743 Admission fee
Sewa 19.594.793.387 17.303.753.170 Rental
Perjalanan 12.694.622.275 18.314.242.794 Traveling
Representasi dan jamuan 8.655.128.898 1.781.052.209 Representation and entertainment
Jasa kebersihan 7.402.755.310 7.525.997.479 Cleaning service
Pelatihan dan seminar 5.878.466.661 9.817.336.762 Training and seminars
Transportasi 5.428.222.872 7.530.777.713 Transportation
Pemeliharaan 4.957.027.962 3.353.207.377 Maintenance
Amortisasi atas aset takberwujud Amortization of intangible assets
(Catatan 17) 4.576.482.262 3.593.585.502 (Note 17)
Sumbangan dan iuran 3.516.804.782 2.564.596.655 Donations and contributions
Jasa manajemen 3.113.604.058 3.138.826.723 Management fee
Lain-lain 153.486.084 13.699.515.492 Others
Total 683.505.878.335 610.163.647.504 Total
35. PENDAPATAN LAIN-LAIN 35. OTHER INCOME
Rincian pendapatan lain-lain adalah: The details of other income are as follows:
2025 2024
Keuntungan selisih kurs - neto 116.864.342.276 83.776.900.303 Gain on foreign exchange - net
Keuntungan atas modifikasi Gain on modification of finance
piutang sewa pembiayaan 86.060.247.410 - lease receivables
Gain on sales of property, plant
Keuntungan penjualan aset tetap 2.503.583.911 151.754.970 and equipment
Penjualan dari sertifikasi energi Sales from renewable energy
terbarukan 1.894.059.727 345.203.985 certificates
Pengembalian atas klaim asuransi 324.154.357 37.181.212.260 Insurance claims reimbursements
Lain-lain (masing-masing di bawah Others (each below
Rp500.000.000) 3.452.654.894 2.348.712.691 Rp500,000,000)
Total 211.099.042.575 123.803.784.209 Total
127
Page 277
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 275
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
36. BEBAN LAIN-LAIN 36. OTHER EXPENSES
Rincian beban lain-lain adalah: The details of other expenses are as follows:
2025 2024
Kerugian piutang sewa
pembiayaan yang tidak tertagih Loss for uncollected finance lease
(Catatan 11) 18.119.066.947 132.929.790.599 receivables (Note 11)
Kekurangan bayar biaya gas masa
lalu 1.363.938.199 9.558.836.889 Underpayment of past gas cost
Loss on disposal of property, plant
Kerugian penghapusan aset tetap - 12.391.325.981 and equipment
Kerugian penurunan nilai goodwill Loss on impairment goodwill
(Catatan 17) - 7.300.000.000 (Note 17)
Kerugian penurunan nilai perizinan Loss on impairment licenses
(Catatan 17) - 7.133.047.720 (Note 17)
Lain-lain 5.448.121.427 2.596.648.918 Others
Total 24.931.126.573 171.909.650.107 Total
37. BEBAN PENDANAAN 37. FINANCE COSTS
Rincian beban pendanaan adalah: The details of finance costs are as follows:
2025 2024
Beban bunga pinjaman 295.796.550.059 329.313.259.453 Loan interest expense
Beban bunga obligasi dan sukuk Bonds and sukuk wakalah interest
wakalah 292.742.123.589 195.292.837.291 expense
Biaya bank garansi 192.010.045.265 155.165.655.102 Bank guarantee fees
Beban pendanaan lainnya 11.833.363.110 7.083.694.701 Other financing costs
Total 792.382.082.023 686.855.446.547 Total
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN AND COMMITMENTS
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: agreements as follows:
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Bio Jatropha Indonesia
PT PLN (Persero) 1 Februari 2012; BJI mengoperasikan pembangkit listrik tenaga 15 tahun setelah Tanggal
Unit Induk Distribusi terakhir diubah pada mini-hidro 3x3 MW pada aliran Sungai Operasi Komersial ("COD")
Jawa Barat ("PT tanggal Cibalapulang, yang berlokasi di Cianjur, Jawa (sampai dengan September
PLN UIDJB") 28 Agustus 2017/ Barat. PT PLN UIDJB setuju untuk membayar 2032)
February 1, 2012; listrik kepada Perusahaan sesuai harga yang
last amendment disepakati para pihak 15 years after Commercial
dated August 28, Operating Date ("COD")
2017 BJI operates a 3x3 MW mini-hydro power (until September 2032).
plant on the flow of Cibalapulang River,
located in Cianjur, West Java. PT PLN UIDJB
agreed to pay the electricity to the Company
at the agreed price by the parties.
128
Page 278
2025 Management Business Company Corporate Sustainability
276 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Dalle Energy Batam
PT PLN Batam 20 Mei 2005; DEB diharuskan untuk mendanai, Amendemen ini mengatur
terakhir diubah pada membangun dan mengoperasikan 2 unit Gas mengenai perpanjangan
tanggal 25 Maret Turbin Generator dengan chiller ("SCPP") perjanjian jual beli tenaga
2025/May 20, 2005; serta Steam Turbine Generator ("CCPP"). PT listrik sampai dengan 31
last amendment PLN Batam setuju untuk membayar listrik Maret 2030.
dated March 25, kepada Perusahaan sesuai harga yang
2025 disepakati Para Pihak
This amendement regulates
DEB is required to fund, operate and maintain on the extension of power
2 units of Gas Turbine Generator with chiller purchase agreement which
("SCPP") and Steam Turbine Generator period extended up to
("CCPP"). PT PLN Batam agreed to pay the March 31, 2030.
electricity to the Company at the agreed price
by the Parties.
PT Energi Listrik Batam
PT PLN Batam 15 Oktober 2012; ELB mengoperasikan pembangkit listrik 2x35 20 tahun setelah Tanggal
terakhir diubah pada MW. PT PLN Batam setuju untuk membayar Operasi Komersial ("COD")
tanggal 21 Juli 2023/ listrik kepada Perusahaan sesuai harga yang Unit CCPP (8 November
October 15, 2012; disepakati Para Pihak. PT PLN Batam 2025).
effective as of July memiliki opsi untuk membeli kepemilikan dan
21, 2023 kepentingan ELB dalam proyek tersebut
selama masa Perjanjian Pembelian Tenaga 20 years after Commercial
Listrik. Operation Date ("COD") of
CCPP Unit (November 8,
Pada tanggal 21 Juli 2023, Para Pihak 2025).
menandatangani amendemen IV mengenai
perubahan skema pembangkit dari Simple
Cycle Power Plant (“SCPP”) menjadi
Combined Cycle Gas Power Plant (“CCPP”)
dengan menambah unit baru berkapasitas 39
MW, sehingga total kapasitas menjadi 109
MW. Perjanjian tersebut berlaku efektif pada
Agustus 2023.
ELB operates 2x35 MW power plant. PT PLN
Batam agreed to pay the electricity to the
Company at the agreed price by the Parties.
PT PLN Batam has the option to purchase
ELB’s ownership and interest in the project
anytime during the term of the Power
Purchase Agreement.
On July 21 2023, the Parties signed
Amendment IV regarding the changes of
electricity generation scheme from Simple
Cycle Power Plant (“SCPP”) to Combined
Cycle Gas Power Plant (“CCPP”) by adding a
new unit with a capacity of 39 MW, bringing
the total capacity to 109 MW. The agreement
is effective in August 2023.
129
Page 279
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 277
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Energi Prima Elektrika
PT Prima Layanan 10 November 2004; Semua hak dan kewajiban PT PLN-E 20 tahun dengan
Nasional Enjiniring terakhir diubah pada berdasarkan Perjanjian Pembelian Tenaga perpanjangan tahunan atas
("PT PLN-E") dan PT tanggal 3 September Listrik yang ditandatangani antara PT PLN- persetujuan kedua belah
PLN (Persero) Unit 2024/November 10, E dan PT PLN UIWS2JB dialihkan ke EPE. pihak (sampai dengan Juni
Induk Wilayah 2004; last EPE diharuskan mendanai, membangun 2026)
Sumatera Selatan, amendment dated dan mengoperasikan proyek Generator
Jambi dan Bengkulu September 3, 2024 Mesin Gas (“GMG”). PT PLN UIWS2JB 20 years subject to annual
(“PT PLN setuju untuk membayar listrik kepada extension upon approval by
UIWS2JB”) Perusahaan sesuai harga yang disepakati both parties (until June
Para Pihak 2026)
All rights and obligations of PT PLN-E
under the Power Purchase Agreement
entered into between PT PLN-E and PT
PLN UIWS2JB were transferred to EPE.
EPE is required to fund, establish and
operate the Gas Engine Generator (“GEG”).
PT PLN UIWS2JB agreed to pay the
electricity to the Company at the agreed
price by the Parties.
PT Medco Cahaya Geothermal
PT PLN (Persero) 27 Februari 2013; MCG membangun, memiliki dan 30 tahun sejak setelah
terakhir diubah pada mengoperasikan pembangkit listrik tenaga Tanggal Operasi Komersial
tanggal panas bumi 2x55 MW dengan kapasitas ("COD") unit operasi
9 Desember 2022/ minimal 30 MW. PT PLN (Persero) setuju terakhir.
February 27, 2013; untuk membayar listrik kepada Perusahaan
last amendment sesuai harga yang disepakati Para Pihak
dated December 9, 30 years after Commercial
2022 MCG constructs, owns and operates a 2x55 Operation Date ("COD")
MW geothermal power plant with minimum from latest unit operation.
capacity of 30 MW. PT PLN (Persero)
agreed to pay the electricity to the
Company at the agreed price by the
Parties.
PT Medco Ratch Power Riau
PT PLN (Persero) 7 April 2017; terakhir MRPR mengoperasikan pembangkit listrik 20 tahun setelah Tanggal
diubah pada tanggal tenaga gas berkapasitas 275 MW. PT PLN Operasi Komersial ("COD")
27 Februari 2025/ (Persero) setuju untuk membayar listrik pada 10 Februari 2042
April 7, 2017; last kepada Perusahaan sesuai harga yang
amendment dated disepakati Para Pihak 20 years after Commercial
February 27, 2025 Operating Date ("COD") on
MRPR operates 275 MW gas fired power February 10, 2042.
plant. PT PLN (Persero) agreed to pay the
electricity to the Company at the agreed
price by the Parties.
PT Medco Solar Bali Barat
PT PLN (Persero) 24 Maret 2022; MSBB telah menandatangani Perjanjian 20 tahun setelah Tanggal
terakhir diubah Jual Beli Tenaga Listrik ("PJBTL") dengan Operasi Komersial ("COD")
tanggal 17 PT PLN (Persero) untuk pengoperasian
Desember 2024/ Pembangkit Listrik Tenaga Surya 20 years after Commercial
March 24, 2022; last Fotovoltaik berkapasitas 25 MWp yang Operating Date ("COD").
amendment dated berlokasi di Bali bagian Barat. PT PLN
December 17, 2024 (Persero) setuju untuk membayar listrik
kepada Perusahaan sesuai harga yang
disepakati Para Pihak
MSBB has entered into a Power Purchase
Agreement ("PPA") with PT PLN (Persero)
for the operation of Solar Photovoltaic
Power Plant facility with an installed
capacity 25 MWp located at Western Bali.
PT PLN (Persero) agreed to pay the
electricity to the Company at the agreed
price by the Parties.
