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Progress.
Growth.
Future.
PT Medco Power Indonesia
The Energy Building 7th-8th Floor
2025
SCBD Lot 11A Annual &
Sustainability
Jl. Jend. Sudirman, Jakarta 12190
Indonesia
P. +62-21 2995 3000
F. +62-21 2995 3001
Report
www.medcopower.com PT Medco Power Indonesia
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Contents
Overview Corporate Governance Attachments In an ever transforming energy sector, clear principles guide
2 Our Presence 48 Implementing Good 114 Company Structure
4 2025 Highlights Corporate Governance 115 Organisational Structure
Medco Power’s contribution to a sustainable world. Progress,
49 General Meeting of Shareholders 116 List of Abbreviations Growth, and Future form the framework of our commitment.
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
Progress drives our efforts, representing our continuous journey
12 Report by The President Director 54 Nomination and 130 GRI Index of improvement, innovation, and adopting better energy solutions.
Remuneration Committee 132 Feedback Form
& Chief Executive Officer
56 Supply Chain 133 Financial Statements
This advancement creates the momentum for meaningful Growth,
16 Awards, Certifications
and Achievements Management Committee allowing us to thoughtfully expand our renewable capabilities
56 Sustainability & Risk and generate shared value for all stakeholders. Driven by a
Management Discussion & Management Committee
57 Corporate Secretary dedicated focus on the Future, we are continuously evolving
Analysis
20 Financial Review 58 Internal Audit and to support the region’s energy transition.
23 Capital Structure, Integrity Compliance
60 Appointment of Public Accountant
Liquidity, and Dividends
60 Risk Management System Together, these principles channel our ambition into results that
23 Business Prospects
and Challenges
63 Internal Control System serve the needs of tomorrow.
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
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2025 Management Business Company Corporate Sustainability
2 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 3
Our Presence [GRI 2-1]
Malaysia 11
2
Malaysia
6
Su
3 Sulawesi
m
at
ra
Kalimantan
Papua
4
5
I N D O N E S I A
1
7 8
este
or L
Java Tim
9 13
10
Legend 12
Production
Development
Exploration, Pre-FID & Study
Operation & Maintenance
Our Assets
1 Headquarters 3 Riau 5 South Sumatra 7 West Java 9 East Java 11 North Sulawesi
The Energy Building, Jakarta MRPR Gas-fired EPE Gas-fired Cibalapulang Mini-hydro Ijen Geothermal Sulut-1 O&M
MPSI O&M MPE Gas-fired Pusaka Mini-hydro MPGS O&M
2 North Sumatra 12 Sumbawa
Sarulla Geothermal 4 West Sumatra 6 Batam & Riau Islands 8 Central Java 10 Bali Sumbawa Solar PV
MGS O&M Bonjol PSPE Geothermal MEB Gas-fired TJBPS O&M East Bali Solar PV
13 Timor
Samosir PSPE Geothermal DEB Gas-fired West Bali Solar PV
Timor-1 O&M
ELB Gas-fired
Bulan Solar PV
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2025 Management Business Company Corporate Sustainability
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2025 Highlights
Operation Highlights Our People Occupational Health and Safety
1,011MW 2,160 MW
Power Sales (GWh)
IPP Installed Capacity O&M Capacity
4,155 4,108
4,371 132 0.59
Total Recordable
1,094
Zero
801 831
87% 13%
Incident Rate (TRIR)
4,371GWh
• Lost Time Incident (LTI)
Level 3
905 • Occupational Illness Rate
3,353 3,277 3,277
Power Sales
(Independent)
Female Male Safety Culture Maturity
26% 25% 2023 2024 2025
56,422,282
Renewables IPP Gas-Fired IPP
Renewables Capacity Renewables Sales
Assets in Operation and in the Pipeline
1,037
Number of Employees
813
Permanent Employees
Safe Man Hours
Gas-fired Geothermal Solar PV Mini-hydro Operation &
Maintenance
Financial
6 4 3 2 6
Gross Profit EBITDA Investment‑Grade National Credit Rating
(In Billions Rupiah) (In Billions Rupiah) by PEFINDO for five consecutive years
Projects in the Pipeline
1,490
1,119 1,194
822
1,200
idA
718
Projects Conditional License Exploration/PSPE
2023 2024 2025 2023 2024 2025
Ijen Geothermal Unit 2 & 3 Bulan Solar PV 600 MW Bonjol Geothermal ~60 MW
Batam Expansion Samosir Geothermal ~40 MW
Environmental Management and Climate Change
Sustainability Community Governance
Highlights Empowerment
1 2 3 4 5
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, Renewables Clean energy Achieved a TJBPS, where Planted 140,000
Gas-Fired IPP from 70 MW to 109 MW in community initiatives and enhanced and MRPR to support annual compliance accounted for comprised 32% 9.6% reduction in Medco Power provides tree seedlings
via combined-cycle conversion. public infrastructure, education, health, verification and continuous alignment 26% of installed of total O&M emission intensity O&M services contract,
• Operational Milestones: Successfully and community facilities while fostering with ISO 37001:2016. capacity, aligned with service operations obtained the Green
achieved Commercial Operation Date positive relationships with stakeholders the 2025 interim PROPER award
(COD) for Ijen Geothermal Unit 1 and through outreach and regional climate target
East Bali Solar PV. engagement activities.
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2025 Management Business Company Corporate Sustainability
6 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments 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
2025
Performance
MPSoS Solar PV, Sumbawa
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2025 Management Business Company Corporate Sustainability
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Report by
the President Commissioner
Medco Power’s 2025 achievement affirms commitment
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
to clean and renewable energy in support of its parent renewable energy agenda. In line with
the Indonesian government’s call for
meet every quarter. In 2025, the BOC also
convened nine additional ad hoc meetings
IPP Installed Capacity
and O&M
company’s energy transition plan and long-term new power generation, the Company
commenced commercial operation
with the BOD to address emerging issues
and opportunities, enabling timely and
sustainability goals. of two new renewable power plants,
expanded capacity at an existing gas-fired
effective strategic direction.
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
Amri Siahaan
President Commissioner
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2025 Management Business Company Corporate Sustainability
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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
MRPR Gas-fired IPP, Riau
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Report by the President Director &
Chief Executive Officer [OJK D.1] [GRI 2-22]
In 2025, Medco Power celebrated its 21st year of operations.
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).
It was a year marked by effective execution, corporate successfully delivered three clean and
renewable power projects.
Even as these figures guide us in
maintaining high safety standards,
Power Sales
responsibility, organisational readiness, sustainability, and Over the past two decades, the Company
it is important to note that safety
performance is not viewed as a
long-term value creation. 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
Eka Satria scored a Level three (independent) previous year. Sales from our renewables
President Director & Chief Executive Officer safety culture maturity rating and achieved portfolio also increased 5% to 25%.
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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 households in the Cianjur region. This
service was provided by our subsidiary,
demand remains among the highest
in Indonesia, while enhancing grid
Sustainability and Social
achievements and final 50 MW Unit of Timor-1 Coal-Fired
Steam Power Plant (CFSPP) in August 2025, Responsibility
Pembangkitan Pusaka Parahiangan (PPP),
which operates a 9 MW Mini-hydro IPP
reliability and efficiency.
and lessons learnt and 2x50 MW Sulut-1 CFSPPs which
commenced operations in March 2025 and
At Medco Power, we treat environmental in the area. All of these initiatives reflect
our broader commitment to inclusive
Looking ahead to 2026, along with
its renewables portfolio, Medco Power
sustainability and social responsibility
from 2025, we will July 2025 respectively. as an integral part our business strategy, and scalable community development,
ensuring that our growth generates
will remain active in gas to power initiatives
that support the energy transition. In parallel,
transformation agenda, and decision-
continue to leverage Building Organisational making process. As we scale up to meet shared value for stakeholders. the Company will seek strategic acquisitions,
joint ventures, and partnerships to expand
Capability Indonesia’s growing energy requirements,
our sustainable Medco Power is committed to cultivating
we remain committed to doing so in a Entering the Next Phase capacity and access new technologies,
while continuing to prioritise safety,
priorities to deliver a culture of lifelong learning, enabling
individuals to access necessary resources
sustainable manner. In 2026, as continuation of our
transformation journey, many of
timely project delivery, operational and
cost efficiency.
A key part of our sustainability agenda
profitable growth. and development opportunities to enhance is the responsible management of
our initiatives in active development
will progress into the implementation Our approach to execution is grounded
their capabilities continuously. water and waste within our operations.
phase. This next phase calls for in operational efficiency and prudent
In 2025, Medco Power improved upon
Throughout 2025, Medco Power delivered strong cross-functional collaboration, cost management, complemented by
our existing efforts as well as came
more than 5,900 hours of structured training consistent execution, and measurable, a strong focus on engagement with
up with new initiatives to ensure that
across 454 competency development sustainable outcomes. employees and partners. By aligning
the risk of environmental pollution
initiatives, reinforcing our commitment to their aspirations with the Company’s
was kept to a minimum and that our Following the commencement of
strengthening organisational capability in line purpose, we seek to foster responsibility,
operations stayed compliant with all commercial operations at the East Bali
with the Company’s transformation agenda. commitment, and sustained support for
relevant laws, regulations, and industry Solar PV and Ijen Geothermal Unit 1
These programmes focused on enhancing our strategic objectives.
standards concerning water, air quality, projects, Medco Power will continue
operational discipline, technical excellence,
effluents, and waste. to grow its renewable energy portfolio.
leadership accountability, and governance Appreciation
awareness across assets and functions. The Company’s focus includes advancing
In terms of social responsibility, we We enter 2026 with renewed confidence
subsequent phases of the Ijen project,
continued to support local communities and a clear direction. This is made possible
The Company invested approximately ongoing geothermal exploration in
by conducting regular knowledge-sharing by all stakeholders who have journeyed
IDR 2.78 billion in leadership and technical Bonjol (West Sumatra) and Samosir
sessions in local schools, extending with us to provide reliable, affordable,
development, covering critical areas such (North Sumatra), and finalising feasibility
access to basic healthcare, and supporting and sustainable energy. These include
as geothermal and solar PV operations, studies for wind power development in
community health initiatives such as the communities around our operations,
maintenance reliability, safety leadership, West Sumbawa, serving both captive
medical examinations for pregnant women our colleagues for their dedication,
environmental compliance, and regulatory customers and PLN. Progress is also
and malnutrition prevention for children. and the Government of Indonesia for
standards. These investments ensure that being made on the Bulan Solar PV project,
We also did our part to stimulate local their unwavering support. We wish
our workforce remains equipped to support which is being evaluated as a potential
economic development by hiring and one and all, a happy, prosperous and
portfolio expansion while maintaining high future renewable development hub.
engaging local contractors and vendors safe year ahead.
operational and governance standards.
where possible. At the same time, the Company continues
To strengthen operational excellence, to strengthen its gas to power portfolio
As part of our commitment to local
the Company also implemented Continuous as a key enabler of the energy transition.
community development in areas
Improvement programmes and adopted Building on the successful ELB combined
surrounding our operations, Medco
national competency standards for solar PV cycle add-on in Batam, the Company
Power implemented a circular-economy
operations (SKKNI and SKTTK) as the is advancing the expansion of its
cricket farming programme with a local Eka Satria
foundation for human capital development existing Batam gas-fired power plant.
community group in Pekanbaru to President Director &
and operational risk control. These This project is designed to support
strengthen livelihoods and promote
standards serve as benchmarks to ensure the Batam region, where electricity Chief Executive Officer
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.
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Awards, Certifications,
and Achievements
Gas-fired Solar PV & Other Renewables
Awards Certifications Awards Achievements
• ELB, MRPR and MEB received a recognition for compliance • Medco Power, MRPR, ELB, and MEB received an • BJI received a Certificate of Appreciation from PMI Cianjur for • Marked a significant milestone with the commencement of
in implementing the Electrical Safety Management System ISO Integrated 9001, 14001, and 45001 last December 2025, contribution and active participation in Blood Donation initiatives and commercial operations of the 25 MWp East Bali Solar PV
(SMK2) with Blue Rating. certified by TUV Nord. for participation in Drug Testing and the Prevention and Eradication inaugurated by President of the Republic of Indonesia,
• MRPR was presented by the Head of PMI Pekanbaru of Drug Abuse and Illicit Trafficking (P4GN) programme. Prabowo Subianto.
in recognition of supporting voluntary blood drives, • PPP received a GOLD category Award from the Provincial • Completed the installation of two 140-metre measurement
ensuring the availability of sufficient blood stocks for the Occupational Safety and Health Advisory Committee (P2K3) of towers in West Sumbawa Regency – an important milestone
Pekanbaru community. Achievements West Java in 2025, and an Award for achieving zero accidents in the Company’s first wind power plant project.
• MRPR was presented by the Mayor of Pekanbaru in recognition by implementing the Occupational Safety and Health Programme,
• Increased generating capacity at the ELB Gas-fired reaching 376,874 working hours.
of voluntary blood donations and free medical check-ups to
from 70 MW to 109 MW by utilising exhaust heat to generate PPP received a Certificate of active participation in conducting
improve the health and well-being of Pekanbaru’s citizens. •
additional power through efficient heat-recovery technology. outreach on the prevention and eradication of drug abuse in
• MRPR was presented by the Mayor of Pekanbaru in recognition
of empowering Early Childhood Education via PAUD the workplace.
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. Operation & Maintenance
• 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
Awards Certifications
activities through blood donation at the PMI Awards 2025.
• MPE received a Certificate of Appreciation from National • MPES-Timor received a Certificate of active participation in • MPSI received an ISO Integrated 9001, 14001, and 45001 last
Narcotics Agency (BNN) South Sumatra and Prabumulih as conducting outreach on the prevention and eradication of drug August 2025, certified by TUV Nord.
a category of private environment free from drug shields. 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).
Geothermal Achievements
• Operations and Maintenance business expanded
Awards Achievements to include the second and final 50 MW unit of Timor-1 Coal-Fired
Steam Power Plant (CFSPP) and 2x50 MW Sulut-1 CFSPP.
• 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.
Ijen Geothermal, East Java East Bali Solar PV, Bali
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20 Financial Review
23 Capital Structure,
Liquidity, and Dividends
23 Business Prospects
and Challenges
Management
Discussion &
Analysis
Ijen Geothermal, East Java
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Financial
Review
In 2025, Medco Power recorded total primarily driven by the commencement of From a financial reporting perspective, Total assets increased by 10.50% to liquidity strategy. Total liabilities increased with tenors ranging from three to seven
power sales of 4,371 GWh, with the O&M services for PLN’s power plants in the transition from construction to Rp20.35 trillion in 2025, driven mainly to Rp13.38 trillion from Rp11.77 trillion, years. These issuances extended the debt
majority 3,277 GWh generated from Timor and North Sulawesi. operations has enhanced the Company’s by a 9.86% rise in non-current assets to reflecting refinancing activities and additional maturity profile and strengthened the
gas-fired. Geothermal IPPs contributed profitability profile. Construction activities Rp16.20 trillion. This increase reflected the long-term funding aimed at strengthening long-term funding base.
943 GWh, while solar PV and hydro In accordance with applicable accounting typically generate lower margins, while recognition of concession financial assets financial resilience.
combined delivered 151 GWh, representing standards, Rp1,215 billion was recognised as operational activities provide higher and related to the Ijen Geothermal and East Bali As a result, the liability structure at
a 30.17% increase from 116 GWh in 2024. power sales revenue, up from Rp746 billion more sustainable returns. Accordingly, Solar PV projects, as well as the reclassification Short-term bank loans declined significantly year-end reflects a healthier maturity
This increase was supported by the recognised in 2024. The difference between the reduction in construction revenue was of construction-related assets into finance compared to 2024, reflecting efforts to composition, with reduced reliance on
commercial operation of the Ijen Geothermal total billing and recognised revenue reflects accompanied by an improvement in overall lease receivables following the commercial refinance near term obligations and reduce short term borrowings and improved
Unit 1, East Bali Solar PV, and ELB Gas-fired accounting adjustments, whereby the margin quality and a lower exposure to operation of Energi Listrik Batam Expansion. liquidity pressure. Meanwhile, the increase liquidity management.
IPP, all of which achieved Commercial variance is treated as a deduction from lease project execution risk. in current maturities of long-term debt
receivables and concession financial assets. Liquidity remained solid, supported by higher relates mainly to scheduled amortisation Equity remained broadly stable at Rp7.0 trillion.
Operation Date (COD) during the year.
Medco Power recorded EBITDA of cash balances and increased trade receivables of restructured facilities. Movements during the year were supported
The Company reported a rise in total As the East Bali Solar PV and Ijen Geothermal Rp1,200 billion and profit attributable to in line with the operation of new IPP assets by the return to profitability, foreign currency
contractual billing to PLN under PPA’s are structured under service concession parent of Rp17 billion in 2025. The year and active O&M contracts, providing sufficient Non-current liabilities increased, driven by translation gains, and contributions from
Rp2,410 billion in 2025, up from Rp1,721 billion arrangements, their construction progress concluded with the full commissioning of capacity to support operations, debt service, the issuance of bonds and Sharia compliant other comprehensive income of joint ventures,
in the previous year. In addition, revenue contributes directly to the Company’s key assets, which together are expected and working capital needs. Sukuk. In July 2025, the Company issued partially offset by fair value movements of
from operation and maintenance (O&M) construction revenue. In 2025, construction to contribute additional scale and recurring Rp500 billion of bonds with tenors of five and cash flow hedging instruments. Overall,
services – representing a separate recurring income declined by 78%, from Rp1,277 billion earnings in 2026. In parallel, the Company The Company actively managed its liabilities seven years, while in February 2025, it issued the equity position reflects a resilient capital
revenue stream – continued to grow, in 2024 to Rp276 billion, primarily reflecting continued initiatives to strengthen asset during the year in line with its financing and Sukuk Wakalah amounting to Rp1.15 trillion base supporting portfolio growth.
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.
Balance Sheet [OJK C.3]
(Expressed in millions of Rupiah)
Income Statement
(Expressed in millions of Rupiah) Change
Description 2024 2025
Change Nominal %
Description 2024 2025
Total Current Assets 3,668,149 4,148,548 480,399 13.10
Nominal %
Total Non-Current Assets 14,743,483 16,196,944 1,453,461 9.86
Revenue 3,271,302 2,931,986 (339,316) (10.37)
Total Assets 18,411,632 20,345,493 1,933,861 10.50
Cost of Income (2,077,507) (1,442,458) 635,049 (30.57)
Total Current Liabilities 3,964,511 2,870,640 (1,093,871) (27.59)
Gross Profit 1,193,794 1,489,527 295,733 24.77
Total Non-Current Liabilities 7,802,204 10,510,749 2,708,545 34.72
Operating Expenses (610,164) (683,506) (73,342) 14.16
Total Liabilities 11,766,716 13,381,389 1,614,673 13.72
Other Income 167,406 211,099 43,693 26.10
Total Equity 6,644,916 6,964,104 319,188 4.80
Other Expenses (171,910) (24,931) 146,979 (85.50)
Total Liabilities and Equity 18,411,632 20,345,493 1,933,861 10.50
Profit from Operations 579,127 1,053,037 473,910 81.83
Interest Income 60,246 113,895 53,649 85.05
Funding Expenses (686,855) (792,382) (105,527) 15.36
Profit Before Income Tax Expenses (47,482) 374,550 422,032 (888.83)
Income Tax Expense (60,907) (131,410) (70,503) 115.76
Profit 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)
ELB Gas-fired, Riau Islands
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2025 Management Business Company Corporate Sustainability
22 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 23
Financial Capital Structure,
Review
Liquidity, and Dividends
Operating cash flows strengthened in 2025, Rp312 billion. These were partially offset which were used to refinance existing Medco Power continues to uphold a Throughout 2025, Medco Power maintained Medco Power’s dividend policy is determined
with net cash flows from operating activities by collections of advances from reassessed obligations and optimise the maturity profile. prudent capital structure and a stable a solid liquidity position, with sufficient by the Company’s financial capacity, with
reaching approximately Rp997 billion, supported investment plans, reflecting disciplined Net cash outflows from financing activities financial outlook. The Company actively internal resources and access to financing careful consideration given to the availability
by higher electricity production and growing capital allocation. Investment activity was amounted to approximately Rp60 billion. reviews and manages its capital composition facilities to meet both short and long-term of cash after meeting operational funding
recurring O&M revenue. This demonstrates the more measured following the completion of to support operational efficiency, profitability, obligations. Total liabilities increased by requirements, scheduled loan repayments
Company’s ability to fund operations internally. major projects, while maintaining support for As a result, cash and cash equivalents and long-term shareholder value. This 13.72%, rising from Rp11.8 trillion in 2024 and interest obligations, as well as ongoing
future growth. increased to Rp2.36 trillion at the end of approach takes into account future capital to Rp13.4 trillion in 2025, primarily driven capital investment programmes.
Cash flows from investing activities reflected 2025 from Rp1.69 trillion in the previous requirements, operating cash flows, by project financing to support the
continued investment in concession assets, Financing activities were primarily driven year, enhancing liquidity buffers and capital expenditures, and strategic Company’s ongoing infrastructure and In 2025, following a review of its financial
exploration and evaluation, and selected capital by refinancing initiatives, including proceeds financial flexibility to support operations, investment opportunities. energy development initiatives. priorities, the Company decided not to declare
expenditures, amounting to approximately from long-term bank loans, bonds, and sukuk, debt servicing, and growth initiatives. or distribute any dividends to shareholders.
Cash Flow
Business Prospects
(Expressed in millions of Rupiah)
Change
Description 2024 2025
Net Cash Provided from Operating Activities 707,922 997,188
Nominal
289,266
%
40.86 and Challenges
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) In 2026, the Company will continue wider energy transition and help diversify capital investments, and the integration
Exchange Rate Differences (2,320) 36,928 39,248 (1691.72) 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,
Cash and Cash Equivalents at the Beginning of the Year 1,951,363 1,692,791 (258,572) (13.25) To drive further expansion and innovation,
particularly in geothermal, solar PV, and we are confident that we will prevail.
Cash and Cash Equivalents at the End of the Year 1,692,791 2,355,595 662,804 39.15 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,
Capital Structure – Total Liabilities and Equity is intended to further boost operational and drive generation capacity. We are aware achieving strategic objectives, and enhancing
(Expressed in millions of Rupiah) of the challenges that face us, including but operational and cost efficiencies throughout
efficiency and resilience. Ongoing gas-to-
power projects will also contribute to the not limited to, complex regulations, substantial all business units.
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 Asset 906,662 221,163 (685,499) (75.61)
Addition to Exploration and Evaluation Assets 25,905 175,462 149,557 577,33
Ijen Geothermal, East Java
Addition to Investment in Shares 40,250 – (40,250) (100.00)
Total Capital Expenditure 2,174,894 662,123 (1,512,771) (69.56)
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26 Business Activities
28 Asset Information
Business
Activities
Ijen Geothermal, East Java
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2025 Management Business Company Corporate Sustainability
26 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 27
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 Strengthening: Operations Such expansions enhance recurring execution capabilities to ensure long-term
contracted Independent Power Producer 39 MW Add-On Power Plant, operated is capital-intensive and technically complex, fee-based income streams and reinforces value creation. This will be exercised in
(IPP) assets with growing clean and by subsidiary – Energi Listrik Batam (ELB). project execution is carried out using
& Maintenance as a Medco Power’s positioning as an IPP upcoming projects such as Ijen Unit 2 and 3,
renewable capacity and an Operation and The project transforms the existing 70 MW disciplined capital deployment and phased Platform Enabler and O&M company of choice. geothermal exploration in Bonjol and
Maintenance (O&M) services platform, open-cycle facility into a 109 MW combined- development strategies. For the first unit Beyond developing and owning power Samosir, and the advancement of Bulan
providing operational flexibility, and strategic cycle plant by using exhaust heat from of Ijen Geothermal which commenced assets, the Company also provides Operation Future Development Solar PV as a scalable renewable platform.
resilience. The Company owns and operates existing gas turbines to generate additional in 2025, 35 MW will be delivered to the and Maintenance (O&M) services to a total These and existing projects will be
In June 2025, PLN, Indonesia’s state
a total of 15 Gas to Power, Geothermal, power through a steam turbine. The upgrade Java electricity grid. This will enhance grid of six power plants across Indonesia. This marked by a strong culture of efficiency
utility officially released to the public the
Solar PV and other Renewables IPPs enhances fuel efficiency and plant economics stability and provide power to approximately operational expertise enables the Company and cost consciousness, and driven by
long-anticipated new Electricity Supply
(both operating and in the pipeline) and by generating additional output without 85,000 households. Subsequently, when to maintain high standards of plant reliability, people, organisational capabilities and
Business Plan – “2025–2034 RUPTL”.
provides O&M services to six power plants proportional increases to fuel consumption, fully rolled out, the plant will produce up to efficiency, and lifecycle performance. strategic partnerships.
The new plan calls for a considerable
across Indonesia. thereby enhancing operational performance. 110 MW of power. The plant will also avoid
amount of investment in new power Since its inception, the Company has
Environmental performance is also improved projected emissions of up to 210,000 tCO2e The O&M platform serves as a key
In the 2025 Financial Year, the Company generation (69.5 GW), with a focus on demonstrated its ability to continually
as emissions from the new plant is expected per year. differentiator, positioning the Company
achieved many of its targets. Total power new and renewable energy (42.6 GW). evolve in a structured and progressive
to be cut from 0.8 tons of CO2 per MWh not only as a power producer but also as a
sales reached 4,371 GWh, with renewables More than just portfolio diversification, This is in line with Medco Power’s existing manner – beginning with gas-fired
to 0.5 tons. capable operator with comprehensive asset
contributing 25%, up from 20% in 2024. Geothermal represents a strategic strategic plans to support Indonesia’s generation, expanding through IPP
management capabilities. This strength
This growth reflects improved asset evolution toward sustainable and resilient growing energy requirements, and move developments and partnerships,
Expansion: Independent supports operational excellence across
towards greater sustainability.
availability and execution discipline, as well power generation. existing assets while enhancing readiness transitioning into geothermal, and today,
as commitment towards a more balanced
Power Producer Growth selectively diversifying into other renewable
for future multi-technology developments. In 2026 and beyond, the Company will
clean and renewable-focused energy mix. & Partnerships Diversification: continue its transformation journey to
initiatives. Supported by strong O&M
Over the years, the Company continued Into Other Renewables In 2025, the Company continued to build on capabilities, Medco Power is well positioned
Health & Safety Performance become the most reliable power company
to build its business and expand its portfolio its O&M services portfolio with the COD of as a reliable, diversified, and transition-ready
Health and safety performance continues In line with the global and national energy of choice. Growth will be pursued with
through various domestic and international the second and final 50 MW Unit of Timor-1 power platform for Indonesia’s evolving
to be a top priority. In 2025, the Company transition momentum, the Company disciplined capital allocation, rigorous
partnerships with companies such as PT Coal-Fired Steam Power Plant (CFSPP) energy landscape.
recorded zero lost-time incidents and continues to explore and develop other project evaluation, and strengthened
PLN (Persero), Telkom and Singtel. A joint and 2x50 MW Sulut-1 CFSPPs units.
occupational illnesses, achieved a Level 3 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 ELB Gas-fired, Riau Islands
commitment to energy security. long-term contracted structures.
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2025 Management Business Company Corporate Sustainability
28 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 29
Asset
Information
Gas-Fired Solar PV & Other Renewables
Asset Asset Entity Location Ownership Status Asset Asset Entity Location Ownership Status
MEB PT Mitra Energi Batam Batam, • PT Medco Energi Menamas 54% Operating Pusaka Mini-Hydro PT Pembangkitan Cianjur, • Medco Power 99.99% Operating
Riau Islands • Medco Power 10% Pusaka Parahiangan West Java • PT Dalle Panaran 0.01%
• YPK PLN 6%
Cibalapulang Mini-Hydro PT Bio Jatropha Indonesia Cianjur, • PT Sangsaka Agro Lestari 99.10% Operating
• PT PLN Batam 30%
West Java • PT Sangsaka Hidro Selebes
DEB PT Dalle Energy Batam Batam, • PT Medco Kansai Power Operating 0.10%
Riau Islands Indonesia 79.99%
Sumbawa Solar PV PT Medcopower Sumbawa, • PT Medcopower Operating
• PT PLN Batam 20%
Solar Sumbawa West Nusa Energi Baru 50%
• PT Dalle Energy 0.01%
Tenggara • PT Amman Mineral
ELB PT Energi Listrik Batam Batam, • PT Universal Batam Energy Operating Internasional 50%
Riau Islands 95%
East Bali Solar PV PT Medcosolar Bali Timur East Bali, • Medco Power 51% Operating
• PT Universal Gas Energy
Bali • Solar Philippines Power
1.51%
Project Holdings, Inc 49%
• Medco Power 3.49%
West Bali Solar PV PT Medco Solar Bali Barat West Bali, • Medco Power 51% Development
EPE PT Energi Prima Elektrika Prabumulih, • PT Medco Kansai Power Operating
Bali • Solar Philippines Power Project
South Sumatra Indonesia 92.5%
Holdings, Inc 49%
• PT PLN Enjiniring 7.5%
Teknologi Data Infrastruktur PT Teknologi Data Infrastruktur Batam, • PT Telkom Data Ekosistem Construction
MPE PT Multidaya Prima Elektrindo Palembang, • PT Medco Kansai Power Operating
Riau Islands 61.08%
South Sumatra Indonesia 85%
• Nxera ID Pte. Ltd. 35.63%
• PT PLN Enjiniring 15%
• Medco Power 3.28%
MRPR PT Medco Ratch Power Riau Pekanbaru, • PT Medco Power Sentral Operating
Medco Pasifik Solar Transmisi PT Medco Pasifik Batam, • Medco Power 99.90% Development
Riau Sumatera 51%
Solar Transmisi Riau Islands • PT Medco Solar Pasifik 0.10%
• RH International (Sgp)
Corporation Pte., Ltd. 49% Medcopower Transportasi Listrik PT Medcopower Jakarta • PT Medcopower Energi Baru 99% Operating
Transportasi Listrik • Medco Power 1%
Geothermal
Operation & Maintenance
Asset Asset Entity Location Ownership Status
Asset Asset Entity Location Ownership Status
Sarulla Sarulla Operations LTD Sarulla, • Medco Power 18.9975% Operating
North Sumatra • INPEX 18.2525% TJBPS PT TJB Power Services Jepara, Medco Power 50% Operating
• Itochu 25% Central Java
• Kyushu Electric Power Co. 25%
Sarulla PT Medco Geothermal Sarulla North Tapanuli, Medco Power 62% Operating
• Ormat International 12.75%
North Sumatra
Ijen PT Medco Cahaya Geothermal Banyuwangi, • PT Medco Geothermal Operating Riau PT Medcopower Tenayan, Riau Medco Power 62% Operating
East Java Indonesia 51% Servis Indonesia
• PT Ormat Geothermal
Power 49% Sulut-1 Unit 1 & 2 PT Medco Power Energi Bolaang Medco Power 100% Operating
Services Mongondow,
Bonjol PSPE PT Medco Bonjol, • Medco Power 49% Exploration North Sulawesi
Geothermal Sumatera West Sumatra • PT Medco Geothermal
Indonesia 51% Timor-1 Unit 1 & 2 PT Medco Power Energi Kupang, East Medco Power 100% Operating
Services Nusa Tenggara
Samosir PSPE PT Medco Power Samosir, • PT Medco Geothermal Exploration
Geothermal Energi North Sumatra Indonesia 99.92% Ijen PT Medco Power Ijen, East Java Medco Power 60% Operating
• PT Medco Geothermal Geothermal Services
Nusantara 0.08%
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2025 Management Business Company Corporate Sustainability
30 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments 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
37 Board of Directors
38 Financial Highlights
40 Operational Highlights
42 Share Information
43 Corporate Data
44 Other Securities Information
Company
Profile
The Energy Building, Jakarta
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2025 Management Business Company Corporate Sustainability
32 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 33
Company History
From its beginnings as an Independent Power Producer relying
on conventional power generation activities, Medco Power Landmark Developments
has, over the short span of 21 years, transformed into one of Ijen Geothermal (2025)
Indonesia’s key clean and renewable power players.