130
Page 280
2025 Management Business Company Corporate Sustainability
278 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Medcosolar Bali Timur
PT PLN (Persero) 24 Maret 2022; MSBT telah menandatangani Perjanjian 20 tahun setelah Tanggal
terakhir diubah Jual Beli Tenaga Listrik ("PJBTL") dengan Operasi Komersial ("COD")
tanggal 17 PT PLN (Persero) untuk pengoperasian pada 17 Juli 2025.
Desember 2024/ Pembangkit Listrik Tenaga Surya
March 24, 2022; last Fotovoltaik berkapasitas 25 MWp yang 20 years after Commercial
amendment dated berlokasi di provinsi Bali bagian Timur. PT Operating Date ("COD") on
December 17, 2024 PLN (Persero) setuju untuk membayar July 17, 2025.
listrik kepada Perusahaan sesuai harga
yang disepakati Para Pihak
MSBT has entered into a Power Purchase
Agreement ("PPA") with PT PLN (Persero)
for the operation of Solar Photovoltaic
Power Plant facility with an installed
capacity 25 MWp located at Eastern Bali.
PT PLN (Persero) agreed to pay the
electricity to the Company at the agreed
price by the Parties.
PT Mitra Energi Batam
PT PLN Batam 29 April 2004; MEB diharuskan untuk mendanai, 20 tahun dari 8 September
terakhir diubah pada mengoperasikan dan memelihara proyek 2 2014 (sampai dengan 7
tanggal 27 Juli 2018/ unit Gas Turbin Generator dengan chiller September 2034)
April 29, 2004; last ("SCPP") serta Steam Turbine Generator
amendment dated ("CCPP"). PT PLN Batam setuju untuk 20 years from September 8,
July 27, 2018 membayar listrik kepada Perusahaan 2014 (until September 7,
sesuai harga yang disepakati Para Pihak 2034).
MEB is required to fund, operate and
maintain 2 units of Gas Turbine Generator
with chiller ("SCPP") and Ssteam Turbine
Generator ("CCPP"). PT PLN Batam
agreed to pay the electricity to the
Company at the agreed price by the
Parties.
PT Multidaya Prima Elektrindo
PT Prima Layanan 1 Juni 2004; terakhir Semua hak dan kewajiban PT PLN-E 20 tahun dengan
Nasional Enjiniring diubah tanggal 3 berdasarkan Perjanjian Pembelian Tenaga perpanjangan tahunan atas
("PT PLN-E") dan PT September 2024/ Listrik yang ditandatangani antara PT PLN- persetujuan kedua belah
PLN (Persero) Unit June 1, 2004; last E dan PT PLN UIWS2JB dialihkan ke MPE. pihak (sampai dengan Mei
Induk Wilayah amendment dated MPE diminta untuk mendanai, membangun 2028)
Sumatera Selatan, September 3, 2024 dan mengoperasikan proyek Generator
Jambi dan Bengkulu Mesin Gas (“GMG”) dengan kapasitas 12 20 years subject to annual
(“PT PLN MW. PT PLN UIWS2JB setuju untuk extension upon approval by
UIWS2JB”) membayar listrik kepada Perusahaan both parties (until May 2028)
sesuai harga yang disepakati Para Pihak
All rights and obligations of PT PLN-E
under the Power Purchase Agreement
entered into between PT PLN-E and PT
PLN UIWS2JB were transferred to MPE.
MPE is required to fund, establish and
operate the Gas Engine Generator (“GEG”)
with capacity of 12 MW. PT PLN UIWS2JB
agreed to pay the electricity to the
Company at the agreed price by the
Parties.
131
Page 281
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 279
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Pembangkitan Pusaka Parahiangan
PT PLN (Persero) 12 September 2013; PPP mengoperasikan pembangkit listrik 15 tahun setelah Tanggal
Unit Induk Distribusi terakhir diubah pada tenaga mini-hydro 2x4,4 MW pada aliran Operasi Komersial ("COD")
Jawa Barat ("PT tanggal Sungai Cibuni, yang berlokasi di Cianjur, (sampai dengan Mei 2033)
PLN UIDJB") 29 Januari 2019/ Jawa Barat. PT PLN UIDJB setuju untuk
September 12, 2013; membayar listrik kepada Perusahaan 15 years after Commercial
last amendment sesuai harga yang disepakati Para Pihak Operating Date ("COD")
dated January 29, (until May 2033).
2019 PPP operates a 2x4.4 MW mini-hydro
power plant on the flow of Cibuni River,
located in Cianjur, West Java. PT PLN
UIDJB agreed to pay the electricity to the
Company at the agreed price by the
Parties.
ii. Perjanjian Operasi dan Pemeliharaan ii. Operation and Maintenance Agreements
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Geothermal Sarulla
Sarulla Operation Kontrak pertama 29 Perjanjian operasi dan pemeliharaan Perpanjangan 6 tahun sejak
Ltd ("SOL") September 2016; dengan SOL untuk Pembangkit Listrik 4 Juli 2024
terakhir diubah Tenaga Panas Bumi Sarulla
tanggal 3 November 6 years extensions from
2024/First contract Operation and Maintenance agreement with July 4, 2024
on September 29, SOL for Sarulla Geothermal Power
2016; last Facilities.
amendment dated
November 3, 2024
PT Medco Power Indonesia
PT PLN (Persero) 9 September 2019; Konsorsium 5oC yang terdiri dari MPI dan 5 tahun sejak tanggal
dan Konsorsium 5oC terakhir diubah pada lainnya telah menandatangani kontrak EPC operasi komersial (COD)
("IKPT-PP"- tanggal 2 Desember dan O&M dengan PT PLN (Persero) untuk (Maret 2025)
Sumitomo-Itochu- 2024/September 9, PLTU Sulut-1.
MPI) 2019; last amended 5 years from Commercial
dated December 2, The 5oC Consortium consist of MPI and Operating Date (COD)
2024 others has signed an EPC and O&M (March 2025)
Contract with PT PLN (Persero) for PLTU
Sulut-1.
PT PLN (Persero) 9 September 2019; Konsorsium 5oC yang terdiri dari MPI dan 5 tahun sejak tanggal
dan Konsorsium 5oC terkahir diubah pada lainnya telah menandatangani kontrak EPC operasi komersial (COD)
("IKPT-PP"- tanggal 12 Juli 2024/ dan O&M dengan PT PLN (Persero) untuk (September 2024)
Sumitomo-Itochu- September 9, 2019; PLTU Timor-1.
MPI) last amended dated 5 years from Commercial
July 12, 2024 The 5oC Consortium consist of MPI and Operating Date (COD)
others has signed an EPC and O&M (September 2024)
Contract with PT PLN (Persero) for PLTU
Timor-1.
132
Page 282
2025 Management Business Company Corporate Sustainability
280 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
ii. Perjanjian Operasi dan Pemeliharaan ii. Operation and Maintenance Agreements
(lanjutan) (continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT TJB Power Services
PT PLN (Persero) 9 Juni 2005; terakhir Konsorsium dari PT Medco Energi 24 tahun
diubah pada tanggal Internasional Tbk-Fortum Service Oy
28 Maret 2018/June (Medco Fortum) menandatangani Operation 24 years.
9, 2005; last & Maintenance Agreement (O&M
amendment dated Agreement) dengan PLN. Medco Fortum
March 28, 2018 ditunjuk sebagai operator pembangkit listrik
tenaga batu bara berkapasitas 2x660 MW.
Pada tanggal 27 September 2005, Medco
Fortum, MPI dan PLN menandatangani
amendemen Perjanjian No. 1 untuk O&M
Agreement dimana para pihak sepakat
untuk memasukkan MPI sebagai salah satu
pihak dalam O&M Agreement dan sebagai
operator awal proyek sampai perusahaan
yang bertujuan khusus (“SPC”) untuk
mengoperasikan pembangkit listrik tenaga
tersebut didirikan. Pada tahun 2006, TJBPS
didirikan sebagai SPC
The Consortium of PT Medco Energi
Internasional Tbk-Fortum Service Oy
(Medco Fortum) signed an Operation &
Maintenance Agreement (O&M Agreement)
with PLN. Medco Fortum is appointed as
the operator of the 2x660 MW coal fired
power station. On September 27, 2005,
Medco Fortum, MPI and PLN entered into
an Agreement Amendment No. 1 for O&M
Agreement where the parties agreed to
include MPI as one of the parties to the
O&M Agreement and the initial operator of
the project until the special purpose
company (“SPC”) to operate the coal fired
power station is established. In 2006,
TJBPS was established as the SPC.
133
Page 283
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 281
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
iii. Perjanjian Jual Beli Gas iii. Gas Sale and Purchase Agreements
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Universal Batam Energy
Premier Oil, Natuna 15 April 2008/ Premier Oil, Natuna 1, Natuna 2 dan 20 tahun
1 BV (“Natuna 1”), April 15, 2008 Natuna setuju untuk menjual dan UBE
Natuna 2 B.V. setuju untuk membeli gas sebesar 20 BBTU 20 years.
(“Natuna 2”), dari cadangan yang dilakukan
KUFPEC Indonesia dan dari sumber lain milik penjual gas
("Natuna") B.V.
Premier Oil, Natuna 1, Natuna 2, and
Natuna agreed to sell and UBE agreed to
purchase gas 20 BBTU from committed
reserves and from other sources of gas
sellers.
PT Energi Prima Elektrika
PT Pertamina EP 30 Mei 2006; PT Pertamina EP setuju untuk 10 tahun, kontrak
terakhir diubah pada menyediakan dan mengirimkan gas ke diperpanjang hingga 31
tanggal 18 pembangkit listrik EPE untuk 2 MMSCF per Desember 2023
Desember 2024/May hari dengan pembelian minimum tahunan
30, 2006; last 80%. Pada tanggal 18 Desember 2024, 10 years, contract was
amendment dated para pihak sepakat untuk merevisi harga extended up to December
December 18, 2024. gas sementara dan melaksanakan 31, 2023
keputusan pemerintah terkait harga gas
Saat ini sedang proses
PT Pertamina EP agreed to provide and perpanjangan kontrak
deliver gas to EPE’s power plant for 2 hingga berakhir masa
MMSCF and minimum annual gas usage of berlaku PPA/
80%. On December 18, 2024, the parties Currently in the process of
agreed to revise the temporary gas price extending the contract until
and implement the government decision on the end of PPA terms.
gas prices.
PT Multidaya Prima Elektrindo
PT Pertamina EP 30 Mei 2008; PT Pertamina EP setuju untuk memberikan 10 tahun, kontrak
terakhir diubah pada dan mengirimkan gas ke pembangkit listrik diperpanjang hingga 31
tanggal 18 MPE untuk 2 MMSCF per hari dengan Desember 2023
Desember 2024 pembelian minimum tahunan 80%. Pada
tanggal 18 Desember 2024, para pihak 10 years, contract was
May 30, 2008; last sepakat untuk merevisi harga gas extended up to December
amendment dated sementara dan melaksanakan keputusan 31, 2023
December 18, 2024 pemerintah terkait harga gas
Saat ini sedang proses
PT Pertamina EP agreed to provide and perpanjangan kontrak
deliver gas to MPE’s power plant for 2 hingga berakhir masa
MMSCF and minimum purchase annual gas berlaku PPA/
usage of 80%. On December 18, 2024, the Currently in the process of
parties agreed to revise the temporary gas extending the contract until
price and implement the government the end of PPA terms.
decision on gas prices.
134
Page 284
2025 Management Business Company Corporate Sustainability
282 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
iii. Perjanjian Jual Beli Gas (lanjutan) iii. Gas Sale and Purchase Agreements
(continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Energi Listrik Batam
PT PGN (Persero) 28 Agustus 2020; PT PGN (Persero) Tbk setuju untuk Sampai dengan 31
Tbk terakhir diubah pada memberikan dan mengirimkan gas ke Desember 2028
tanggal 20 pembangkit listrik ELB sebanyak 3.00-3.60
Desember 2024/ BBTU untuk periode sejak tanggal dimulai Up to December 31, 2028
August 28, 2020; sampai dengan 30 November 2022,
last amended dated sebanyak 10.00-12.00 BBTU untuk periode
December 20, 2024 sejak 1 Desember 2022 sampai dengan
beroperasinya Add-On CCPP, dan
sebanyak 15.53-18.64 BBTU dari tanggal
beroperasinya Add-On CCPP sampai
tanggal berakhirnya Perjanjian
PT PGN (Persero) Tbk agreed to provide
and deliver gas to the ELB’s power plant in
the amount of 3.00-3.60 BBTU for the
period from the start date until November
30, 2022, in the amount 10.00-12.00 BBTU
for the period from 1 December 2022 until
the operation of Add-On CCPP, and in the
amount of 15.53-18.64 BBTU from the
operation of Add-On CCPP until the end
date of Agreement.
iv. Perjanjian Jasa Kontrak iv. Contractual Service Agreements
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Energi Listrik Batam
PT General Electric 28 Desember 2012/ Perjanjian Jasa Kontrak dengan GEOI 20 tahun sejak tanggal
Operations December 28, 2012 dimana GEOI setuju untuk menyediakan mulai pemeliharaan
Indonesia (“GEOI”) layanan pemeliharaan rutin jangka panjang
untuk mendukung Proyek GTG.
20 years from the
maintenance start date.
Contractual Service Agreement with GEOI
whereby GEOI agreed to provide long-term
routine maintenance services to support the
GTG Project.
135
Page 285
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 283
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
iv. Perjanjian Jasa Kontrak (lanjutan) iv. Contractual Service Agreements (continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT TJB Power Services
Konsorsium Fortum 10 Juni 2005; Penyedia MTS harus menyediakan jasa 5 tahun sejak amendemen
Service Oy dan terakhir diubah manajemen dan dukungan teknis untuk perjanjian tanggal 9 Agustus
Enprima Oy, tanggal 9 Agustus Proyek Tanjung Jati B dengan total biaya 2021, kontrak diperpanjang
konsorsium yang 2021/ mobilisasi sebesar AS$7.602.288 dan biaya hingga 10 Agustus 2026
didirikan June 10, 2005; last operasi sebesar AS$23.653.500 (biaya dasar)
berdasarkan hukum amendment dated ditambah penyesuaian yang tercantum dalam 5 years since agreement
Finlandia ("Penyedia August 9, 2021 kontrak dan 25% biaya insentif tahunan yang amendment dated August 9,
MTS"), Medco- disetujui oleh PT PLN (Persero). Pada tanggal 2021, contract was
Fortum (“Operator”), 9 Agustus 2021, PT TJB Power Services dan extended up to August 10,
sebuah konsorsium Penyedia MTS mengadakan amendemen atas 2026.
yang didirikan perjanjian MTS dimana kedua pihak setuju
berdasarkan hukum untuk memperpanjang perjanjian untuk lima
Indonesia./ tahun ke depan mulai 11 Agustus 2021 hingga
The Consortium of 10 Agustus 2026. Berdasarkan amendemen
Fortum Service Oy perjanjian, Penyedia MTS akan tetap
and Enprima Oy, a menyediakan jasa manajemen dan dukungan
consortium teknis untuk Perusahaan dengan total biaya
established under operasional minimum AS$7.440.000 (biaya
laws of Finland dasar) ditambah penyesuaian yang tercantum
(“MTS Providers”), dalam kontrak dan 20% dari biaya insentif
Medco-Fortum tahunan yang disetujui oleh PLN.
(“Operator”), the
consortium MTS providers shall provide management and
established under technical support services to Tanjung Jati B
the laws of Project for total mobilization fee of
Indonesia. US$7,602,288 and operating fee of
US$23,653,500 (base fee) plus adjustments
as stated in the contract and 25% of annual
incentive fee approved by PT PLN (Persero).
On August 9, 2021, PT TJB Power Services
and MTS Provider entered into an amendment
of MTS agreement whereby both parties
agreed to extend the agreement for the next
five years starting August 11, 2021 until
August 10, 2026. Under the amended
agreement, MTS Provider will continue to
provide management and technical support
services to the Company for a total minimum
operating fee of US$7,440,000 (base fee) plus
adjustment stated in the contract and 20% of
annual incentive fee approved by PLN.
v. Perjanjian Operasi Bersama Proyek Sarulla v. Joint Operation Contract of Sarulla Projects
Geothermal
Tanggal
Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Geopower Sarulla
Sarulla Inc 27 Desember 2007/ Melaksanakan Grup Kontraktor Pengendalian 1. 360 bulan dimulai
(“Ormat”), Sarulla December 27, 2007 Bersama (“GKPB”) dengan entitas lain untuk pada masa produksi
Power Asset Ltd proyek Sarulla Geothermal Operation untuk: awal pengiriman
(“Itochu”), Kyuden 1. Eksplorasi dan eksploitasi sumber listrik.
Sarulla Pte. Ltd. energi panas bumi; 2. 504 bulan sejak
(“Kyuden”) dan/and 2. Pembangkit listrik dari sumber daya tanggal GKBP.
Sarulla Operations tersebut; dan
Ltd (“SOL” atau/or 3. Penjualan listrik ke PLN. 1. 360 months
“Operator”) commencing on the
Joint Operation Contract Group (“JOCG”) with initial production
other entities on Sarulla Geothermal Projects for: period for delivery of
1. Exploration and exploitation of electricity.
geothermal energy resources; 2. 504 months from
2. Generate the electricity from those the effective date for
resources; and JOCG.
3. Sale of electricity to PLN.
136
Page 286
2025 Management Business Company Corporate Sustainability
284 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
vi. Perjanjian Teknis, Pengadaan, dan Konstruksi vi. Engineering, Procurement, and Construction
Contract
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Energi Listrik Batam
PT Inti Karya 21 Juli 2023; efektif Pada tanggal 21 Juli 2023, ELB Tidak disebutkan secara
Persada Tehnik per 3 Agustus 2023/ menandatangani Engineering, Procurement spesifik
Batam ("IKPT July 21, 2023; and Construction Contract dengan IKPT
Batam") effective as of Batam untuk pelaksanaan pekerjaan Not specifically mentioned
August 3, 2023 rekayasa, pengadaan dan konstruksi Steam
Turbine Generator berkapasitas 39 MW di
PLTG Tanjung Uncang Batam milik ELB.
Perjanjian tersebut berlaku efektif sejak
tanggal 3 Agustus 2023.
On July 21, 2023, ELB signed an
Engineering, Procurement and Construction
Contract with IKPT Batam regarding the
engineering, procurement and construction
of Steam Turbine Generator with capacity
39MW in PLTG Tanjung Uncang owned by
ELB. The agreement has been effective as
of August 3, 2023.
PT Medcosolar Bali Timur
PT Tritama Mitra 29 November 2023/ PT Tritama Mitra Lestari sepakat untuk Tidak disebutkan secara
Lestari November 29, 2023 menyediakan pekerjaan awal atas jasa spesifik
engineering, procurement and construction
activities untuk Bali Solar PV 25MWp. Not specifically mentioned
PT Tritama Mitra Lestari agreed to provide
initial work on engineering services,
procurement and constructions activities for
Bali Solar PV 25 MWp.
PT Siemens Energy 29 November 2023/ PT Siemens Energy Indonesia sepakat Tidak disebutkan secara
Indonesia November 29, 2023 untuk menyediakan pekerjaan awal atas spesifik
jasa engineering, procurement and
construction activities untuk Bali Solar PV Not specifically mentioned
25MWp.
PT Siemens Energy Indonesia agreed to
provide initial work on engineering services,
procurement and constructions activities for
Bali Solar PV 25 MWp.
PT Graha Usaha 29 November 2023/ PT Graha Usaha Teknik sepakat untuk Tidak disebutkan secara
Teknik November 29, 2023 menyediakan pekerjaan awal atas jasa spesifik
engineering, procurement and construction
activities untuk Bali Solar PV 25MWp. Not specifically mentioned
PT Graha Usaha Teknik agreed to provide
initial work on engineering services,
procurement and constructions activities for
Bali Solar PV 25 MWp.PT Graha Usaha
Teknik agreed to provide initial work on
engineering services, procurement and
constructions activities for Bali Solar PV 25
MWp.
137
Page 287
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 285
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
vi. Perjanjian Teknis, Pengadaan, dan Konstruksi vi. Engineering, Procurement, and Construction
(lanjutan) Contract (continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Cahaya Geothermal
Ormat 11 Januari 2023/ Ormat International Inc, sepakat untuk Tidak disebutkan secara
International ,Inc January 11, 2023 melakukan jasa Kontrak Offshore spesifik.
Equipment Supply untuk MCG dengan
harga kontrak sebesar AS$32,1juta. Not specifically mentioned.
Ormat International Inc agreed to provide
Offshore Equipment Supply Contract with
contract price of US$32.1million.
Consortium PT Inti 11 Januari 2023/ Konsorsium IKPT-Multifab, sepakat untuk Tidak disebutkan secara
Karya Persada January 11, 2023 melakukan jasa EPCC Onshore untuk MCG spesifik.
Teknik (IKPT) - PT dengan harga kontrak sebesar AS$2,2 juta
Multifabrindo + Rp597,44miliar. Not specifically mentioned.
Gemilang (MFG)
Consortium IKPT - Multifab agreed to
provide EPC Onshore Contract, with
contract price of US$2,2million +
Rp597.44billion.
vii. Kontrak Pengeboran Panas Bumi vii. Geothermal Drilling Contract
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Cahaya Geothermal
PT Exspan Petrogas 11 Januari 2023/ EPI setuju untuk menyediakan jasa Drilling Tidak disebutkan secara
Intranusa (“EPI”) January 11, 2023 Rig pada pengeboran Proyek Ijen dengan spesifik namun dengan
harga kontrak AS$18,48 juta. target penyelesaian Mei
2024.
EPI agreed to provide Drilling rig services
on drilling for the Ijen Project for a contract Not specifically mentioned
price of USD18.48 million. with the target finalization in
May 2024.
PT Halliburton 17 Januari 2023 / Halliburton sepakat untuk menyediakan Tidak disebutkan secara
Logging Services January 17, 2023 jasa operasi pengeboran, perekayasaan spesifik.
Indonesia dan pendukungnya dengan nilai kontrak
(“Halliburton”) sebesar AS$10,7juta Not specifically mentioned.
Halliburton agreed to provide drilling
operations, engineering and support
services for a contract value of
US$10.7million.
PT Scientific Drilling 17 Januari 2023 / SDII sepakat untuk menyediakan jasa Tidak disebutkan secara
International January 17, 2023 operasi pengeboran, perekayasaan dan spesifik.
Indonesia (“SDII”) pendukungnya dengan nilai kontrak
sebesar AS$9,7juta Not specifically mentioned.
SDII agreed to provide drilling operations,
engineering and support services for a
contract value of US$9.7million.