2004 – 2006 2013 – 2017 2020 – 2022 2025
A Cornerstone of Expanding into New Building Up Strategic Ramping Up Clean and
Indonesia’s Power Market Markets and Clean and Partnerships Renewable Energy
Medco Power, an Independent Renewable Energy Medco Power strengthened its In 2025, Medco Power accelerated
Power Producer (IPP) and provider Medco Power expanded its strategic alliances with domestic and its efforts into delivering new clean
of Operation and Maintenance footprint into new regions, international partners, including PT and renewable energy capacity. Located in Bondowoso, East Java, Ijen Geothermal is the first
(O&M) services, was set up to including Sumatra and West Java, PLN (Persero), Telkom, Singtel, and Commercial operations commenced geothermal project in the region. Its first unit features a capacity of
provide reliable and efficient energy, while strengthening its clean Kansai Electric Power Company. A key for the Ijen Geothermal and the East
35 MW and reduces CO2 emissions by up to 210,000 tons annually.
and support national energy needs. and renewable energy portfolio. milestone was the establishment of a Bali Solar PV, capable of powering
Marking MedcoEnergi Group’s entry In 2013, the Company signed joint venture with Kansai to collaborate approximately 85,000 and 42,000
into the power generation sector, the on gas to power and O&M platforms. households respectively. The 39 MW
PPAs for the Cibalapulang (9 MW) East Bali Solar PV (2025)
Company commenced commercial and Cianjur (9 MW) mini-hydro ELB Expansion also began commercial
operations of MEB and DEB in the During this period, the Company operations, enhancing efficiency and
projects, as well as the 110 MW expanded its renewable portfolio
strategic industrial hub of Batam in Ijen Geothermal project, marking output from existing gas infrastructure.
the Riau Islands, and secured the through the construction and COD
a significant step into renewable of its first Solar PV project in Sumbawa During the same year, the Company
O&M tender for TJB Power Services energy development.
in Jepara. (26 MWp) for Amman Mineral, signed completed met mast installation for
The Company also enhanced its the PPA for Bali Solar PV, and participated the Sumbawa wind project, advancing
gas to power operations through in the Indonesia–Singapore Pilot Solar its wind energy development pipeline.
2007 – 2012 the COD of the MEB Combined PV Import Project. In parallel, Medco
Power strengthened its gas platform Beyond power generation,
Strengthening the Cycle (20.6 MW) in 2014 and the
with the COD of the 275 MW Riau two O&M projects – Sulut-1 and
ELB 70 MW power plant in 2015,
Gas Platform and further increasing efficiency and Combined Cycle Power Plant. Timor-1 – also achieved COD in 2025,
further strengthening Medco Power’s
Early Diversification capacity. In 2017, Medco Power operational portfolio.
signed the PPA for the PLTGU
Medco Power continued to
Riau project, expanding its 2023 – 2024 Located in Karangasem, Bali, this 25 MWp plant is the largest utility-
strengthen its gas to power
platform, primarily in Batam.
large-scale gas platform. Solidifying Its Position scale solar power plant in Bali, able to generate 50 GWh of electricity
The Company reached Commercial in Renewables annually. It also cuts more than 42,000 tons of CO2 each year.
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 ELB Expansion (2025)
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 Located in Tanjung Uncang, Batam, this former 70 MW open-cycle
for the Sarulla Geothermal project, States Trade and Development facility was transformed into a 109 MW combined-cycle plant.
marking its initial strategic step Agency (USTDA) and was awarded It channels exhaust heat from gas turbines into a steam turbine
into geothermal power. the Geothermal Preliminary Survey to generate additional power, thereby increasing efficiency while
and Exploration (PSP-E) license for reducing carbon intensity.
Samosir, North Sumatra.
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2025 Management Business Company Corporate Sustainability
34 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 35
Medco Power Vision, Mission, and
in Brief Corporate Values [OJK C.1] [OJK F.1]
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) Vision
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 To be a leading clean Independent Power Producer and Operation &
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.
Maintenance service company of choice for investors, shareholders,
of clean and renewable power assets. 3,600 GW of renewable energy potential
Our Four Business Pillars
partners, employees, and communities where we operate.
in Indonesia, and the growing independent
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
Mission
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
and provides O&M services. Since 2020, COD in July 2025, and the 109 MW ELB
renewable energy businesses, the Company To build a long-term value with portfolio of clean Independent
advances a balanced and disciplined growth
Medco Power has also partnered with Expansion project commenced operations
Kansai Electric Power Company on in November 2025, enhancing system
strategy. This strategy is implemented through Power Producer, Operation & Maintenance, and sustainable
four core business pillars that reinforce
several Gas to Power and O&M projects, efficiency and capacity to support growing
operational excellence, portfolio resilience, renewable energy businesses.
reinforcing its operational excellence and demand on Batam.
and sustainable value creation.
international collaboration.
Corporate Values
Gas to Power
Professional
A vital part of Indonesia’s energy mix, the Company operates gas-fired plants that
All employees must conduct themselves in a professional manner by:
deliver reliable and efficient power to the national grid to support energy security • Being competent in their area of expertise.
and transition. • Having a “champion spirit”
• Always seeking self-improvement
• Having professional capabilities and knowing their limits
Geothermal
Ethical
The Company’s geothermal operations utilise advanced technologies powered by All employees must conduct themselves in an ethical manner by:
natural heat from beneath the earth’s surface to produce renewable electricity. • 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
Solar PV & Other Renewables
Open
The Company owns and operates solar PV and mini-hydro assets while actively All employees must make efforts to promote transparency by:
• Encouraging informality and openness in communication at all levels
pursuing the development of additional solar PV and wind projects to generate more • Building an environment of trust among employees and management
sustainable and accessible energy from Indonesia’s abundant renewable sources. • Being open-minded in thought, behaviour and work
Innovative
Operation & Maintenance
All employees must cultivate a spirit of innovation by:
• Helping to build a culture of trailblazers
As a dedicated business pillar, the Company provides comprehensive O&M services • Continuously searching for innovative solutions to achieve better, safer, and cost-effective outcomes
to ensure reliable, efficient, and high performance power generation assets. • Demonstrating intellectual and emotional maturity
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Board of Commissioners Profile Board of Directors Profile
Amri Siahaan Darmoyo Doyoatmojo M. Teguh Pamuji Eka Satria Femi Firsadi Sastrena Myrta Sri Utami Imron Gazali
President Commissioner Commissioner Independent Commissioner President Director & Director & Chief Director & Chief Director & Chief
Chief Executive Officer Commercial & Business Financial Officer Operating Officer
Development Officer
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: Nationality and Age: Indonesian, Nationality and Age: Indonesian, Nationality and Age: Indonesian, Nationality and Age: Indonesian,
• Bachelor’s Degree in Mechanical • Bachelor’s Degree in Electrical Engineering, • Bachelor’s Degree in Law, Universitas Born in 1967 Born in 1972 Born in 1978 Born in 1971
Engineering, Bandung Institute of Bandung Institute of Technology (1975) Indonesia (1983) Academic and Professional Academic and Professional Academic and Professional Academic and Professional
Technology (1989) • Master of Business Administration, • Master’s Degree in Law, Universitas Qualifications: Qualifications: Qualifications: Qualifications:
• Master of Business Administration, University of Southern California (1990) Indonesia (2002) • Bachelor’s Degree in Civil • Bachelor’s Degree in Economics, • Bachelor’s Degree in Architecture • Bachelor’s Degree in Chemical
University of Leicester (2003) • Master of Science, Finance & Business Professional Experience/Career Background: Engineering, Bandung Institute of Universitas Trisakti (1995) Engineering, Parahyangan Engineering, Bandung Institute
Professional Experience/Career Background: Economy, University of Southern • Various positions including Secretary Technology (1990) • Graduate Diploma, University Catholic University (2002) of Technology (1995)
• Vice President, Government Affairs & California (1991) General, Ministry of Energy and Mineral • Master’s Degree in of Berkeley, Ext (1998) • Master’s Degree in Business • Master of Engineering
Business Support, Premier Oil Indonesia Professional Experience/Career Background: Resources (1990–2018) Management – Finance, • Master of Business Administration, Prasetiya Mulia in Chemical Engineering,
(2011–2015) • Various managerial positions, including Appointment Universitas Indonesia (2000) Administration, Lincoln Business School (2006) Texas A&M University (1998)
• General Manager Operations/Start-Up President Director and CEO, MedcoEnergi • BP Executive Programme – Major University (1999) Professional Experience/ Professional Experience/
• Appointed since 2018
Manager, Tangguh LNG, BP Indonesia (1980–2011) Project Leaders, Massachusetts Professional Experience/ Career Background: Career Background:
(2008–2011) Appointment Institute of Technology (MIT) Career Background: • Vice President, Corporate • Senior VP, Onshore Asset, PT
• Executive Assistant to COO, Atlantic LNG • Appointed since 2011
United States of America (2004) • Head of Corporate Portfolio Planning & Investor Relations, Medco E&P Indonesia (2021–2022)
Trinidad & Tobago (2007–2008) Professional Experience/ Management, MedcoEnergi MedcoEnergi (2019–2023) • Advisor to COO – Lead of Special
• Vice President, “Semberah” Asset, VICO Career Background: (2015–2017) • Senior Manager, Corporate Task Forces, MedcoEnergi
Indonesia (2004–2006) • Asset Development Director, • Head of Commercial, PT Medco Planning & Investor Relations, (April–December 2020)
• Vice President, Supply Chain Management, MedcoEnergi (2011–2017) E&P Indonesia (2012–2015) MedcoEnergi (2018–2019) • Commercial Director – Copper
VICO Indonesia (2001–2004) • Vice President, Project Capability, • Vice President – Strategic • Director, PT Mitra Energi Gas Smelter Project, Amman Mineral
• Audit & Internal Control Manager, BP MedcoEnergi (2008–2010) Planning, Medco US, LLC, USA Sumatra – a subsidiary of (2016–2020)
Indonesia (2001) • Project Manager, Major Projects, (2010–2012) MedcoEnergi (2018–2020) • Director – Jawa-1 IPP Tender Project,
Concurrent Positions: BP Indonesia (2000–2008) • Managing Consultant, Wood Appointment Medco Power Generation (2015–2016)
• Director & Chief Administrative Officer, • Project Manager, Tangguh LNG Mackenzie Asia Pacific, • Appointed since 2023 • Corporate Secretary and Executive
MedcoEnergi Gas Processing, BP Indonesia Singapore (2005–2010) Assistant to President Director &
(1989–2000) • Associate Director for Financial CEO, MedcoEnergi (2011–2016)
Appointment
• Project and Engineering Advisory Services, • VP Commercial – 7 Major Projects,
• Appointed since 2017
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
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Financial
Highlights
Consolidated Statement of Financial Position Consolidated Cash Flow Statement
(Expressed in millions of Rupiah) (Expressed in millions of Rupiah)
Description 2023 2024 2025 Description 2023 2024 2025
Total Current Asset 3,720,233 3,668,149 4,148,548 Net Cash Provided from Operating Activities 905,311 707,922 997,188
Total Non-Current Asset 12,208,995 14,743,483 16,196,944 Net Cash Used in Investing Activities (324,462) (590,669) (311,782)
Total Asset 15,929,228 18,411,632 20,345,493 Net Cash Provided (Used in) Financing Activities (1,076,030) (373,505) (59,529)
Total Current Liabilities 3,225,696 3,964,511 2,870,640 (Decrease) Increase Net in Cash and Cash Equivalents (495,181) (256,253) 625,876
Total Non-Current Liabilities 6,150,635 7,802,204 10,510,749 Exchange Rate Differences (64,350) (2,320) 36,928
Total Liabilities 9,376,331 11,766,716 13,381,389 Cash and Cash Equivalents at the Beginning of the Year 2,510,894 1,951,363 1,692,791
Total Equity 6,552,897 6,644,916 6,964,104 Cash and Cash Equivalents at the End of the Year 1,951,363 1,692,791 2,355,595
Total Liabilities and Equity 15,929,228 18,411,632 20,345,493
Financial Ratios
(Expressed in %)
Statement of Profit and Loss and Other Comprehensive Income
(Expressed in millions of Rupiah)
Description 2023 2024 2025
Description 2023 2024 2025 Return on Assets (ROA) 0.08 (0.59) 1.20
Revenue 4,321,575 3,271,302 2,931,986 Return on Equity (ROE) 0.19 (1.63) 3.49
Cost of Income (3,202,582) (2,077,507) (1,442,458) Revenues to Total Assets Ratio 27.13 17.77 14.41
Gross Profit 1,118,993 1,193,794 1,489,527 Total Liabilities to Equity Ratio 143.09 177.08 192.15
Operating Expenses (564,387) (610,164) (683,506) Current Ratio 115.33 92.52 144.52
Other Income 139,338 167,406 211,099 Interest Coverage Ratio 155.50 114.57 176.91
Other Expenses (43,360) (171,910) (24,931) Debt to Equity Ratio 112.36 135.12 140.96
Profit from Operations 691,025 579,127 1,053,037
Interest Income 64,130 60,246 113,895
Funding Expenses (592,734) (686,855) (792,382)
Profit Before Income Tax Expenses 162,422 (47,482) 374,550
Income Tax Expense (149,848) (60,907) (131,410)
Profit 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
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Operational
Highlights
Power Generated Sales (GWh) Power Capacity (MW)
Plant Location Fuel-Type 2021 2022 2023 2024 2025 Effective
Gross Capacity
Power Plant and O&M Ownership
Gas-Fired IPPs
Independent Power Producers (IPPs)
Mitra Energi Batam Riau Islands Gas 553 551 565 574 582
Installed
Dalle Energy Batam Riau Islands Gas 629 634 579 617 549
Mitra Energi Batam 42% 85
Energi Listrik Batam Riau Islands Gas 521 521 521 523 553
Dalle Energy Batam 48% 85
Energi Prima Elektrika South Sumatra Gas 71 73 69 72 62
Energi Listrik Batam 43% 109
Multidaya Prima Elektrindo South Sumatra Gas 74 74 75 75 73
Energi Prima Elektrika 56% 12
Medco Ratch Power Riau Riau Gas – 1,285 1,544 1,418 1,458
Multidaya Prima Elektrindo 51% 12
Total Gas-Fired IPP 1,848 3,138 3,354 3,277 3,277
Medco Ratch Power Riau 51% 275
Geothermal
Pusaka Mini-hydro 100% 9
Sarulla North Sumatra Geothermal 791 757 702 715 686
Cibalapulang Mini-hydro 70% 9
Ijen Unit 1 East Java Geothermal – – – – 257
Sarulla Geothermal 19% 330
Total Geothermal 791 757 702 715 943
Sumbawa Solar PV 50% 26
Solar PV & Other Renewables
East Bali Solar PV 51% 25
Pusaka West Java Mini-Hydro 41 42 38 44 46
Ijen Geothermal Unit 1 51% 35
Cibalapulang West Java Mini-Hydro 38 33 21 31 43
Subtotal 1,011
Sumbawa West Nusa Solar PV – 23 40 42 38
Tenggara Development
East Bali East Bali Solar PV – – – – 24 Ijen Geothermal Unit 2 & 3 51% 75
Total Solar PV & 79 98 99 116 151 West Bali Solar PV 51% 25
Other Renewables Subtotal 100
Total Power Generated Sales 2,718 3,993 4,155 4,108 4,371 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
MRPR Gas-fired, Riau
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Share Corporate
Information [OJK C.3] Data [OJK C.2] [OJK C.3] [OJK C.4] [GRI 2-1] [GRI 2-6]
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.
Company Name PT Medco Power Indonesia
Date of Establishment January 28, 2004
Suspension of Share Trading and/or Delisting Notarial Deed of Establishment of PT Medco Power Karimata No, 97 dated January 28, 2004 by
Legal Basis of Establishment
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 Notary Maria Theresia Suprapti, S.H.
never been subject to stock-trading sanctions in the form of temporary suspension of stock trading or delisting of shares.
Business Activity Electricity Generation and Operation and Maintenance Provider
Corporate Actions Authorised Capital 2,000,000,000 shares with a nominal value of Rp1,000 per share.
In 2025, the Company did not undertake any corporate actions such as stock splits, stock mergers, the issuance of stock dividends and Issued and Paid-Up Capital 1,100,000,000 shares with a nominal value of Rp1,000 per share.
bonus shares, and changes in the nominal value of shares. • PT Medco Power Internasional 51.00%
Share Ownership
• PT Medco Energi Internasional Tbk 49.00%
Share Information
• The Energy Building Floors 7th-8th, SCBD Lot 11A Jl. Jendral Sudirman Kav. 52–53,
Shareholder Composition The composition of shareholders as of December 31, 2025, is as follows: Address
Kelurahan Senayan, Kecamatan Kebayoran Baru, Jakarta Selatan 12190, Indonesia
Share Ownership at January 1, 2024 Share Ownership at December 31, 2025 Corporate Secretary E-mail: corsec.mpi@medcoenergi.com Phone: +62-21 2995 3300
Shareholder Number of Ownership Nominal Value Number of Ownership Nominal Value Website www.medcopower.co.id
Shares (%) (Rupiah) Shares (%) (Rupiah) In compliance with OJK Regulation No. 8/POJK.04/2015 regarding Public Company website.
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 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:
Total 1,100,000,000 100.00 1,100,000,000,000 1,100,000,000 100.00 1,100,000,000,000
Supporting Institutions Name and Address
Number of Shares KAP Purwanto Susanti dan Surja
(member firm of Ernst & Young Global Limited)
The Company has 1,100,000,000 shares. These are owned by PT Medco Power Internasional (51%; 561,000,000 shares) and PT Medco Public Accounting Firm
Indonesia Stock Exchange Building Tower 2, 7th Floor Jl. Jend. Sudirman Kav. 52-53,
Energi Internasional Tbk (49%; 539,000,000 shares). The Company’s shares are not listed on the Indonesia Stock Exchange and are not
Jakarta, 12190
traded to the public, as of the year ending December 31, 2025.
PT Pemeringkat Efek Indonesia (PEFINDO)
Majority and Controlling Shareholders Rating Agency Setiabudi Atrium 8th Floor, Suite 809-810 Jl. H.R. Rasuna Said Kav. 62, Jakarta 12920, Indonesia
Tel: +62-21 521 0077
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%). PT Kustodian Sentral Efek Indonesia (KSEI)
Indonesian Central Securities Depository Indonesia Stock Exchange Building Tower I, 5th Floor Jl. Jenderal Sudirman Kav. 52-53,
Share Ownership Composition of the Board of Commissioners and Board of Directors Jakarta 12190, Indonesia Tel: +62-21 515 2855
As of December 31, 2025, no members of the Board of Commissioners and Board of Directors has share ownership in the Company. Bursa Efek Indonesia (BEI)
Stock Exchange Stock Exchange Building Tower 1 Jl. Jenderal Sudirman Kav. 52-53, Jakarta 12190, Indonesia
Chronology of Listing of Shares Tel: +62-21 0800 100 9000
As of December 31, 2025, the Company has not conducted an initial public offering of shares and listed its shares on the Indonesia Stock Trustee PT Bank Mega Tbk
Exchange or any other stock exchange. Menara Bank Mega, 16th Floor Jl. Kapten Tendean No. 12-14A, Jakarta, 12790
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 Association Membership [OJK C.5] [GRI 2-28]
public company nor information related to stock splits, stock mergers (reverse stock), stock dividends, bonus shares and changes in the
The Company actively participates in industry associations related to its business activities. Through this engagement, Medco Power
nominal value of shares, implementation of convertible securities and implementation of capital additions and reductions.
contributes to policy dialogue and industry development, while enhancing institutional capabilities through collaboration and knowledge-
sharing initiatives.
Chronology of Other Securities Listing
The Company is an issuer of debt securities and sukuk that have been registered on the Indonesia Stock Exchange. 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
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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 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 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) A (Pefindo) A (Pefindo) Bond Rating A (Pefindo) A (Pefindo)
Total 258,000,000,000 258,000,000,000 258,000,000,000 258,000,000,000 Total 175.995.000.000 175.995.000.000
Unamortised Discounts (590,672,159) (320,477,920)
Unamortised Discounts (2,068,528,110) (1,570,501,721) (1,014,724,014) (394,498,125) PAID
Total Outstanding 175,404,327,841 175,674,522,080
Total Outstanding 255,931,471,890 256,429,498,279 256,985,275,986 257,605,501,875
Total Interest Expense 13,793,608,125 15,047,572,500
Total Interest Expense 27,735,000,000 27,735,000,000 27,735,000,000 27,735,000,000
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche B with Interest Rate 9.50% due on January 18, 2029
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)
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) Total 494,490,000,000 494,490,000,000
Total 43,000,000,000 43,000,000,000 43,000,000,000 43,000,000,000 Unamortised Discounts (3,261,453,025) (2,577,390,764)
Unamortised Discounts (344,754,685) (261,750,287) (169,120,669) (65,749,688) PAID Total Outstanding 491,228,546,975 491,912,609,236
Total Outstanding 42,655,245,315 42,738,249,713 42,830,879,331 42,934,250,312 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
Total Interest Expense 4,622,500,000 4,622,500,000 4,622,500,000 4,622,500,000
Bond Rating A (Pefindo) A (Pefindo)
Rupiah Sukuk Wakalah II Year 2019 Tranche C with Interest Rate of 11.1% due on May 23, 2026
Total 79,515,000,000 79,515,000,000
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Unamortised Discounts (769,724,277) (657,635,688)
Total 10,300,000,000 10,300,000,000 10,300,000,000 10,300,000,000 10,300,000,000 Total Outstanding 78,745,275,723 78,831,010,758
Unamortised Discounts (260,086,518) (212,443,649) (158,845,109) (98,546,401) (30,709,958) Total Interest Expense 7,288,875,000 7,951,500,000
Total Outstanding 10,039,913,482 10,087,556,351 10,141,154,891 10,201,453,599 10,269,290,042 Rupiah Shelf Registered Sukuk Wakalah I Phase IV Year 2025 Tranche A with Interest Rate 7.75% due on February 7, 2028
Total Interest Expense 1,143,300,000 1,143,300,000 1,143,300,000 1,143,300,000 1,143,300,000 Bond Rating A (Pefindo)
Rupiah Shelf Registered Sukuk Wakalah I Phase I Year 2022 Tranche A with Interest Rate 8.00% due on August 4, 2025 Total 125,035,00,000
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) Unamortised Discounts (334,390,114)
Total Outstanding 124,700,609,886
Total 280.000.000.000 280.000.000.000 280.000.000.000
Total Interest Expense 8,801,943,021
Unamortised Discounts (2,336,465,132) (1,491,143,000) (572,377,808) PAID
Rupiah Shelf Registered Sukuk Wakalah I Phase IV Year 2025 Tranche B with Interest Rate 9.00% due on February 7, 2030
Total Outstanding 277,663,534,868 278,508,857,000 279,427,622,192
Bond Rating A (Pefindo)
Total Interest Expense 9,271,111,111 22,400,000,000 22,400,000,000 Total 816,955,000,000
Rupiah Shelf Registered Sukuk Wakalah I Phase I Year 2022 Tranche B with Interest Rate 9.25% due on August 4, 2027 Unamortised Discounts (4,299,801,226)
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) Total Outstanding 812,655,198,774
Total 220,000,000,000 220,000,000,000 220,000,000,000 220,000,000,000 Total Interest Expense 66,786,071,250
Unamortised Discounts (3,267,703,236) (2,685,235,664) (2,044,028,099) (1,338,156,799) 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 Outstanding 216,732,296,764 217,314,764,336 217,955,971,901 218,661,843,201
Total 208,010,000,000
Total Interest Expense 8,422,638,889 20,350,000,000 20,350,000,000 20,350,000,000
Unamortised Discounts (1,606,971,570)
Rupiah Shelf Registered Sukuk Wakalah I Phase II Year 2022 Tranche A with Interest Rate 9.00% due on December 30, 2025
Total Outstanding 206,403,028,430
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) Total Interest Expense 17,949,529,583
Total 469,690,000,000 469,690,000,000 469,690,000,000 Rupiah Shelf Registered Bons I Phase I Year 2025 Tranche A with Interest Rate 8.75% due on July 1, 2030
Unamortised Discounts (1,917,509,425) (1,992,861,024) (1,042,223,123) PAID Bond Rating A (Pefindo)
Total Outstanding 467,772,490,575 467,697,138,976 468,647,776,877 Total 300,000,000,000
Total Interest Expense 117,422,500 42,272,100,000 42,272,100,000 Unamortised Discounts (3,334,963,464)
Total Outstanding 296,665,036,536
Rupiah Shelf Registered Sukuk Wakalah I Phase II Year 2022 Tranche B with Interest Rate 9.50% due on December 30, 2027
Total Interest Expense 13,343,750,000
Bond Rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Rupiah Shelf Registered Bons I Phase I Year 2025 Tranche B with Interest Rate 9.25% due on July 1, 2032
Total 130,310,000,000 130,310,000,000 130,310,000,000 130,310,000,000
Bond Rating A (Pefindo)
Unamortised Discounts (531,990,575) (1,111,159,395) (878,325,660) (621,738,000) Total 200,000,000,000
Total Outstanding 129,778,009,425 129,198,840,605 129,431,674,340 129,688,262,000 Unamortised Discounts (3,212,659,869)
Total Interest Expense 34,387,361 12,379,450,000 12,379,450,000 12,379,450,000 Total Outstanding 196,787,340,131
Total Interest Expense 9,404,166,667
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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
Corporate
Governance
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48 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 49
Corporate
Governance
Implementing Good Corporate Governance Governance Structure [GRI 2-9] General Meeting of Shareholders
Good Corporate Governance (GCG) underpins the Company’s The Company’s governance structure is established in The General Meeting of Shareholders (“GMS”), as the highest decision-making body within our corporate structure, holds the authority to
business operations and is embedded across all aspects of its accordance with Law No. 40 of 2007 concerning Limited decide on matters that are beyond the authority of the Board of Commissioners and the Board of Directors. Resolutions passed at the GMS
activities. The Company’s governance framework is founded on Liability Companies as amended by Government Regulation are implemented by the Board of Directors under the supervision and guidance of the Board of Commissioners.
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 Annual General Meeting of Shareholders for the 2024 Financial Year
enhance organisational performance, and safeguard the interests of of Government Regulation in Lieu of Law No. 2 of 2022 on On April 22, 2025, Medco Power circulated written resolutions in lieu of an Annual General Meeting of Shareholders (AGMS):
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, No. Resolution
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 To approve the annual report and financial statements for the financial year ending on December 31, 2024 and further accept
strict adherence to applicable laws and regulations, while the General Meeting of Shareholders, the Board of Commissioners, and ratify the Company’s annual report and financial statements for the financial year ending on December 31, 2024, as audited
1
continuously striving to build trust, uphold its reputation, and and the Board of Directors. To support the effective implementation by the public accounting firm KAP Purwantono, Sungkoto & Surja (Ernst & Young) as stated in Letter No. 00507/2.1032/
create long-term value for stakeholders. The Company believes of GCG, the Company has also put in place supporting functions, AU.1/02/0696-1/1/III/2024 dated March 28, 2025 with an unqualified opinion.
that strengthening the consistent implementation of governance which operate under the oversight of the Board of Commissioners To approve and grant full release and discharge to the Commissioners and Directors of the Company for the supervisory and
practices across all business units is essential to achieving and the Board of Directors. 2 management actions carried out during the 2024 financial year to the extent that such supervisory and management actions are
sustainable growth and reinforcing stakeholder confidence. 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.
Sustainability
& Risk Management
Annual General Meeting of Shareholders for the 2023 Financial Year
Committee Shareholder
On June 4, 2024, Medco Power circulated written resolutions in lieu of an AGMS:
No. Resolution
Board of Commissioners 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
Audit Committee 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.
Board of Directors
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.
Nomination and To grant authority and power to the Company’s Board of Commissioners to appoint and determine the honorarium of a public
3
Remuneration accountant to carry out the audit of the 2024 financial report.
Committee 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.
Internal Audit and Supply Chain
Corporate Secretary
Integrity Compliance Management Committee
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Corporate
Governance
Board of Commissioners Duties and Responsibilities of the BOC Board of Directors Work Guidelines and Code of Ethics
The Board of Commissioners (BOC) serves as the Company’s The duties and responsibilities of the BOC are as follows: The management of the Company's day-to-day operations falls The duties of the BOD are regulated by the Company Law and the
principal supervisory authority, entrusted with the exercise of general under the purview of the Board of Directors (BOD). Appointments Company’s Articles of Association. All members of the BOD are
Providing Oversight and Supervising the Board of Directors subject to “Work Guidelines” and “Code of Ethics” in carrying out
and specific oversight functions in strict accordance with the of members of the BOD are made by the GMS. In accordance with
1. Supervising the management of the Company by the their duties and responsibilities.
Company’s Articles of Association. In accordance with the Company the provisions outlined in the Company's Articles of Association,
Board of Directors, and approving and ratifying the
Law, the BOC fulfils its mandate not only as a supervisory body, but the BOD is authorised to represent the Company both within and
Company’s work plan and budget. Duties and Responsibilities
as a strategic governance partner, empowered to provide counsel, outside the court. Each member of the BOD is expected to conduct
2. Ensuring the Board of Directors complies with laws
strategic direction, and constructive recommendations to the Board themselves with professionalism and independence, upholding the The BOD’s general duties and responsibilities include:
and regulations.
of Directors in the pursuit of the Company’s long-term objectives. principles of integrity and prudence, and possessing the requisite
3. Providing opinions and suggestions to the Board of Directors 1. Managing and assuming full responsibility for the Company’s
experience and capability to fulfil their management responsibilities
The BOC’s supervisory mandate encompasses a broad and and supporting staff regarding the management of the operations in accordance with the purpose and objectives set
within their respective domains. While discharging their duties,
consequential spectrum of governance responsibilities. These Company. These opinions and suggestions may be provided out in the Articles of Association.
the BOD operates under the supervision and guidance of the
include rigorous oversight of the financial reporting process to at joint meetings of the BOC and Board of Directors. 2. Convening annual and extraordinary General Meetings of
Board of Commissioners.
ensure accuracy, transparency, and integrity in all disclosures made 4. Conducting research and reviewing reports provided by Shareholders, as required under applicable laws and regulations
to stakeholders. The BOC further exercises oversight of the Company’s the Board of Directors and management. Board Composition and the Articles of Association.
risk management framework and internal control systems, ensuring 5. Reporting to the GMS the results of their supervision of 3. Representing the Company both within and outside
the performance of the Board of Directors. The BOD comprises four members with varied backgrounds,
that appropriate safeguards are in place to identify, assess, and judicial proceedings.
Proposing to the GMS a competitive remuneration academic qualifications, experience, knowledge, and skills. This
mitigate risks that may affect the Company’s operational and 6.
system for compensating members of the BOC diverse yet complementary composition gives the BOD effective Meetings
financial resilience.
and Board of Directors. oversight and authority to lead and steer the Company.
In addition, the BOC maintains active oversight of audit activities The policy governing meetings of the BOD is formulated in
conducted by the Internal Audit and Integrity Compliance division, Ensuring Good Corporate Governance Skills and Experience accordance with the Company Law and the Company’s Articles
as well as those carried out by the external auditor, reinforcing a of Association. Throughout 2025, the BOD convened on a
1. Reviewing the effectiveness of the internal control system The board’s collective set of skills and experience equips them for
culture of accountability and sound governance at every level of weekly basis.
by assessing the competence and number of its employees, effective decision-making. To ensure the Board is kept up to date
the organisation. Underpinning all of these responsibilities is an on developments surrounding business, industry and sustainability
the scope of their duties and authority and the independence Joint Meetings between the BOC and the BOD
unwavering commitment to ethical values, a cornerstone of the of the internal auditor. matters, members are encouraged to regularly attend and engage
Company’s corporate identity and long-term sustainability. in suitably related events. The Company views the relationship between the BOC
2. Supervising the implementation of good corporate governance.
and the BOD as a necessary system of checks and balances,
3. Monitoring, reviewing and approving the Annual Report and
Board Composition In 2025, the Company’s BOD attended a total of 13 events, ensuring that each body carries out its duties and responsibilities
Sustainability Report to ensure integrity of content. covering topics related to the energy industry, business strategy,
The BOC comprises three members with different backgrounds, with transparency, accountability, and mutual respect. This
sustainability, and risk management. These included both local relationship is reinforced through regular joint meetings between
academic qualifications, experience, knowledge, and skills. Maintaining Independence
and regional events, which gave the BOD a wider perspective the two Boards.
This diverse yet balanced composition gives the BOC effective All members of the BOC shall maintain independence, be free from for leading the Company.
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 The specific duties and responsibilities of individual members of the BOD are as follows:
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 Name Position Duties and Responsibilities
and sustainability matters, members are encouraged to regularly each Commissioner is as follows:
attend and engage in industry and sustainability-related events. Eka Satria President Director & • Managing the Company as a whole.
Chief Executive • Serving as coordinator, communicator, decision-maker, leader, manager, and executor
No. Name Meetings Attendance %
Work Guidelines and Code of Ethics Officer in running and leading the Company.
1 Amri Siahaan 9 9 100
In the performance of its duties and responsibilities, the BOC acts in Femi Firsadi Sastrena Director & • Ensuring the Company’s business development align with company’s vision and mission.
full compliance with the Company Law and the Company’s Articles 2 Darmoyo Doyoatmojo 9 9 100 Chief Commercial • Building strategic alliances and driving innovation to support sustainability &
of Association. The BOC is further governed by “Work Guidelines” 3 M. Teguh Pamuji 9 9 100 and Business ESG-aligned development.
and “Code of Ethics”, the latter of which applies to all Development Officer
Commissioners and committees supporting the BOC in the Myrta Sri Utami Director & Chief • Organising and managing the Company’s finances.
execution of their respective functions and responsibilities. Performance Assessment of the Audit Committee and
Financial Officer • Making investment and financing decisions for the Company that support the
Nomination and Remuneration Committee
Company’s growth.
Duties and Responsibilities of the President Commissioner Performance assessment of the Audit Committee and the
Imron Gazali Director & Chief • Overseeing operating assets operations to ensure high reliability, efficiency, and performance.
The duties and responsibilities of the President Commissioner are Nomination and Remuneration Committee is regularly conducted
Operating Officer • Ensuring full compliance of regulations requirement through effective assets operation.
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.
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Corporate
Governance
The BOC regularly reviews the Company’s corporate strategy, Performance Assessment of the BOC and the BOD [GRI 2-18] Audit Committee Profile of Audit Committee Members
and approves the corporate mission, vision, and strategy
Performance Assessment of the BOC The Audit Committee serves as a key supporting organ
formulated by the BOD. The BOC also advises the BOD Ferry Sanjaya
Shareholders through the General Meeting of Shareholders of the Board of Commissioners (BOC), assisting with oversight
on strategic plans and implementation during joint meetings.
(GMS) have the right to evaluate the performance of the BOC. duties and functions. It conducts supervisory activities, provides Audit Committee Member
In accordance with the Company Law and the Company’s Articles The performance assessment of the BOC is based on the input to the Board of Directors (BOD) on financial information,
Indonesian citizen, born in 1971; domiciled in Jakarta;
of Association, the BOC and the BOD are required to convene following criteria: internal controls, strategy, and management, and reviews
Bachelor of Accounting from STIE Jayakarta (1994); appointed as a
joint meetings at least once every four months. The attendance of compliance with applicable laws and regulations.
1. Frequency of attendance at BOC meetings and meetings member of the Audit Committee based on Decree of the Board of
each member of the Board of Commissioners and the Board of Commissioners No. 037/SKMPI/BOC/IV/2018 dated April 2, 2018;
with committees. Audit Committee Charter
Directors at joint meetings in 2025 is presented below: previously served as Manager of Consolidation Report at Medco
2. Contribution to the Company’s supervision process.
3. Involvement in certain assignments. Guided by its Charter – ratified April 2, 2018, per POJK Group (1992–2016); currently also serves as President Director of
Performance Assessment of the Supply Chain No. 55/POJK.04/2015 – the Committee follows defined
4. Commitment to advancing the interests of the Company. PT Indonesia Hijau Dwidaya (2016–present) and Finance Director
Management Committee provisions on composition, structure, membership, tenure, of PT Indonesia Hijau Papan (2016–present).
The BOD has one special committee, namely the Supply Chain In 2025, the BOC effectively carried out its supervisory role over the duties, authority, and procedures. The Charter also establishes
Management (SCM) Committee, which reports to the BOD. The management of the Company, in accordance with established key a formal code of ethics for all members.
SCM Committee supports the BOD in matters pertaining to performance indicators. Hendry
procurement. The BOD assessed that, throughout 2025, the SCM Duties and Responsibilities
Performance Assessment of the BOD Audit Committee Member
Committee effectively carried out its duties and responsibilities The duties and responsibilities of the Audit Committee include,
The performance of the BOD is evaluated by the BOC and shareholders, Indonesian citizen, born in 1978; domiciled in Jakarta;
and provided the necessary recommendations to support the but are not limited to, the following:
both individually and collectively, through the GMS. The evaluation Bachelor of Economics (Accounting) from UNIKA Atmajaya
management of the Company.
of the BOD’s performance is based on the following criteria: 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/
1. Budget realisation.
2. Review financial disclosures, including statements, projections, IV/2018 dated April 2, 2018; previously served as Managing
2. Operational performance, including production volume,
and reports. Partner of Public Accounting Firm Hendry & Kasman (2017–2020),
operational costs, additional production reserves, and
3. Provide independent opinions on management-auditor disputes. Chief Financial Officer of SIS Group of Schools (May–October
occupational health and safety quality.
4. Assess adequacy of internal controls, especially financial reporting. 2016), Audit Senior Manager of PricewaterhouseCoopers Jakarta
3. Financial performance.
5. Recommend independent auditors to BOC, evaluating (2014–2016) and Audit Senior Manager of Ernst & Young Jakarta
4. Sustainable growth.
independence, scope, and fees. Audit Committee Composition (2010–2014); currently also serves as Managing Partner of Public
In 2025, the BOD delivered strong performance by achieving its Accounting Firm Hendry, Ferdy & Rekan (2021–present).
intended targets and creating value for the Company, as measured
Audit Committee Composition
against each Director’s key performance indicators. 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:
The BOC and the BOD Joint Meeting Attendance:
Name Position Total Joint Meetings Total Attendance Attendance (%)
Amri Siahaan President Commissioner 9 9 100%
Name Position Basis of Appointment Term of Office
Darmoyo Doyoatmojo Commissioner 9 9 100%
M. Teguh Pamuji Chairman Board of Commissioners Decree No. 037/SK-MPI/ April 1, 2023 –
M. Teguh Pamuji Independent Commissioner 9 9 100% BOC/III/2023 dated March 31, 2023. March 31, 2028
Ferry Sanjaya Member
Eka Satria President Director & Chief Executive Officer 9 9 100%
Hendry Member
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%
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Corporate
Governance
Profile of the Chairman of the Audit Committee • Advised BOC on public accountant selection, evaluating Nomination and Remuneration Committee Composition
independence, scope, and fees
M. Teguh Pamuji serves as an Independent Commissioner The composition of the Company’s Nomination and Remuneration Committee complies with POJK No. 34/POJK.04/2014, requiring at least
• Monitored internal audit execution and Directors' follow-up
and chairs the Audit Committee. His full profile appears in the three members, including an Independent Commissioner as Chair. Other members may include Commissioners, external experts, or HR
on findings
Company Profile chapter of this annual report. executives reporting to the BOD.
• Evaluated BOD’s risk management implementation
Independence Statement • Investigated accounting, selling, and financial reporting complaints
The composition of the Nomination and Remuneration Committee as of December 31, 2025 is as follows:
• Verified public accountants' independence and objectivity
The Audit Committee operates with full independence in fulfilling • Confirmed adequacy of external audits Name Position Basis of Appointment Term of Office
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 M. Teguh Pamuji Chair Board of Commissioners Decree In accordance with the
• Assessed and advised on potential Company conflicts of interest No. 031/SKMPI/BOC/IV/2018 Articles of Association
• No direct or indirect share ownership in the Company Amri Siahaan Member
• Safeguarded confidentiality of Company documents, data, dated April 2, 2018
• No direct or indirect business ties to the Company's operations Darmoyo Doyoatmojo Member
and information
• No affiliation as an insider with a public accounting firm, legal
consultancy, appraisal service, or other provider of audit/non-audit,
The profiles of the three members of the Nomination and Remuneration Committee can be found in the Company Profile chapter of this
assurance, appraisal, or consulting services to the Company in
annual report.
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
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Corporate
Governance
Supply Chain Management Committee By platform and function: Corporate Secretary 5. Acting as liaison between the Company, the Financial Services
Authority (Otoritas Jasa Keuangan; OJK), the Indonesia Stock
The Supply Chain Management (SCM) Committee assists the 1. Head of each platform (Gas to Power, Geothermal, Solar PV The Corporate Secretary is a governance support function that Exchange (IDX), and other stakeholders.
Board of Directors in all matters pertaining to procurement. and other Renewables, O&M). serves as a liaison between the Company and external stakeholders. 6. Leading the preparation and writing of the annual and
The SCM Committee held weekly meetings throughout the 2. VP of user related functions in procurement. The Corporate Secretary is also responsible for ensuring that sustainability report and ensuring that they are prepared in
course of 2025. material information relating to the Company and its business accordance with regulations set out by OJK.
Procedure for meetings of the SCM Committee: activities is disclosed accurately and in a timely manner. 7. Reviewing and advising the Company and its subsidiaries on
Duties and Responsibilities
1. The committee and sponsor hold regular meetings once a week corporate social responsibility and reporting to stakeholders.
The SCM Committee has the following duties and responsibilities:
Duties and Responsibilities
or as needed.
2. Each committee member can give approval outside the meeting The duties and responsibilities of the Corporate Secretary, Corporate Secretary Profile
1. Evaluate contract strategy recommendations. in accordance with POJK No. 35/POJK.04/2014, are as follows:
or appoint a substitute if unable to attend. The Company appointed Fajrah Lestari Akili as Corporate Secretary
2. Evaluating recommendations for appointing successful bidders
3. Written resolutions can be circulated to replace meetings based on the Decree of the Board of Directors No: SK-098/MPIHR/
and awardees. 1. Assisting the Board of Directors (BOD) and Board of
if necessary. DIR/VII/2023 dated July 1, 2023.
Commissioners (BOC) in implementing corporate governance
Limits of Authority of the SCM Committee 4. The Committee Secretary will send meeting discussion
in the Company and its subsidiaries pursuant to company law, The brief profile of the Corporate Secretary is as follows:
materials no later than one day before the meeting.
The SCM Committee evaluates and approves procurement capital market regulations, and shareholder agreements by:
5. Functions involved in matters on the agenda are required to
processes that are worth more than USD100,000, or for critical (i) preparing and organising the convening of BOD, BOC, Fajrah Lestari Akili
attend the Committee meeting; they can attend via teleconference.
and immediate needs. and shareholders regular and extraordinary meetings;
6. At the end of each tender discussion process, the approval Corporate Secretary
(ii) preparing the meeting agenda, reviewing and distributing
document will be circulated to be signed and uploaded to the
SCM Committee’s Organisational Structure the meeting materials; (iii) documenting the meetings of Indonesian citizen, born in 1980; domiciled in Jakarta; Bachelor
Company’s Business Process Management system.
the BOD, BOC, and shareholders; and (iv) taking and distributing of Laws, Faculty of Law, University of Indonesia; Master of
In 2025, the Company maintained the structure of the
the meeting minutes. Notarial Law, Jayabaya University; appointed as Corporate
SCM Committee, as follows: Sustainability & Risk Management Committee Providing input to the BOD and BOC on compliance and
2. Secretary and Senior Manager Corporate Communication
1. Chief Executive Officer as the Chair of the Committee. The Sustainability & Risk Management Committee (SRMC) was legal matters relating to company law and capital market law. based on Decree of the Board of Directors of PT Medco Power
2. Chief Financial Officer as a Member of the Committee. established to provide advice and support to the Board of Commissioners 3. Disclosing information and managing capital market reporting Indonesia Number: SK-098 / MPI-HR / DIR / VII / 2023 concerning
3. Vice President Supply Chain Management as the Secretary in the oversight of group level risk management frameworks and to the public on the website, through press releases and the Change of Corporate Secretary of PT Medco Power Indonesia;
of the Committee. practices implemented across the Company and its subsidiaries. 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.
Transactions sponsors consist of platform leaders and Duties and Responsibilities capital market.
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. Corporate Secretary Trainings
2. Ensuring that an effective risk management system is in
Pre-operation stage: Director & Chief Commercial and Business In 2025, the Corporate Secretary took part in the following seminars organised by various institutions:
1. 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. 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)
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Corporate
Governance
Internal Audit and Integrity Compliance The duties and responsibilities of the Internal Audit and Integrity Training and Competency Development
Compliance team related to integrity compliance are as follows:
Internal Audit and Integrity Compliance is a supporting organ of the In 2025, staff from Internal Audit and Integrity Compliance participated in the following training sessions to raise their competency and
Board of Directors (BOD) that provides independent and objective 1. Creating and implement ethics and integrity compliance performance levels:
recommendations and advice. It evaluates the adequacy of programmes across Medco Power and its subsidiaries; review
No. Training Date Organiser/Provider
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, 1 Ideagen Audit Management System January 19, 2025 Insight Consulting
effective implementation of comprehensive governance. procedures, and their implementation; analyse ethical violation 2 Know How About Inspection February 3, 2025 MedcoEnergi – Asset & Operating Integrity
trends and produce recommendations and reports.
Internal Audit and Integrity Compliance Charter 3. Conducting anti-bribery and corruption audits of contractors; 3 IT Control & Cyber Security February 4, 2025 MedcoEnergi – DIT (Digital Information Technology)
The Internal Audit and Integrity Compliance Charter was ratified on educate contractors on compliance programmes. 4 Journey to CISA certification February 4, 2025 MedcoEnergi – Audit & Integrity Compliance
April 4, 2018, and is prepared in accordance with POJK No. 56/ 4. Maintaining Company's ISO 37001 Anti-Bribery Management
System certification. 5 Industrial Control System Security February 19, 2025 Crowe Indonesia Teknologi
POJK.04/2015 concerning the Formation and Preparation of the
Internal Audit Unit Charter. The Charter serves as a guiding 5. Conducting campaigns, deliver training, and promote ethics/ 6 Medco E&P Industrial Control System February 19, 2025 MedcoEnergi – PDEE (Project Development &
framework and code of ethics for all members of Internal Audit and compliance programmes for employees, subsidiaries, and Security Standard Engineering Excellence)
Integrity Compliance in the performance of their duties and business partners.
7 Know How About Logistic March 3, 2025 MedcoEnergi – Logistic
responsibilities. 6. Ensuring Directors, management, and employees (head office
and subsidiaries) complete annual Code of Conduct Adherence 8 Overview IFRS S1 & S2 – IFRS Sustainability July 1, 2025 Deloitte Konsultan Indonesia
Among others, the Charter governs the following aspects of the and Conflict of Interest declarations. Disclosure Standard
Internal Audit and Integrity Compliance function: 7. Ensuring compliance with rules/regulations, adherence to 9 Renewable Session: RUPTL PLN July 1, 2025 Medco Power Indonesia
Company policies/procedures, and alignment with the Code of
1. Structure and position. 10 GAIA Sustainability Sharing Session August 4, 2025 MedcoEnergi – Audit & Integrity Compliance
Conduct across the organisation.
2. Duties and responsibilities.
3. Requirements and code of ethics. 11 Lead Auditor: ISO 37001 Anti Bribery August 25–29, 2025 TUV NORD Indonesia
Authority and accountability. Management System
4. Profile of the Manager of Internal Audit and Integrity Compliance
12 Fraud Auditing November 10-11, 2025 IIA Indonesia
Duties and Responsibilities Nyimas Dewi Andriani, Manager of Internal Audit and Integrity
Compliance, reports directly to the President Director. Her profile 13 Investigative Interview (Micro Expression) November 18-19, 2025 Expertindo
The duties and responsibilities of the Internal Audit and Integrity Based on NLP
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 Conducted Activities in 2025 Third-party compliance programmes, including:
2. Test and evaluate internal controls per Company policies.
Indonesian citizen, born in 1984, domiciled in Jakarta; graduated • Vendor audit: conducted ABC (Anti-Bribery and Corruption) Audit to
3. Conduct inspections and assessments of efficiency and In 2025, Internal Audit and Integrity Compliance conducted
with a Master’s degree in Management from the University three vendors
effectiveness in finance, accounting, operations, HR, marketing, the following activities in accordance with its duties and
of Indonesia (2019); holds professional certifications including • Due diligence: conducted due diligence on three vendors
IT, and other activities. responsibilities as set out by the Internal Audit and Integrity
Certified Compliance & Ethics Professional – International (CCEP-I), • Business ethics session during Vendor Gathering for MEB and ELB
4. Provide improvement recommendations and objective Compliance Charter:
PECB Certified ISO 37001 Lead Auditor, PECB Certified ISO 37001 on May 9, 2025 at Batam to communicate Company requirements
information on audited activities to all management levels.
Lead Implementer; appointed as Manager of Internal Audit and • General Audit, including audit selected subsidiaries such and policies
5. Prepare audit reports and submit them to the BOD and BOC.
6. Monitor, analyse, and report on implementation of Integrity Compliance on November 1, 2025; previously served as MSBT Employee & Organisational Initiatives
recommended improvements. as Manager of Ethics & Compliance Corridor and Onshore at • Audit of Anti-Bribery Management System certified under ISO • Regular communication & education on business ethics for
7. Collaborate with the Audit Committee. PT Medco Energi Internasional Tbk (2022-2025) and Manager of 37001:2016 across Head Office and operating employees across the Company and its subsidiaries
8. Develop programmes to evaluate Internal Audit and Integrity General Audit at PT Medco Energi Internasional Tbk (2021-2022). • 1st Surveillance Audits: MEB, ELB, TJBPS, MRPR • Strengthening compliance champion programme to foster integrity
Compliance quality as needed. • 2nd Surveillance Audits: Medco Power Head Office, BJI, and ethical awareness
9. Conduct special inspections when required. Meetings PPP, MPE, EPE • Ensuring completion of mandatory annual declaration of Statement
of Adherence to the Code of Conduct and Conflict of Interest
In 2025, Internal Audit and Integrity Compliance held five meetings • Monitoring follow-up audit recommendation for BJI, TJBPS,
• Reviewing and analysing activities involving giving and receiving
with the BOD and four meetings with the Audit Committee. MRPR, MPSI, serta SOL
gifts and entertainment and hosting government
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.
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60 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 61
Corporate
Governance
Appointment of Public Accountant Risk Management System Risk Profile
Throughout 2025, the Company carried out risk mitigation actions for the following identified risks to the business:
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 Risk Description Risk Mitigation
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 Company depends on • Tariff risk for an IPP with PLN as the sole off-taker refers to the uncertainty that the agreed PPA tariff
with prior recommendations of the Board of Commissioners (BOC) January 19, 2025 and amended on January 23, 2025. This system is PLN as its main customer may become economically insufficient or be adversely affected by regulatory intervention. In Indonesia’s
and the Audit Committee. designed to proactively anticipate and address strategic, operational, in Independent Power regulated electricity market, tariff structures are influenced by government policy objectives such as
financial, and compliance risks, thereby supporting business Producer (IPP) activities. affordability, and subsidy.
In accordance with POJK No. 37/POJK.03/2019 concerning resilience, stability, and long-term sustainability amid dynamic • PLN’s procurement is closely linked to government planning documents (e.g., RUPTL) and regulatory
Transparency and Publication of Bank Reports and POJK No. 9 economic and industry conditions. approvals, projects can be postponed, re-scoped, or cancelled due to policy shifts, demand revisions,
of 2023 concerning the Use of Public Accountant Services and or budget constraints. For developers, this creates significant development risk: bid preparation costs
Public Accounting Firms in Financial Services Activities, as well as Risk Governance Structure (technical studies, land securing, bid bonds, consortium structuring) are incurred upfront without certainty
the resolutions of the AGMS, the BOD is authorised to appoint an of award. Prolonged delays between bid submission, LOI issuance, and PPA signing can further expose
The Company’s Risk Governance Structure is depicted through the
independent public accounting firm and determine the honorarium sponsors to FX fluctuations, cost escalation, and financing market volatility, ultimately affecting project
following diagram. It denotes a clear line of authority for Enterprise
and terms of engagement with the approval of the BOC. viability and bankability.
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 Company’s gas-fired • Cooperate with suppliers who have good capabilities and reputations, such as PGN, Pertamina and the
audit the Company’s financial statements for financial year 2025.
level’s key responsibilities. 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.
Strategic level
el
Performance of the The Company carries out drilling campaigns as accurately as possible, including make-up well drilling, to
Lev
• Issues directives to align risk management with overall •
SRMC Company strategy Company’s geothermal maintain the quantity of steam needed for electricity production. This is in accordance with technical studies
gic
• Authorises changes to the Company’s risk policy power plants depends on conducted by competent third parties.
ate
• Reviews key risks escalated by the Board of Directors (BOD) the quantity and quality
Str
• Provides recommendations to the Board of Commissioners 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
vel
Tactical level majeure due to government action (government force majeure).
l Le
• Ensures and oversees implementation and • The Company strengthens Operational Excellence by embedding hazard control, maintenance, and reliability
BOD effectiveness of risk management processes
tica
practices throughout its operations.
• Periodically reviews all key risks
Tac
• Reviews and recommends improvements to risk
Tight competition from • As a reputable Indonesian power developer with a proven track record in developing, financing, and
management processes 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
el
participation objectives.
Lev
Operational level • The Company cooperates with global players in the power generation industry who have experience in
nal
ERM Function / Functional Head / Subsidiary Directors developing power generation projects, operating and maintaining power generation projects and providing
• Implement risk management processes
tio
• Track risk indicators
technology for equipment related to power generation projects.
Function / Subsidiary Risk Champions
era
• Reports risks to the BOD Increases in interest rates • The Company conducts interest rate swaps to mitigate risk of rising interest rates.
Op
Risk Owners 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.
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62 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 63
Corporate
Governance
Risk Description Risk Mitigation 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
Updated provisions on PJBL • The Company conducts legal gap analysis on existing PJBL.
its assets and investments. Features of the system include: reporting mechanism for employees and stakeholders and forms
structure (term, performance • The Company integrates regulatory flexibility clauses in new contracts.
an integral part of its governance framework. The system enables
obligations, tariff adjustment, • The Company conducts cross-functional review (legal, commercial and finance). 1. A disciplined and structured internal control environment. the safe and confidential reporting of alleged violations or other
guarantees, and dispute 2. Business risk assessment and management. matters that contravene business ethics.
resolution), may require 3. Control activities.
existing or future contracts 4. Information and communication systems. The whistleblowing system also functions as an early detection
to be amended. 5. Supervision. mechanism, accessible to both internal and external stakeholders,
Projects not listed or • The Company actively monitors RUPTL updates. for reporting suspected violations based on evidence and good
reprioritised in RUPTL • The Company carries out early alignment of project pipeline with PLN and ESDM, as well as national
Implementation of Financial, Operational, and intentions. The Company is committed to fostering an honest and
may not be recognised as energy targets. Compliance Control Supervision integrity driven work environment and ensures that all reports
national priority projects, • The Company maintains flexible capital allocation. Financial, operational, and compliance control supervision is are followed up professionally and in accordance with applicable
affecting approval and conducted on a comprehensive and continuous basis to ensure regulations and guidelines.
development timeline. good corporate governance. Each division within the Company and
Protection for Whistleblowers
Operational activities • The Company conducts periodic licensing compliance audit. 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
or capacity expansion • The Company conducts timely update of OSS-RBA documentation.
by management. The Internal Audit and Integrity Compliance by keeping their identity confidential, and providing them with
without proper OSS-RBA • The Company conducts centralised monitoring of subsidiary permits.
function supports management by conducting risk based audits protection from threats that could potentially arise from their
adjustment results in • The Company stays in constant communication with the authorities.
of the internal control system and recommending improvements. reporting of violations.
non-compliance to licensed
business scope (IUPTL). 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
In addition to the aforementioned risks, the implementation of the Statement of the Board of Directors and/or and ethical standards to maintain integrity and stakeholder trust. of alleged violations and takes appropriate actions to resolve the matter
Minister of Energy and Mineral Resources (MEMR) Regulation No. Board of Commissioners on the Adequacy of the RMS and prevent recurrence. Where a report is found to be unsubstantiated,
11 of 2024 concerning the Use of Domestic Products for Electricity Reviewing the Effectiveness of the Internal Control System the investigation will be terminated and the case closed.
Based on management’s evaluation, the implementation of
Infrastructure Development also impacts on electricity investors, Management evaluates the internal control system in each division
the Company’s risk management system is assessed to be Reporting Mechanism
such as the Company. Potential impacts include delayed schedules from time to time. Evaluation results inform necessary improvements
adequate in managing the risks faced. During 2025, the Company
and increased project costs due to the following: and enhancements. The Company has established whistleblowing channels for both
encountered various uncertainties that had the potential to affect
its performance. internal (Internal Ethics Hotline) and external (External Ethics Hotline)
1. The Company must comply with rules on using domestic Statement of the Board of Directors and/or Board of stakeholders, enabling anonymous reporting of potential violations
products, which may be more expensive or limited in availability. Commissioners on the Adequacy of the Internal
In addressing these risks, the Company implemented a and misconduct in good faith.
If domestic products do not meet the required standards, Control System
comprehensive risk management system aimed at mitigating
additional costs may further arise from needing to procure Since 2010, Deloitte has managed the Company’s whistleblower
potential exposures and strengthening risk management In 2025, the Board of Commissioners, the Board of Directors,
compliant products. system. Deloitte screens and categorises each report, may request
and control. Measures undertaken include the establishment and the Audit Committee conducted a comprehensive evaluation
2. Meeting the mandatory percentage of domestic products, additional information or supporting documents from the whistleblower,
of policies and mechanisms, the setting of risk limits, of the Company’s internal control system. Based on management’s
especially for advanced technologies, may be difficult. and then submits reports to MedcoEnergi Corporate for investigation
risk identification, measurement and monitoring, the assessment, the internal control system is considered effective
implementation of information systems and risk controls, and necessary follow-up actions.
Nevertheless, the enactment of this regulation promotes the use and adequate in supporting the achievement of business objectives,
of domestic products, which can serve to encourage the growth of as well as the application of an internal control system to without compromising financial performance, regulatory compliance, Internal and external whistleblowers can report violations through
local industries and create new opportunities for adaptive investors. support effective risk management. or the Company’s reputation. the following channels:
Periodic Review of the RMS
The Company periodically reviews the effectiveness of its RMS.
This review is conducted by Internal Audit and Integrity Compliance External
Internal
in accordance with established procedures, and the results are (managed by appointed independent party)
used to enhance and strengthen the effectiveness of the risk
management system. 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/
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2025 Management Business Company Corporate Sustainability
64 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 65
Corporate
Governance
Incident Disclosure Bribery and Corruption Policy and applicable anti-corruption Good Corporate Governance Guidelines Sanctions for Violations of Business Ethics
regulations. To ensure consistent understanding and effective
The Company is committed to fostering a culture of integrity The Good Corporate Governance Guidelines set out the Where a violation of business ethics is substantiated,
implementation, the Company conducts periodic communication
and ethical conduct across all levels of the organisation In 2025, principles governing the roles and responsibilities of the the Company will impose sanctions in accordance with
and education initiatives related to the policy.
the Company received seven alleged violations, of which four Board of Commissioners (BOC), the Board of Directors (BOD), established regulations and guidelines, which may include
incidents were resolved. Another three cases are currently Statement of Adherence to Code of Conduct employees, and all stakeholders in the Company’s business reprimands, warnings, suspension, and termination
under review. activities. The Guidelines also regulate the implementation of employment.
All Directors, Commissioners, and employees of MedcoEnergi of the duties and responsibilities of each governance organ.
Anti-Bribery and Corruption Policy and its subsidiaries affirm that, in conducting business activities, Legal Cases with Material Impact
The Company has established an Anti-Bribery and Corruption Policy,
they consistently apply the principles of good corporate governance Code of Conduct In 2025, there were no legal cases with material impact faced
(GCG) and comply with applicable laws and regulations. MedcoEnergi
which stipulates that all individuals within the Medco Power Group The Company has established a Code of Conduct that articulates its by the Company, its subsidiaries, members of the BOD or
and its subsidiaries are also committed to implementing GCG in
are prohibited from giving or receiving, directly or indirectly, any core values of professionalism, ethics, openness, and innovation. members of the BOC.
accordance with prevailing regulatory requirements and provisions.
form of benefit that may improperly influence decision making The Code guides all individuals in the performance of their duties and
or result in personal or third party gain. The policy is supported All levels of the MedcoEnergi organisation are responsible responsibilities, with the objective of safeguarding the interests of the
by programmes and procedures designed to ensure compliance, for implementing and complying with the principles of GCG. Company, its shareholders, and stakeholders in the short and long-term.
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
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2025 Management Business Company Corporate Sustainability
66 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments 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
Sustainability
Report
Mangrove Planting Programme, Batam
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2025 Management Business Company Corporate Sustainability
68 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 69
About the Material Topics Determination
Sustainability Report and List Process [GRI 3-1] [GRI 3-2]
This Sustainability Report serves as a relevant, and balanced information to Social, and Governance (ESG) performance Material topics are the key sustainability and external stakeholders. The materiality eight key areas are highlighted as high
key communication tool through which support stakeholders’ understanding of during the reporting period, aligned with matters that significantly affect both Medco assessment, previously conducted in 2022, importance for 2025: Energy, Business
Medco Power explains how sustainability how sustainability is managed and how relevant national and international Power Indonesia and its stakeholders. continues to provide relevant insights for Ethics, Economic Performance, Emissions,
considerations are embedded across associated risks and opportunities are sustainability frameworks such as the Identifying and prioritising these topics the 2025 reporting period. Stakeholder input Biodiversity, Occupational Safety and Health,
its business activities and governance addressed across the organisation. Indonesian Financial Services Authority helps the Company focus on areas with has enabled the Company to pinpoint Local Communities, and Labour Practices.
structures. It provides context on the Regulation (Peraturan Otoritas Jasa the greatest impact, manage risks, enhance matters that significantly impact its
Company’s sustainability framework, Building on this context, the 2025 Keuangan/POJK) and Global Reporting performance, and align its strategies with operations and are of primary concern. The management of key ESG risks related
scope, reporting boundaries, and Sustainability Report presents Medco Initiatives (GRI). The report also illustrates global sustainability standards and the Topics of highest priority are actively to these material topics can be found in this
management approach, forming the Power’s continued commitment to how responsible business practices Sustainable Development Goals (SDGs). managed to reduce negative impacts, report’s Sustainability Governance Chapter,
foundation for the topics explored in the integrating sustainability into its business support long-term value creation and enhance operational performance, and as detailed on page 80, and are further
following chapters. Through this report, operations and decision-making processes. sustainable development. Building on this approach, the Company advance the Company’s sustainability goals supported by the Climate Change and
Medco Power aims to present clear, It outlines the Company’s Environmental, 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.
• 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
High
•
[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.
Influence Stakeholder Assessments and Decision
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.
Medium
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
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
Stakeholder Engagement, East Java
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2025 Management Business Company Corporate Sustainability
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Material Topics Determination
and List Process
Impact Boundaries and Management Approaches on Material Topic [GRI 3-3]
Business Ethics
Energy
Affected Stakeholders
Affected Stakeholders Shareholders, employees, Government, and business partners
Shareholders, employees, suppliers, communities, and customers Description Strategy and Initiatives Achievement
Description Strategy and Initiatives Achievement The Company continuously • Implementing ISO 37001:2016 Anti-Bribery Internalisation of Company Ethical Value
Energy is a key resource • The Company is responsible for identifying and • Expansion on portfolio of clean and renewable strives to embed the Management System (ABMS) certification Strategic Objective: Raise Employee Awareness and
with significant impacts on advancing power plant development programmes energy power plant principles of Good across the Company’s Head Office Promote the Implementation of Company Ethical Value
the Company’s stakeholders. based on clean and renewable energy, coordinating • Using technology and resources more efficiently Corporate Governance and subsidiaries. in Operational Activities.
Through effective energy their implementation, and preparing strategic plans to (GCG) into Medco Power’s • Issuing an Anti-Bribery & Corruption • 4 Business Ethics Inductions to New Hires, with outreach
management, the Company enhance power plant efficiency and increase the organisational culture. Management Commitment declaration. to 43 employees
enhances process and share of clean energy. • Holding compliance champions programme in • 3 Specific Ethics Sessions – General Ethics & Compliance
equipment efficiency while • Driving the energy transition by targeting renewable each subsidiary. Session for EPE, MPGS & MCG and Compliance Champion
increasing the utilisation of energy to account for 30% of total installed capacity • Establishing procedures regarding anti-bribery Workshop with outreach to 89 employees
renewable energy sources. by 2030. 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
Economic Performance • 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
Affected Stakeholders
Compliance and Conflict of Interest.
Shareholders, employees, suppliers, communities, customers, and government Seeking Guidance
• Conducting Business Ethics induction to
Description Strategy and Initiatives Achievement provide information and raise ethics and Strategic Objective: Provide Guidance for employees on
Beyond its own economic • The Board of Directors oversees planning, • Revenue in 2025 reached Rp2,931.99 billion 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,
performance, the Company’s evaluation, and supervision to ensure that
business activities are activities align with established targets. Compliance Programme to both employees Gift & Entertainment, and Government Hosting
expected to contribute and third parties.