138
Page 288
2025 Management Business Company Corporate Sustainability
286 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued)
viii. Lain-lain viii. Others
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Power Indonesia
Mitsui Energy 29 Juni 2023/ MPI setuju untuk membentuk suatu Perjanjian Konsorsium ini
Development Co., June 29, 2023 konsorsium untuk melaksanakan bersama akan berlaku sejak tanggal
Ltd. (dahulu/formerly kegiatan Penugasan Survei Pendahuluan 29 Juni 2023 sampai
Mitsui Oil dan Eksplorasi ("PSPE") dari Pemerintah dengan waktu mana yang
Exploration Co., dan bergantung pada keberhasilan terjadi terlebih dahulu;
Ltd.) pengeboran eksplorasi. Para pihak akan berlakunya Izin Panas Bumi
memiliki dan mengembangkan bersama untuk wilayah kerja Bonjol
Proyek Panas Bumi Bonjol, yang berlokasi diberikan dari Kementerian
di Provinsi Sumatera Barat, Indonesia. Energi dan Sumber Daya
Mineral Indonesia
MPI agreed to form a consortium to jointly ("Kementerian ESDM") atau
carry out the government's Preliminary perjanjian diakhiri
Survey and Exploration Assignment berdasarkan kesepakatan
activities and contingently on the success of bersama.
exploration drilling. The parties will jointly
own and develop the Bonjol Geothermal This Consortium Agreement
Project, located in West Sumatra Province, will be effective from June
Indonesia. 29, 2023 whichever occurs
first; until Geothermal
permits for the Bonjol
working area are granted
from the Indonesian Ministry
of Energy and Mineral
Resources ("Ministry of
Energy and Mineral
Resources") or the
agreement is terminated
based on mutual
agreement, which ever
occurs first.
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN AND POLICIES
Risiko utama yang timbul dari instrumen keuangan The main risks arising from the Group‘s financial
Grup adalah risiko suku bunga, risiko fluktuasi nilai instruments are interest rate risk, foreign currency
tukar mata uang asing, risiko kredit dan risiko risk, credit risk and liquidity risk. The Board of
likuiditas. Direksi Perusahaan menelaah dan Directors reviews and approves the policies for
menyetujui kebijakan untuk mengelola risiko-risiko managing each of these risks which are
yang dirangkum di bawah ini: summarized below:
a. Risiko suku bunga a. Interest rate risk
Risiko suku bunga adalah risiko dimana nilai Interest rate risk is the risk that the fair value
wajar atau arus kas masa datang dari suatu or future cash flows of a financial instrument
instrumen keuangan akan berfluktuasi akibat will fluctuate because of the changes in
perubahan suku bunga dan akan berdampak interest rates and will have a negative impact
negatif terhadap kinerja keuangan on the financial performance of the Company
Perusahaan dan Entitas Anaknya. Perusahaan and its Subsidiaries. The Company and its
dan Entitas Anaknya memiliki risiko tingkat Subsidiaries have interest rate risk which
suku bunga yang terutama berasal dari mainly originates from movements in interest
pergerakan suku bunga pinjaman bank rates on bank loans with floating interest rates.
dengan tingkat suku bunga mengambang.
Untuk mengelola risiko suku bunga, Grup To manage interest rate risk, the Group
melakukan kontrak Pertukaran Tingkat Suku undertakes Interest Rate Swaps contracts.
Bunga. Kontrak ini dicatat sebagai transaksi The contracts are recorded as a transaction
yang ditetapkan sebagai lindung nilai, dimana designated as a hedge, where the gain or loss
keuntungan atau kerugian yang timbul dari arising from the effective portion of the cash
bagian efektif lindung nilai atas arus kas flow hedge is credited or charged to other
dikreditkan atau dibebankan di pendapatan comprehensive income.
komprehensif lain.
139
Page 289
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 287
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
a. Risiko suku bunga (lanjutan) a. Interest rate risk (continued)
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, had the
jika tingkat suku bunga pinjaman lebih interest rate of the loans been 100 basis points
meningkat/menurun 100 basis poin dengan higher/lower with all other variables held
semua variabel lain konstan, laba constant, profit before income tax expense for
konsolidasian sebelum pajak penghasilan 2025 and 2024 would have been
untuk tahun 2025 dan 2024 masing-masing Rp50,744,233,318 and Rp20,772,085,239,
akan menjadi Rp50.744.233.318 dan respectively, lower/higher, mainly as a result of
Rp20.772.085.239, lebih rendah/lebih tinggi, higher/lower interest expense on loans with
terutama sebagai akibat dari beban bunga floating interest rates.
yang lebih tinggi/lebih rendah pada pinjaman
dengan suku bunga mengambang.
b. Risiko fluktuasi nilai tukar mata uang asing b. Foreign currency risk
Risiko mata uang asing adalah risiko bahwa Foreign currency risk is the risk that the fair
nilai wajar atau arus kas masa depan dari value or future cash flows of a financial
suatu instrumen keuangan dalam mata uang instrument denominated in foreign currency
asing akan berfluktuasi karena perubahan nilai will fluctuate because of changes in exchange
tukar. Perusahaan dan sebagian entitas anak rates. Functional currency of the Company
memiliki mata uang fungsional Rupiah. and certain Subsidiaries is Rupiah. While,
Namun, beberapa entitas anak lain memiliki functional currency of the the other
mata uang fungsional Dolar AS. subsidiaries is US Dollar.
Perusahaan dan entitas anak terkena risiko The Company and subsidiaries are exposed to
valuta asing karena pembelian dan beban foreign exchange risk due to certain purchases
tertentu dalam mata uang yang berbeda dari and expenses denominated in a currency
mata uang fungsionalnya. Sebagian besar different from their functional currency. Most
entitas anak telah memiliki lindung nilai secara subsidiaries have a natural hedge because
alami karena memiliki penghasilan, beban they have revenues, principal expenses and
utama dan pembiayaan dalam mata uang financing in the same currency.
yang sama.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024 had the
jika nilai tukar Dolar AS terhadap Rupiah exchange rate of the US Dollar against the
depresiasi/apresiasi sebesar 10% dengan Rupiah depreciated/appreciated by 10% with
semua variabel lain dianggap konstan, laba all other variables held constant, profit before
sebelum pajak penghasilan untuk tahun 2025 income tax for 2025 and 2024 would have
dan 2024 masing-masing akan menjadi been Rp492,396,100,000 and
Rp492.396.100.000 dan Rp389.690.400.000, Rp389,690,400,000 lower/higher, respectively,
lebih rendah/lebih tinggi, terutama sebagai mainly as a result of foreign exchange losses/
akibat dari kerugian/keuntungan selisih kurs gains on the remeasurement of cash and cash
atas pengukuran kembali kas dan setara kas, equivalents, trade receivable, other
piutang usaha, piutang lain-lain, utang usaha, receivables, trade payables, other payables,
utang lain-lain, dan biaya yang masih harus and accrued expenses denominated in US
dibayar dalam mata uang Dolar AS dan Euro. Dollars and Euro.
c. Risiko kredit c. Credit risk
Risiko kredit mengacu pada risiko bahwa Credit risk refers to the risk that a counterparty
counterparty akan gagal memenuhi kewajiban will default on its contractual obligations
kontraktualnya yang mengakibatkan kerugian resulting in financial loss to the Group. The
finansial bagi Grup. Grup memiliki konsentrasi Group concentration of credit risk receivables
risiko kredit atas piutang karena sebagian because the majority of the Group’s revenue is
besar pendapatan Grup adalah dari PT PLN from PT PLN (Persero) and its subsidiaries in
(Persero) dan entitas anaknya sesuai dengan accordance with Power Purchase Agreement
Perjanjian Pembelian Tenaga Listrik atau or Operation and Maintenance contracts.
kontrak Operasi dan Pemeliharaan. Management believes in controlling and
Manajemen berkeyakinan untuk maintaining minimal exposure to credit risk
mengendalikan dan mempertahankan considering that the Group has a legally
eksposur yang minimal dari risiko kredit binding agreement with PLN, where PLN is a
mengingat bahwa Grup memiliki perjanjian state-owned entity with an "investment grade"
yang mengikat secara hukum dengan PLN, rating.
yang mana PLN merupakan entitas Badan
Usaha Milik Negara dengan peringkat
"investment grade".
140
Page 290
2025 Management Business Company Corporate Sustainability
288 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
c. Risiko kredit (lanjutan) c. Credit risk (continued)
Grup memiliki konsentrasi risiko kredit atas The Group has a credit risk concentration on
kas dan bank karena pada tanggal 31 cash and cash equivalents because as of
Desember 2025, Grup memiliki kas di bank December 31, 2025, the Group had cash in
dan deposito berjangka disimpan di PT Bank banks and time deposits held at PT Bank
Mandiri (Persero) Tbk yang merupakan 39% Mandiri (Persero) Tbk which constituted 39%
dari total kas dan setara kas dan deposito of total cash and cash equivalents (2024: PT
berjangka (2024: PT Bank Woori Saudara Bank Woori Saudara Indonesia 1906 Tbk
Indonesia 1906 Tbk sebesar 63%). around 63%).
Sehubungan dengan rekening bank dan With respect to cash in banks and time
deposito berjangka yang ditempatkan pada deposits maintained with financial institutions,
lembaga keuangan, Grup bertransaksi hanya the Group transacts only with financially sound
dengan lembaga keuangan yang sehat. Risiko financial institutions. Credit risk arising from
kredit yang timbul dari aset keuangan lainnya the other financial assets relates to the
terkait dengan eksposur Grup terhadap Group’s exposure to losses from the possible
kerugian dari kemungkinan default dari pihak default of the counterparties such as their
rekanan seperti pelanggan mereka dan pihak customers and related parties.
terkait.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
risiko kredit maksimum Grup adalah sebesar Group maximum exposure to credit risk is
nilai tercatat aset keuangannya terutama equivalent to the carrying values of their
terdiri dari kas dan setara kas, rekening bank financial assets mainly consisting of cash and
dan deposito berjangka yang dibatasi cash equivalents, restricted cash in banks and
penggunaannya, piutang usaha, piutang lain- time deposits, trade receivables, other
lain, keuangan piutang sewa pembiayaan dan receivables, finance lease receivables and
aset keuangan konsesi yang disajikan sebagai concession financial assets that is presented
“Aset Tidak Lancar Lainnya” pada laporan as “Other Non-current Assets” in the
posisi keuangan konsolidasian. consolidated statement of financial position.
d. Risiko likuiditas d. Liquidity risk
Risiko likuiditas adalah risiko bahwa Grup Liquidity risk is the risk that the Group will not
tidak akan dapat menyelesaikan semua be able to settle all liabilities as they fall due.
kewajiban pada saat jatuh tempo. Grup The Group manages this risk through
mengelola risiko ini melalui pemantauan arus monitoring of cash flows in consideration of
kas dengan mempertimbangkan pembayaran future liability payments and receivables
kewajiban dan penagihan piutang di masa collection,as well as, availability of financing.
mendatang, serta ketersediaan pendanaan. Currently, the Group depends on its related
Grup memantau dan mempertahankan tingkat parties for its funding requirements. The Group
kas di bank yang dianggap memadai untuk monitors and maintains a level of cash and
membiayai operasinya. Grup juga secara cash equivalents deemed adequate to finance
teratur mengevaluasi arus kas yang its operations. The Group also regularly
diproyeksikan dan aktual. evaluates the projected and actual cash flows.
141
Page 291
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 289
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
d. Risiko likuiditas (lanjutan) d. Liquidity risk (continued)
Tabel di bawah ini menyajikan periode jatuh The following table sets out the maturity profile
tempo liabilitas keuangan Grup termasuk of the Group's financial liabilities, including
bunga di masa depan, (dalam jutaan rupiah) future interest, (in millions of rupiah) based on
berdasarkan pembayaran kontraktual yang contractual undiscounted payments:
tidak didiskontokan:
2025
Dalam 1 Lebih dari
tahun/ 5 tahun/
Within 1 1-2 tahun/ 2-3 tahun/ 3-4 tahun/ 4-5 tahun/ More than Total/
year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total
Pinjaman bank Short term bank
jangka pendek 50.000 - - - - - 50.000 loan
Utang usaha 138.917 - - - - - 138.917 Trade payable
Utang lain-lain 1.249.496 69.292 - - - - 1.318.788 Other payables
Liabilitas kontrak 16.793 16.793 16.793 14.460 1.805 - 66.644 Contract liability
Beban akrual 747.918 147.024 4.290 4.483 4.685 88.937 997.337 Accrued expenses
Utang kepada Due to related
pihak berelasi - 28.454 - - - - 28.454 parties
Liabilitas sewa 14.273 14.441 13.207 12.709 670 4.178 59.478 Lease liabilities
Pinjaman jangka
panjang Long-term debt
Pokok 609.254 605.327 698.865 853.799 410.202 4.214.735 7.392.182 Principal
Bunga 496.082 458.034 408.273 359.129 299.075 486.541 2.507.134 Interest
Pinjaman jangka Other long-term
panjang lainnya debt
Pokok 10.300 526.305 125.035 494.490 1.116.955 487.525 2.760.610 Principal
Bunga 253.048 251.614 203.583 194.255 147.278 48.091 1.097.869 Interest
2024
Dalam 1 Lebih dari
tahun/ 5 tahun/
Within 1 1-2 tahun/ 2-3 tahun/ 3-4 tahun/ 4-5 tahun/ More than Total/
year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total
Pinjaman bank Short term bank
jangka pendek 883.930 - - - - - 883.930 loan
Utang usaha 260.863 - - - - - 260.863 Trade payable
Utang lain-lain 950.930 60.021 - - - - 1.010.951 Other payables
Liabilitas kontrak 8.396 8.396 8.396 8.396 6.065 - 39.649 Contract liability
Beban akrual 418.497 3.942 3.954 4.132 4.318 69.612 504.455 Accrued expenses
Utang kepada Due to related
pihak berelasi - 18.402 - - - - 18.402 parties
Liabilitas sewa 5.994 4.567 4.093 2.333 1.467 4.006 22.460 Lease liabilities
Pinjaman jangka
panjang Long-term debt
Pokok 340.931 395.673 354.095 713.218 684.745 3.815.829 6.304.491 Principal
Bunga 376.547 346.874 294.863 268.550 219.464 1.887.387 3.393.685 Interest
Pinjaman jangka Other long-term
panjang lainnya debt
Pokok 1.050.690 186.295 350.310 494.490 - 79.515 2.161.300 Principal
Bunga 175.661 103.895 79.316 57.395 7.952 8.344 432.563 Interest
142
Page 292
2025 Management Business Company Corporate Sustainability
290 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
e. Manajemen modal e. Capital management
Tujuan Grup dalam mengelola modal adalah The Group objectives when managing capital
untuk memelihara struktur permodalan yang are to maintain a strong capital base and to
kuat dan mempertahankan pengembangan sustain future development of the business.
bisnis yang berkelanjutan di masa depan.
Grup secara teratur meninjau dan mengelola The Group regularly reviews and manages
struktur permodalannya untuk memastikan their capital structure to ensure optimal
struktur modal dan pengembalian pemegang structure and shareholder returns, taking into
saham yang optimal, dengan consideration the future capital requirements
mempertimbangkan kebutuhan modal masa of the Group and capital efficiency, prevailing
depan Grup dan efisiensi modal, profitabilitas and projected profitability, operating cash
yang berlaku dan terproyeksi, arus kas flows, capital expenditures and strategic
operasi, belanja modal dan strategi peluang investment opportunities.
investasi.
Manajemen menganggap total ekuitas sebagai Management regards total equity as capital for
modal untuk tujuan manajemen modal. Pada capital management purposes. As of
tanggal 31 Desember 2025, termasuk di December 31, 2025, including capital
dalamnya, modal yang dapat diatribusikan attributable to owners of the parent company
kepada pemilik entitas induk, sebesar amounted to Rp3,776,842,108,282 which
Rp3.776.842.108.282 telah dianggap optimal amount is considered optimal by the
oleh manajemen, setelah memperhitungkan management, after taking into account, the
proyeksi belanja modal dan peluang investasi projected capital expenditures and strategic
strategis. investment opportunities.
Tidak ada perubahan dalam pendekatan Grup There are no changes in the Group’s approach
terhadap pengelolaan modal sepanjang tahun. to the capital management during the year.
f. Perubahan Liabilitas yang Timbul dari Aktivitas f. Changes in Liabilities Arising from Financing
Pendanaan Activities
Tabel di bawah ini menyajikan perubahan The following table sets out the changes of the
liabilitas keuangan Grup yang timbul dari Group’s financial liabilities arising from
aktivitas pendanaan (dalam jutaan rupiah): financing activities (in millions of rupiah):
2025
Biaya yang
Valuta Belum
Asing/ Diamortisasi/
1 Januari/ Arus Kas/ Foreign Unamortized Reklasifikasi/ 31 Desember/
January 1 Cash flows Exchange cost Reclassification December 31
Porsi jangka pendek
atas: Current maturities of:
Liabilitas sewa 5.994 (20.435) - - 28.714 14.273 Lease liabilities
Pinjaman jangka
panjang 340.931 (1.664.702) - - 1.933.025 609.254 Long-term debt
Pinjaman jangka
panjang lainnya 1.050.690 (1.050.690) - - 10.300 10.300 Other long-term debt
Porsi jangka panjang
atas: Non-current portion of:
Liabilitas sewa 16.465 - 97 57.357 (28.714) 45.205 Lease liabilities
Pinjaman jangka
panjang 5.602.346 2.546.084 192.721 7.082 (1.933.025) 6.415.208 Long-term debt
Pinjaman jangka
panjang lainnya 1.100.892 1.650.000 - (8.617) (10.300) 2.731.975 Other long-term debt
Total liabilitas dari Total liabilities from
aktivitas pendanaan 8.117.318 1.460.257 192.818 55.822 - 9.826.215 financing activities
143
Page 293
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 291
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
f. Perubahan Liabilitas yang Timbul dari Aktivitas f. Changes in Liabilities Arising from Financing
Pendanaan (lanjutan) Activities (continued)
Tabel di bawah ini menyajikan perubahan The following table sets out the changes of the
liabilitas keuangan Grup yang timbul dari Group’s financial liabilities arising from
aktivitas pendanaan (dalam jutaan rupiah): financing activities (in millions of rupiah):
(lanjutan) (continued)
2024
Biaya yang
Valuta Belum
Asing/ Diamortisasi/
1 Januari/ Arus Kas/ Foreign Unamortized Reklasifikasi/ 31 Desember/
January 1 Cash flows Exchange cost Reclassification December 31
Porsi jangka pendek
atas: Current maturities of:
Liabilitas sewa 16.659 (20.000) - - 9.335 5.994 Lease liabilities
Pinjaman jangka
panjang 1.199.367 (1.818.749) - - 960.313 340.931 Long-term debt
Pinjaman jangka
panjang lainnya 7.000 (7.000) - - 1.050.690 1.050.690 Other long-term debt
Porsi jangka panjang
atas: - Non-current portion of:
Liabilitas sewa 13.558 - 527 11.715 (9.335) 16.465 Lease liabilities
Pinjaman jangka
panjang 3.788.957 2.201.956 161.700 410.046 (960.313) 5.602.346 Long-term debt
Pinjaman jangka
panjang lainnya 1.402.658 750.000 - (1.076) (1.050.690) 1.100.892 Other long-term debt
Total liabilitas dari Total liabilities from
aktivitas pendanaan 6.428.199 1.106.207 162.227 420.685 - 8.117.318 financing activities
40. INSTRUMEN KEUANGAN 40. FINANCIAL INSTRUMENTS
. .
Nilai wajar Fair values
Grup menggunakan hierarki berikut untuk The Group use the following hierarchy for
menentukan dan mengungkapkan nilai wajar dari determining and disclosing the fair value of financial
instrumen keuangan dengan teknik penilaian: instruments by valuation technique:
Tingkat 1: harga yang telah ditentukan (yang Level 1: quoted (unadjusted) prices in active
belum disesuaikan) di pasar aktif markets for identical assets or liabilities
untuk aset dan liabilitas yang identik
Tingkat 2: teknik lainnya dimana semua masukan Level 2: other techniques for which all inputs
yang memiliki efek yang signifikan which have a significant effect on the
terhadap nilai wajar tercatat dapat recorded fair value are observable,
diobservasi, baik secara langsung either directly or indirectly
maupun tidak langsung
Tingkat 3: teknik yang menggunakan masukan Level 3: techniques which use inputs which
yang memiliki efek signifikan terhadap have a significant effect on the
nilai wajar tercatat yang tidak recorded fair value that are not based
berdasarkan data pasar yang dapat on observable market data
diobservasi
Pada tanggal 31 Desember 2025 dan 2024, semua As of December 31, 2025 and 2024, all the fair
nilai wajar dari instrumen keuangan telah values of financial instruments were determined
ditentukan menggunakan teknik penilaian tingkat using level three (3) valuation technique, except for
tiga (3), kecuali untuk aset derivatif dimana derivative assets whereby the fair values were
ditentukan dengan menggunakan teknik penilaian determined using level two (2) valuation technique.
tingkat dua (2). Tidak ada pemindahan antara There were no transfers between level two (2) and
pengukuran nilai wajar tingkat dua (2) dan tingkat level three (3) fair value measurements.
tiga (3).
144
Page 294
2025 Management Business Company Corporate Sustainability
292 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
40. INSTRUMEN KEUANGAN (lanjutan) 40. FINANCIAL INSTRUMENTS (continued)
. .
Pada tanggal 31 Desember 2025 dan 2024, rincian As of December 31, 2025 and 2024, the details of
dari aset dan liabilitas keuangan Grup adalah the Group’s financial assets and liabilities are as
sebagai berikut: follows:
Aset dan liabilitas keuangan lancar Current financial assets and liabilities
Aset dan liabilitas keuangan lancar Grup terdiri dari The Group’s current financial assets and liabilities
kas dan setara kas, piutang usaha, piutang lain- consist of cash and cash equivalents, trade
lain, rekening bank dan deposito berjangka yang receivables, other receivables, restricted cash in
dibatasi penggunaannya, piutang sewa banks and time deposits, current maturities of
pembiayaan yang jatuh tempo dalam waktu satu finance lease receivables, current maturities of
tahun, aset derivatif yang jatuh tempo dalam satu derivative assets, current maturities of concession
tahun, aset keuangan konsesi yang jatuh tempo financial assets, trade payables, other payables,
dalam waktu satu tahun, utang usaha, utang lain- current maturities of accrued expenses, current
lain, beban akrual yang jatuh tempo dalam waktu maturities of due to related parties, current
satu tahun, utang kepada pihak berelasi yang jatuh maturities of lease liabilities, current maturities of
tempo dalam waktu satu tahun, pinjaman bank other long-term debt and current maturities of long-
jangka pendek, liabilitas sewa yang jatuh tempo term debt. The carrying values of the Group’s
dalam pinjaman jangka satu tahun, pinjaman current financial assets and liabilities approximate
jangka panjang lainnya yang jatuh tempo dalam their fair values due to the short-term maturity of
satu tahun dan pinjaman jangka panjang yang jatuh these financial assets and liabilities.
tempo dalam satu tahun. Nilai tercatat aset dan
liabilitas keuangan lancar Grup mendekati nilai
wajar karena sifat dasar jangka pendek dari akun
aset dan liabilitas keuangan.