Compliance Champion Programme
positively to local, regional, Strategic Objective: Grassroot Support of Business Ethics
and national economies. 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
Sarulla Geothermal, North Sumatra
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2025 Management Business Company Corporate Sustainability
72 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 73
Material Topics Determination
and List Process
Impact Boundaries and Management Approaches on Material Topic [GRI 3-3] (Continued)
Local Community
Emission
Affected Stakeholders
Affected Stakeholders Government and local communities
Shareholders, employees, communities, customers, and government Description Strategy and Initiatives Achievement
Description Strategy and Initiatives Achievement Communities are the • Empowering communities by providing training • Empowering women through financial literacy
Emissions, including • Expanding natural gas production and its use in • All power plants have complied with emission Company’s closest and guidance in designing and managing training programmes and sewing machine assistance
greenhouse gases, electricity generation. parameters that meet quality standards as per stakeholders, directly small businesses. • Providing electrical installations to support
contribute to climate • Exploring investment opportunities in applicable regulations and policies experiencing both • Implementing programmes to improve community activities
change. Accordingly, the Gas to Power projects. • Selling renewable energy amounting to 25% of positive and negative community health. • Offering educational programmes and facilities such
Company is committed • Developing power plants based on renewable the total electricity sold impacts, making the • Supporting the development and enhancement as reading and counting programmes, as well as
to reducing its emissions energy sources. • Operating 32% clean energy from the total overall management of these of infrastructure in operational areas. reading gardens
in line with government • Assessing the feasibility of implementing existing O&M service operations impacts a key responsibility • Promoting initiatives to improve education within • Accepting internship students to enhance their
strategies and initiatives. renewable energy technologies. • Development of the ecosystem for electric for the Company. the community. competencies before entering the workforce
vehicles (EV) • Improving infrastructure such as roads, places of
• Implementation of emission control worship, and sports facilities
• Monitoring greenhouse gas (GHG) emission intensity • Participating in community activities such as religious
• Conducting Climate Change Risk Assessment (CCRA) events, Independence Day celebrations, and others
and supporting climate change mitigation actions • 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
Environmental Conservation and Biodiversity
Affected Stakeholders
Shareholders, employees, communities, customers, and government
Employment Practices
Description Strategy and Initiatives Achievement
Affected Stakeholders
Environmental preservation • Communicating environmental regulations across • Environmental permits for each project carried out
Employees, government, and business partners
and biodiversity are Medco Power and all subsidiaries. • Reporting monitoring results to environmental
key commitments of • Managing environmental permits for each agencies Description Strategy and Initiatives Achievement
the Company, aimed at new project. • Conducting tree planting of more than 140,000 Employee recruitment, • Recruiting talent that aligns with the Company’s • Recruiting 87 workers at Head Office, subsidiaries,
maintaining a balance • Conducting environmental monitoring and reporting. seeds in all assets (included compliance and placement, and competency and performance standards. and projects
between the ecosystem • Implementing tree-planting initiatives. beyond compliance) development are carried • Developing and implementing policies, procedures, • Implementing 5,925 hours of training attended by
and the sustainability of • Raising awareness of sustainability and climate out in alignment with and business process management across 3,721 participants during 2025
its operational activities. change through e-learning programmes. 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
Occupational Health and Safety to meet Operations & Maintenance (O&M) standards.
• Aligning business processes and support functions
to optimise human resources between the Head
Affected Stakeholders
Office and subsidiaries.
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.
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74 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 75
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 Successful implementation requires Commitment to Human Rights • Human Rights Protection: Ensuring fair
rapidly evolving landscape, Medco Power With this core strength, the Company is also guide the selection of Medco Power’s Medco Power to continually monitor working conditions, recognising union
continues to strengthen its progress and better positioned to manage external material topics, ensuring that the issues the progress of its sustainability strategy. As outlined in our sustainability strategy rights, and maintaining zero tolerance for
growth by embedding sustainability responsibilities, including preserving nature highlighted in the previous chapter This is carried out by translating sustainability under the Environmental and Social child labour, modern slavery, harassment,
principles into its business, ensuring and environment which includes mitigating (see pages 69–73) reflect the Company’s strategy into Key Performance Indicators Development pillar, and reinforced as a and discrimination.
positive impacts for all stakeholders. climate change, and supporting social sustainability priorities and long-term (KPIs) and Team Performance Contracts priority in the first year of MedcoEnergi • Vulnerable Groups: Identifying and
well-being to maintain harmony between commitments. As one of the areas derived (TPCs), which are cascaded from top Sustainability Roadmap 2023-2027, the addressing risks faced by minorities,
Medco Power understands that achieving value creation and community contribution. from the environmental pillar and also management to operational levels and commitment to human rights remains women, children, and migrant workers.
sustainable growth requires a balanced reflected in the material topics, Medco Power reviewed by the Board of Directors on a fundamental. As part of the Medco Group, • Partner Accountability: Requiring business
approach to creating value for the Three Pillars of Sustainability recognises the importance of addressing quarterly basis. This Sustainability Policy Medco Power also adheres to the partners to comply with our Code of
enterprise, stakeholders, and the climate-related risks and opportunities and is mandatory and applies to all workers MedcoEnergi Human Rights Policy, which Conduct and Supplier Code to ensure
environment. Through a collaborative and Medco Power’s sustainability strategy is includes the following key commitments:
implements a dedicated Climate Change and business units. legal and ethical standards.
innovative approach, the role of employees guided by the Three Pillars of MedcoEnergi
Strategy to support this effort. Further details Respect for Human Rights: Upholding • Grievance Mechanisms: Providing
and leadership forms a resilient internal Sustainability to ensure consistent •
implementation and alignment with the
on the strategy are available on page 78. Sustainability Roadmap principles from the Universal Declaration channels for addressing concerns,
system that supports the Company in with clear procedures for investigation
Medco Power understands that of Human Rights (UDHR), International
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,
Leadership of and by Environmental and Local Community Human Rights (UNGPs), Voluntary Principles Risk Management Division, and functional
which defines targets and long-term
teams to ensure accountability.
Our Employees Social Development Empowerment direction for the Group. Within the on Security and Human Rights (VPSHR),
• Due Diligence: Implementing human rights
MedcoEnergi Sustainability Roadmap and IFC Performance Standards.
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,
Our people are our most valuable asset. As a responsible corporate citizen, we are MedcoEnergi endeavours to be a and Security.
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,
MedcoEnergi Sustainability Report 2023-2027
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 2023 2024 2025 2026 2027
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, • Update goals and • Develop a Just • Reduce 20% of Oil & • Internal carbon • Further integrate
All levels of our management are environmental stewardship, and the KPIs based on the Transition plan Gas Scope 1 & 2 pricing and carbon sustainability into
expected to set clear directions ongoing adoption and development of 2022 materiality • Embed Climate GHG emissions trading: credits business to enhance
towards our expectations. best practices. We are committed to assessments Change Strategy in • Reduce 25% of and offsets value creation
complying with all applicable laws and • Enhance corporate business methane emissions for • Partnership • Reach Top Quartile
regulations, to respecting human rights sustainability & and financial plans our Oil & Gas business programmes ESG performer in the
in line with the UN Guiding Principles climate change • Enhance governance, • Increase installed to promote data Oil & Gas Exploration
for Business and Human Rights and the capabilities systems, capability renewable energy transparency and and Production Sector
Voluntary Principles on Security and • Establish Human building for capacity by 26% implement best in Southern Asia
Human Rights, and to learning from Rights Policy human rights • Disclose Scope 3 practices along • Maintain or improve
and applying industry best practice and • Conduct a GHG emissions the value chain MSCI score of an A,
relevant international standards. quantitative • Commit to upstream and CDP Climate
climate-related Carbon Capture Change score of a B
risk assessment and Storage (CCS) • Materiality assessment
Governance as the As the element that interconnects and strengthens all sustainability pillars, Medco pilot project update for the next
five-year roadmap
Foundation of Sustainability Power’s governance framework supports the effective implementation of our initiatives.
Details on sustainability governance can be found on page 80.
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76 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 77
Sustainability
Strategy
Supports for Sustainable The Company ensures that its sustainability the role of employees, the three key pillars,
UN SDGs Activity Support
strategy, material topics, climate change and the sustainability roadmap, Medco
Development Goals efforts, and human rights commitments are Power strives to advance responsible SDG 4: • Brought a meaningful impact to the community through the “Karyawan Mengajar” (Employee Teaching)
As part of its commitment to creating aligned with these global goals. By integrating growth while contributing to community Quality programme in Batam to deliver essential topics such as HIV/AIDS awareness, drug prevention, climate change,
sustainable positive impact, Medco Power sustainability principles into business and welfare and environmental preservation Education operation and maintenance of power plants, workplace safety, and proper use of fire extinguishers (APAR).
continues to support the achievement of operational practices, and by strengthening across its operational areas. • Provided education on tuberculosis, emphasising the importance of treatment adherence, infection prevention,
the Sustainable Development Goals (SDGs). 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.
UN SDGs Activity Support • Provide reading parks to support educational facilities in Sopo Malo to increase students interest in reading.
SDG 3: • Participation in the free electricity installation programme for underprivileged households in Batam and Cianjur Region. • Strengthens Women’s Empowerment in Tenayan Raya through Posyandu Cadre Training.
Good Health • Conducting a health education session and donating to drug-resistant tuberculosis (TB-RO) patients at Embung • Health and hygiene education for children in PAUD Cahaya Melebung through Integrated Early Childhood Healthy
and Well Being Fatimah Regional General Hospital in Batam. Learning Programme in Riau.
• Completed a Watershed Rehabilitation (DAS) programme in the Special Purpose Forest Area of Bukit Suligi Training • Renovation of PAUD Cahaya Melebung and Education on Clean and Healthy Living for Early Childhood in Melebung
Forest, Rokan Hulu Regency, Riau Province. Subdistrict, Riau.
• Participated in a Plastic Waste Cleanup Action around the Horizon Industrial Area, Sungai Lekop Village, Sagulung SDG 7: • Deliver lessons on geothermal power plants and how they generate electricity using geothermal energy at SMKN 1
District, Batam City for World Environment Day 2025. Affordable and Sempol in Ijen.
• Carried out health check-up activities for residents of Dusun Curah Macan, Ijen District. Clean Energy • Installation of electric vehicle charging stations to the use of electric cars in operational areas.
• 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.
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.
Employee Teaching Programme, East Java
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78 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 79
Climate Change
Management [OJK B.2]
As part of its role within MedcoEnergi, In response to the growing challenges Climate Change Strategy Clean and Realisation Target In 2025, a qualitative assessment was
Medco Power contributes to climate change posed by climate change, Medco Power conducted for six assets exposed to
management by advancing lower-carbon recognises the importance of managing Recognising that climate action requires collective Renewables identified climate hazards, with exposure
power generation. Through the focus on climate-related risks while capturing effort, Medco Power adopts all climate-related Installed levels classified into five categories,
actions and plans with the MedcoEnergi Climate
electricity provision from gas and renewable opportunities from the energy transition.
Change Strategy. As part of its pathway toward
Capacity as presented in the table.
energy sources, Medco Power supports Minimising impacts on the climate
the reduction of MedcoEnergi’s overall system and associated ecosystems achieving its Net Zero Target, Medco Power plays A quantitative assessment was also
a key role in the MedcoEnergi’s Transition to 77% 77% 77% 74% 70% conducted in 2025 for Sumbawa Solar PV
greenhouse gas emissions. These efforts forms part of the Company’s responsible
reflect Medco Power’s responsibility to business practices to support long-term Low-Carbon Energy strategy. This strategy focuses IPP to evaluate the impacts of extreme
support MedcoEnergi’s broader climate resilience. To advance its climate on growing gas as a transition energy source heat and extreme rainfall-induced flooding.
commitments while strengthening the aspirations, the Company considers a through portfolio expansion and opportunities such For extreme heat, the assessment was
resilience and competitiveness of the structured pathway supported by a as gas to power, while simultaneously expanding based on projected ambient temperatures
power generation portfolio. robust foundation to be essential. the renewable power portfolio, assessing exceeding optimal PV operating thresholds,
emerging technologies, and supporting initiatives Renewables IPP Capacity 30% leading to reduced electricity generation
that enable the adoption of green solutions. 23% 23% 23% 26% and associated energy and revenue losses.
Gas-Fired IPP Capacity
Under the SSP5–8.5 scenario, ambient
MedcoEnergi’s Climate Change Strategy 2022 2023 2024 2025 2030 temperatures during daylight hours were
projected to exceed the threshold throughout
Vision Mission the assessment period, resulting in estimated
impacts ranging from USD2,600 to
To be the Energy Company of Choice for our To build long-term value with a
Managing Transition Risk impacts of climate-related hazards through USD19,600 per year.
investors, shareholders, partners, employees, portfolio of sustainable energy and a climate change risk assessment process.
and the communities where we operate natural resource business 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
Climate Aspiration 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
Achieve Net Zero for Scope 1 and Scope 2 GHG Emissions by 2050 and Net Zero for Scope 3 GHG Emissions by 2060
communicating, coordinating, and overseeing using both qualitative and quantitative asset damage and business interruption.
Strategy Focus Area Key Initiatives 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
• Reduces flaring venting an fugitive emissions plant efficiency and increase the share of across short-, medium-, and long-term time USD505,000 to USD835,000 per year.
Technologies
• Reduce energy use & intensity, adopt, renewable energy sources clean and renewable energy in its portfolio. horizons. These time frames consider factors
& Best Practice
• Collaborate along Supply and Value Chains to improve efficiency and emissions disclosure To operationalise the Companies’ low-carbon The proposed mitigation measures address
such as regulatory developments, market
strategy, Medco Power has set specific trends, and strategic shifts related to the identified physical climate risks through a
Emissions Carbon Removal Carbon sequestration through nature-based solutions targets, including achieving renewable energy combination of operational improvements,
Transition Risks
•
low-carbon transition.
Reduction & Offset Explore CCUS1 and CCS2 opportunities mix of 26% in 2025 and on track for the engineering measures, enhanced monitoring,
Managing
•
target of 30% in 2030, as shown in the The physical risk assessment follows a and emergency preparedness for extreme
Growing Gas figure below. More information on climate structured process that includes asset heat and extreme rainfall events. By
• Expand natural gas production portfolio
as a Transition initiatives, including transition selection and prioritisation, risk identification, strengthening procedures, asset protection,
• Evaluate opportunities to invest in LNG to power
Energy Source 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,
Growing • Expand renwable power portfolio
Transition to subsection “Climate Action and Low-Carbon data sets while exposure and vulnerability asset damage, and business interruption.
Low Carbon Energy Renewables • Assess feasibility to adopt emerging renewable technologies
Support initiatives for adoption of green solutions
Transition” on page 86. are assessed based on asset characteristics Collectively, the measures demonstrate
Portfolio •
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
Managing Physical
Climate • Assess quantitative financial impact of climate-related physical risks scenarios, SSP1–2.6 and SSP5–8.5, to the continuity of its operations under
Addressing physical climate risks begins
Climate Risks
Adaptation • Implement systems for regular monitoring of climate hazards and their impacts
with identifying and assessing the potential capture a range of potential future conditions. evolving climate conditions.
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 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
Enablers
Samosir Geothermal PSPE Extreme Heat, Extreme Rainfall Flooding
Governance Data Management Transparency & Compliance Collaboration & Engagement
• Board commitment and oversight • Improve Emission Data • Continue third-party verification • Engage with regulators and West Bali Solar PV IPP Extreme Heat, Water Stress, Landslides
• 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
Sulut-1 O&M Extreme Heat
• Staff engagement and emissions collection and and improve CDP4 and • Collaborate with stakeholders to
Timor-1 O&M Extreme Heat, Water Stress, Wildfires
capacity building calculation in alignment with ESG scoring drive the low-carbon economy
protocols and standards
1
CCUS : Carbon Capture Utilisation & Storage
Minimal Low Moderate High Very High
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
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Sustainability
Governance [GRI 3-3]
Establishing robust governance extends across all operational dimensions To support sustainability implementation, economic, environmental, social, and climate-related capacity development with 28 Compliance Champions serving as
frameworks remains central to and guides the Company’s strategic the Company maintains a designated and governance dimensions. This oversight programmes are presented in the Human ethics ambassadors. Their role is to
Medco Power’s operational approach decision-making processes. management-level position responsible function ensures consistency between Resources section on page 92. [OJK E.2] strengthen and reinforce the Company’s
and long-term sustainability objectives. for coordinating sustainable operations. operational policies and the Company’s [GRI 2-17] commitment to integrity, ethical behaviour,
The Company recognises that sound Duties and Responsibilities This role ensures governance policies sustainability objectives. [GRI 2-14] [GRI 2-9] and a zero-tolerance policy toward
governance practices form the essential of Sustainability Governance and practices align with principles of Anti-Bribery corruption and bribery across all levels
foundation for stakeholder confidence transparency, accountability, and integrity Medco Power operates within the of organisation.
Clear organisational structures support sustainability framework established by Management System
and support the delivery of sustainable across operational functions. [OJK E.1]
development outcomes. Medco Power’s approach to governance MedcoEnergi. MedcoEnergi maintains a Medco Power maintains its commitment In 2025, internal audit evaluations of
and enable effective oversight of business The BOD reviews and approves disclosed Climate Governance Structure designed to conducting business in accordance ABMS were carried out at MEB, DEB ,
As Medco Power advances its position in activities. The Board of Directors (BOD) information, including materiality to support the transition toward cleaner with applicable legal requirements and ELB, and MRPR as part of the Company’s
the provision of clean and renewable energy holds primary responsibility for strategic assessments, as documented through energy systems. Within this structure, ethical standards. The Company’s annual compliance verification process
development, the organisation continues decisions affecting the Company’s formal approval processes and signature the Energy Transition Working Group approach includes implementation of and to drive continuous improvement,
to reinforce governance mechanisms that economic, environmental, and social authentication on relevant report sections includes representation from Medco the Anti-Bribery Management System supporting ongoing alignment with
address the evolving requirements of the performance, including matters pertaining while the Board of Commissioners provides Power’s Director and Chief Commercial & (ABMS) aligned with ISO 37001:2016 ISO 37001:2016 requirements
global energy transition. This commitment to sustainability. [GRI 2-12] [GRI 2-13] oversight of management activities across 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
Sustainability and ESG Governance Structure of MedcoEnergi 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
MedcoEnergi Board Sustainability Competence and renewable energy portfolio through
Medco Power has implemented the
of Commissioners 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
Reporting Line sustainability remains a priority for subsidiaries, with certification maintained and uphold long-term value for stakeholders.
Sustainability & Risk Management These risks are identified and prioritised
Medco Power in 2025. The Company through regular surveillance and
Coordination Line Committee (SRMC) by taking into account the Company’s
recognises that effective oversight and recertification audits conducted by external
Medco Power Sustainability Team 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
Corporate
MedcoEnergi Board of Directors knowledge and competencies at all levels MPE, BJI, and PPP in 2020, followed by the ESG risk considerations.
Committee and Working Groups as part of
sustainability and climate change governance 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,
Climate Change Working Group Energy Transition Working Group 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
GHG Emissions Physical Risk Management Low Carbon Energy Transition capabilities relevant to the Company’s prevention, detection, response, and
using methodologies appropriate to the
Reduction Sub-Working Group Sub-Working Group Sub-Working Group 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,
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
Aspect Material Topic Risk Potential Mitigation
Environment Emissions Decline of Air Quality • Carry out routine machine maintenance and utilisation of technology to
Medco Power meet the emission regulations and policies.
Board of Directors • 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.
President Director & Director & Chief Director & Chief Director & Chief Commercial & • Utilisation of electric vehicle replacing partially the use of conventional
Chief Executive Officer Operating Officer Financial Officer Business Development Officer combustion car.
• Perform routine servicing for operational cars.
Occupational Increased noise • Carry out routine maintenance on machines that make noise.
BD & Sustainability Health and • Planting trees.
Safety • Use PPE on employees who work in high-noise areas.
• Carry out routine measurements for noise.
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Sustainability
Governance
Aspect Material Topic Risk Potential Mitigation Stakeholder Involvement employees, business partners, communities, These engagement activities support
government entities, and other stakeholders relationship development and enable
Environment Environmental Hazardous and toxic • Inventory of hazardous and toxic waste generated from operational activities. Medco Power recognises that collaboration through communication channels and collaborative approaches to shared objectives
Conservation Waste Pollution • Create a temporary landfill for hazardous and toxic waste in accordance with stakeholders supports the Company’s dialogue processes designed to understand in social, economic, and environmental
and Biodiversity with applicable regulatory provisions. operational objectives and business stakeholder perspectives and address sustainability. [OJK E.4][GRI 2-29]
• Have an SOP for handling hazardous and toxic waste. sustainability. The Company engages with concerns related to company operations.
• 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 Methods and Frequency of Stakeholder Engagement
Stakeholders Company Response
Conservation waste generation for workers. Engagement Methods Main Issues
and Biodiversity • Segregate waste according to the type of waste by differentiating the
Government • Field visits as needed • Compliance with regulations • Comply with all government regulations
colour of the waste bins.
• Sudden meetings • Socialisation of regulations • Prepare reports for local and
• Collaborate with third parties for further waste processing.
• Annual reports and other reports central government
Economic Climate-related risk • Improving operational and maintenance targets. according to regulations • Pay obligations to the government
Performance • Regular maintenance measures such as removing bore plugs, washing
Communities • Socialisation consultation, and • Corporate social and environmental • Implement social and environmental
offline water, and replacing filters.
attendance at local activities responsibility responsibility programmes
• Optimising maintenance scheduling and enhancing operator training to
• Mapping surveys, initial assessments, • Priority for local workforce and • Open up job and business opportunities
ensure consistent and reliable plant performance.
and community social monitoring business opportunities with a focus on local potential
• Working with Original Equipment Manufacturers (OEM) to identify and
• Involvement in the planning and • Respect for local culture and wisdom • Participating in efforts to protect and
improve certain targets to enhance efficiency and operational effectiveness.
implementation of CSR programmes • Management of social and preserve cultural heritage sites and
Social Local Opening of job opportunities • Ensure the realisation of the Company’s commitment to prioritise local • Recruitment of local workforce environmental impacts respecting local customs
Communities and business opportunities workers and suppliers with a transparent recruitment process. • Fulfilling commitments in the social
Local Increasing the carrying • Improving the condition of public infrastructure in operational and and environmental impact
Communities capacity of the local economy construction areas. management document
Local Capacity building in carrying • Synergise with relevant stakeholders and local communities for carrying Supplier • Communication and meetings • Contract agreement • Reasonable and fair work
Communities capacity of the local economy capacity building to increase the local community economic potentials. according to field visit requirement • Good cooperation contract agreement
• Timely payments • Good cooperation
Local Increasing the potential and • Synergise with relevant stakeholders and local communities for carrying • Appropriate payment
Communities enthusiasm of local tourism capacity building to increase the local tourism potential. • Employment contract
Local Disruption of cultural heritage, • To respect and protect the local wisdom including cultural heritage. Media • Hold media gathering events • Maintain relations with the media and • Expect balanced and accurate reporting
Communities both tangible and intangible convey important information related • Maintain the Company’s image
Local Complaints from the • Providing a grievance mechanism or complaint channel that is easily to the Company’s activities
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. Local Coffee Development Programme, East Java
• Create maps and mitigate conflicts of interest in the Company.
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2025 Management Business Company Corporate Sustainability
84 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 85
Sustainability Sustainable Economic
Governance
Performance [OJK F.17] [GRI 3-3]
Supply Chain Management To support transparency and ethical into strategic planning to support informed Medco Power’s sustainable economic Economic Value disclosures include information on financial
procurement, Medco Power maintains and adaptive decision-making. performance reflects its ability to generate support from the government. During 2025,
Medco Power recognises that a resilient supplier engagement initiatives, including economic value through reliable operations
Generated and Distributed Medco Power received financial assistance
supply chain is essential to operational contractor forums and sharing SCM One key challenge relates to human capital, in clean and renewable energy. Through The Company reported revenue of in the form of a grant from the U.S. Trade
continuity and long-term business e-Newsletter quarterly to all contractors, both internally and within surrounding steady progress and measured business Rp2.93 trillion in 2025, a decrease of Rp0.34 and Development Agency (USTDA) to
sustainability. The Company manages its which reinforce procurement practices communities. Strengthening sustainability- growth, the Company supports national trillion compared to the previous year, and support a feasibility study for the development
procurement of goods and services based aligned with ISO 37001:2016 Anti-Bribery related competencies among employees economic development while contributing profit for the year of Rp243.14 billion. of an approximately 111 MW wind power
on efficiency, integrity, and the mitigation Management System (ABMS) and the and enhancing community capacity remain to the energy transition. Revenue from electricity delivery and plant in West Sumbawa, West Nusa Tenggara,
of social and environmental impacts. Contractor Safety Management System important areas of focus. As described operation and maintenance services as part of the Company’s renewable energy
(CSMS). In parallel, the Company provides on page 97, the Company continues to With more than 20 years of experience, increased, reflecting the Company’s portfolio. In addition, Ijen Geothermal
Medco Power continues to implement implement structured competency Medco Power contributes to meeting the
open access to procurement policies and transition toward a more stable, recurring, IPP obtained a corporate income tax
an online Requisition-to-Pay (R2P) system development programmes for employees essential need for electricity by supplying
an independent whistleblowing channel. and sustainable operating profile. However, reduction facility based on the Decree of
across all operational assets, supported by and community-based capacity building affordable and accessible power from clean
Across all procurement activities, Medco this increase was outweighed by lower the Minister of Finance of the Republic
an annually reviewed Procurement List initiatives to support effective sustainability and renewable energy sources. Supported
Power priorities local labour and domestic construction revenue following the of Indonesia No. 6/TH/PMA/2025, which
and Integrated Planning Management. implementation. by reliable operation and maintenance
suppliers while strengthening supplier completion of major project development provides a 100% corporate income tax
Inventory efficiency is strengthened through services, the Company delivers stable
capabilities through training, coaching, phases, resulting in overall decline reduction for seven fiscal years from the
improved spare-part and scrap management As a power generation company, electricity that provides long-term benefits
and regular performance evaluations. in revenue. commencement of commercial operations,
procedures to reduce waste. Medco Power also faces economic to customers, communities, and other followed by a 50% reduction for the subsequent
considerations in advancing renewable stakeholders, while supporting national In line with the Company’s commitment
Suppliers are required to comply with Challenges in Implementing energy projects. Although capital costs
two fiscal years. [OJK B.1] [GRI 201-4]
economic growth and the energy transition. to transparency and accountability,
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 Description 2023 2024 2025
Power strictly prohibits child and forced presents evolving challenges for Medco
Power in implementing sustainability improving cost efficiency, optimising capital Economic Value Generated [GRI 201-1]
labour and embeds these requirements in and operational expenditure, and engaging
supplier selection and contractual agreements commitments. Guided by the Company’s Revenue 4,321.57 3,271.30 2,931.99
Sustainability Strategy (page 74), and with relevant stakeholders to support tariff
through the Code of Conduct. The Company structures that enable renewable energy Other Income 179.78 167.41 271.95
continues to implement its integrated as outlined in the risk mapping section
(page 79), these challenges are projects to remain financially sustainable Interest Income 80.16 75.31 135.19
Human Rights and Sustainability Policies and competitive.
to reinforce supplier commitments. systematically assessed and integrated
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
Number of Local Suppliers [GRI 204-1]
excluding Salaries and Allowances)
2023 2024 2025
Type of Suppliers Employee Salaries and Allowances 380.09 425.44 429.27
Total % Total % Total %
Dividend Payments 66.51 92.83 112.16
Local Suppliers 284 95 312 96 361 96
Community Investment 4.94 2.56 3.52
Foreign Suppliers 15 5 14 4 15 4
Payment of Income Tax to the Indonesian Government 149.85 60.91 131.41
Total 299 100 326 100 376 100 Total 3,983.33 2,841.41 2,369.54
Notes: Economic Value Retained
• 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 Economic Value Retained 598.18 672.61 969.5
since 2023.
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
Women’s empowerment training programme, Riau
2024 US$96 million US$69.5 million
2023 US$110 million US$71 million
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2025 Management Business Company Corporate Sustainability
86 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 87
Environmental
Performance [OJK B.2] [GRI 3-3]
Medco Power recognises that responsible To achieve environmentally responsible In line with the Climate Change Risk
Power Plant Description
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 Gas to Power • MRPR – 275 MW (COD 2022) 1,458 GWh power sales
well-being. As a power company operating management practices, performance transition risks, including emission (Expanding Footprint) • ELB Expansion – 109 MW (COD November 2025) Increased capacity from 70 MW to
across Indonesia, the Company integrates indicators, and ongoing initiatives across reductions through low-carbon initiatives. 109 MW, converting simple cycle to combined cycle
environmental considerations into strategic several key areas: climate action and All of which directly inform the environmental Geothermal • Sarulla – 330 MW (COD 2018) 686 GWh power sales
decision-making and daily operations, low-carbon transition, environmental management systems and operational (New Greenfield Development) • Ijen – 110 MW (COD February 2025) Unit 1 35 MW
balancing the growing demand for reliable management and performance, energy practices detailed in subsequent sections. • Ijen – Capacity Expansion for Unit 2 and 3 to ~100 MW
power with the imperative to protect and emissions management, and resource • Bonjol (Exploration underway) 60 MW
natural ecosystems. management and conservation. Through The Company has set targets for
• Samosir – New geothermal exploration (PSPE) near Sarulla Operations
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) Solar PV • Sumbawa – 26 MWp (COD 2022) 38 GWh power sales
is a dynamic system that connects climate, by promoting sustainable operations and mix of 26% in 2025 and 30% by 2030. (Pursuing Projects with Larger Scale) • East Bali – 25 MWp (COD July 2025)
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. Throughout 2025, Medco Power also Environmental Performance • Facility Management: Office and
ecosystem balance while minimising the Low-Carbon Transition, strengthened industry engagement by Recognition administrative facilities apply energy
environmental impacts of its operational Innovation, and Partnership The low-carbon transition strategy participating in key forums to share insights efficiency principles, while vehicle
translates the optimisation of core In 2025, Medco Power achieved
activities. Medco Power applies an [GRI 3-3] and learn from industry peers, where the fleets are gradually incorporating
competencies and continuous innovation notable recognition for its environmental
environmental management approach Company presented its sustainability lower-emission technologies where
Building on the Company’s foundational into defined development pathways that management practices. PT TJB Power
that incorporates planning, monitoring, framework, discussed implementation operationally feasible.
commitment to environmental stewardship, shape the Company’s generation portfolio. Services (TJBPS), where Medco Power
and oversight across its operations. These challenges, and explored collaborative
Medco Power has adopted a Climate Change The table below presents past and ongoing provides an Operation & Maintenance Environmental Investment [OJK F.4]
processes help the Company to identify approaches to accelerating the clean energy
Strategy aligned with MedcoEnergi’s projects that demonstrate the Company’s (O&M) services contract obtained
potential impacts, manage environmental transition. These engagements included: In 2025, Medco Power allocated
corporate framework, focusing on the innovation and progress in supporting a Green PROPER award.
risks, and align day-to-day activities with pathway toward Net Zero Emissions (NZE). approximately Rp11.2 billion toward
low-carbon transition. [OJK F.26] • Indonesia International Geothermal
applicable regulations and standards. 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
East Bali Solar PV, Bali the Company to translate strategic climate materials where appropriate.
commitments into daily operational discipline.
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2025 Management Business Company Corporate Sustainability
88 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 89
Environmental
Performance
Description Energy Source 2023 2024 2025 Resource Management recycling, treatment, and finally disposal protect both the ecosystem and the
through licensed contractors. [GRI 306-2] employees. Throughout 2025, Medco
Subsidiary Consumption of Non-Renewable Energy (GJ) 25,226,144.25 24,567,004.41 26,603,346.61 and Conservation Power recorded zero spill incidents across
Waste Management Each operational site maintains temporary all operational locations, reflecting the
Consumption of Renewable Fuel (GJ) 570.08 434.40 3,522.52
storage facilities for hazardous waste, effectiveness of preventive protocols and
Electricity Consumption (GJ) 6,070.45 6,674.40 17,550.86 Moving from emissions management to designed and operated according to the employee training. [OJK F.15]
physical resource stewardship, the procedures established within the
Total Energy Sold (GJ) 10,132,680.46 10,005,930.07 12,270,750.05 Company’s environmental management environmental management framework. Additionally, in an effort to leverage the
Total Energy Consumption (GJ) 15,107,453.78 14,568,183.34 15,668,893.59 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
Total Production (MWh) 2,818,280.18 2,783,552.35 3,318,927.06
Power applies an integrated waste permits from the Ministry of Environment on strengthening internal awareness of
Energy Intensity per Production (GJ/MWh) 5.36 5.23 4.72 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
Energy Use Based on Energy Source Total Emissions Generated (Scope 1 and Scope 2) [OJK F.1][GRI 305-1][GRI 305-2] follows a hierarchical approach prioritising minimise environmental risk from chemicals Domestic to Industrial”, which aimed to
[OJK F.6][GRI 302-1][302-3] Year Total Emissions Generated (tCO2e) waste prevention, followed by reuse, and hazardous materials and protocols that enhance employees’ understanding of
The Company generated 25% of total waste classification, source segregation,
2025 1,504,589.24
electricity from renewable energy sources and environmentally responsible handling
during 2025, reflecting progress toward 2024 1,379,610.21 Total Waste Generated Based on Management Method [OJK F.13] practices across daily activities and
the NZE targets established in the climate 2023 1,418,190.55 Description Unit 2023 2024 2025 operational processes. The webinar
action and low-carbon strategy section. engaged more than 100 participants from all
Hazardous and Toxic Waste subsidiaries, promoting the implementation
This proportion includes geothermal,
hydroelectric, and solar generation across GHG Emissions intensity [OJK F.11][GRI 305-4] Generated ton 101 50 90 of 3R (Reduce, Reuse, Recycle) principles
Medco Power’s operational portfolio, each Description Unit 2023 2024 2025 and introducing circular economy concepts
Third-Party Transportation ton 94 50 90 as part of the Company’s long-term waste
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 Non-Hazardous and Toxic Waste reduction strategy. This initiative was
the resource management section. Generated aimed to reinforce regulatory compliance,
Generated ton 74 78 166
Total Production MWh 2,818,280.18 2,783,552.35 3,318,927.06 support environmental risk mitigation, and
Greenhouse Gas Emissions Local Storage ton 0 0 1 strengthen internal competencies in line with
GHG Emission ton CO2e/ 0.50 0.50 0.45 the Company’s ESG commitments.