Aset dan liabilitas keuangan tidak lancar Non-current financial assets and financial liabilities
Perbandingan jumlah tercatat dan nilai wajar aset A comparison of the carrying amounts and fair
dan liabilitas keuangan tidak lancar pada tanggal 31 values of non-current financial assets and liabilities
Desember 2025 dan 2024 adalah sebagai berikut: as of December 31, 2025 and 2024 are as follows:
2025
Nilai Tercatat/ Nilai Wajar/
Carrying Values Fair Values
Aset keuangan Financial assets
Aset keuangan konsesi 9.317.867.477.124 10.072.468.505.715 Concession financial assets
Piutang lain-lain - pihak ketiga 224.999.483.708 224.999.483.708 Other receivables - third parties
Piutang sewa pembiayaan 2.627.559.524.359 3.727.445.956.106 Finance lease receivables
Aset derivatif 290.373.396.025 290.373.396.025 Derivative assets
Investasi jangka panjang 57.615.292.313 57.615.292.313 Long-term investments
Liabilitas keuangan Financial liabilities
Utang lain-lain 69.292.188.853 69.292.188.853 Other payables
Beban akrual 249.419.441.840 249.419.441.840 Accrued expenses
Utang kepada pihak berelasi 28.454.147.029 28.454.147.029 Due to related parties
Liabilitas sewa 45.204.529.262 45.204.529.262 Lease liabilities
Pinjaman jangka panjang 6.415.207.905.800 6.415.207.905.800 Long-term debt
Pinjaman jangka panjang lainnya 2.731.975.104.622 2.731.975.104.622 Other long-term debt
145
Page 295
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 293
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
40. INSTRUMEN KEUANGAN (lanjutan) 40. FINANCIAL INSTRUMENTS (continued)
Aset dan liabilitas keuangan tidak lancar (lanjutan) Non-current financial assets and financial liabilities
(continued)
Perbandingan jumlah tercatat dan nilai wajar aset A comparison of the carrying amounts and fair
dan liabilitas keuangan tidak lancar pada tanggal 31 values of non-current financial assets and liabilities
Desember 2025 dan 2024 adalah sebagai berikut: as of December 31, 2025 and 2024 are as follows:
(lanjutan) (continued)
2024
Nilai Tercatat/ Nilai Wajar/Fair
Carrying Values Values
Aset keuangan Financial assets
Aset keuangan konsesi 8.846.237.824.779 9.340.258.315.287 Concession financial asset
Piutang lain-lain - pihak ketiga 121.470.076.800 121.470.076.800 Other receivables - third parties
Piutang sewa pembiayaan 1.153.322.351.850 1.406.763.043.928 Finance lease receivables
Aset derivatif 361.529.964.880 361.529.964.880 Derivative assets
Investasi jangka panjang 67.337.450.000 67.337.450.000 Long-term investments
Liabilitas keuangan Financial liabilities
Utang lain-lain 60.020.869.805 60.020.869.805 Other payables
Beban akrual 85.958.175.600 85.958.175.600 Accrued expenses
Utang kepada pihak berelasi 18.401.581.396 18.401.581.396 Due to related parties
Liabilitas sewa 16.465.366.672 16.465.366.672 Lease liabilities
Pinjaman jangka panjang 5.602.345.504.172 5.602.345.504.172 Long-term debt
Pinjaman jangka panjang lainnya 1.100.892.401.635 1.100.892.401.635 Other long-term debt
Nilai tercatat atas pinjaman jangka panjang dan The carrying values of long-term debt and other
pinjaman jangka panjang lainnya mendekati nilai long-term debt approximate their fair values
wajarnya karena suku bunga dari pinjaman tersebut because the interest rates of such loans generally
umumnya bergerak sesuai dengan tingkat bunga move in line with the prevailing market interest
pasar yang berlaku. rates.
Nilai wajar dari piutang lain-lain, aset keuangan Fair values of other receivables, concession
konsesi, utang lain-lain, beban akrual diestimasi financial asset, other payables, accrued expense
menggunakan diskonto arus kas. Nilai wajar atas are estimated using a discounted cash flow model.
aset derivatif diestimasi berdasarkan teknik The fair value of the derivative assets are estimated
penilaian yang wajar dengan input pasar yang using appropriate valuation techniques with
dapat diobservasi. Investasi jangka panjang adalah observable market inputs. The long-term
investasi ekuitas tidak tercatat dengan pendekatan investment is a non-listed equity investment that is
nilai wajar. carried at fair value approach.
146
Page 296
2025 Management Business Company Corporate Sustainability
294 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
41. INFORMASI SEGMEN 41. SEGMENT INFORMATION
Grup mengklasifikasikan dan mengevaluasi The Group classifies and evaluates its financial
informasi keuangan mereka menjadi pelaporan information into reportable operating segments
segmen operasi yang dikelompokkan menjadi lima which are grouped into five (5) strategic business
(5) kelompok bisnis strategis: groups:
Segmen Operasi Operating Segments
Grup bergerak di bidang usaha sebagai The Group is engaged in the following
berikut: business activities:
i. IPP Gas i. Gas IPP
ii. IPP Panas Bumi ii. Geothermal IPP
iii. IPP Hidro dan energi terbarukan iii. Hydro IPP and other renewables
iv. Operasi dan pemeliharaan iv. Operation and maintenance
v. Holding dan operasi terkait v. Holding and related operation
2025 (Dalam jutaan rupiah/in million rupiah)
IPP Hidro Holding dan
dan Energi operasional
IPP Panas terbarukan/ Operasi dan terkait/
Bumi/ Hydro IPP pemeliharaan/ Holding and
IPP Gas/ Geothermal and other Operation and related Eliminasi/ Konsolidasi/
Gas IPP IPP renewables maintenance operations Elimination Consolidation
Penjualan eksternal/ External sales 1.601.571 492.755 201.444 467.432 168.783 - 2.931.985
Penjualan antar segmen/
Intersegment sales 22.155 - - 124.019 65.071 (211.245) -
Total pendapatan/ Total revenues 1.623.726 492.755 201.444 591.451 233.854 (211.245) 2.931.985
Laba bruto/
Gross profit 617.262 296.819 70.799 369.579 158.125 (23.056) 1.489.528
Beban operasional/Operational
expenses (260.432) (61.631) (27.737) (210.406) (198.676) 75.377 (683.505)
Bagian laba dari ventura bersama
dan asosiasi/
Share in net profit of joint venture
and associate - - - - 60.847 - 60.847
Beban pendanaan/Finance costs (260.645) (120.091) (9.298) (314) (402.023) (11) (792.382)
Laba (rugi) tahun berjalan/Profit
(loss) for the year 159.642 91.747 47.856 132.705 239.298 (428.107) 243.141
ASET
Aset segmen/
ASSET
Segment assets 9.934.314 4.780.887 947.114 525.073 12.774.775 (8.616.670) 20.345.493
Investasi jangka panjang/
Long-term investments - - - - 2.610.830 - 2.610.830
LIABILITAS
Liabilitas segmen/
LIABILITIES
Segment liabilities 5.824.381 3.616.328 1.217.835 243.209 7.775.777 (5.296.141) 13.381.389
147
Page 297
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 295
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
41. INFORMASI SEGMEN (lanjutan) 41. SEGMENT INFORMATION (continued)
. .
2024 (Dalam jutaan rupiah/in million rupiah)
IPP Hidro Holding dan
dan Energi operasional
IPP Panas terbarukan/ Operasi dan terkait/
Bumi/ Hydro IPP pemeliharaan/ Holding and
IPP Gas/ Geothermal and other Operation and related Eliminasi/ Konsolidasi/
Gas IPP IPP renewables maintenance operations Elimination Consolidation
Penjualan eksternal/ External sales 1.285.396 1.307.144 216.660 435.380 26.722 - 3.271.302
Penjualan antar segmen/
Intersegment sales 19.053 - - 46.122 61.703 (126.878) -
Total pendapatan/ Total revenues 1.304.449 1.307.144 216.660 481.502 88.425 (126.878) 3.271.302
Laba bruto/
Gross profit 579.286 267.602 45.831 272.000 76.128 (47.053) 1.193.794
Beban operasional/Operational
expenses (214.692) (30.921) (30.074) (176.301) (224.613) 66.438 (610.163)
Bagian laba dari ventura bersama
dan asosiasi/
Share in net profit of joint venture
and associate - - - - 43.602 - 43.602
Beban pendanaan/Finance costs (252.439) (133.951) (2.993) (91) (297.390) 9 (686.855)
Laba (rugi) tahun berjalan/Profit
(loss) for the year 132.771 91.080 (96.435) 79.117 (52.844) (262.078) (108.389)
ASET
Aset segmen/
ASSET
Segment assets 9.086.958 4.205.788 763.661 458.178 11.369.805 (7.472.758) 18.411.632
Investasi jangka panjang/
Long-term investments - - - - 2.522.867 - 2.522.867
LIABILITAS
Liabilitas segmen/
LIABILITIES
Segment liabilities 5.335.591 3.174.040 1.082.398 199.762 6.598.310 (4.623.385) 11.766.716
42. ASET DAN LIABILITAS MONETER DALAM 42. MONETARY ASSETS AND LIABILITIES
MATA UANG ASING DENOMINATED IN FOREIGN CURRENCIES
Grup memiliki aset dan liabilitas moneter dalam The Group has monetary assets and liabilities
mata uang asing dengan rincian sebagai berikut: denominated in foreign currencies as follows:
2025
Dalam mata uang aslinya (dalam satuan penuh)/ Setara Rupiah
In original currency (full amount) (dalam jutaan)/
Rupiah
AS$/ Euro/ Lain-lain/ Equivalent
US$ Euro Others (in million)
Aset Assets
Kas dan setara kas 77.110.102 - - 1.294.062 Cash and cash equivalents
Rekening dan deposito bank
yang dibatasi Restricted time deposits and
penggunaannya 1.350.969 - - 22.672 cash in banks
Trade receivables - third
Piutang usaha - pihak ketiga 14.167.938 - - 237.766 parties
Piutang lain-lain - pihak Other receivables - related
berelasi 2.554.000 - 1.799.680 66.380 parties
Other receivables - third
Piutang lain-lain - pihak ketiga 6.121.993 568.230 - 113.964 parties
Liabilitas Liabilities
Utang usaha - pihak ketiga (5.174.558) - (8.093) (86.945) Trade payables - third parties
Beban akrual (24.168.326) - - (405.593) Accrued expenses
Pinjaman jangka panjang (367.433.363) - - (6.166.267) Long-term debt
Liabilitas Neto (295.471.245) 568.230 1.791.587 (4.923.961) Net Liabilities
148
Page 298
2025 Management Business Company Corporate Sustainability
296 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
42. ASET DAN LIABILITAS MONETER DALAM 42. MONETARY ASSETS AND LIABILITIES
MATA UANG ASING (lanjutan) DENOMINATED IN FOREIGN CURRENCIES
(continued)
Grup memiliki aset dan liabilitas moneter dalam The Group has monetary assets and liabilities
mata uang asing dengan rincian sebagai berikut: denominated in foreign currencies as follows:
(lanjutan) (continued)
2024
Dalam mata uang aslinya (dalam satuan penuh)/ Setara Rupiah
In original currency (full amount) (dalam jutaan)/
Rupiah
AS$/ Euro/ Lain-lain/ Equivalent
US$ Euro Others (in million)
Aset Assets
Kas dan setara kas 59.274.761 - - 958.009 Cash and cash equivalents
Piutang usaha - pihak ketiga 13.852.672 - - 319.412 Trade receivables - third parties
Piutang lain-lain - pihak Other receivables - related
berelasi 149.413 - - 2.415 parties
Piutang lain-lain - pihak ketiga 1.798.516 568.230 459 40.880 Other receivables - third parties
Liabilitas Liabilities
Utang usaha - pihak ketiga (3.538.245) 220 - (109.656) Trade payables - third parties
Beban akrual - - - - Accrued expenses
Pinjaman jangka panjang (316.811.485) - - (5.120.373) Long-term debt
Liabilitas Neto (245.274.368) 568.450 459 (3.909.313) Net Liabilities
43. LABA (RUGI) PER SAHAM 43. EARNING (LOSS) PER SHARE
Laba (rugi) per saham dasar dihitung dengan Basic earning (loss) per share amounts are
membagi rugi tahun berjalan yang dapat computed by dividing loss for the year attributable
diatribusikan kepada pemilik entitas induk dengan to equity holders of the parent company by the
rata-rata tertimbang jumlah saham yang beredar weighted average number of ordinary shares
pada tahun yang bersangkutan. outstanding during the year.