[OJK F.11] [OJK F.12] [GRI 305-1] Sent to Third Party ton 74 78 165
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. Cibalapulang Mini-hydro, West Java
primary climate concern, electricity generation geothermal power generation.
also produces criteria air pollutants that
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2025 Management Business Company Corporate Sustainability
90 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 91
Environmental
Performance
Water Stewardship Biodiversity Preservation Inspiring Student Awareness and Environmental Complaints
Medco Power manages water resources Action for Biodiversity Conservation [OJK F.16]
The final dimension of resource
in line with the Company’s SMK3LL policy, management addresses the ecosystems [OJK F.10] Effective environmental management
which guides the responsible use of water within which power facilities operate. MRPR conducted a biodiversity campaign at requires open channels for feedback and
across operational activities. In daily Several Medco Power facilities operate three schools along the gas pipeline route accountability. The Company maintains
operations, water is sourced from surface within or adjacent to forested areas, (SDN 1 Kuala Gasib, SMPN 2 Tualang, and accessible pathways for environmental
water, groundwater, and recycled streams, necessitating careful ecosystem management SMAN 4 Tualang), reaching 170 students. feedback and concerns, allowing community
with all withdrawals conducted in that complements the climate action The programme focused on raising members and stakeholders to submit
accordance with applicable environmental initiatives described at the beginning of awareness about biodiversity conservation inquiries or complaints through the designated
permits and regulations. The Company this chapter. The Company holds Forest and endangered species protection, email: corsec.mpi@medcoenergi.com.
applies measured withdrawal practices to Area Borrow-Use Permits (IPPKH) covering particularly Pangolins and Siamangs native
help ensure that operational needs do not 1,306.31 hectares in total across MRPR to the Riau (Gas-fired IPP) area. Activities During 2025, Medco Power received zero
interfere with community water access or (817.01 ha) and Ijen assets (219.3 ha), included pre-assessments, interactive environmental inquiries, all of which were
local ecosystem balance. 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.
To reduce dependence on processed The Company views community engagement
[OJK F.9][GRI 304-1][GRI 304-2] Development Goals 13 (Climate Action) and
water, several operational sites apply water as an essential component of environmental
15 (Life on Land).
recycling measures, including reinjection accountability, particularly for facilities
methods and rainwater harvesting. located near residential areas where the
Wastewater generated from operations MRPR Gas-fired, Riau impacts discussed in this chapter, emissions,
is treated through dedicated wastewater water use, and waste management can
treatment facilities before discharge, directly affect local populations.
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)
Ijen Geothermal, East Java
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2025 Management Business Company Corporate Sustainability
92 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 93
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 Employee Composition by Education Level
fundamental to achieving operational provider of environmentally friendly energy. policies that shape Medco Power’s
2023 2024 2025
excellence and driving the Company’s clean approach include: Education
and renewable energy transformation. As Human Resources Total % Total % Total %
the backbone of Medco Power’s operations, 1. Providing equal, non-discriminatory
Strategy and Policy opportunities for employees to develop Bachelor’s degree and Above 544 60.38 634 62.59 661 64
the workforce plays a critical role in
executing clean and renewable energy As Medco Power continues its their competence and career. Diploma 144 15.98 164 16.19 178 17
projects, navigating market challenges, and transformation, human resources 2. Providing wages above the government
High School and Equivalent 213 23.64 215 21.22 198 19
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. Total 901 1,013 1,037
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 Note: Total employees excluding Director level.
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 Employee Composition by Age
long-term sustainability strategy. Amid management is also structured to help employing minors. 2023 2024 2025
challenging market conditions, these employees build the skills needed to Age
Total % Total % Total %
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] >50 Years Old 91 10.10 106 10.46 127 12
and execution processes, ensuring the
In line with this direction, the Company Medco Power continues to maintain 40-49 Years Old 291 32.30 316 31.19 327 32
Company remains resilient and competitive.
strives to cultivate a comfortable, healthy, a workforce profile that reflects its
30-39 Years Old 299 33.19 342 33.76 352 34
As part of this broader transformation, the and inclusive work environment while operational needs and commitment to
diversity and inclusion. Understanding <30 years Old 220 24.42 249 24.58 231 22
Company is also strengthening its upholding employee rights and equality.
organisation and culture by emphasising Through this approach, employees the composition of the workforce helps Total 901 1,013 1,037
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 Note: Total employees excluding Director level.
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 Employee Composition by Gender
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, 2023 2024 2025
employees by job level, employment status, Gender
Medco Power believes that a competent, high-quality workforce that contributes
educational background, age group, and Total % Total % Total %
diverse, and highly competitive workforce is positively to overall performance.
gender is presented in the tables below.
Male 790 87.68 887 87.56 905 87
Female 111 12.32 126 12.44 132 13
Total 901 1,013 1,037
Employee Composition by Position Level
Note: Total employees excluding Director level.
2023 2024 2025
Position Level
Total % Total % Total %
Director 4 0.40 7 0.69 7 1 Labour Practices and Through this approach, the Company giving every employee the opportunity to
strengthens responsible employment grow professionally and contribute to the
Senior Executive 32 3.55 32 3.16 36 3 Responsible Employment practices that support a positive work organisation. As can be seen in the
Manager 77 8.55 85 8.39 81 8 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
Supervisor 147 16.32 188 18.56 214 20 a resilient, efficient, and competitive clean organisational performance. diverse workforce across various roles and
Officer 645 71.59 708 69.89 706 20 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
Total 905 1,020 1,044 approach, Medco Power also upholds
business goals and sustainability priorities, workplace and remains committed
it continues to apply employment practices human rights principles by adopting to preventing discrimination in all aspects
Employee Composition by Employment Status Level that are inclusive, fair, and sustainable MedcoEnergi’s Human Rights Policy of employment. [OJK F.18]
across the organisation that prohibits the employment of
2023 2024 2025
Employment Status individuals below the legal working age Human resources processes are applied
Total % Total % Total % 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
Permanent 744 82.57 758 74.83 813 78
Indonesian laws and regulations, including effort to maintain integrity in its operations respect for all employees, regardless of
Contract 157 17.43 255 25.17 224 22 Law No. 13 of 2003 and Job Creation Law and to provide a work environment their personal identity or background.
Total 901 1,013 1,037 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,
Note: Total employees excluding Director level. 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 49
2025 Management Business Company Corporate Sustainability
94 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 95
Human Resources
Management Performance
To support positive industrial relations, The remuneration system includes performance- employees’ long-term social and economic Work-Life Balance encouraging engagement, and supporting employees as they
Medco Power implements the Company based pay and comprehensive benefits security after retirement. navigate the demands of a dynamic and competitive industry.
Regulation at its Head Office and across that exceed the provincial minimum wage As Medco Power strengthens its organisation and people practices,
several subsidiaries as the overarching (Upah Minimum Propinsi/UMP) in Indonesia. The Company participates in national supporting employees’ overall well-being remains an important part To promote this balance, Medco Power provides policies,
framework governing employment The Company ensures that employees at pension schemes administered by BP of its human resource approach. The Company recognises that programmes, and facilities that help employees manage their
practices throughout the organisation the lowest organisational level receive Jamsostek, namely the Old Age Security sustainable performance is closely linked to employees who are professional responsibilities alongside personal and family needs.
In addition, certain subsidiaries apply wages on average 156% of the Minimum Programme (JHT) and the Pension Security physically healthy, mentally resilient, and personally fulfilled, both Through these efforts, the Company aims to foster a healthy
Collective Labour Agreement (Perjanjian Wage established by local governments, Programme (JP), which are mandatory for inside and outside the workplace. Work-life balance therefore and positive workplace culture that contributes to long-term
Kerja Bersama/PKB) [GRI 2-30] in accordance demonstrating Medco Power’s commitment all employees. Medco Power contributes becomes an essential element in maintaining productivity, performance and employee retention.
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
offers a voluntary defined contribution Synergy Day Medco Active Movement
Company interests. These agreements
provide a basis for ongoing communication Comprehensive benefits include health pension scheme through the Financial Medco Synergy Day 2025 brought together nearly 7,000 A series of sports activities was conducted under the
and cooperation through regular insurance for employees and dependants, Institution Pension Fund (DPLK), with a employees and their families at Indonesia Arena, Jakarta, as Medco Active Movement 2025 initiative to promote a healthy
engagement activities. life and accident insurance, retirement Company contribution of 4% to support part of MedcoEnergi’s 45th anniversary celebration. Participants and active lifestyle while strengthening employee engagement
benefits, annual and parental leave, and employees who choose to participate. represented both domestic and international assets, including across operational regions. The programme began with a
Welfare and Remuneration various allowances for transportation, Medco Power, reflecting the Company’s integrated and Body Combat session on October 30, 2025, attended by more
meals, communication, and housing where Through the provision of pension benefits
collaborative workforce across business segments. The event than 70 participants, followed by a Yoga session on November 6,
Medco Power maintains a transparent and applicable. Additional welfare programmes beyond statutory severance entitlements,
provided an opportunity to recognise employee contributions 2025 at The Energy Building, Jakarta. These sessions were
equitable remuneration system that ensures support employee well-being through health Medco Power seeks to support employees’
and strengthen engagement throughout the organisation. facilitated by professional trainers and aimed to enhance physical
the employees receive compensation screenings, medical facilities access, and financial preparedness for retirement.
fitness and overall well-being.
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 placeholder image
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%
Energy Run Safari Ramadhan
Riau Islands 147%
Energy Run 2025 was held to commemorate 45 years of The programme was conducted across four strategic assets,
Bali 109% MedcoEnergi and 17 years of The Energy Building. The event including Ijen Geothermal IPP. The initiative provided an
West Nusa Tenggara 185% 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
Central Java 231% Power. The programme featured a 5K Fun Run aimed at operational priorities and challenges at each location. These
East Java 225% 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.
North Sulawesi 111%
as a platform to strengthen collaboration across business units In the event, management conveyed appreciation for the
North Sumatera 155% and reinforce a shared sense of purpose. dedication and performance of employees throughout Ramadan,
reinforcing the importance of collaboration and shared commitment
Allowances Provided to Permanent and Contract Workers [GRI 401-2] in achieving operational targets.
Allowances Permanent Employee Contract Employee
Life Insurance Yes Yes Employee Appreciation
Health Insurance Yes Yes The Employee Service Award is an annual initiative conducted
Maternity Leave Yes Yes by PT Medco Power Indonesia to honour employees who have
served the company for 5 years, 10 years, and subsequent
Healthcare Yes Yes milestones. This recognition reflects the company’s appreciation
Preparation for Retirement No No for the loyalty, dedication, and contributions demonstrated
by its employees throughout their professional journey.
Religious Holiday Allowance Yes Yes
Through this award, the company reaffirms its commitment
Pension Yes No to valuing every individual as an integral part of the organisation’s
success. The programme also reflects Medco Power’s culture of
Work Accident Insurance Yes Yes
respect, unity, and recognition of long‑term contributions that
Death Insurance Yes Yes help shape and strengthen the company’s continued growth.
Page 50
2025 Management Business Company Corporate Sustainability
96 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 97
Human Resources
Management Performance
Employee Recruitment New Employees Based on Gender Employee Turnover [GRI 401-1] Leadership Development Technical Competency
and Career Development Gender 2023 2024 2025 Employee turnover provides insight Programmes Development
Medco Power supports its organisational Female 15 15 into workforce stability and the In 2025, Medco Power strengthened its
8 Medco Leadership Behaviours (MLB)
needs by attracting and developing effectiveness of Medco Power’s commitment to sustainable operations by
Male 114 163 71 people management practices. As part of MedcoEnergi, Medco Power
competent and integrated workers who conduct technical competency development
Total 129 178 79 Monitoring turnover trends helps the promotes MLB as the guiding framework
align with the Company’s operational and for the Independent Power Producer (IPP)
Company understand retention patterns, that encourages employees to embody
long-term direction. Recruitment is carried teams at MRPR, ELB, BJI and PPP. The
identify areas for improvement, and plan key leadership values in their roles. MLB is
out through a structured and transparent New Employees Based on Age Group programme focused on a structured technical
future workforce needs in line with integrated into the Performance Management
process that focuses on placing the right competency gap assessment to benchmark
Age Group 2023 2024 2025 organisational goals. System as a key assessment component,
people in the right roles. In line with workforce capabilities against defined
evaluating both leadership values and
the Company’s values, the process is <30 Years Old 79 98 41 standards for critical operational and
implemented fairly and provides equal Training and work achievements.
maintenance roles.
30-50 Years Old 50 76 37
opportunities for all applicants. Competency Development Medco Senior Leadership
>50 Years Old 0 4 1 Targeted training programmes were delivered for
Candidate evaluations include Medco Power places training and Development Programme (MSLDP) Engineering and Operations & Maintenance
Total 129 178 79 competency development as a top
administrative screening and Designed specifically for supervisors personnel, with emphasis on renewable
competency-based assessments, priority in human resources management, energy technologies and gas to power
and managers, this programme focuses
supported by interviews and input from New Employees Based on Region recognising that sustainable business
on enhancing personal leadership systems. These initiatives support operational
relevant supervisors. This approach success can only be achieved through reliability, safety performance, and long-term
Region 2023 2024 2025 capabilities, team management skills,
helps the Company identify individuals optimal employee performance. The readiness for evolving power generation
and commercial acumen, ensuring that
who meet the requirements of each Jakarta 15 14 10 Company leverages all available resources technologies, while ensuring that workforce
Medco Power’s leaders can perform
position and have the potential to continue Outside of Jakarta 114 164 69 to translate business challenges and development remains aligned with business
their roles more effectively in support
developing their capabilities over time. industry dynamics into structured education continuity and sustainable growth objectives.
Total 129 178 79 of transformation objectives. The Senior
and training programmes aimed at cultivating
Leaders Programme was conducted online
Career development is also an important highly skilled and competent personnel. Sustainability and Climate
between October and November 2025
component of Medco Power’s human
resource approach. The Company fosters Medco Power’s core development programmes to enhance leadership competencies. Change [OJK E.2] [GRI 2-17]
Additionally, as part of the Company’s to the Operating Philosophy, and the cover three key areas: leadership development, The programme addressed sustainability
a work environment that supports individual Sustainability Programmes for Leaders:
Operational Excellence (OE) framework establishment of Batam Asset Engineering technical competency enhancement, and disclosures and due diligence (October
growth by offering learning opportunities Medco Power continued to strengthen
which focuses on People, Medco Power by integrating ELB, MEB, and DEB teams sustainability and climate change capability 2025), climate risks and resilience
such as training programmes, certifications, sustainability and climate-related competencies
Indonesia strengthened workforce to improve technical support and reduce building. These programmes are designed (October 2025), GHG and methane
and mentoring. Employees are encouraged at leadership level. Two leaders participated
capability and reliability across its duplication. To strengthen leadership and to support different stages of employee management (October 2025), and
to strengthen their competencies and in international executive programmes on
assets. A competency assessment was accelerate OE maturity, all Batam Assets growth, from early career development to concluded with sustainable finance and
prepare for the evolving needs of the Business Sustainability Strategy, Technology and
conducted for operators and technicians managers and supervisors participated preparing future leaders and specialists. the CCS/CCUS Hub (November 2025).
clean and renewable energy industry. Management (MIT) and Evaluating a Corporate
Medco Power also provides pathways at MRPR, MEB, DEB, and BJI to in a Leadership Training programme in Sustainability Strategy (Cornell University).
for advancement through job rotations, support targeted talent development. December 2025.
promotions, and involvement in A Reliability Improvement Task Force GAIA Champions Programme: Medco
(RITF) was deployed to MRPR, providing Under the OE pillar on standardised Employee Turnover Based on Gender Power continued the GAIA Champions
strategic projects that broaden processes and tools, Continuous
professional experience. on-site coaching, mentoring, and practical Gender 2023 2024 2025 Programme as part of its efforts to strengthen
assignments, alongside updates to Improvement (CI) workshops were employee competencies. Sessions in August
The Company continues to promote Work Instructions (WIs) and Standard conducted at MRPR and Batam Assets. Female 7 8 4 2025 covered climate risks in disclosure and
a culture of ongoing learning by giving Operating Procedures (SOPs) in line Initiatives were executed using the due diligence, GHG management, carbon
Male 26 62 54
employees access to the resources and with best practices. Define-Measure-Analyse-Improve-Control removal and offsetting, carbon pricing, and
training needed to enhance their skills. (DMAIC) methodology, complementing Total 33 70 58
sustainable finance, including OGMP 2.0, the
Through this approach, Medco Power builds Operational effectiveness was the PDCA cycle by providing a structured, CCS Hub concept, and the Green Finance
a capable and adaptive workforce while further enhanced through streamlined data-driven approach to enhance operational Employee Turnover Based on Age Group Framework.
supporting long-term business sustainability. command structures at MRPR, revisions reliability and ensure sustainable, repeatable
performance improvements. 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.
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2025 Management Business Company Corporate Sustainability
98 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 99
Human Resources Occupational Health
Management Performance
and Safety [GRI 3-3]
Training Performance Through these multifaceted training and to support a professional, adaptive, and Medco Power recognises that power sector Incidents (LTI) across all operational sites, Throughout 2025, Medco Power has
competency development initiatives, Medco capable workforce. The Company plans operations involve inherent risks requiring as well as the attainment of Safety Culture demonstrated continued progress in its
Throughout 2025, Medco Power provided Power cultivates a culture of lifelong learning, to advance its talent development efforts systematic management approaches. Maturity Level-3 (Independent), highlighting OHS performance, including:
5,925 hours of training to its employees enabling individuals to access necessary through approaches that emphasise The Company maintains its focus on a deeply embedded and well-established
across 454 training programmes, resources and development opportunities competencies, technology adoption, Occupational Health and Safety (OHS) as safety culture throughout the organisation. Recognition and Certifications Received
demonstrating continued commitment to to enhance their capabilities continuously. and continuous learning. Investments in a fundamental component of operational [OJK F.21] • Indonesia Best Electricity Award (IBEA)
workforce development. The Company training and certification will be expanded integrity and long-term business viability. 2025 – MCG
invested approximately USD251,396/ Future Human Resource so employees can develop skills that For Medco Power, OHS is more than a • Green PROPER Award – TJBPS
IDR4,022,333.709 in both leadership align with industry developments, Building upon this foundation, Medco regulatory expectation; it is a strategic enabler
and technical development to support Strategy and Outlook Power continues in 2025 to advance its that supports operational reliability, risk These achievements reflect the
particularly in the shift toward clean
the transformation agenda. Looking ahead, Medco Power will continue commitment to effective and responsible mitigation, and overall business resilience. Company’s ongoing efforts to integrate
and sustainable energy.
strengthening its human resource practices OHS management. The Company ensures Through disciplined implementation of safety safety into its operations, including
Medco Power will also focus on maintaining that all operational activities are conducted protocols, ongoing hazard identification, operational excellence, asset integrity,
an inclusive and performance-oriented work in line with prevailing regulations and and consistent performance monitoring, OHS Management Systems, and
culture. Efforts to encourage collaboration, best-practice standards, reinforcing safety the Company strives to maintain a work measurable performance outcomes,
Employee Training and Competency Development [OJK F.22][GRI 404-1]
innovation, and healthy work-life balance as a shared priority across all organisational environment where safety is firmly which together form the foundation
2023 2024 2025 will remain part of the Company’s priorities. levels. This dedication is demonstrated by embedded in daily operations. of Medco Power’s safety framework.
Description
Male Female Male Female Male Female Retention initiatives and leadership the achievement of Zero Lost Time
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.
Training Participants
Through this direction, Medco Power aims
to build a workforce that is well-prepared
Zero 0.59 Zero
Level 3
Description Unit 2023 2024 2025 for future challenges and able to contribute Occupational
to the Company’s continued growth and Lost Time Incident (LTI) TRIR
Number of Training People 3,642 3,601 3,721 Illness Rate
sustainability goals.
Participants (Independent)
6,740,472 56,422,282
Safety Culture
Maturity
Types and Objectives of Training [GRI 404-2]
Total Total Man Hours 2025 Safe Man Hours YTD 2025
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
ELB Gas-fired, Riau Islands
Total
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2025 Management Business Company Corporate Sustainability
100 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 101
Occupational Health
and Safety
Maintaining Operational • Deliver safer, more reliable, and integrated OE systems that translate Additionally, The Company collaborates
Key Initiatives
environmentally friendly responsible strategy into action, ensuring consistency, with Boston Consulting Group (BCG) to
Excellence power generation reliability, and continuous improvement transform Continuous Improvement (CI) 1 Implement a forced outage protocol with a dedicated war room and drill cadence
Introduced to Medco Power in 2020, across all operations. programmes into targeted, high-impact 2 Streamline PR-to-PO process
Medco Power positions Operational The Plan-Do-Check-Adjust (PDCA) initiatives that enhance operational
Excellence (OE) as an overarching framework cycle underpins Medco Power Indonesia’s Within this context, Medco Power position 3 Launch spare parts readiness programme
performance across both power plants.
that integrates key elements essential OE framework, embedding continuous Operational Excellence (OE) as a key pillar Through a structured prioritisation 4 Deploy operations control-tower war room
to safe, reliable, and efficient operations. improvement into daily operations. This of its transformation, embedding the OE process, 24 improvement opportunities 5 Strengthen O&M strategy & planning
The OE framework is developed with the approach supports safer, more reliable, Framework through structured methodologies, were identified, including four quick wins
Revenue (Availability)
6 Develop a Pre-Outage Readiness protocol
objectives as follows: efficient, and sustainable power generation dedicated task forces, and targeted quick and 12 major initiatives (“big rocks”)
while fostering a culture of effectiveness, wins to drive improvements in safety, 7 Build Asset-Health Index dashboard
focused on long-term value creation.
• Drive sustainable growth through efficient, best-practice adoption, and continuous learning. reliability, efficiency, and cost performance. This approach ensures resources are 8 Review gas supply to increase MPRP allocation
value-driven operations This approach was applied across the asset directed toward initiatives with the
Medco Power’s Operational Excellence 9 Develop Safe Operating Limit (SOL) and alarm management
• Ensure the highest levels of safety, integrity, portfolio, including gas to power facilities, greatest impact on efficiency, reliability,
and reliability framework is built on three core pillars: renewable energy installations (solar, 10 Fulfil mandatory equipment and tools to support maintenance & troubleshooting
and sustainable growth.
• Enhance efficiency and cost control developing our people, executing work wind, and geothermal), and Operations 11 Introduce dynamic alarm reset logic to minimise trips
• Embed a culture of continuous through standardised processes and tools, and Maintenance (O&M) service contracts, Each initiative is supported by appropriate 12 Deploy condition-based monitoring to optimise strategies and prevent outages
improvement and best-practice adoption and delivering measurable performance. and has begun to contribute to improved analytical tools and digitalised dashboards 13 Utilise portable inlet-air fogging skids to enhance air intake and recover rates
These pillars are supported by eight operational and financial outcomes. 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
Medco Power Indonesia’s operational oversight, the Company has 17 Create blanket agreement for key materials and services with trusted suppliers
OE framework People deployed an Operations Control-Tower
18 Decentralise select material/services to increase speed to execution
War Room featuring real-time performance
Objectives: Develop leadership
monitoring, centralised coordination, and 19 Structure and operational internal meetings to ensure strong coordination
and human resources excellence in
regular Field Operations drills to maintain 20 Review and update O&M operating model to set clear expectations
dynamic organisation to strive strong
site readiness.
Cost
MPI continuous improvement culture. 21 Introduce SLA-driven LTSA
Relevant OE System: Under the OE pillar on standardised 22 Optimise Gas Turbines overhauls’ cost
SU • Leadership Management processes and tools, Continuous 23 Review manpower requirements to secure adequate resource levels
Y S • Talent Development Improvement (CI) workshops were
orman T
Perf Deliver ce
24 Build category-management capabilities to strengthen strategic sourcing
T conducted at MRPR Gas-Fired and
Deep dives of today
LI
A
Batam Assets. Initiatives were executed
IN
BI
using the Define-Measure-Analyse-Improve-
AB
IA
Control (DMAIC) methodology, complementing
the PDCA cycle by providing a structured,
REL
ILI
data-driven approach to enhance operational Prioritisation Matrix
TY
reliability and ensure sustainable, repeatable
Operational performance improvements. Incremental Wins Quick Wins
Process & Tools
Excellence The Company continued to focus on
P ro c e sExecu
19
Objectives: Develop effective the follow-up and implementation of
(OE) and efficient processes through
digitisation and enhanced technology
corrective action plans arising from 1
le
previous OE assessments. While several
for better visibility and accountability. audits conducted during the year were 16
op
lo p
s & te
Relevant OE System: categorised as Health, Safety, and 14 4
15
ve
Pe
oo • Digitisation and Technology Environment (HSE) audits, they applied
De
T
EASE
ls • Performance Management System 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
SAFETY Performance the closure of identified findings and the 23
Objectives: Deliver best in class implementation of corrective actions to 9
performances in term of Operation. strengthen OE performance, rather than
Relevant OE System: undertaking standalone OE or HSE 7 5 2
12
• HSESS assessments. In parallel, reliability 17
• M&R and A&OI improvement initiatives were implemented 10 8
• Cost Management Product Monitoring to address operational challenges, including 24
20 18 13
& Optimisation 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
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2025 Management Business Company Corporate Sustainability
102 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 103
Occupational Health
and Safety
Advancing Operational Excellence introduction to the Heat Recovery Steam Occupational Health And Hazard Identification, Work Risk (HIRADC) protocols, while non-routine and Incident investigations are conducted
through Digital Information Systems Generator (HRSG) and steam turbine Assessment, and Incident project activities follow Job Safety Analysis by independent teams appointed by
admission. For the East Bali Solar PV,
Safety Management System (JSA) procedures. These risk management senior management. These teams
The Company also recognises information [GRI 403-1] Investigation [GRI 403-2]
PSSR was completed prior to initial processes are complemented by structured work with operational personnel to
as a critical asset in supporting Operational The Company’s OHS Management System Medco Power further strengthens
plant energisation. hazard control measures, proactive determine root causes and develop
Excellence across its IPP and O&M (OHSMS) provides a structured approach Operational Excellence by embedding maintenance and reliability programmes, corrective actions to prevent recurrence.
businesses. To strengthen governance hazard control, maintenance, and reliability
Asset Integrity to identifying, evaluating, and controlling and process safety, all of which support Investigation findings are documented
and address fragmented documentation workplace hazards across all operational practices throughout its operations. Routine Operational Excellence by enhancing and tracked through closure of
practices, the Company implemented a As part of Medco Power’s Operational activities utilise Hazard Identification and
facilities. This system is aimed to address safety, ensuring operational continuity, recommended actions.
structured Document and Information Excellence (OE) initiatives, comprehensive Risk Assessment Determined Control
risks related to daily operations, maintenance and improving overall asset performance.
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 Types of Occupation with Risk of Occupational Diseases Based on Business Unit [GRI 403-2] [GRI 403-10]
The system enhances document control, asset integrity risks. Key assessment Law No. 1 of 1970 on Occupational Safety,
traceability, and knowledge transfer, Power Plant Type High Risk Occupation Type Preventive Measure
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 Coal-Fired Operation and maintenance • Education about the dangers of noise and how to use hearing protection properly
demonstrated in key projects such as Ijen Direct Current Voltage Gradient (DCVG), September 25, 2020, establishing the Policy Power Plant of rotating equipment and • Conducting special examinations on workers exposed to noise (audiometry),
Geothermal and East Bali Solar PV. Looking followed by Risk‑Based Inspection (RBI) on Quality, Safety, Occupational Health, and emitting steam flow (noise) measuring noisy work environments, and noise exposure dose received by
ahead, Medco Power continues to advance and Quantitative Risk Assessment (QRA) the Environment. This policy applies uniformly workers periodically
its digital transformation by exploring for the 38.5‑kilometre, 12‑inch MRPR Gas across Medco Power and its subsidiaries. • Provision of hearing protection adjusted to the Noise Rating reduction (NRR)
AI-enabled solutions to further improve Distribution Pipeline, which was segmented • Ensuring full readiness of fire protection equipment – including detection,
information accessibility, decision-making, into 43 sections for detailed risk evaluation. The OHSMS establishes mandatory alarm, suppression, hydrant, and emergency response tools – supported by
and long-term operational efficiency. standards for all personnel operating within regular inspection, testing, maintenance, and trained personnel to enable rapid
The assessments leveraged ILI, CIPS, Company facilities. Aligned with last year, and effective fire control
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 Geothermal Operation and maintenance • Education about the dangers of hot steam and H2S gas for health and the use
Occupational Health and Safety Management
profiles, perform systematic risk ranking, Power Plant of power plants of appropriate respiratory protective equipment
Operability Assurance (OA) processes System (OHSMS) that is mandatory for
and define optimised inspection and • Conducting measurements and monitoring in the work environment and
were also aligned with OE standards during all Workers. The implementation of the
maintenance strategies in accordance measuring the exposure dose received by workers periodically
key projects including key assurance gates OHSMS ensures protection for employees
with risk‑based integrity management • Provision of respiratory protective equipment that is appropriate to the conditions
for ELB Expansion Combined Cycle Power across operations. In 2025, the Company,
principles. The outcomes of the RBI and through its Subsidiaries, MPE, MEB, EPE, Combined Cycle Operation and maintenance • Health risk assessment, periodic health checks, work environment health checks,
Plant (CCPP) in Batam, MSBT in Bali and
QRA enabled the prioritisation of critical and ELB, maintains the OHSMS certification Power Plant of power plants routine socialisation through health talk sessions
MCG in Ijen, to ensure operational readiness
integrity threats and supported data‑driven with a “Satisfactory” predicate. [GRI 403-8] • Education about the dangers of noise and how to use hearing protection
prior to commissioning and facilitating
decision‑making related to maintenance equipment properly
smooth transitions to commercial operation.
planning, inspection intervals, and capital Supporting certifications maintained in 2025 • Conducting special examinations on workers exposed to noise (audiometry), noisy
In support of this approach, Medco Power investment, while maintaining high include ISO 14001:2015 (Environmental work environments, and the dose of noise exposure received by workers periodically
has implemented a suite of assurance standards of operational reliability and Management System), ISO 9001:2015 • Provision of personal protective equipment appropriate to the type of work
measures throughout the project lifecycle, personnel safety. (Quality Management System), and
ISO 45001:2018 (Occupational Health Mini Hydro Operation and maintenance • Occupational safety education and proper use of personal protective equipment
including Pre‑Start‑Up Safety Reviews Power Plant of power plants Provision of personal protective equipment appropriate to the type of work
In alignment with the ‘Do’ and ‘Adjust’ and Safety Management System). •
(PSSR), Operational Readiness Reviews Provision of anti-snake venom serum and grab sticks
phases of the OE Plan‑Do‑Check‑Adjust •
(ORR), Commissioning Assurance, and Use of bee nets
(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 Gas Engine Operation and maintenance • Education about the dangers of noise and how to use hearing protection properly
measures are designed to ensure the safe
addressed in 2025 through preventive attention to Fire Hazard and Line of Fire, Power Plant of power plants • Conducting special examinations on workers exposed to noise (audiometry),
achievement of the Commercial Operation
repair activities. These interventions to strengthen preventive controls and conducting measurements of noisy work environments, and measuring the
Date (COD) and are underpinned by the
were implemented to mitigate elevated improve operational safety performance. noise exposure dose received by workers periodically
Company’s Major Project Excellence
risk levels and to prevent potential Leadership visibility in OHS matters was • Provision of appropriate personal protective equipment
framework, which governs consistent
loss‑of‑containment scenarios. reinforced through site visits and training
implementation and application across Gas-Fired Operation and maintenance • Health risk assessments, periodic health checks, work environment health
programmes, alongside initiatives promoting
all major projects. Building on these efforts, Medco Power Power Plant of power plants checks, routine socialisation through health talk sessions
incident reporting and adherence to work
continues to strengthen its asset integrity authorisation procedures. • Education about the dangers of noise and how to use hearing protection properly
As part of its strong commitment
management programme by expanding its • Conducting special examinations on workers exposed to noise (audiometry),
to operational safety, reliability, and
scope beyond pipeline systems to include In addition, the Occupational Health and conducting measurements of noisy work environments, and measuring the
sustainability, Medco Power successfully
power generation facilities. Ongoing Asset Safety Management System is supported noise exposure dose received by workers periodically
conducted PSSR and ORR as key operational
Integrity baseline inspection programme as by several key components that help • Provision of personal protective equipment appropriate to the type of work
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. Solar PV Operation and maintenance • Education about the dangers of heat and electricity
programme, assessments, condition safety into its operations. These include
Power Plant of power plants • Education on how to use personal protective equipment properly
For the ELB Expansion CCPP, steam monitoring, and structured follow‑up actions processes for hazard identification, risk
• Provision of anti-snake venom serum and grab sticks
blowing and steam admission were are being implemented to enhance holistic assessment, incident investigation, the
• Use of bee nets
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.