Pada tanggal 31 Desember 2025 dan 2024, jumlah As of December 31, 2025 and 2024, total weighted
saham berdasarkan rata-rata tertimbang saham average of number ordinary shares outstanding for
yang beredar untuk tujuan perhitungan laba per earning per shares calculation amounting to
saham dasar masing-masing sebanyak 1,100,000,000.
1.100.000.000.
2025 2024
Laba (rugi) yang dapat
diatribusikan kepada pemilik Profit (loss) attributable to equity
entitas induk 17.191.338.200 (262.932.690.349) holder of the parent company
Total rata-rata tertimbang saham The weighted average number of
biasa yang beredar 1.100.000.000 1.100.000.000 outstanding shares
Laba (rugi) per saham dasar 15,63 (239,03) Basic earnings (loss) per share
149
Page 299
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 297
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
44. CATATAN ATAS LAPORAN ARUS KAS 44. NOTES TO THE CONSOLIDATED STATEMENT
KONSOLIDASIAN OF CASH FLOWS
Rincian pengungkapan tambahan aktivitas non-kas The details of supplemental disclosure of non-cash
adalah sebagai berikut: activities are as follows:
2025 2024
Additions to property, plant and
Penambahan aset tetap dari utang equipment from payable and
dan pinjaman 3.084.833.028 502.394.139.511 loan
Penambahan aset keuangan Addition to concession financial
konsesi dari marjin konsesi 10.916.893.338 - assets from concession margin
Penambahan aset keuangan Additions to concession financial
konsesi dari utang dan pinjaman 207.325.402.782 1.044.937.608.333 assets from payable and loan
45. KONTINJENSI 45. CONTINGENCIES
PT Medco Ratch Power Riau PT Medco Ratch Power Riau
Novia Corry (Penggugat 1) dan Fenny Wong Novia Corry (Plaintiff 1) and Fenny Wong (Plaintiff
(Penggugat 2) mengajukan gugatan terhadap PT 2) filed a lawsuit against PT Lotte Engineering &
Lotte Engineering & Construction Co. Ltd (Tergugat Construction Co. Ltd (Defendant 1) and MRPR
1) dan MRPR (Tergugat 2) di Pengadilan Negeri (Defendant 2) at the South Jakarta District Court on
Jakarta Selatan atas dasar perbuatan melawan the basis of tort. The Plaintiffs claim to suffer loss
hukum. Para Penggugat mengklaim menderita due to dredging and excavation of landfill activities
kerugian akibat kegiatan pengerukan dan in Plaintiff’s land carried out by Defendant 1. The
penggalian di tanah Penggugat yang dilakukan oleh lawsuit claim to Defendant 1 is to pay
Tergugat 1. Gugatan terhadap Tergugat 1 adalah compensation in the amount of Rp10 billion while
ganti rugi sebesar Rp10 miliar sedangkan gugatan the lawsuit claim to Defendant 2 is to pay penalty in
terhadap Tergugat 2 adalah membayar denda the amount of Rp1 million for every day of delay in
sebesar Rp1 juta untuk setiap hari keterlambatan implementing the court decision.
dalam melaksanakan putusan pengadilan.
Pada 18 April 2023, Pengadilan Negeri On April 18, 2023, the District Court issued decision
mengeluarkan putusan di mana Tergugat 2 in which Defendant 2 is sentenced to pay court cost
dihukum membayar biaya perkara sebesar of Rp986,000 (nine hundred eighty six thousand of
Rp986.000 (sembilan ratus delapan puluh enam Rupiah).
ribu Rupiah).
Pada tanggal 26 Januari 2024, Pengadilan Tinggi On January 26, 2024, the Jakarta Hight Court
Jakarta menguatkan putusan Pengadilan Negeri. upholds the decision of District Court.
Pada 26 Februari 2024, MRPR telah mengajukan On February 26, 2024, MRPR has submitted a
kasasi ke Mahkamah Agung Republik Indonesia cassation to the Supreme Court of the Republic of
atas putusan Pengadilan Tinggi Jakarta. Indonesia on the Jakarta Hight Court decision.
Pada 16 Desember 2024, Mahkamah Agung On December 16, 2024, the Supreme Court of the
menolak permohonan kasasi atas putusan Republic Indonesia rejected the cassation of
Pengadilan Tinggi Jakarta dan menghukum MRPR Jakarta High Court Decision. and sentenced MRPR
untuk membayar biaya perkara sebesar Rp500.000 to pay court cost of Rp500,000 (five hundred
(lima ratus ribu rupiah). Grup menyatakan bahwa thousand of Rupiah). The Group states that the
kerugian terhadap MRPR hanya terbatas pada loss to MRPR is limited to the court cost charged,
biaya perkara yang dikenakan, oleh karena itu tidak therefore no further provision has been made for
ada provisi lebih lanjut yang dibukukan untuk this lawsuit in the consolidated financial statements.
gugatan ini dalam laporan keuangan konsolidasi.
150
Page 300
2025 Management Business Company Corporate Sustainability
298 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
46. PERISTIWA SETELAH TANGGAL PELAPORAN 46. EVENTS AFTER THE REPORTING PERIOD
i. Pada tanggal 8 Januari 2026, MPI melakukan i. On January 8, 2026, MPI has made early
pelunasan dipercepat atas hutang Bank BTN repayment of BTN Bank Loan
sebesar Rp126.000.000.000. Rp126,000,000,000.
ii. Pada tanggal 8 Januari 2026, MPI melakukan ii. On January 8, 2026, MPI has made principal
pelunasan atas hutang dari Bank Maybank repayment of Maybank loan
sebesar Rp50.000.000.000. Rp50,000,000,000.
iii. Pada tanggal 5 Maret 2026, MSBT melakukan iii. On March 5, 2026, MSBT withdrew a loan
penarikan pinjaman sebesar AS$470.244 dari amounting to US$470,244 from PT Bank
PT Bank Negara Indonesia (Persero) Tbk. Negara Indonesia (Persero) Tbk.
iv. Pada tanggal 10 Maret 2026, Pemegang iv. On March 10, 2026, the Company’s
Saham Perseroan telah menyetujui Shareholders approved an increase in the
peningkatan modal dasar sebesar Rp1,5 triliun authorized capital of Rp1.5 trillion and an
serta penyetoran modal saham sebesar equity injection of Rp102 billion, as resolved
Rp102 miliar, sebagaimana diputuskan dalam through a Circular Resolution in lieu of an
Keputusan Sirkuler sebagai Pengganti Rapat Extraordinary General Meeting of
Umum Pemegang Saham Luar Biasa Shareholders ("EGMS").
("RUPSLB").
v. Pada tanggal 11 Maret 2026, Perseroan telah v. On March 11, 2026, the Company received an
menerima setoran modal sebesar equity contribution amounting to
Rp102.000.000.000 melalui penerbitan Rp102,000,000,000 through the issuance of
102.000.000 saham baru dengan nilai nominal 102,000,000 new shares with a nominal value
Rp1.000 per saham, yang diambil bagian oleh of Rp1,000 per share, which were subscribed
pemegang saham eksisting secara proportionally by existing shareholders and did
proporsional dan tidak mengakibatkan not result in any change in the Company’s
perubahan struktur pengendalian Perseroan. control structure. As of the reporting date, the
Hingga tanggal laporan keuangan, aksi corporate action is still in the process of
korporasi tersebut masih dalam proses obtaining approval from the Ministry of Law
persetujuan Kementerian Hukum dan Hak and Human Rights of the Republic of
Asasi Manusia Republik Indonesia. Indonesia.
47. STANDAR AKUNTANSI YANG TELAH 47. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE
EFEKTIF
Standar akuntansi yang telah diterbitkan sampai The accounting standards that have been issued
tanggal penerbitan laporan keuangan konsolidasian up to the date of issuance of the Group’s
Grup, namun belum berlaku efektif diungkapkan consolidated financial statements, but not yet
berikut ini. Manajemen bermaksud untuk effective are disclosed below. The management
menerapkan standar yang dipertimbangkan relevan intends to adopt these standards that are
terhadap Grup pada saat standar tersebut berlaku considered relevant to the Group when they
efektif, dan dampak penerapan standar tersebut become effective, and the impact to the
terhadap posisi dan kinerja keuangan konsolidasian consolidated statement of financial position and
Grup masih diestimasi pada tanggal selesainya performance of the Group is still being estimated as
laporan keuangan konsolidasian. Kecuali of completion date of the consolidated financial
disebutkan lain, Grup tidak mengharapkan adopsi statements. Unless otherwise indicated, the Group
pernyataan tersebut di masa depan memiliki does not expect that the future adoption of the
dampak signifikan terhadap laporan keuangan below amendments and new accounting standards
konsolidasian. to have a significant impact on its consolidated
financial statements.
Mulai efektif pada atau setelah 1 Januari 2026 Effective beginning on or after January 1, 2026
Amendemen PSAK 109 dan PSAK 107: Klasifikasi Amendments to PSAK 109 and PSAK 107:
dan Pengukuran Instrumen Keuangan Classification and Measurement of Financial
Instruments.
Amendemen tersebut mencakup klarifikasi bahwa These amendments clarify that a financial liability is
suatu liabilitas keuangan dihentikan pengakuannya derecognized on the settlement date and introduce
pada tanggal penyelesaian (settlement date) serta an accounting policy choice (if certain conditions
memperkenalkan pilihan kebijakan akuntansi are met) to derecognize financial liabilities settled
(apabila kondisi tertentu terpenuhi) untuk through electronic payment systems before the
menghentikan pengakuan liabilitas keuangan yang settlement date.
diselesaikan melalui sistem pembayaran elektronik
sebelum tanggal penyelesaian.
151
Page 301
PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 299
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
47. STANDAR AKUNTANSI YANG TELAH 47. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE (continued)
EFEKTIF (lanjutan)
Mulai efektif pada atau setelah 1 Januari 2026 Effective beginning on or after January 1, 2026
(lanjutan) (continued)
Amendemen PSAK 109 dan PSAK 107: Klasifikasi Amendments to PSAK 109 and PSAK 107:
dan Pengukuran Instrumen Keuangan (lanjutan) Classification and Measurement of Financial
Instruments. (continued)
Selain itu, panduan tambahan ditambahkan Additional guidance is also introduced on how to
mengenai bagaimana arus kas kontraktual untuk assess the contractual cash flows of financial
aset keuangan dengan fitur lingkungan, sosial, dan assets with environmental, social, and governance
tata kelola (“ESG”) serta fitur serupa harus dinilai. (“ESG”) features and similar characteristics.
Amendemen tersebut juga mengklarifikasi fitur non- The amendments also clarify non-recourse
recourse, dan karakteristik instrumen yang terkait features, and the characteristics of contractually
secara kontraktual. linked instruments.
Selain itu, amendemen tersebut memperkenalkan Furthermore, the amendments introduce disclosure
persyaratan pengungkapan untuk instrumen requirements for financial instruments with
keuangan dengan fitur kontinjensi, serta contingent features, and additional disclosure
persyaratan pengungkapan tambahan untuk requirements for equity instruments classified at fair
instrumen ekuitas yang diklasifikasikan pada nilai value through other comprehensive income (“OCI”).
wajar melalui penghasilan komprehensif lain
(“OCI”).
Amendemen tersebut berlaku efektif untuk periode These amendments are effective for annual
pelaporan tahunan yang dimulai pada atau setelah reporting periods beginning on or after 1 January
1 Januari 2026, dengan penerapan dini 2026, with earlier application permitted only for the
diperkenankan hanya untuk klasifikasi aset classification of financial assets and related
keuangan dan pengungkapan terkait. disclosures.
Grup saat ini sedang menilai dampak dari The Group is currently assessing the impact of the
amendemen tersebut untuk menentukan amendment to determine the impact they will have
dampaknya terhadap pelaporan keuangan Grup. on the Company’s financial reporting.
Amendemen PSAK 109 dan PSAK 107: Kontrak Amendments to PSAK 109 and PSAK 107:
yang Mengacu pada Listrik Bergantung Alam Contracts Referencing Nature-dependent Electricity
Amendemen tersebut mengklarifikasi penerapan These amendments clarify the application of the
persyaratan own-use untuk kontrak yang berada own-use requirements for contracts within the
dalam ruang lingkup standar tersebut. scope of the standards.
Selain itu, amendemen ini, mengubah persyaratan In addition, the amendments, modify the
penetapan (designation) atas item yang dilindungi designation requirements for hedged items in cash
dalam hubungan lindung nilai arus kas untuk flow hedge relationships for such contracts, and
kontrak-kontrak tersebut, dan menambahkan introduce new disclosure requirements to enable
persyaratan pengungkapan baru agar investor investors to better understand the impact of these
dapat memahami dampak kontrak tersebut contracts on the entity’s financial performance and
terhadap kinerja keuangan dan arus kas cash flows.
perusahaan.
Amendemen tersebut akan berlaku efektif untuk These amendments will be effective for annual
periode pelaporan tahunan yang dimulai pada atau reporting periods beginning on or after 1 January
setelah 1 Januari 2026. Penerapan dini 2026. Early adoption is permitted but must be
diperbolehkan namun harus diungkapkan. disclosed.
Amendemen terkait pengecualian own-use The amendments relating to the own-use
diterapkan secara retrospektif, sedangkan exemption are applied retrospectively, while the
amendemen akuntansi lindung nilai diterapkan hedge accounting amendments are applied
secara prospektif untuk hubungan lindung nilai baru prospectively to new hedge relationships
yang ditetapkan sejak tanggal penerapan awal. designated from the date of initial application.
Selain itu, amendemen pengungkapan dalam In addition, the disclosure amendments in PSAK
PSAK 107 harus diterapkan bersamaan dengan 107 must be applied together with the amendments
amendemen PSAK 109. Apabila entitas tidak in PSAK 109. If an entity does not restate
menyajikan kembali informasi komparatif, maka comparative information, it is not permitted to
entitas tidak dapat menyajikan pengungkapan present comparative disclosures.
komparatif.
Grup saat ini sedang menilai dampak dari The Group is currently assessing the impact of the
amendemen tersebut untuk menentukan amendment to determine the impact they will have
dampaknya terhadap pelaporan keuangan Grup. on the Company’s financial reporting.
152
Page 302
2025 Management Business Company Corporate Sustainability
300 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
47. STANDAR AKUNTANSI YANG TELAH 47. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE (continued)
EFEKTIF (lanjutan)
Mulai efektif pada atau setelah 1 Januari 2027 Effective beginning on or after January 1, 2027
PSAK 118: Penyajian dan Pengungkapan dalam PSAK 118: Presentation and Disclosure in
Laporan Keuangan Financial Statements
PSAK 118 mengatur prinsip penyajian dan PSAK 118 establishes principles for the
pengungkapan dalam laporan keuangan untuk presentation and disclosure in financial statements
meningkatkan konsistensi dan keterbandingan in order to improve consistency and comparability
informasi yang disajikan kepada pengguna laporan of the information presented to users of financial
keuangan. Standar ini menggantikan dan statements. This standard replaces and updates
memperbarui beberapa ketentuan penyajian dan several presentation and disclosure requirements in
pengungkapan dalam standar sebelumnya. previous standards.
Grup saat ini sedang menilai dampak dari The Group is currently assessing the impact of the
amendemen tersebut untuk menentukan amendment to determine the impact they will have
dampaknya terhadap pelaporan keuangan Grup. on the Company’s financial reporting.
48. PENYELESAIAN LAPORAN KEUANGAN 48. COMPLETION OF THE CONSOLIDATED
KONSOLIDASIAN FINANCIAL STATEMENTS
Manajemen bertanggung jawab atas penyajian The management is responsible for the preparation
laporan keuangan konsolidasian yang telah of consolidated financial statements which were
diselesaikan dan diotorisasi untuk terbit oleh Direksi completed and authorized for issuance by the
Perusahaan pada tanggal 01 April 2026. Company's Board of Directors on April 1, 2026.
153
Page 303
PT Medco Power Indonesia The Energy Building 7th-8th Floor SCBD Lot 11A Jl. Jend. Sudirman, Jakarta 12190 Indonesia P. +62-21 2995 3300 F. +62-21 2995 3301 www.medcopower.co.id
Names mentioned 86 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Ministry of Environment and Forestry.
p.18 ×2
unresolved
org
PT Mitra Energi Batam
p.30
unresolved
org
PT Medco Energi Menamas
p.30
unresolved
org
PT PLN Batam
p.30 ×2
unresolved
org
PT Dalle Energy Batam
p.30
unresolved
org
PT Medco Kansai Power
p.30 ×3
unresolved
org
PT Dalle Energy
p.30
unresolved
org
PT Energi Listrik Batam
p.30
unresolved
org
PT Universal Batam Energy
p.30
unresolved
org
PT Universal Gas Energy
p.30
unresolved
org
PT Energi Prima Elektrika
p.30
unresolved
org
PT PLN Enjiniring
p.30 ×2
unresolved
org
PT Multidaya Prima Elektrindo
p.30
unresolved
org
PT Medco Ratch Power Riau
p.30
unresolved
org
PT Medco Power Sentral
p.30
unresolved
org
Sarulla Operations LTD
p.30
unresolved
org
PT Medco Cahaya Geothermal
p.30
unresolved
org
PT Medco Geothermal
p.30 ×2
unresolved
org
PT Ormat Geothermal Power
p.30
unresolved
org
PT Medco
p.30 ×2
unresolved
org
PT Medco Geothermal Indonesia
p.30
unresolved
org
PT Medco Power
p.30 ×3
unresolved
org
PT Medco Geothermal Nusantara
p.30
unresolved
org
PT Pembangkitan
p.31
unresolved
org
PT Dalle Panaran
p.31
unresolved
org
PT Bio Jatropha Indonesia
p.31
unresolved
org
PT Sangsaka Agro Lestari
p.31
unresolved
org
PT Sangsaka Hidro Selebes
p.31
unresolved
org
PT Medcopower
p.31 ×4
unresolved
org
PT Medcosolar Bali Timur
p.31
unresolved
org
PT Medco Solar Bali Barat
p.31
unresolved
org
PT Telkom Data Ekosistem
p.31
unresolved
org
Nxera ID Pte. Ltd.
p.31
unresolved
org
PT Medco Pasifik
p.31
unresolved
org
PT Medco Solar Pasifik
p.31
unresolved
org
PT Medcopower Energi Baru
p.31
unresolved
org
PT TJB Power Services
p.31
unresolved
org
PT Medco Geothermal Sarulla
p.31
unresolved
org
PT Medco Power Energi
p.31 ×2
unresolved
org
Ministry of Energy and Mineral Business Support
p.38
unresolved
org
PT United States
p.39
unresolved
org
Indonesia Stock Exchange
p.44 ×7
unresolved
org
PT Medco Power Internasional
p.44 ×4
unresolved
org
PT Medco Power Karimata
p.45
unresolved
person
Establishment Notary Maria Theresia Suprapti
p.45 ×2
unresolved
org
Purwanto Susanti
p.45 ×2
unresolved
org
Young Global Limited
p.45 ×2
unresolved
org
PT Pemeringkat Efek Indonesia
p.45
unresolved
org
PT Kustodian Sentral Efek Indonesia
p.45
unresolved
org
Purwantono
p.51 ×2
unresolved
—
Executive
· •
p.53
unresolved
—
Femi Firsadi Sastrena Director &
· •
p.53 ×2
unresolved
—
Commercial
· •
p.53
unresolved
person
Darmoyo Doyoatmojo
· Commissioner
p.54
unresolved
person
M. Teguh Pamuji
· Independent Commissioner
p.54 ×4
unresolved
person
Eka Satria
· President Director & Chief Executive Officer
p.54
unresolved
person
Myrta Sri Utami
· Director & Chief Financial Officer
p.54
unresolved
person
Imron Gazali
· Director & Chief Operating Officer
p.54
unresolved
org
PT Indonesia Hijau Dwidaya
p.55
unresolved
org
PT Indonesia Hijau Papan
p.55
unresolved
org
Ferdy & Rekan
p.55
unresolved
org
Financial Services Authority
p.59 ×6
unresolved
—
Fajrah Lestari Akili
· Corporate Secretary
p.59
unresolved
org
Minister of Energy and Mineral Resources
p.64
unresolved
org
Minister of Finance
p.87
unresolved
org
PT TJB Power
p.89
unresolved
org
Minister of Environment
p.89
unresolved
org
Ministry of Environment
p.91
unresolved
org
PT MEDCO POWER INDONESIA DAN ENTITAS ANAKNYA
p.136 ×4
unresolved
org
PT Medco Power Indonesia Opini
p.139
unresolved
person
Ferry Sanjaya
· Anggota
p.159
unresolved
org
PT Kalibiru Energi Lestari.
p.159
unresolved
org
PT Medco Power Indonesia Mitsui Energy
p.288
unresolved
org
Kementerian ESDM
p.288
unresolved
org
Ministry of Energy
p.288
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.