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2025 Management Business Company Corporate Sustainability
104 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 105
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 ELB Gas-fired, Riau Islands
• 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
Strengthening Safety Culture meets established safety benchmarks. Awards (IBEA) at the Bidakara Hotel,
health initiatives in 2025 to address broader to address HSE and OHSMS risks, at Sulut-1 O&M (May 6-8, 2025) This proactive approach demonstrates Jakarta, on July 2025. The award
public health concerns. This initiative included monitoring and evaluation, and continuous covering HSE Leadership, hazard As Medco Power expands its portfolio
the Company’s commitment to establishing recognised MCG as the Best Independent
education on treatment adherence, infection improvement. The Company maintains an awareness, Golden Rules and Life and prepares new assets for commercial
robust safety foundations in new operational Power Producer (IPP) for Renewable
prevention, and family support roles, alongside HSE Committee with worker representatives Saving Rules, First Aider readiness, operation, embedding safety culture from
units from the earliest stages of asset Energy Power Plants in Technological
donation of staple goods to ease patients’ from each division and department, and environmental management the outset remains a strategic priority.
lifecycle management. Innovation. MCG completed the
financial burden during treatment. responsible for policy development and • Life-Saving Rules (LSR) field In May 2025, the Corporate HSESS
development of the Ijen Geothermal
guideline updates. [GRI 403-4] verification for all Medco Power (Health, Safety, Environment, Social, Best Independent Power Unit 1 and achieved commercial operation
Further strengthening its health programmes, operational assets and Security) team conducted an intensive
Producer Company in early-February 2025.
ELB formalised partnerships to address Programme implementation is measured • Continuation of the Predictive safety three-day training and walkdown
infectious diseases in the workplace. The through HSE Performance Indicators programme at Sulut-1 O&M in North Medco Power through its subsidiary MCG,
performance implementation in
Education and Partnership Signing Event with (HSEPI) and Leading Indicators, covering Sulawesi, a facility in final preparation received the 2025 Indonesia Best Electricity
Medco Power
Yayasan Lintas Nusa established ongoing management engagement, regulatory stages for Commercial Operation Date
initiatives for HIV/AIDS and TB prevention, compliance, training, and safety campaigns. Asset Integrity (COD) under an Operations and
including regular educational sessions, health Both employees and contractors participate in Maintenance (O&M) scheme managed by
Asset integrity and process
screenings, contact tracing, and treatment OHS training programmes. Key OHS activities subsidiary MPES-Sulut.
safety verification
support. This partnership operationalises implemented in 2025 include: [GRI 403-5]
• Process safety event metrics tracking The programme engaged all Sulut-1 O&M
• Business continuity governance evaluation employees in comprehensive training
covering HSE Leadership principles,
Emergency Preparedness workplace hazard awareness, Golden
Emergency Response Campaign 2025 Rules and Life Saving Rules application,
organised by MRPR in Pekanbaru First Aider team readiness, and
(September 2025) environmental management aligned
• Engagement with local officials and with regulatory requirements and
residents surrounding Riau Combined sustainability principles. Following
Cycle Power Plant classroom sessions, the Corporate
• Awareness sessions on fire response, HSESS team and site management
gas leakage, and natural disaster protocols conducted facility walkdowns to verify
• Socialisation of official complaint procedures safety standard implementation and identify
• Coordination strengthening among improvement opportunities prior to COD.
company, community, and
local government Findings from these observations
Medical equipment assistance for Posyandu, Riau were documented and prioritised for Indonesia Best Electricity Awards Event, Jakarta
resolution, ensuring operational readiness
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2025 Management Business Company Corporate Sustainability
106 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 107
Occupational Health Community Development
and Safety
Performance [OJK B.3] [GRI 3-3]
Ijen Geothermal is the first geothermal Through its subsidiary TJBPS, the Company Resources Regulation No. 10 of 2021. Medco Power positions community strengthen relationships, share information, Public Complaint Mechanism
power plant in Indonesia to use a two-phase maintains a Security Management System These requirements cover the full lifecycle development as a core element of its and ensure that any emerging needs are [OJK F.24]
binary system, offering advantages such (SMS) at Tanjung Jati B CFPP, holding of power generation activities, including business performance, ensuring that addressed constructively.
as 100% reinjection to maintain reservoir PROPER Green status. This system planning, construction, inspection and testing, its achievements are complemented by As part of its commitment to active
pressure, reduced make-up well requirements, complies with Decree of the Minister of operation and maintenance, as well as measurable social contributions to the To strengthen this approach, Medco communication, Medco Power recognises
cost efficiency, and optimised power Energy and Mineral Resources Number monitoring, to ensure that safety is prioritised communities surrounding its operations. Power routinely conducts Social Impact that providing accessible channels for
generation by utilising both upflow and 3407.K/Mem/2012 concerning National Vital and operational risks are effectively managed. Assessments to identify potential impacts communities to express concerns strengthens
brine. Inaugurated by the President of the Objects (Obvitnas) in the ESDM sector and Medco Power maintains a balanced on local communities. These assessments trust, transparency, and collaboration.
Republic of Indonesia, Prabowo Subianto, Chief of Police Regulation Number 27 of The Company conducts periodic reviews approach between business value creation involve key stakeholders, including local Through the Public Complaint Handling
on June 2025, Ijen Geothermal is also the 2009 on Security Management Systems. of potential environmental and social and community contribution to support governments, community groups, and Procedure, which can be accessed via
first geothermal power plant in East Java, impacts arising from its operations to inclusive and sustainable development. civil society organisations to ensure corsec.mpi@medcoenergi.com, communities
operating on 117 hectares and supplying The Contractor Safety Management System support responsible and sustainable power Community development is an integral that findings reflect actual needs and may submit complaints, suggestions, or
green energy to 85,000 households (CSMS) governs contractor engagement generation. Clear and structured procedures component of the Company’s responsibility issues. Medco Power ensures that all other relevant information to the Company.
while avoiding approximately seven million from planning through work completion. are in place to manage operational issues and is regarded as one of the elements existing and planned operational activities As communities are key stakeholders,
tons of CO2 emissions during the Contractor selection criteria include local that may affect service quality or the that defines overall business performance undergo a comprehensive social impact this mechanism forms an integral part of
operational life of Unit 1. workforce qualification and training reliability of power supply. Throughout 2024, alongside financial and operational targets. evaluation, which forms the basis for the Company’s Stakeholder Engagement
verification. When available, qualified local there were no major incidents or disruptions designing more targeted and effective risk Procedure. For Medco Power, this channel
Appreciation for the award was expressed workers from communities surrounding that adversely affected the Company’s Medco Power implements its commitment prevention and management programmes. enables a timely and effective response to
by Femi Sastrena, President Director of operational sites receive hiring preference. ability to supply electricity, reflecting the through a portfolio of sustainable social In2025, the Company conducted a community inputs and supports continuous
MCG, noting that the recognition further effectiveness of its integrated operational programmes. These programmes are guided Social Impact Assessment with the improvement in its operational practices.
motivates the power plant to be operated Contractor activities encompass Operation assurance and quality management systems. by policies that prioritise improvements in following results: [GRI 413-2]
safely and in accordance with the principles & Maintenance/Overhaul Services, Building education, social welfare, and environmental In 2025, the Company received
of Operational Excellence, while adhering to Construction, Catering Services, Security, Occupational Health and quality for communities surrounding its 1. Supporting local economic development 14 community grievances related to
the Power Purchase Agreement with PLN. Equipment Certification/Calibration, operational areas. Social welfare initiatives by offering employment opportunities environmental concerns in the areas
Consulting, External Audits, Laboratory
Safety Performance Metrics include support for health infrastructure for surrounding communities and surrounding its operations, all of which
Implementation of OHS for Services, and Supply Chain operations. OHS performance indicators provide and assistance for communities affected enabling local businesses to take were addressed appropriately. One of the
Work Partners measurable data on the effectiveness of by natural disasters. Building on these part in the Company’s supply chain. grievances came from the community near
Product Safety Company safety programmes. In 2025, focus areas, Medco Power has established 2. Improving public infrastructure the hydropower plant in Cianjur, operated by
The Company’s commitment to workplace [OJK F.27] [OJK F.28] [OJK F.29] both short-term and long-term community through initiatives such as river BJI. The complaint related to the condition
Medco Power maintained its approach
safety extends to all contractor personnel development targets. Short-term priorities basin rehabilitation, free electricity of the drainage system, which overflowed
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 emphasise education and social initiatives, installation for underprivileged during heavy rain and affected nearby fish
Recognising that contractors perform electricity that meets high standards of
able to understand the work being carried out, while long-term priorities cover education households in collaboration with PLN, ponds, with the community expressing
essential functions across construction, safety, quality, and reliability in accordance
the danger factors and how to control the risks. and environmental programmes that require renovation of the Jampit Village Mosque, concerns about possible contributions
operations, and maintenance activities, the with its contractual obligations. This
sustained, multi-year implementation. and construction of additional classrooms from the Company’s activities. In response,
Company has established comprehensive commitment is underpinned by compliance The Company will continue advancing for Madrasah Durun Nafis. the Company undertook the necessary
safety management protocols applicable with Power System Safety (Keselamatan OHS performance through the Operational All programmes are designed to align with 3. Supporting the construction of repairs and provided compensation to
to all external workers. Ketenagalistrikan) requirements as stipulated Excellence Programme and related the characteristics of each operational the Neighbourhood Security Post affected community members. These steps
in the Ministry of Energy and Mineral initiatives in the coming year. 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.
OHS Performance Data [GRI 403-9] impact. To ensure these programmes are facility to support children’s religious
Description 2023 2024 2025 well-managed, measurable, and responsive education activities in Tenayan CSR Activities [OJK F.25] [GRI 413-1]
to stakeholder needs, Medco Power Industrial Village.
Medo Power OHS Performance Data conducts Social Impact Assessments, In 2025, the Company delivered various
5. Renovating and electrifying Integrated Corporate Social Responsibility (CSR)
Number of Fatalities 0 0 0 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:
Lost Time Incident Rate (LTIR) 0.0 0.0 0 Social Responsibility (CSR) activities Tuah Negeri Village.
Total Recordable Incident Rate (TRIR) 0.0 0.43 2.54 across its operations. Renovating early childhood education
6. Education
Occupational Disease Rate 0.0 0 0 facilities (Pendidikan Anak Usia
Social Impact Assessment Dini/PAUD) to meet safety and • Promoting Learning about the
Contractor OHS Performance Data hygiene standards. Energy Industry through the
As part of its commitment to social
Building awareness among students Employee Teaching Programme
Number of Fatalities 0 0 0 responsibility and sustainability, 7.
through the Medco Mengajar programme, The Employee Teaching Programme is
Medco Power remains focused on
Lost Time Incident Rate (LTIR) 0 0 0 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
Total Recordable Incident Rate (TRIR) 0 0.57 0 communities. This commitment is
to promote responsible and safety- high school students to the power plant
Occupational Disease Rate 0 0 0 implemented through high operational
conscious behaviour. industry, sustainability, and climate change
standards, environmentally responsible
OHS Performance Data - Consolidated 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
Number of Fatalities 0 management practices, and strict
religious and national celebrations, to school in Batam as part of the School
compliance with applicable regulations.
Lost Time Incident Rate (LTIR) 0 help build a collaborative and positive Environment Introduction Period (Masa
The Company also maintains continuous
relationship with stakeholders. Pengenalan Lingkungan Sekolah/MPLS)
Total Recordable Incident Rate (TRIR) 0.59 engagement with local communities to
and engaged more than 400 new students.
Occupational Disease Rate 0
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108 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 109
Community Development
Performance
For its contribution to vocational The programme provided capacity- patients at Embung Fatimah Regional Similar initiatives were also implemented Before the programme, KUBE Temu Geothermal site and an area with
education in the region, a recognition building sessions covering business General Hospital in Batam in July 2025. in Batam by BJI and MEB. In addition, a Kasih produced approximately 30 sacks of limited access to healthcare services.
was awarded from the Governor of Riau legality, basic licensing processes, and During the session, the team and hospital collaboration with the Provincial Energy crickets per month with an income The programme helps residents obtain
Islands. This recognition strengthens financial management practices, including staff delivered education on tuberculosis, and Mineral Resources Office of Riau of around IDR 350,000. Following basic health services more easily and
Medco Power’s commitment to continuing simple bookkeeping and cash flow highlighting treatment adherence, infection Islands Province was conducted by MEB infrastructure support, farming media, promptly. The initiative is implemented
and expanding the Employee Teaching management. This initiative supports prevention, and the importance of family to expand electricity access, providing and seed assistance provided in late in collaboration with Puskesmas Sempol,
Programme to reach more schools. women’s economic participation and involvement in the recovery process. electricity support to 20 underprivileged 2024, productivity increased significantly. strengthening coordination between the
Through this collaboration between promotes more resilient and sustainable Staple goods were also provided to help households. In recognition of this Within eight months, the group sold Company and local health institutions
industry and the education sector, the community livelihoods. reduce the financial burden faced by contribution, the initiative received more than 1,600 sacks, generating to improve community health in the
Company supports the development of a patients during treatment. acknowledgement from the Governor IDR28 million in revenue, nearly 10 times surrounding area. In addition, stunting and
skilled and future-ready young generation. • Promoting Healthy and Safe Learning of the Riau Islands. the previous level. KUBE Temu Kasih malnutrition prevention and intervention
through an Integrated PAUD Programme This initiative reflects Medco Power’s now operates independently and has activities were carried out across Ijen sub-
• Promoting Energy Awareness among To support early childhood development, ongoing commitment to contributing to • Advancing Circular Economy Through established a stable marketing network district, including health screenings for
Elementary Students through MRPR implemented an Integrated Early community well-being and supporting Eco-Friendly Cricket Farming in Pekanbaru. Guidance and monitoring stunted and malnourished toddlers,
Renewable Energy Education Childhood Healthy Learning Programme the areas where the Company operates. As part of its commitment to supporting process are continuously undertaken to as well as medical examinations for
As part of its commitment to supporting that combines infrastructure improvement community economic independence and help ensure transparency and long-term women during pregnancy conducted
a greener and more sustainable future with health and hygiene education. • Building Local Skills through sustainable environmental management, sustainability of the programme. by paediatricians and obstetricians.
through education, Ijen Geothermal The programme was carried out at a Bamboo Craft Training in MRPR implemented a circular economy- These efforts also promote health
visited SD 02, a public elementary school PAUD facility within the operational area. Tenayan Industri Village based community development programme • Expanding Access to Basic awareness as a foundation for improved
in Bondowoso Regency, East Java. The Medco Foundation, in collaboration through eco-friendly cricket farming. The Healthcare for Communities well-being and productivity.
During the visit, students were introduced The initiative included renovation of with MRPR, carried out a bamboo initiative was carried out in collaboration As part of its Corporate Social Responsibility
to the fundamentals of geothermal the PAUD building to meet safety and craft training programme for residents of with the “Temu Kasih” Joint Business commitment, MCG and MPGS regularly
energy and its environmental benefits, hygiene standards, complemented by Tenayan Industri Village, Pekanbaru City. Group (Kelompok Usaha Bersama/KUBE) conduct free health check-ups in Curah
and provided pocketbooks for both age-appropriate education on healthy daily The initiative aimed to develop local in Kelurahan Industri Tenayan, Pekanbaru. Macan, the closest village to the Ijen
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 Cricket Farming Programme, Riau
local economic development.
to drug-resistant tuberculosis (TB-RO) Pelayanan Pelanggan) Cianjur.
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2025 Management Business Company Corporate Sustainability
110 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 111
Community Development Statement Letter of the Board of
Performance
Commissioners and Board of Directors
• Strengthening Community areas. The assistance included The second phase involves a 12-month We, the undersigned, being the members of the Board of Commissioners and Board of Directors of the Company, hereby, declare that
Health Services through Integrated donations for 30 orphans by PPP, maintenance and replanting period, we are fully responsible for preparation and presentation of the 2025 Annual and Sustainability Report and 2025 Financial Statements.
Health Services Centre (Posyandu) support for 65 orphans by BJI, and supported by regular monitoring and All information in the 2025 Annual and Sustainability Report and 2025 Financial Statements have been fully and accurately disclosed and
Equipment Support rice distribution to 65 underprivileged documentation. The programme contributes the Reports do not contain false information or omitted information or material facts.
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. In witness whereof, the undersigned have drawn up this statement truthfully.
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,
As part of its community economic beginning with regular waste collection Jakarta, April 2026
cadres in using modern tools and supports
government priorities on stunting reduction empowerment efforts, MRPR implemented and education on proper disposal
Prepared by:
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 Eka Satria
The initiative was conducted in biofloc-based catfish cultivation, empowerment, environmental President Director &
collaboration with the Indonesian the initiative promotes family-based improvement, and collaboration between Chief Executive Officer
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 Femi Firsadi Sastrena Myrta Sri Utami Imron Gazali
from the Mayor of Pekanbaru and PMI, was implemented as part of the
on World Environment Day 2025 Director & Chief Director & Director &
recognising the Company’s role in Company’s commitment to sustainable
On World Environment Day 2025 (June 5), Commercial and Business Chief Financial Officer Chief Operating Officer
supporting community health initiatives. environmental management and
ELB and MEB collaborated with the Batam Development Officer
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 Approved by:
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 Amri Siahaan
was carried out in two phases in alignment
bonds between the Company and benefits for surrounding communities. President Commissioner
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 Darmoyo Doyoatmojo M. Teguh Pamuji
social assistance programmes to support bamboo seedlings, adapted to site Commissioner Independent Commissioner
underprivileged communities and conditions based on joint surveys with
orphanages across several operational the Indragiri Rokan Watershed Agency.
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2025 Management Business Company Corporate Sustainability
112 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments 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
Attachments
ELB Gas-fired, Riau Islands
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2025 Management Business Company Corporate Sustainability
114 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 115
Company Organisational
Structure Structure
PT Medco Energi Internasional Tbk PT Medco Power Internasional President Director &
Chief Executive Officer
Eka Satria
PT Medco Kansai Power Indonesia PT Dalle Panaran
Director & Chief
Director & Commercial and Business Director &
PT Medco Geothermal Chief Operating Officer Development Officer Chief Financial Officer
PT Energi Prima Elektrika
Nusantara
Imron Gazali Femi Firsadi Myrta Sri Utami
PT Medco Power Sentral Sastrena
PT Multidaya Prima Elektrindo
Sumatera
Sr. Manager VP Legal,
PT Medco Ratch Sr. VP Project &
PT Dalle Energy Batam VP Operation VP Commercial Corporate Accounting & Corporate Secretary &
Power Riau Development
Functional Excellence Communications
Raja D. Noerhadi Vinolia Suriyanto Herry Wijanto
PT Medcopower Servis
Budi Setyawan George Cornelis
PT Medco Energi Menamas
Indonesia
VP Health,
VP Operation & Sr. Manager Sr. Manager VP Human Resources &
PT Mitra Energi Batam PT Medco Solar Pasifik Safety, Environment,
Maintenance Services New Ventures Corporate Finance Business Support
Social & Security
Syaripuddin Aria Gunanto Latief Aditya Simapranata Agus Mulyana Andy J. Effendi
PT Medco Pasifik Solar
PT Universal Batam Energy
Transmisi
Sr. Manager Business VP Government Relations
PT Medco Power Energi VP Gas to Power & Sr. Manager
Development & VP Solar & Wind
PT Energi Listrik Batam New Technology Corporate Treasury
Services Sustainability Kristyaningrum
Norman F. Slamet Endang Pamularsih Adrianto Darmoyo
Joko S. Yekti Yunita
PT Medco General Power PT Medcopower Elektrika
Services Indonesia
Sr. Manager Manager Corporate VP Supply Chain
VP Geothermal
PT TJB Power Services PT Medco Hidro Indonesia Asset Management Planning & Budgeting Management
Yunita Rustiandini Stephania Liedy (Act) Novianto Yudhi Istaryadi
PT Medco Power PT Nawakara Energi
Geothermal Services Sumpur
Sr. Manager Manager Corporate Manager Internal Audit &
PT Medco Geothermal Sarulla PT Sangsaka Hidro Barat Operation Engineering Investment Appraisal Integrity Compliance
Akhmad Dumami (Act) Dipta Diwasasyri Nyimas Dewi Andriani
PT Pembangkitan Pusaka
PT Medco Geopower Sarulla
Parahiangan
Sr. Manager Manager Shared
Sarulla Operations Ltd PT Sangsaka Agro Lestari Technical Assurance Services & Transformation
Akhmad Dumami Hendra Yoswandi
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
Board of Directors
Active Company
PT Teknologi Data Infrastruktur PT Muara Enim Multi Power PT Medco Power
Dormant Company Indonesia
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116 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 117
List of Cross Reference to
Abbreviations OJK Requirements
1 ABMS Anti-Bribery Management System 57 MPEI Medco Power Elektrika Indonesia
SEOJK No. 16/SEOJK.04/2021 Page
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 Annual Report Format
4 BJI PT Bio Jatropha Indonesia 60 MPGE PT Medco Power Geothermal Energi 1. Annual report is presented in printed and electronic formats.
5 BOC Board of Commissioners 61 MPGS PT Medco Power Geothermal Services
6 BOD Board of Directors 62 MPSI PT Medcopower Servis Indonesia 2. The printed version of the annual report is printed on light-colored paper of fine quality, in A4 size, bound, and can
7 CCBDO Chief Commercial & Business Development Officer 63 MPSS PT Medcopower Solar Sumbawa be reproduced in good quality.
8 CCPP Combined Cycle Power Plant 64 MPST PT Medco Pasifik Solar Transmisi 3. Annual report may present information in the form of images, charts, tables and/or diagrams with clear titles and
9 CEO Chief Executive Officer 65 MPTL PT Medcopower Transportasi Listrik descriptions to facilitate reading and understanding.
10 CFO Chief Financial Officer 66 MRPR PT Medco Ratch Power Riau 4. The electronic version of the annual report is presented in pdf format.
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 Annual Report Content
13 Company PT Medco Power Indonesia 69 MSCI Morgan Stanley Capital International I. General Provision
70 MW Mega Watt
14 COO Chief Operating Officer
71 MWp Mega Watt peak a. Annual report at least contains the following information:
15 CSR Corporate Social Responsibility
72 NZE Net Zero Emissions 1. Summary of key financial information
16 DEB PT Dalle Energy Batam
73 O&M Operation & Maintenance 2. Stock information (if any)
17 E&P Exploration & Production
74 OE Operational Excellence
18 EBITDA Earnings before Interest, Tax, Depreciation 3. Board of Directors Report
and Amortization 75 OEM Original Equipment Manufacturers
19 EDMS Electronic Document Management System 76 OHS Occupational Health and Safety 4. Board of Commissioners Report
20 ELB PT Energi Listrik Batam 77 OHSMS OHS Management System 5. Profile of Issuer or Public Company
78 OJK Financial Services Authority
21 ELB Expansion PT Energi Listrik Batam 6. Management discussion and analysis
79 OSS-RBA Online Single Submission Risk-Based Approach
22 EPC Engineering, Procurement, Construction
80 PDCA Plan–Do–Check–Adjust 7. Corporate Governance of Issuer of Public Company
23 EPE PT Energi Prima Elektrika
81 PGN PT Perusahaan Gas Negara Tbk 8. Corporate social and environmental responsibilities of Issuer of Public Company
24 ESDM Indonesian Ministry of Energy and Mineral Resources
82 PJBL Perjanjian Jual Beli Listrik
25 ESG Environmental Social Governance 9. Audited annual financial statements
83 PLN PT Perusahaan Listrik Negara (Persero)
26 FRA Fraud and Bribery Risk Assessments 10. Statement from members of Board of Directors and members of Board of Commissioners on accountability
84 PLNB PT Pelayanan Listrik Nasional Batam
27 FX Foreign Exchange for the Annual Report
85 PLTGU Combined Cycle Power Plant
28 GCG Good Corporate Governance 2. Description of Content of Annual Report
86 POJK Financial Services Authority Regulations
29 GMS General Meeting of Shareholders
87 PPA Power Purchase Agreement a. Summary of Key Financial Information
30 GRI Global Reporting Initiative 88 PPP PT Pembangkitan Pusaka Parahiangan Summary of Key Financial Information contains financial information presented in 3 (three) fiscal year
31 GWh Giga Watt hour 89 PROPER Company Performance Rating Programme in comparisons or since the commencement of the business if the Issuer or Public Company started its business
32 Ha Hectare Environmental Management for less than 3 (three) years, and at least contain:
33 HIRADC Hazard Identification and Risk Assessment 90 PSPE Preliminary Survey and Exploration
1. Revenue/Sales
Determined Control 91 PT Limited Liability Company
34 HO Head Office 92 PV Photovoltaics 2. Gross profit
35 HR Human Resources 93 Q Quarter 3. Profit (loss)
36 HRSG Heat Recovery Steam Generator 94 ROA Return on Assets
4. total profit (loss) attributable to equity holders of the parent entity and non-controlling interest
37 HSE Health, Safety and Environment 95 ROE Return on Equity
38 IDX Indonesia Stock Exchange
5. Total comprehensive profit (loss)
96 Rp Rupiah
39 IPP Independent Power Producer 97 RUPTL Electricity Supply Business Plan 6. Total comprehensive profit (loss) attributable to equity holders of the parent entity and non-controlling
40 ISO International Organization for Standardization 98 SCM Supply Chain Management interest
41 JSA Job Safety Analysis
38-39
99 SEOJK Financial Services Authority Circular Letter 7. Earning (loss) per share
42 KPI Key Performance Indicator 100 SRMC Sustainability & Risk Management Committee
8. Total assets
43 KWh Kilo Watt hour 101 SKK Migas Special Task Force for Upstream Oil and
44 LNG Liquefied Natural Gas Gas Business Activities 9. Total liabilities
45 LOI Letter of Intent 102 SMK3LL Occupational Health, Safety, and Environmental 10. Total equities
Management System
46 LSR Life-Saving Rules
103 SKKNI Sertifikat Kompetensi Tenaga Teknik Ketenagalistrikan 11. Profit (loss) to total assets ratio
47 LTI Lost Time Incident
104 SKTTK Standar Kompetensi Kerja Nasional Indonesia 12. Profit (loss) to equities ratio
48 LTIR Lost Time Incident Rate
105 SOL Sarulla Operations Ltd
49 MCG PT Medco Cahaya Geothermal 13. Profit (loss) to income ratio
106 TDI PT Teknologi Data Infrastruktur
50 MEB PT Mitra Energi Batam 14. Current ratio
107 TRIR Total Recordable Incident Rate
51 Medco Power PT Medco Power Indonesia
108 TJBPS PT TJB Power Services 15. Liabilities to equities ratio
52 MedcoEnergi PT Medco Energi Internasional Tbk
109 US$ US Dollar 16. Liabilities to total assets ratio
53 MGS PT Medco Geothermal Sarulla
110 USTDA United States Trade and Development Agency
54 MGSu PT Medco Geothermal Sumatera 17. Other information or financial ratios relevant to the Issuer or Public Company and the type of industry
111 VP Vice President
55 MMBTU Million British Thermal Unit
112 YPK PLN Yayasan Pendidikan dan Kesejahteraan PT PLN (Persero)
56 MPE PT Mutidaya Prima Elektrindo
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OJK Requirements
SEOJK No. 16/SEOJK.04/2021 Page SEOJK No. 16/SEOJK.04/2021 Page
b. Stock Information 3. Brief history of the Issuer or Public Company. 36-38 32-34
Stock information (if any) contains at least:
4. Vision, mission and corporate culture/values of the Issuer or Public Company. 35
1. Shares issued for every quarter presented in a comparative format for the last 2 fiscal years, covering at
5. Line of business according to the latest articles of association, line of business carried out in the fiscal year,
least: 26-27
and types of products and/or services produced.
(a) Number of outstanding shares
6. The operation coverage of the Issuer or Public Company. 2-3
(b) Market capitalisation is based on the price at the stock exchange where the shares are listed on
7. Structure of organisation of the Issuer or Public Company in chart format, at least covering one level below
(c) Highest, lowest, and closing share prices at the stock exchange where the shares are listed on 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.
(d) Trading volume at the stock exchange where the shares are listed on.
8. Memberships in national and international industry associations. 43
(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; 9. Profiles of members of the Board of Directors, covering at least:
2. In the event of corporate actions, such as stock split, reverse stock, issuance of dividends, issuance of bonus (a) Name and position according to duties and responsibilities
shares, and change in share par value, then the share price referred to in point 1) should be added with 42
(b) Lates photograph
explanation on:
(c) Age
(a) Date of corporate action
(d) Citizenship
(b) Ratios of stock split, reverse stock, dividend, bonus share and changes in the shares’ par value
(e) Education and/or certification
(c) Number of outstanding shares prior to and after corporate action
(f) Employment history, covering information on:
(d) Amount of convertible bonds/stocks exercised (if any) 37
(1) Legal basis for the appointment as a member of the Board of Directors to the said Issuer or Public
(e) Share price prior to and after corporate action.
Company
3. In the event that the company’s shares were suspended or delisted from trading during the financial year,
(2) Concurrent positions, as a member of the Board of Directors, a member of the Board of
then the Issuer should provide explanation on the reason for the suspension and/or delisting.
Commissioners, and/or a member of committees and other positions (if any)
4. In the event that the suspension and/or delisting as referred to in point 3) was still in effect until the date of
(3) Work experience and term of office in and outside of the Issuer or Public Company
the annual report, then the Issuer or Public Company should explain the actions taken to resolve the
suspension and/or delisting. (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
c. The Board Of Directors Report
The Board of Directors report should at least contain: (h) Changes and reasons for the change in the composition of the Board of Directors.
1. The performance of the Issuer or Public Company, at least covering: 10. Profiles of members of the Board of Commissioners, covering at least:
(a) Strategy and strategic policies of the Issuer or Public Company (a) Name and position
(b) The roles of the Board of Directors in the Issuer’s or Public Company’s strategy and strategic policy (b) Latest photograph
12-14
formulation
(c) Age
(c) Actions taken by the Board of Directors to ensure the implementation of the Issuer’s or Public Company’s
(d) Citizenship
strategies
(e) Education and/or certification
(d) Comparison between results and targets
(f) Employment history, covering information on:
(e) Challenges faced by the Issuer or Public Company.
(1) Legal basis for the appointment as a member of Board of Commissioners
2. Description of business prospects. 15
(2) Legal basis for the first appointment as a member of the Board of Commissioners who is also an
3. Implementation of the Issuer’s or Public Company’s GCG practices. 13-15
Independent Commissioner at the said Issuer or Public Company
d. The Board Of Commissioners Report 36
(3) Concurrent positions, as a member of the Board of Commissioners, a member of the Board of
The Board of Commissioners report should at least contain:
9 Directors, and/or a member of committees and other positions (if any)
1. Assessment on the performance of the Board of Directors in the management of the Issuer or Public
(4) Work experience and term of office in and outside of the Issuer or Public Company
Company.
(g) Disclosure of affiliation with other members of the Board of Commissioners, the majority shareholders (if
2. View on the business prospects of the Issuer or Public Company as prepared by the Board of Directors. 11
any), including the name of the affiliated party
3. View on the Issuer’s or Public Company’s GCG practices. 9-11
(h) Statement of independence of Independent Commissioner in the event that the Independent
e. Profile of the Issuer or Public Company Commissioner has been appointed more than 2 (two) periods
Profile of the Issuer or Public Company should cover at least:
(i) Changes and reasons for the change in the composition of the Board of Commissioners.
1. Name of Issuer or Public Company, including change of name, reason of change, and the effective date of
11. In the event that there were changes to the composition of the Board of Directors and/or the Board of
the name change during the year under review. 43
Commissioners, occurring after the end of the reporting year up to the deadline for submission of the Annual
2. Access to Issuer or Public Company, including branch office(s) or representative office(s), where public can Report, then the Annual Report discloses the last and the previous composition of the Board of
have access to information of the Issuer or Public Company, which include: address, telephone number, Commissioners and/or the Board of Directors.
e-mail address and website address.
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OJK Requirements
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12. Employee statistics by gender, position, age, education level, type of employment within the reporting year. (d) Revenue/sales, expenses, profit (loss), other comprehensive income, and total comprehensive
92-93
Information disclosure can be presented in tabular form profit (loss), and 21-22
13. Names of shareholders and the percentage of ownership at the beginning and at the end of the reporting (e) Cash flows.
year, including information on:
3. The capacity to pay debts by providing the relevant ratios.
(a) Shareholders having 5% or more shares of Issuer or Public Company
4. Account receivables collectability of the Issuer or Public Company by providing the relevant ratios.
(b) Members of the Board of Directors and Board of Commissioners who own shares of the Issuers or
5. Capital structure and \ management policies concerning capital structure, including the basis for the policy.
Public Company
6. Discussion on material ties for capital goods investments, along with including information on at least:
(c) Groups of public shareholders (each with less than 5% share ownership).
(a) The purpose of such ties
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. (b) Source of funds to fulfil such ties
42
15. Number of shareholders and percentage of share ownership based on: (c) Currency of denomination
(a) Ownership by local institutions (d) Measures taken by the Issuer or Public Company to protect the position of a related foreign currency 23
against risk.
(b) Ownership by foreign institutions
7. Discussion on investment in capital goods realised in the last fiscal year, at least covers:
(c) Ownership by local individuals
(a) Type of capital goods investment
(d) Ownership by foreign individuals.
(b) The objective of capital goods investment
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. (c) Value of the investment of capital goods.
17. Names of subsidiaries, associated companies, joint ventures controlled by the Issuer or Public Company (if 8. Material information and facts occurring after the date of the accountant’s report (if any).
any), with information on the percentage of stock ownership, line of business, total assets and operating 114 9. Information on the prospect of the Issuer or Public Company in connection with the condition of the industry,
status of these entities. For subsidiaries, disclose the addresses of all subsidiaries. economy in general and the international market, supported with quantitative data from reliable sources.
18. Chronology of share listing, number of shares, nominal value, and offering price from the beginning of the 10. Comparison between the targets/projection at the beginning of the financial year and the results
listing up to the end of the reporting year, and the name of the Stock Exchange where the Issuer of Public 42 achieved, concerning:
Company shares are listed.
(a) Revenue/sales
19. Information on securities listing other than the said security in point 18), containing at least the name of the
44-45 (b) Profit (loss)
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: (c) Capital structure
(a) Name and address (d) Other matters considered material for the Issuer or Public Company.
(b) Assignment period 11. Targets/projections for the next one year concerning:
11, 27
(c) Information on audit and/or non-audit assignments (a) Revenue/sales
(d) Audit and/or non-audit service fees for each reporting year (b) Profit (loss)
43 (c) Capital structure
(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. (d) Dividend policy
f. Management Discussion and Analysis (e) Other matters considered material for the Issuer or Public Company.
The management discussion and analysis section contains analysis and discussion on the financial statements 12. Marketing aspects of the products and/or services of the Issuer or Public Company, at least concerning the
and other material information with emphasis on material changes that occurred during the financial year, at marketing strategy and market share.
least including:
13. Description regarding dividends during the last 2 fiscal years (if any), including at least:
1. Operational review per segment of operations according to the type of industry of the Issuer or Public
(a) Dividend policy
Company, containing at least:
(b) Date of cash dividend payment and/or date of non-cash dividend distribution;
(a) Production, including process, capacity, and growth 20
(c) Amount of dividend per share (cash and/or non-cash)
(b) Sales/revenue
(d) Total dividend distributed per year.
(c) Profitability. 23
14. Realisation of the use of proceeds from Public Offerings, under the condition of:
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 (a) During the reporting year, on which the Issuer has the obligation to report the realisation of the use of
least covering: proceeds, then the realisation of the cumulative use of proceeds until the year end should be disclosed
(a) Current assets, non-current assets, and total assets 21-22 (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
(b) Short-term liabilities, long-term liabilities and total liabilities
should provide an explanation on such change.
(c) Equities
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OJK Requirements
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15. Material information (if any), among others concerning investment, expansion, divestment, merger, (e) Assessment on the performance of the committees that assist the execution of the duties of the
acquisition, debt/capital restructuring, transactions with related parties and transactions with conflict of Board of Directors during the reporting year, at least covering:
interest that occurred in the reporting year, covering:
(1) Performance evaluation procedure
(a) Date, value, and object of the transaction 51-52
(2) Criteria used
(b) Names of transacting parties (f) In the event that the Issuer or Public Company does not establish any committee to support the
(c) Nature of the affiliation (if any) Board of Directors in performing their duties, then this matter is to be disclosed.
(d) Description of the fairness of the transaction 3. The Board of Commissioners, at least covering:
(e) Compliance with related regulations (a) Duties and responsibilities of the Board of Commissioners
(f) In the event that there is an affiliation relationship, the Issuer or Public Company also discloses (b) Statement that the Board of Commissioners has a board charter
information: (c) Policies and frequency of the Board of Commissioners meetings, including meetings with the Board
(1) Statement of the Board of Directors that affiliated transactions have gone through adequate of Directors and attendance records of members of the Board of Commissioners in these meetings,
procedures to ensure that transactions are carried out in accordance with generally accepted business including attendance in GMS
practices, among others carried out by complying with the arms-length principles (d) Training and/or Board of Commissioners’ competence development:
(2) The roles of the Board of Commissioners and Audit Committee to ensure that transactions are carried 23
(1) Training and/or competence development policies for members of the Board of Commissioners,
out in accordance with generally accepted business practices, among others carried out by complying including orientation programmes for newly appointed members of the Board of Commissioners
with the arms-length principles.
(2) Training and/or competence development activities attended by members of the Board of
(g) For affiliated transactions or material transactions which are business activities carried out in order to Commissioners during the reporting year
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 (e) Assessment on the performance of the Board of Directors and Board of Commissioners, and each
generate business income and are carried out regularly, repeatedly and/or continuously. member of the Board of Directors and Board of Commissioners, at least covering:
(h) For the disclosure of affiliated transactions and/or transactions with conflict of interest resulting from the (1) Performance evaluation implementation procedure
implementation of affiliated transactions and/or conflict of interest transactions that have been approved (2) Criteria used
by independent shareholders, information is added regarding the date of the GMS that approved the
(3) The party conducting the assessment
affiliated transactions and/or conflict of interest transactions.
(f) Assessment on the performance of the committees that assist the execution of the duties of the
(i) In the event that there is no affiliated transaction and/or conflict of interest transaction, it is disclosed;
Board of Commissioners during the reporting year, at least covering:
16. Changes in regulations that have a significant effect on the Issuer or Public Company and impacts on the 49-50
(1) Performance evaluation procedure
financial statements (if any).
(2) Criteria used.
17. Changes in the accounting policy, rationale and impact on the financial statement (if any).
4. The nomination and remuneration of the Board of Directors and the Board of Commissioners shall at least cover:
g. Corporate Governance
The corporate governance of the Issuer or Public Company at least contains descriptions on: (a) The nomination procedure
1. The GMS, contains at least: (b) Procedure and implementation of the Board of Directors and Board of Commissioners remuneration,
among others:
(a) Information regarding the resolutions of the GMS in the reporting year and one year prior to the reporting
year, covering: (1) Procedures to determine the remuneration of the Board of Directors and Board of Commissioners
(1) Resolutions of the GMS in the reporting year and one year prior the reporting year that were realised 49 (2) The structure of the Board of Directors’ and Board of Commissioners’ remuneration
during the reporting year
(3) Total remuneration of each member of the Board of Directors and Board of Commissioners.
(2) Resolutions of the GMS in the reporting year and one year prior the reporting year that have not been
5. Sharia Supervisory Board, for Issuers or Public Companies that conduct business based on the sharia
realised and the reasons
principles, as stipulated in the articles of association, at least containing disclosing:
(b) In the event that the Issuer or Public Company is assisted by an independent party in the implementation
(a) Name
of the GMS to carry out the vote counting, then this matter is to be disclosed.
(b) Legal basis for the appointment of the Sharia Supervisory Board
2. The Board of Directors, at least covering:
(c) The term of office of the Sharia Supervisory Board
(a) Duties and responsibilities of each member of the Board of Directors
(d) Duties and responsibilities of the Sharia Supervisory Board
(b) Statement that the Board of Directors has a board charter
(e) Frequency and mechanism for providing advice and recommendations, as well as the supervision on
(c) Policies and frequency of the Board of Directors meetings, including meetings with the Board of
the Issuer’s or Public Company’s fulfilment of the sharia principles in the capital market.
Commissioners and attendance records of members of the Board of Directors in these meetings
51-52 6. Audit Committee, covering at least:
(d) Training and/or Board of Directors’ competence development:
(a) Name and position in the Committee
(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 (b) Age 53-54
(2) Training and/or competence development activities attended by members of the Board of Directors (c) Citizenship
during the reporting year (d) Education background
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(e) Employment history, including: (h) Training and/or competence development attended in the reporting year
(1) Legal basis for the appointment as member of the Committee (i) Duties and responsibilities
(2) Concurrent positions, either as a member of Board of Commissioners, a member of Board of (j) A statement that the Committee has a Committee charter 56
Directors, and/or a member of committees and other positions (if any)
(k) Policies and frequency of Committee meetings and members’ attendance record in these meetings
(3) Working experience and terms of office in and outside of the Issuer or Public Company
(l) Activities of the Committee in the reporting year
(f) Period and terms of office as member of the Audit Committee 53-54
9. Corporate Secretary, covering at least:
(g) Statement of independence of the Audit Committee
(a) Name
(h) Training and/or competence development attended in the reporting year
(b) Domicile
(i) Policies and frequency of the Audit Committee meetings and the attendance record of members of the
(c) Employment history, including:
Audit Committee in these meetings
(1) Legal basis for the appointment as Corporate Secretary 57
(j) Audit Committee’s activities in the reporting year as stipulated in the Audit Committee charter
(2) Working experience and terms of office within and outside of the Issuer or Public Company
7. Nomination and Remuneration Committee or function, covering at least:
(d) Education background
(a) Name and position in the Committee/function
(e) Training and/or competence development attended in the reporting year
(b) Age
(f) Implementation of duties of the Corporate Secretary in the reporting year
(c) Citizenship
10. Internal Audit unit, covering at least:
(d) Education background
(a) Name
(e) Employment history, including:
(b) Employment history, including:
(1) Legal basis for the appointment as member of the Committee/function
(1) Legal basis for the appointment as Head of the Internal Audit unit
(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) (2) Working experience and terms of office in and outside of the Issuer or Public Company
(3) 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
55
(f) Period and terms of office as a member of the Committee/function (d) Training and/or competence development attended in the reporting year
(g) Statement of independence of the Committee/function (e) Structure and position of the Internal Audit Unit
(h) Training and/or competence development attended in the reporting year (f) Duties and responsibilities
(i) Duties and responsibilities (g) A statement that the Internal Audit unit has a charter
(j) A statement that the Committee/function has a Committee charter (h) Implementation of duties of the Internal Audit unit in the reporting year
(k) Policies and frequency of meetings and members’ attendance record in these meetings 11. Description on the internal control system implemented, covering at least:
(l) Activities in the reporting year (a) Financial and operational control, and compliance with other prevailing regulations
(m) In the event that the Nomination and Remuneration Committee is not formed, disclose: (b) Review on the effectiveness of the internal control system 63
(1) Reasons for not forming the Committee (c) Statement of the Board of Directors and/or Board of Commissioners on the adequacy of the internal
control system
(2) Parties executing the nomination and remuneration function.
12. Risk management system implemented covering at least:
8. Other Committees to support the function and duties of the Board of Directors and/or the Board of
Commissioners, covering at least: (a) Overview of the risk management system
(a) Name and position in the Committee (b) Types of risk and risk mitigation measures
60-62
(b) Age (c) Review on the effectiveness of the risk management system applied by the Issuer or Public Company
(c) Citizenship (d) Statement of the Board of Directors and/or Board of Commissioners or Audit Committee on the adequacy
(d) Education background of the risk management system.
13. Legal cases with material impact faced by the Issuer or Public Company, its subsidiaries members of the
(e) Employment history, including: 56
Board of Directors and Board of Commissioners (if any), covering at least:
(1) Legal basis for the appointment as member of the Committee
(a) Substance of the case/claim
(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) (b) Case/claim status
65
(3) Working experience and terms of office in and outside of the Issuer or Public Company (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
(f) Period and terms of office as a member of the Committee
Directors and the Board of Commissioners, by the Capital Market Authority or other authorities during the
(g) Statement of Independence of the Committee reporting year (if any)
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Cross Reference to
OJK Requirements
SEOJK No. 16/SEOJK.04/2021 Page SEOJK No. 16/SEOJK.04/2021 Page
15. Information on the company’s code of conduct, including: (f) Sustainability performance
(a) Key points of the code of conduct (g) Written verification from independent parties, if any;
(b) Socialisation and enforcement of the code of conduct (h) Feedback sheet for readers, if any; and
(c) Statement that the code of conduct applies to members of the Board of Directors, the Board of (i) Issuer's or Public Company's response to previous year's report feedback
Commissioners, and employees of the Issuer or Public Company
2. The Sustainability Report presented separately from the Annual Report is to be submitted together with the
16. Description of the long-term performance-based compensation policy for management and/or employees, submission of the Annual Report
including the management stock ownership programme (MSOP) and/or the employee stock ownership
3. The Sustainability Report information in point 1) may:
programme (ESOP).
The information disclosed at least contains: (a) Disclosed in other relevant sections outside the social and environmental responsibility section, such as
64-65 the explanation of the Board of Directors regarding the Sustainability Report disclosed in the relevant
(a) Number of shares and/or options
section of the Board of Directors’ Report; and/or
(b) Implementation period
(b) Refer to other sections outside the social and environmental responsibility section while still referring to
(c) Requirements for eligible employee and/or management 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
(d) Exercise price or determination of exercise price. the discussion of
such as the profile of the Issuer or Public Company;
17. Description of the information disclosure policy regarding: 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
(a) Share ownership of members of the Board of Directors and members of the Board of Commissioners no presented separately with the Annual Report; pages 66 to 111
later than three working days after the occurrence of ownership or any change in the ownership of the
5. In the event that the Sustainability Report is presented separately from the Annual Report, the information
Public Company’s shares
disclosed in the Sustainability Report must:
(b) Implementation of the policy.
(a) Contain all information as referred to in point 1); and
18. Description of the whistleblowing system, covering at least:
(b) Be prepared in accordance with the Technical Guidelines for the Preparation of Sustainability Report for
(a) Violation reporting mechanism Issuers and Public Companies as set out in Appendix II which is an integral part of this Circular Letter of
(b) Whistleblower protection the Financial Services Authority;
(c) Report handling 6. In terms of the Sustainability Report presented separately from the Annual Report, the social and environmental
63-64 responsibility section shall contain information that information on social and environmental responsibility
(d) The unit was responsible for report handling has been disclosed in the Sustainability Report presented separately from the Annual Report; and
(e) Results of the report handling, covering at least
(1) Number of complaints received and processed during the reporting year 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.
(2) Follow up of complaints.
i. Audited Annual Financial Statement
19. Description of the anti-corruption policy, covering at least:
The financial statements included in the Annual Report are prepared in accordance with the Financial Accounting
(a) Programmes and procedures implemented to address corrupt practices, kickbacks, bribery and/or Standards in Indonesia and audited by a public accountant registered with the Financial Services Authority. The
gratification 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
(b) Employee anti-corruption training/socialisation
the capital market sector that govern periodic reports of securities companies in the event that the Issuer is a
20. Implementation of the corporate governance guidelines for public companies for Issuers issuing equity based 64-65 securities company.
securities, covering:
j. Letter of statement of Members of the Board of Directors and Board of Commissioners regarding the
(a) Statement regarding the recommendations that have been implemented and/or responsibility for the Annual Report.
(b) Description of recommendations that have not been implemented, along with the reasons and alternative The statement letter of members of the Board of Directors and members of the Board of Commissioners
measures (if any). 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
h. Corporate Social and Environmental Responsibility the Annual Report as set out in the Appendix which is an integral part of this Circular Letter of the Financial
1. In the event that the Sustainability Report is presented separately from the Annual Report, then the social and Services Authority.
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
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POJK 51
Reference Index [OJK G.4]
No. Index Name Index Page No. Index Name Index Page
Sustainability Strategy Emission Aspect
A.1 Explanation on Sustainability Strategies 74-77 F.11 The Amount and Intensity of Emissions Produced by Type 88
Overview of Sustainability Aspects Performance 78-79, 85-110 F.12 Efforts and Achievement Emission Reduction Carried Out 88
B.1 Economy Aspects 85 Waste and Effluent Aspect
B.2 Environmental Aspects 78-79, 86-91 F.13 The Amount of Waste and Effluent Produced by Type 89
B.3 Social Aspects 92-110 F.14 Mechanism of Waste and Effluent Management 89
Company Profile F.15 Spills that Occur (if any) 89
C.1 Vision Mission, Sustainable Values 35 Environmental Complaint Aspect
C.2 Company Address 43 F.16 The Amount and Material of Environmental Complaints Received and Resolved 91
C.3 Business Scale: Social Aspect
a. Total assets or assets capitalisation and total liabilities;
21, 28-29, F.17 Commitment to Provide Services for Equivalent Products and/or Services to Consumers 85
b. Total employee based on gender, position, age, education and employment status;
42-43, 92-93
c. Percentage of share ownership; and Employment Aspect
d. Operational area. F.18 Equality of Employment Opportunities 93
C.4 Product, Service and Business Activities 26-27 F.19 Child Labor and Forced Labour 93
C.5 Member Association 43 F.20 The Regional Minimum Wage 94
C.6 Significant Changes None F.21 Decent and Safe Working Environment 99
Director Explanation F.22 Training and Capacity Building of Employees 98
D.1 Director Explanation 10-11 Society Aspect
Sustainable Corporate Governance F.23 Operational Impacts to the Surrounding Community 81-82
E.1 Person in Charge Responsibility for Sustainable Finance 80 F.24 Public Complaints 107
E.2 Sustainable Finance Competency Development 81,97 F.25 Environmental and Social Responsibility Activities 107-110
E.3 Sustainable Finance Risk Assessment Implementation 81-82 Responsibilities for Developing Sustainable Products/Services
E.4 Stakeholders Relations 83 F.26 Innovation and Development of Sustainable Financial Products and/or Services 86
E.5 Sustainable Finance Implementation Problems 84 F.27 Products/Services that have been Evaluated for Safety for Customers 106
Sustainable Performance F.28 Products/Service Impacts 106
F.1 The Activities of Building a Culture of Sustainability 35 F.29 Number of Products Recalled 106
Economic Performance F.30 Customer Satisfaction Survey of Sustainable Finance and/or Services None
F.2 Comparison of Production Targets and Performance, Portfolio, Financial Targets, or Investment, Lain-lain
85
Revenue and Profit
G.1 Written Verification from an Independent Party (if any) 68
F.3 Comparison of Portfolio Targets and Performance, Financing Targets, or Investments in Financial
85 G.2 Feedback Form None
Instruments or Projects in Line With the Implementation of Sustainable Finance
Environmental Performance G.3 Feedback on Previous Year’s Sustainability Report 68
F.4 Environment Cost Incurred 87 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
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
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GRI Index
Statement of use PT Medco Power Indonesia has reported the information cited in this GRI content index for the period January GRI Standard Disclosure Page
1st-December 31st 2025 with reference to the GRI Standards.
Environment
GRI 1 used GRI 1: Foundation 2021
GRI 3 3-3 Management of Material Topics 86
GRI 302 302-1 Energy Consumption Within the Organization 87-88
GRI Standard Disclosure Page Energy
302-3 Energy Intensity 87-88
GRI 2 2-1 Organization Details 2-3, 43
GRI 3 3-3 Management of Material Topics 86
2-2 Entities Included in the Consolidated Financial Statement 68 GRI 303 303-1 Interactions With Water As A Shared Resource 90
2-3 Reporting Period, Frequency and Contact Point 68 Water and
303-3 Water Withdrawal 90
Effluents
2-4 Restatement of Information 68
GRI 3 3-3 Management of Material Topics 86
2-5 External Assurance 68
GRI 304 304-1 Operational Sites Owned, Leased, Managed In, or Adjacent to, Protected Areas and Areas of 91
2-6 Activities, Value Chain and Other Business Relationships 26-27, 43
Biodiversity High Biodiversity Value Outside Protected Areas
2-7 Employees 92-93
304-2 Significant Impacts of Activities, Products, and Services on Biodiversity 91
2-8 Workers Who Are Not Employees 92-93
GRI 3 3-3 Management of Material Topics 86
2-9 Governance Structure and Composition 48
GRI 305 305-1 Direct GHG Emissions (Scope1) 88
2-12 Role of the Highest Governance Body in Overseeing the Management of Impacts 80-81 Emission
305-2 Energy Indirect (Scope 2) GHG Emmisions 88
2-13 Delegation of Responsibility for Managing Impacts 80-81
305-3 Other Indirect (Scope 3) GHG Emmisions 88
2-14 Role of the Highest Governance Body in Sustainability Reporting 80-81
305-4 GHG Emissions Intensity 88
2-16 Communication of Critical Concern 63
305-7 Nitrogen Oxides (NOX), Sulfur Oxides (SOX), and Other Significant Air Emissions 88
2-17 Collective Knowledge of the Highest Governance Body 81
GRI 3 3-3 Management of Material Topics 86
2-18 Evaluation of the Performance of the Highest Governance Body 52
GRI 306 306-2 Management of Significant Waste-related Impacts 88
2-22 Statement on Sustainable Development Strategy 12 Waste
2-23 Policy Commitments 74 Social
2-24 Embedding Policy Commitments 74 GRI 3 3-3 Management of Material Topics 92
2-25 Processes to Remediate Negative Impacts 81 GRI 401 401-1 New Employee Hires and Employee Turnover 96
2-26 Mechanism for Seeking Advice and Raising Concern 63 Employment
401-2 Benefits Provided to Full-time Employees That Are Not Provided to Temporary or 94
2016
2-28 Membership Associations 43 Part-Time Employees
2-29 Approach to Stakeholder Engagement 83 GRI 3 3-3 Management of Material Topics 102
2-30 Collective Bargaining Agreements 94 GRI 403 403-1 Occupational Health and Safety Management System 102
Occupational
GRI 3 3-1 Process to Determine Material Topics 69 403-2 Hazard Identification, Risk Assessment, and Incident Investigation 103
Health and
3-2 List of Material Topics 69 Safety 403-3 Occupational Health Services 104
Economic 403-4 Worker Participation, Consultation, and Communication on Occupational Health and Safety 104
GRI 3 3-3 Management of Material Topics 85 403-5 Worker Training On Occupational Health and Safety 104
GRI 201 201-1 Direct Economic Value Generated and Distributed 85 403-6 Promotion of Worker Health 104
Economic 403-8 Workers Covered by an Occupational Health and Safety Management System 102
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 94 403-9 Work-related Injuries 106
201-4 Financial Assistance Received From Government 85 403-10 Work-related Ill Health 103
GRI 3 3-3 Management of Material Topics 70 GRI 3 3-3 Management of Material Topics 92
GRI 204 204-1 Proportion of Spending on Local Suppliers 84 GRI 404 404-1 Average Hours of Training Per Year Per Employee 98
Procurement Training &
404-2 Programmes for Upgrading Employee Skills and Transition Assistance Programmes 99
Practices 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
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Feedback
Form
Please tick the Box for the stakeholder group that best describes you:
PT Medco Power Indonesia
Employee Regulator Others: ___________________
dan Entitas Anaknya/ and its Subsidiaries
Contractor/Sub-contractor/Vendor/Supplier NGO
Customer Media Laporan keuangan konsolidasian tanggal 31 Desember 2025
Investor / Financial Analyst / Shareholders Student / Academics dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen/
Please rate the report for:
Consolidated financial statements as of December 31, 2025
(1 being POOR up to 5 being EXCELLENT)
and for the year then ended
Parameter 1 2 3 4 5
with independent auditor's report
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.medcoenergi.co.id
Thank You
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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
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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
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The original report included herein is in the Indonesian The original report included herein is in the Indonesian
language. language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued) 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- 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) 2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Basis opini Basis for opinion Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Kami melaksanakan audit kami berdasarkan We conducted our audit in accordance with Kami telah memenuhi tanggung jawab yang We have fulfilled the responsibilities described in
Standar Audit yang ditetapkan oleh Institut Standards on Auditing established by the diuraikan dalam paragraf Tanggung Jawab the Auditor’s Responsibilities for the Audit of the
Akuntan Publik Indonesia (“ IAPI” ). Tanggung Indonesian Institute of Certified Public Accountants Auditor terhadap Audit atas Laporan Keuangan Consolidated Financial Statements paragraph of
jawab kami menurut standar tersebut (“ IICPA” ). Our responsibilities under those Konsolidasian pada laporan kami, termasuk our report, including in relation to the key audit
diuraikan lebih lanjut dalam paragraf Tanggung standards are further described in the Auditor’s sehubungan dengan hal-hal audit utama yang matter communicated below. Accordingly, our
Jawab Auditor terhadap Audit atas Laporan Responsibilit ies for the Audit of the Consolidated dikomunikasikan di bawah ini. Oleh karena itu, audit included the performance of procedures
Keuangan Konsolidasian pada laporan kami. Financial St atements paragraph of our report. audit kami mencakup pelaksanaan prosedur yang designed to respond to our assessment of the risks
Kami independen terhadap Grup berdasarkan We are independent of the Group in accordance didesain untuk merespons penilaian kami atas of material misst atement of the accompanying
ketentuan etika yang relevan dalam audit kami with the ethical requirements relevant to our risiko kesalahan penyajian material dalam laporan consolidated financial statements. The results of
atas laporan keuangan konsolidasian di Indonesia, audit of the consolidated financial statements keuangan konsolidasian terlampir. Hasil prosedur our audit procedures, including the procedures
dan kami telah memenuhi tanggung jawab etika in Indonesia, and we have fulfilled our other audit kami, termasuk prosedur yang dilakukan performed to address the key audit matter
lainnya berdasarkan ketentuan tersebut. Kami ethical responsibilities in accordance with such untuk merespons hal audit utama di bawah ini, below, provide the basis for our opinion on the
yakin bahwa bukti audit yang telah kami peroleh requirements. We believe that the audit evidence menyediakan basis bagi opini kami atas laporan accompanying consolidated financial statements.
adalah cukup dan tepat untuk menyediakan suatu we have obt ained is sufficient and appropriate to keuangan konsolidasian terlampir.
basis bagi opini kami. provide a basis for our opinion.
Evaluasi Penurunan Nilai Investasi pada Entitas Evaluation of Impairment of Investment in an
Hal audit ut ama Key audit mat t ers Asosiasi Associate
Hal audit utama adalah hal-hal yang, menurut Key audit matters are those matters that, in our Penjelasan atas hal audit utama: Description of the key audit matter:
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 Sebagaimana diungkapkan dalam Catatan 15 atas As disclosed in Note 15 to the accompanying
laporan keuangan konsolidasian periode kini. Hal of t he current period. Such key audit mat t ers were laporan keuangan konsolidasian terlampir, Grup consolidated financial statements, the Group has
audit utama tersebut disampaikan dalam konteks addressed in the context of our audit of the memiliki investasi pada entitas asosiasi, investment in an associate, PT Medco Geopower
audit kami atas laporan keuangan konsolidasian consolidated financial statements taken as a whole, PT Medco Geopower Sarulla, dengan nilai tercatat Sarulla, with a carrying value of Rp2.48 trillion as
secara keseluruhan, dan dalam merumuskan opini and in forming our opinion thereon, and we do not sebesar Rp2,48 triliun pada tanggal 31 Desember of December 31, 2025. The evaluat ion of
kami atas laporan keuangan konsolidasian terkait, provide a separate opinion on such key audit 2025. Evaluasi atas penurunan nilai investasi impairment of invest ment in such associate is a key
dan kami tidak menyatakan suatu opini terpisah matters. For the key audit matter below, our pada entitas asosiasi tersebut merupakan hal audit matter for us because such evaluation
atas hal audit utama tersebut. Untuk hal audit description of how our audit addressed such key audit utama bagi kami karena evaluasi tersebut requires the exercise of significant management
utama di bawah ini, penjelasan kami tentang audit matter is provided in such context. memerlukan pertimbangan dan estimasi judgment and estimates in determining the
bagaimana audit kami merespons hal tersebut manajemen yang signifikan dalam menentukan recoverable amount which includes the use of
disampaikan dalam konteks tersebut. 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.
ii iii
A member firm of Ernst & Young Global Limited A member firm of Ernst & Young Global Limited
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The original report included herein is in the Indonesian The original report included herein is in the Indonesian
language. language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued) 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- 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) 2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued) Informasi lain (lanjut an) Ot her informat ion (cont inued)
Evaluasi Penurunan Nilai Investasi pada Entitas Evaluation of Impairment on Investment in an Sehubungan dengan audit kami atas laporan In connection with our audit of the accompanying
Asosiasi (lanjutan) Associate (continued) keuangan konsolidasian terlampir, tanggung consolidated financial statements, our
jawab kami adalah untuk membaca responsibilit y is to read the Annual Report when it
Respons audit: Audit response: Laporan Tahunan ketika tersedia dan, becomes available and, in doing so, consider
dalam melaksanakannya, mempertimbangkan whether the Annual Report is materially
Kami memeroleh dan melakukan penilaian We obtained and assessed the impairment apakah Laporan Tahunan mengandung inconsistent with the accompanying consolidated
indikator penurunan nilai yang dilakukan oleh indicators assessment performed by the ketidakkonsistensian material dengan laporan financial statements or our knowledge obtained in
manajemen. Kami mengevaluasi asumsi utama management. We evaluated key assumptions used keuangan konsolidasian terlampir atau the audit, or otherwise appears to be materially
yang digunakan oleh manajemen dalam by the management in the determination of pemahaman yang kami peroleh selama audit, misstated.
penentuan jumlah terpulihkan. Asumsi utama recoverable amount. The key assumptions include atau mengandung kesalahan penyajian material.
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 Ketika kami membaca Laporan Tahunan, jika When we read the Annual Report, if we conclude
dengan tarif yang tercant um dalam perjanjian jual tariff stated in the power purchase agreement. kami menyimpulkan bahwa terdapat suatu that there is a material misstatement therein, we
beli listrik. Kami membandingkan asumsi biaya We compared operating costs assumptions against kesalahan penyajian material di dalamnya, kami are required to communicate the matter to those
operasi dengan kinerja aktual historis dengan the historical actual performance taking into diharuskan untuk mengomunikasikan hal charged with governance and take appropriate
mempertimbangkan proyeksi inflasi. Kami account the projected inflation. We involved our tersebut kepada pihak yang bertanggung jawab actions based on the applicable laws and
melibatkan pakar spesialis auditor kami untuk auditor’s expert to test the assumptions used in the atas tata kelola dan melakukan tindakan yang regulations.
menguji asumsi yang digunakan dalam penentuan determination of the discount rate against market tepat berdasarkan peraturan perundang-
tingkat diskonto terhadap data pasar. Kami juga data. We also assessed the appropriateness and undangan yang berlaku.
menilai ketepatan dan kecukupan pengungkapan adequacy of the disclosures in Note 15 to the
dalam Catatan 15 atas laporan keuangan consolidated financial statements. Tanggung jawab manajemen dan pihak yang Responsibilit ies of management and t hose
konsolidasian. 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
Informasi lain Ot her informat ion
Manajemen bertanggung jawab atas penyusunan Management is responsible for the preparation and
Manajemen bertanggung jawab atas informasi Management is responsible for t he ot her dan penyajian wajar laporan keuangan fair presentation of the consolidated financial
lain. Informasi lain terdiri dari informasi yang information. Other information comprises the konsolidasian tersebut sesuai dengan Standar statements in accordance with Indonesian Financial
tercantum dalam Laporan Tahunan 2025 information included in the 2025 Annual Akuntansi Keuangan di Indonesia, dan atas Accounting Standards, and for such internal
(“ Laporan Tahunan” ) selain laporan keuangan Report (“ The Annual Report” ) other than the pengendalian internal yang dianggap perlu oleh cont rol as management det ermines is necessary
konsolidasian terlampir dan laporan auditor accompanying consolidated financial statements manajemen untuk memungkinkan penyusunan to enable the preparation of consolidated
independen kami. Laporan Tahunan diharapkan and our independent auditor’s report thereon. The laporan keuangan konsolidasian yang bebas dari financial statement s that are free from material
akan tersedia bagi kami setelah tanggal laporan Annual Report is expected to be made available to kesalahan penyajian material, baik yang misstatement, whether due to fraud or error.
auditor independen ini. us after the date of this independent auditor’s disebabkan oleh kecurangan maupun kesalahan.
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 v
A member firm of Ernst & Young Global Limited A member firm of Ernst & Young Global Limited
Page 73
2025 Management Business Company Corporate Sustainability
142 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 143
The original report included herein is in the Indonesian The original report included herein is in the Indonesian
language. language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued) 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- 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) 2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued)
Tanggung jawab manajemen dan pihak yang Responsibilit ies of management and t hose Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
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) consolidat ed financial st at ement s (cont inued)
laporan keuangan konsolidasian (lanjut an) financial st at ement s (cont inued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Dalam penyusunan laporan keuangan In preparing the consolidated financial statements, Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
konsolidasian, manajemen bertanggung jawab management is responsible for assessing the menerapkan pertimbangan profesional dan professional judgment and maintain professional
untuk menilai kemampuan Grup dalam Group’s ability to continue as a going concern, mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
mempertahankan kelangsungan usahanya, disclosing, as applicable, matters related to going audit. Kami juga:
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 Mengidentifikasi dan menilai risiko kesalahan Ident ify and assess the risks of material
dan menggunakan basis akuntansi kelangsungan liquidate the Group or to cease its operations, or penyajian material dalam laporan keuangan misstatement of the consolidated financial
usaha, kecuali manajemen memiliki intensi untuk has no realistic alternative but to do so. konsolidasian, baik yang disebabkan oleh statements, whether due to fraud or error,
melikuidasi Grup atau menghentikan operasi, atau kecurangan maupun kesalahan, mendesain design and perform audit procedures
tidak memiliki alternatif yang realistis selain dan melaksanakan prosedur audit yang responsive to such risks, and obtain audit
melaksanakannya. 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
Pihak yang bertanggung jawab atas tata kelola Those charged with governance are responsible for untuk menyediakan basis bagi opini kami. detecting a material misstatement resulting
bertanggung jawab untuk mengawasi proses overseeing the Group’s financial reporting process. Risiko tidak terdeteksinya suatu kesalahan from fraud is higher than for one resulting from
pelaporan keuangan Grup. penyajian material yang disebabkan oleh error, as fraud may involve collusion, forgery,
kecurangan lebih tinggi dari yang disebabkan intentional omissions, misrepresentations, or
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he oleh kesalahan, karena kecurangan dapat override of internal control.
laporan keuangan konsolidasian consolidat ed financial st at ement s melibatkan kolusi, pemalsuan, penghilangan
secara sengaja, pernyataan salah, atau
Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obt ain reasonable assurance pengabaian atas pengendalian internal.
memadai tentang apakah laporan keuangan about whether the consolidated financial
konsolidasian secara keseluruhan bebas dari statements taken as a whole are free from material Memeroleh suatu pemahaman tentang Obtain an understanding of internal control
kesalahan penyajian material, baik yang misstatement, whether due to fraud or error, and pengendalian internal yang relevan dengan relevant to the audit in order to design audit
disebabkan oleh kecurangan maupun kesalahan, to issue an independent auditor’s report that audit untuk mendesain prosedur audit yang procedures that are appropriate in the
dan untuk menerbitkan laporan auditor includes our opinion. Reasonable assurance is tepat sesuai dengan kondisinya, tetapi bukan circumstances, but not for the purpose of
independen yang mencakup opini kami. Keyakinan a high level of assurance, but is not a guarantee untuk tujuan menyatakan opini atas expressing an opinion on t he effect iveness of
memadai merupakan suatu tingkat keyakinan that an audit conducted in accordance with keefektivitasan pengendalian internal Grup. the Group’s internal control.
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 Mengevaluasi ketepatan kebijakan akuntansi Evaluate the appropriateness of accounting
Standar Audit yang ditet apkan oleh IAPI akan exists. Misstatement s can arise from fraud or error yang digunakan serta kewajaran estimasi policies used and the reasonableness of
selalu mendeteksi kesalahan penyajian material and are considered material if, individually or in the akuntansi dan pengungkapan terkait yang accounting estimates and related disclosures
ketika hal tersebut ada. Kesalahan penyajian aggregate, they could reasonably be expected to dibuat oleh manajemen. made by management.
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 vii
A member firm of Ernst & Young Global Limited A member firm of Ernst & Young Global Limited
Page 74
2025 Management Business Company Corporate Sustainability
144 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 145
The original report included herein is in the Indonesian The original report included herein is in the Indonesian
language. language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued) 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- 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) 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 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) 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 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 Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also: mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued) audit. Kami juga: (lanjutan) (continued)
Menyimpulkan ketepatan penggunaan basis Conclude on the appropriateness of Memeroleh bukti audit yang cukup dan tepat Obtain sufficient appropriate audit evidence
akuntansi kelangsungan usaha oleh management's use of the going concern basis terkait informasi keuangan entitas atau regarding the financial information of the
manajemen dan, berdasarkan bukti audit yang of accounting and, based on the audit evidence aktivitas bisnis dalam Grup untuk menyatakan entities or business activities within the Group
diperoleh, apakah terdapat suatu obtained, whether a material uncertainty exists opini atas laporan keuangan konsolidasian. to express an opinion on the consolidated
ketidakpastian material yang terkait dengan related to events or conditions that may cast Kami bertanggung jawab atas arahan, financial statements. We are responsible for
peristiwa atau kondisi yang dapat significant doubt on the Group's ability to supervisi, dan pelaksanaan audit grup. Kami the direction, supervision, and performance of
menyebabkan keraguan signifikan atas continue as a going concern. If we conclude tetap bertanggung jawab sepenuhnya atas the group audit. We remain solely responsible
kemampuan Grup untuk mempertahankan that a material uncertainty exists, we are opini audit kami. for our audit opinion.
kelangsungan usahanya. Ketika kami required to draw attention in our independent
menyimpulkan bahwa terdapat suatu auditor’s report to the related disclosures in Kami mengomunikasikan kepada pihak yang We communicate with those charged with
ketidakpastian material, kami diharuskan the consolidated financial statements or, if bertanggung jawab atas tata kelola mengenai, governance regarding, among other matters, the
untuk menarik perhatian dalam laporan such disclosures are inadequate, to modify our antara lain, ruang lingkup dan saat yang planned scope and timing of the audit and
auditor independen kami ke pengungkapan opinion. Our conclusion is based on the audit direncanakan atas audit serta temuan audit significant audit findings, including any significant
terkait dalam laporan keuangan konsolidasian evidence obtained up to the date of our signifikan, termasuk setiap defisiensi signifikan deficiencies in internal control that we identify
atau, jika pengungkapan tersebut tidak independent auditor’s report. However, future dalam pengendalian internal yang teridentifikasi during our audit.
memadai, memodifikasi opini kami. events or conditions may cause the Group to oleh kami selama audit.
Kesimpulan kami didasarkan pada bukti audit cease to continue as a going concern.
yang diperoleh hingga tanggal laporan auditor Kami juga memberikan suatu pernyataan kepada We also provide those charged with governance
independen kami. Namun, peristiwa atau pihak yang bertanggung jawab atas tata with a statement that we have complied
kondisi masa depan dapat menyebabkan Grup kelola bahwa kami telah mematuhi ketentuan with relevant ethical requirements regarding
tidak dapat mempertahankan kelangsungan etika yang relevan mengenai independensi, dan independence, and to communicate with them
usaha. 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
Mengevaluasi penyajian, struktur, dan isi Evaluate the overall presentation, structure, wajar berpengaruh terhadap independensi kami, independence, and where applicable, related
laporan keuangan konsolidasian secara and content of the consolidated financial dan, jika relevan, pengamanan terkait. safeguards.
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 ix
A member firm of Ernst & Young Global Limited A member firm of Ernst & Young Global Limited
Page 75
2025 Management Business Company Corporate Sustainability
146 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments 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,
The original report included herein is in the Indonesian
Unless Otherwise Stated)
language.
Catatan/
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued) 2025 Notes 2024
ASET ASSETS
Laporan No. 00449/ 2.1505/ AU.1/ 02/ 0696- Report No. 00449/ 2.1505/ AU.1/ 02/ 0696-
ASET LANCAR CURRENT ASSETS
2/ 1/ IV/ 2026 (lanjutan) 2/ 1/ IV/ 2026 (continued) 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
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he Pihak berelasi 21.029.512.028 8b 30.124.429.334 Related parties
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued) 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
Dari hal-hal yang dikomunikasikan kepada pihak From the matters communicated with those Piutang lain-lain 2 Other receivables
yang bertanggung jawab atas tata kelola, kami charged with governance, we determine those Pihak ketiga - neto 55.010.481.297 7 48.589.301.644 Third parties - net
menentukan hal-hal tersebut yang paling matters that were of most significance in the audit Pihak berelasi 80.517.341.154 8c 138.320.167.518 Related parties
signifikan dalam audit atas laporan keuangan of the consolidated financial statement s of the Persediaan 104.435.643.691 2,9 99.816.908.288 Inventories
Rekening bank dan deposito
konsolidasian periode kini dan oleh karenanya current period and are therefore the key audit berjangka yang dibatasi Restricted cash in banks and time
menjadi hal audit utama. Kami menguraikan hal matters. We describe such key audit matters in our penggunaannya 43.070.801.926 2,5 37.179.190.359 deposit
audit utama tersebut dalam laporan auditor independent auditor’s report unless laws or Pajak dibayar di muka 25.083.261.161 2,10 5.803.515.464 Prepaid taxes
Beban dibayar di muka dan uang
independen kami kecuali peraturan perundang- regulations preclude public disclosure about such muka 55.057.217.181 2,12 241.033.084.893 Prepaid expenses and advances
undangan melarang pengungkapan publik tentang key audit matters or when, in extremely rare Estimasi pengembalian pajak 32.069.746.547 2,23f 28.711.358.216 Estimated claim for tax refund
hal audit utama tersebut atau ketika, dalam circumstances, we determine that a key audit Aset derivatif 22.915.639.251 2,27 30.282.826.190 Derivative assets
kondisi yang sangat jarang terjadi, kami matter should not be communicated in our Aset keuangan konsesi 572.673.098.050 2,13 539.544.723.798 Concession financial assets
menentukan bahwa suatu hal audit utama tidak independent auditor’s report because the adverse Aset lancar lainnya 8.906.921.299 20 19.433.654.598 Other current assets
boleh dikomunikasikan dalam laporan auditor consequences of doing so would reasonably be TOTAL ASET LANCAR 4.148.548.385.469 3.668.149.269.748 TOTAL CURRENT ASSETS
independen kami karena konsekuensi yang expected to outweigh the public interest benefits of
merugikan dari mengomunikasikan hal tersebut such communication. ASET TIDAK LANCAR NON-CURRENT ASSETS
akan diekspektasikan secara wajar melebihi
Aset keuangan konsesi - Concession financial assets - net
manfaat kepentingan publik atas komunikasi neto porsi jangka pendek 9.317.867.477.124 2,13 8.846.237.824.779 of current portion
tersebut. 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
KAP Purwant o Susant i dan Surja 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
Indrajuwana Komala Widjaja
Advances for purchase of property,
Registrasi Akuntan Publik No. AP.0696/ Public Accountant Registration No. AP. 0696 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
1 April 2026/ April 1, 2026 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
x 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.
A member firm of Ernst & Young Global Limited
1
Page 76
2025 Management Business Company Corporate Sustainability
148 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 149
The original consolidated financial statements included herein The original consolidated financial statements included herein
are in the Indonesian language are in the Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL
(lanjutan) POSITION (continued) (lanjutan) POSITION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Rupiah, (Expressed in Rupiah, (Disajikan dalam Rupiah, (Expressed in Rupiah,
Kecuali Dinyatakan Lain) Unless Otherwise Stated) Kecuali Dinyatakan Lain) Unless Otherwise Stated)
Catatan/ Catatan/
2025 Notes 2024 2025 Notes 2024
LIABILITAS LIABILITIES EKUITAS EQUITY
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Modal saham - nilai nominal Capital stock - Rp 1,000 par value
Utang bank jangka pendek 50.000.000.000 2,25 883.929.780.230 Short-term bank loan Rp1.000 per saham per share
Utang usaha 138.916.864.935 2,21 260.863.402.238 Trade payables - Modal dasar Authorized -
Utang lain-lain 1.249.496.051.662 2,22 950.929.698.815 Other payables 2.000.000.000 saham 2,000,000,000 shares
Liabilitas kontrak 16.792.588.559 2,22 8.396.294.285 Contract liability - Modal ditempatkan dan disetor
Beban akrual 747.917.722.754 2,24 418.497.181.717 Accrued expenses penuh Subscribed and fully paid -
Utang pajak 33.689.314.596 2,23a 44.280.351.507 Taxes payable 1.100.000.000 saham 1.100.000.000.000 31 1.100.000.000.000 1,100,000,000 shares
Porsi jangka pendek atas: Current maturities of: Tambahan modal disetor 463.406.258.255 31 463.406.258.255 Additional paid-in capital
Liabilitas sewa 14.273.387.072 2,29 5.994.120.857 Lease liabilities Selisih kurs penjabaran mata uang Difference in foreign currency
asing 330.562.222.070 2 226.489.045.520 translation
Pinjaman jangka panjang 609.253.782.578 2,25 340.930.502.489 Long-term debt
Selisih nilai transaksi dengan Difference value in transactions
Pinjaman jangka panjang lainnya 10.300.000.000 26 1.050.690.000.000 Other long-term debt kepentingan non-pengendali 846.017.059.411 31 846.017.059.411 with non-controlling interest
TOTAL LIABILITAS JANGKA Penyesuaian nilai wajar atas Fair value adjustment on cash flow
PENDEK 2.870.639.712.156 3.964.511.332.138 TOTAL CURRENT LIABILITIES 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
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES Saldo laba Retained earnings
Utang lain-lain - neto porsi jangka Other payables - net of current Ditentukan penggunaannya 220.000.000.000 31 220.000.000.000 Appropriated -
pendek 69.292.188.853 2,22 60.020.869.805 portion
Tidak ditentukan penggunaannya 291.596.388.463 278.032.670.382 Unappropriated -
Liabilitas kontrak - neto porsi Contract liability - net of current
jangka pendek 49.851.116.451 2,22 31.252.873.177 portion Jumlah ekuitas yang dapat Total equity attributable to the
diatribusikan kepada pemilik equity holders of the parent
Beban akrual - neto porsi jangka Accrued expenses - net of current entitas induk 3.776.842.108.282 3.703.763.443.364 company
pendek 249.419.441.840 2,24 85.958.175.600 portion
Kepentingan nonpengendali 3.187.261.696.151 30a 2.941.152.761.239 Non-controlling interests
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 TOTAL EKUITAS 6.964.103.804.433 6.644.916.204.603 TOTAL EQUITY
pendek 45.204.529.262 2,29 16.465.366.672 portion
TOTAL LIABILITAS DAN TOTAL LIABILITIES AND
Pinjaman jangka panjang - neto Long-term debt - net of current EKUITAS 20.345.492.544.496 18.411.631.841.862 EQUITY
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 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 bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole. keseluruhan. whole.
2 3
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2025 Management Business Company Corporate Sustainability
150 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 151
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) AND OTHER COMPREHENSIVE INCOME (continued)
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2025 December 31, 2025 31 Desember 2025 December 31, 2025
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Catatan/ Catatan/
2025 Notes 2024 2025 Notes 2024
PENDAPATAN USAHA 2.931.985.516.898 2,32 3.271.301.776.624 REVENUES LABA (RUGI) TAHUN
BERJALAN YANG DAPAT PROFIT (LOSS) FOR THE YEAR
BEBAN POKOK PENDAPATAN (1.442.458.094.130) 2,33 (2.077.507.364.376) COST OF REVENUES DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
Laba (rugi) tahun berjalan yang Profit (loss) for the year attributable
LABA BRUTO 1.489.527.422.768 1.193.794.412.248 GROSS PROFIT diatribusikan kepada pemilik to equity holders of the parent
entitas induk 17.191.338.200 (262.932.690.349) company
Beban operasional (683.505.878.335) 2,34 (610.163.647.504) Operating expenses
Laba tahun berjalan yang
Bagian laba dari ventura bersama Share in net profit of joint venture diatribusikan kepada Profit for the year attributable to
dan asosiasi 60.847.420.895 15 43.602.207.842 and associate kepentingan non-pengendali 225.948.918.959 2,30b 154.543.666.083 non-controlling interests
Pendapatan lain-lain 211.099.042.575 2,35 123.803.784.209 Other income
243.140.257.159 (108.389.024.266)
Beban lain-lain (24.931.126.573) 2,36 (171.909.650.107) Other expenses
TOTAL PENGHASILAN (RUGI)
LABA DARI OPERASI 1.053.036.881.330 579.127.106.688 PROFIT FROM OPERATIONS KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN YANG DAPAT INCOME (LOSS) FOR THE YEAR
Pendapatan bunga 135.189.914.650 75.307.860.551 Interest income DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
Pajak atas pendapatan bunga (21.294.887.133) (15.061.572.110) Tax on interest income Laba (rugi) komprehensif tahun Comprehensive income (loss) for
Beban pendanaan (792.382.082.023) 37 (686.855.446.547) Finance costs 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 (RUGI) SEBELUM BEBAN PROFIT (LOSS) BEFORE
PAJAK PENGHASILAN 374.549.826.824 (47.482.051.418) INCOME TAX EXPENSES
Laba komprehensif tahun berjalan Comprehensive income for the
yang diatribusikan kepada year attributable to non-
BEBAN PAJAK PENGHASILAN kepentingan non-pengendali 272.660.907.612 264.788.538.237 controlling interests
(131.409.569.665) 2,23b (60.906.972.848) INCOME TAX EXPENSE
LABA (RUGI) TAHUN 345.739.572.530 184.844.578.947
BERJALAN 243.140.257.159 (108.389.024.266) PROFIT (LOSS) FOR THE YEAR
LABA (RUGI) PER SAHAM BASIC EARNINGS (LOSS) PER
PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVE YANG DAPAT DIATRIBUSIKAN SHARES ATTRIBUTABLE TO
LAIN INCOME KEPADA PEMILIK ENTITAS EQUITY HOLDERS OF THE
INDUK 15,63 (239,03) PARENT COMPANY
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 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 bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole. keseluruhan. whole.
4 5
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2025 Management Business Company Corporate Sustainability
152 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments 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 PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2025 For the Year Ended December 31, 2025
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Diatribusikan kepada pemilik entitas induk/Attributable to the equity holders of the parent company
Penyesuaian nilai
wajar atas Total ekuitas
instrumen Bagian laba yang dapat
lindung nilai arus komprehensif lain Selisih transaksi diatribusikan
kas (Catatan 27)/ Selisih kurs dari entitas dengan pihak kepada pemilik
Fair value karena ventura bersama non-pengendali entitas induk/
Tambahan modal Saldo laba Saldo laba tidak adjustment on penjabaran mata (Catatan 15)/ (Catatan 31)/ Total equity Kepentingan non-
Modal saham disetor (Catatan ditentukan ditentukan cash flow uang asing/ Share of other Difference in attributable to the pengendali
(Catatan 31)/ 31)/ Additional penggunaannya/ penggunaannya/ hedging Difference in comprehensive transactions with equity holders of (Catatan 30)/ Non-
Catatan/ Capital stock paid-in capital Appropriated Unappropriated instrument foreign currency income of joint non-controlling the parent controlling Total ekuitas/
Notes (Note 31) (Note 31) retained earnings retained earnings (Note 27) translation venture (Note 15) interest (Note 31) company Interests (Note 30) Total equity
Saldo tanggal 31 Desember 2023 1.100.000.000.000 463.406.258.255 220.000.000.000 538.847.501.970 133.904.710.688 194.374.020.775 287.157.851.555 846.017.059.411 3.783.707.402.654 2.769.189.952.530 6.552.897.355.184 Balance, December 31, 2023
Laba (rugi) tahun berjalan - - - (262.932.690.349) - - - - (262.932.690.349) 154.543.666.083 (108.389.024.266) Profit (loss) for the year
Penghasilan (kerugian)
komprehensif lain - - - 2.117.858.761 62.395.333.674 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 penghasilan (kerugian) Total comprehensive income (loss)
komprehensif tahun berjalan - - - (260.814.831.588) 62.395.333.674 32.115.024.745 86.360.513.879 - (79.943.959.290) 264.788.538.237 184.844.578.947 for the year
Pembagian dividen untuk Dividend distribution to non-
kepentingan non-pengendali 30 - - - - - - - - - (92.825.729.528) (92.825.729.528) controlling interest
Saldo per 31 Desember 2024 1.100.000.000.000 463.406.258.255 220.000.000.000 278.032.670.382 196.300.044.362 226.489.045.520 373.518.365.434 846.017.059.411 3.703.763.443.364 2.941.152.761.239 6.644.916.204.603 Balance, December 31, 2024
Laba tahun berjalan - - - 17.191.338.200 - - - - 17.191.338.200 225.948.918.959 243.140.257.159 Profit for the year
Penghasilan (kerugian)
komprehensif lain - - - (3.627.620.119) (71.673.666.119) 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 penghasilan (kerugian) Total comprehensive income (loss)
komprehensif tahun berjalan - - - 13.563.718.081 (71.673.666.119) 104.073.176.550 27.115.436.406 - 73.078.664.918 272.660.907.612 345.739.572.530 for the year
Pembagian dividen untuk Dividend distribution to non-
kepentingan non-pengendali 30 - - - - - - - - - (112.158.972.700) (112.158.972.700) controlling interest
Setoran modal dari kepentingan Capital contribution from non-
non-pengendali 85.607.000.000 85.607.000.000 controlling interest
Saldo per 31 Desember 2025 1.100.000.000.000 463.406.258.255 220.000.000.000 291.596.388.463 124.626.378.243 330.562.222.070 400.633.801.840 846.017.059.411 3.776.842.108.282 3.187.261.696.151 6.964.103.804.433 Balance, December 31, 2025
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.
6
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2025 Management Business Company Corporate Sustainability
154 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 155
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CASH FLOWS LAPORAN ARUS KAS KONSOLIDASIAN (lanjutan) CONSOLIDATED STATEMENT OF CASH FLOWS
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended Untuk Tahun yang Berakhir pada Tanggal (continued)
31 Desember 2025 December 31, 2025 31 Desember 2025 For the Year Ended
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) December 31, 2025
(Expressed in Rupiah, Unless Otherwise Stated)
Catatan/ Catatan/
2025 Notes 2024 2025 Notes 2024
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
OPERASI OPERATING ACTIVITIES PENDANAAN FINANCING ACTIVITIES
Penerimaan kas dari pelanggan 2.530.250.410.498 1.974.845.182.184 Cash receipts from customers Hasil yang diperoleh dari pinjaman
Pembayaran kas kepada pemasok (657.996.439.615) (348.121.887.693) Cash paid to suppliers jangka panjang 2.420.822.463.674 2.201.956.370.734 Proceeds from long-term debts
Pembayaran kas kepada karyawan (355.578.918.477) (407.171.808.321) Cash paid to employees Hasil yang diperoleh dari pinjaman Proceeds from other long-term
jangka panjang lainnya 1.650.000.000.000 750.000.004.127 debts
Pembayaran kas untuk biaya
operasional (399.812.250.228) (455.622.880.345) Cash paid for operating expenses Hasil yang diperoleh dari pinjaman
jangka pendek - 610.986.250.000 Proceeds from short-term debts
Kas yang dihasilkan dari kegiatan Pembayaran beban bunga dan
usaha 1.116.862.802.178 763.928.605.825 Cash generated from operations beban pendanaan (643.459.258.625) (595.520.777.910) Interest and financing charges paid
Pembayaran pajak penghasilan (119.674.850.635) (56.006.643.624) Income tax paid Pembayaran atas pinjaman jangka
panjang (1.664.702.475.835) (1.818.748.695.405) Payments of long-term debt
Kas neto diperoleh dari aktivitas Net cash provided by by
operasi 997.187.951.543 707.921.962.201 operating activities Pembayaran atas pinjaman jangka
panjang lainnya (1.050.690.000.000) (7.000.000.000) Payments of other long-term debt
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING Pembayaran atas pinjaman jangka
INVESTASI ACTIVITIES pendek (1.006.008.395.808) 25 (1.692.869.773.001) Payments of short-term bank loans
Addition to concession financial Pencairan (penempatan) deposito Withdrawal (placement) of
Penambahan atas aset konsesi (58.172.772.910) (157.138.957.364) assets dan rekening bank yang dibatasi restricted cash in banks and time
penggunaannya (5.891.611.567) 10.979.115.982 deposits
Acquisitions of property, plant and
Penambahan aset tetap (380.057.375.552) 18 (404.267.928.306) equipments Pembayaran liabilitas sewa (20.558.129.878) (20.000.129.878) Repayment of lease liabilities
Pembagian dividen untuk Dividend distribution to non-
Penambahan aset takberwujud (2.734.483.473) (7.867.386.164) Acquisitions of intangible assets kepentingan non-pengendali (112.158.972.700) 30 (92.825.729.528) controlling interest
Penerimaan utang lain-lain dari Proceeds from other payables of
Penerimaan (penambahan) uang Collection (acquisition) of kepentingan non-pengendali 287.509.983.600 279.538.058.435 non-controlling interest
muka 211.980.800.000 (771.075.454) advances
Penerimaan (penambahan) Collection (addition) of due to Hasil dari penerbitan saham 85.607.000.000 - Proceeds from share issuance
piutang berelasi 64.802.730.000 (42.470.770.443) related parties
Penerimaan (penambahan) Collection (addition) of other Kas neto yang digunakan untuk Net cash used in financing
piutang lain-lain (109.950.586.561) 12.379.448.293 receivables aktivitas pendanaan (59.529.397.139) (373.505.306.444) activities
Penerimaan bunga 135.189.914.650 75.307.860.551 Interest received
Penambahan aset eksplorasi dan Addition to exploration and NET INCREASE (DECREASE) IN
evaluasi (175.462.202.873) 16 (25.904.724.075) evaluation assets KENAIKAN (PENURUNAN) CASH AND CASH
Penerimaan dari penjualan aset Sale of property, plant and NETO KAS DAN SETARA KAS 625.876.388.826 (256.252.620.845) EQUIVALENTS
tetap 2.621.811.141 18 314.256.360 equipments
PERBEDAAN NILAI TUKAR NET FOREIGN EXCHANGE
Penambahan investasi saham - 15 (40.250.000.000) Addition of investment in shares NETO 36.928.424.275 (2.319.618.565) DIFFERENCE
Kas neto yang digunakan untuk Net cash used in investing CASH AND CASH
aktivitas investasi (311.782.165.578) (590.669.276.602) activities 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 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 bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole. keseluruhan. whole.
7 8
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2025 Management Business Company Corporate Sustainability
156 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 157
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM 1. GENERAL 1. UMUM (lanjutan) 1. GENERAL (continued)
a. Informasi Umum a. General Information a. Informasi Umum (lanjutan) a. General Information (continued)
Susunan Dewan Komisaris dan Direksi The members of the Company’s Boards of
PT Medco Power Indonesia (“Perusahaan”) PT Medco Power Indonesia (the “Company”) Perusahaan pada tanggal 31 Desember 2025 Commissioners and Directors as of December
didirikan dengan nama PT Medco Power was established under the name of PT Medco dan 2024 adalah sebagai berikut: 31, 2025 and 2024 are as follows:
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 2025 2024
berdasarkan Akta Notaris No. 10 oleh Ny. amended on September 3, 2004, based on Dewan Komisaris: Board of Commissioners:
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 Komisaris Utama Amri Siahaan Amri Siahaan President Commissioner
nama Perusahaan menjadi PT Medco Power name to PT Medco Power Indonesia. The Komisaris Independen M. Teguh Pamuji M. Teguh Pamuji Independent Commissioner
Indonesia. Akta pendirian dan perubahannya deed of establishment and its amendment Komisaris Darmoyo Doyoatmojo Darmoyo Doyoatmojo Commissioner
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 Direksi: Board of Directors:
dan diumumkan dalam Berita Negara Republik September 29, 2004 and was published in Direktur Utama Eka Satria Eka Satria President Director
Indonesia No. 895, Tambahan No.7 tanggal 25 State Gazette No. 895, Supplement No.7
Januari 2005. dated January 25, 2005. Direktur Femi Firsadi Sastrena Femi Firsadi Sastrena Director
Direktur Imron Gazali Imron Gazali Director
Anggaran Dasar Perusahaan beberapa kali The Company’s Articles of Association has Direktur Myrta Sri Utami Myrta Sri Utami Director
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 Komite Audit: Audit Committee:
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 Ketua M. Teguh Pamuji M. Teguh Pamuji Chairman
13, yang telah disetujui oleh Menteri Hukum No. 13 which was approved by the Ministry of Anggota Ferry Sanjaya Ferry Sanjaya Member
dan Hak Asasi Manusia dalam suratnya No. Law and Human Rights in its letter No. AHU- Anggota Hendry Hendry Member
AHU-AH.01.03-0063938 tanggal 15 Mei 2023. AH.01.03-0063938 dated May 15, 2023.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
Sesuai dengan Pasal 3 Anggaran Dasar As stated in Article 3 of the Company’s Articles Perusahaan dan Entitas Anaknya (secara Company and its Subsidiaries (collectively
Perusahaan, ruang lingkup aktivitas of Association, the scope of activities of the kolektif disebut sebagai “Grup”) memiliki referred to as the “Group”) have 786 and 758
Perusahaan terdiri dari, antara lain, Company comprises, among others, acquiring, karyawan tetap masing-masing sebanyak 786 permanent employees, respectively
mengambil alih, membangun dan developing and operating power plant; selling dan 758 orang (tidak diaudit). (unaudited).
mengoperasikan pembangkit listrik; penjualan electricity; operating and maintaining power
tenaga listrik; mengoperasikan dan plant, transmission and electricity distribution Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
memelihara pembangkit listrik, transmisi dan network; providing engineering procurement entitas induk terakhir Perusahaan adalah PT Company’s ultimate parent company is PT
jaringan distribusi; melakukan jasa rekayasa and construction services; providing power Kalibiru Energi Lestari. Kalibiru Energi Lestari.
pengadaan dan konstruksi; melakukan jasa support business; providing management
penunjang kelistrikan; melakukan jasa consulting services on electricity business b. Aksi Korporasi b. Corporate action
konsultasi manajemen bisnis bidang area; developing, operating and maintaining
kelistrikan; membangun, mengoperasikan dan gas piping for gas supply. Pada tanggal 1 Juli 2025, Perusahaan telah On July 1, 2025, the Company issued a Shelf
memelihara pipa gas untuk keperluan menerbitkan Obligasi Berkelanjutan I Medco Public Offering Bonds I Medco Power
pemasokan gas. 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
Perusahaan telah melakukan seluruh kegiatan The Company performs all of those activities, pernyataan efektif dari Otoritas Jasa has been obtained from the Financial Services
tersebut, kecuali membangun, except for operating and maintaining gas Keuangan pada tanggal 20 Juni 2025 dan Authority on June 20, 2025 and initial listing at
mengoperasikan dan memelihara pipa gas piping for gas supply. melakukan pencatatan perdana di Bursa Efek Indonesia Stock Exchange on July 2, 2025
untuk keperluan pemasok gas. 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
Perusahaan berdomisili di Jakarta, Indonesia, The Company is domiciled in Jakarta, dengan tenor 5 tahun dan untuk Seri B amounting to Rp200,000,000,000 with a tenor
dengan kantor beralamat pada The Energy Indonesia, with its office located at The Energy sebesar Rp200.000.000.000 dengan tenor 7 of 7 years. The total issuance of the bonds
Building, lantai 8, Jl. Jenderal Sudirman Kav. Building, 8th floor, Jl. Jenderal Sudirman Kav. tahun. Jumlah Obligasi yang diterbitkan Rp500,000,000,000.
52-53 Lot 11A SCBD, Senayan, Kebayoran 52-53 Lot 11A SCBD, Senayan, Kebayoran adalah sebesar Rp500.000.000.000.
Baru, Jakarta Selatan 12190. Baru, Jakarta Selatan 12190. 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
Perusahaan memulai kegiatan operasi The Company started commercial operations Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase IV year 2025
komersialnya pada tanggal 9 Juni 2005. on June 9, 2005. 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.
9 10
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2025 Management Business Company Corporate Sustainability
158 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 159
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued) 1. UMUM (lanjutan) 1. GENERAL (continued)
b. Aksi Korporasi (lanjutan) b. Corporate action (continued) c. Struktur Entitas Anak c. Structure of the Subsidiaries
Pada tanggal 18 Januari 2024, Perusahaan On January 18, 2024, the Company issued i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the
telah menerbitkan Sukuk Wakalah Shelf Public Offering Sharia Compliant Bonds I 2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase III year 2024 sebagai berikut:
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 Total Aset
(dalam ribuan rupiah)
Otoritas Jasa Keuangan pada tanggal 26 Juli from the Financial Services Authority on July (Sebelum eliminasi untuk
2022 dan melakukan pencatatan perdana di 26, 2022 and initial listing at Indonesia Stock konsolidasi)/
Bursa Efek Indonesia pada tanggal 19 Januari Exchange on January 19, 2024, amounting to Kepemilikan Total Assets
2024, dengan jumlah Rp175.995.000.000 Rp175,995,000,000 for Tranche A, Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
untuk Seri A, Rp494.490.000.000 untuk Seri B Rp494,490,000,000 for Tranche B and Ownership (%) consolidation)
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. Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
sebesar Rp750.000.000.000. Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
Pada tanggal 27 Desember 2022, Perusahaan On December 27, 2022, the Company issued of Incorporation Operations Nature of Business 2025 2024 2025 2024
telah menerbitkan Sukuk Wakalah Shelf Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase II year 2022 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/
II tahun 2022 Seri A dan Seri B yang telah Tranche A and Tranche B in which the Indonesia started commercial Operation of power
mendapatkan pernyataan efektif dari Otoritas statement of effectivity has been obtained from operations plant
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 PT Indo Medco Belum memulai kegiatan Operasi atas 99,98% 99,98% 2.004.347 2.003.390
Indonesia pada tanggal 28 Desember 2022, Exchange on December 28, 2022, amounting Power ("IMP"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
dengan jumlah Rp469.690.000.000 untuk Seri to Rp469,690,000,000 for Tranche A and operations plant
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 PT Muara Enim Multi Belum memulai kegiatan Operasi atas 80,00% 80,00% 1.406.850 1.390.123
sebesar Rp600.000.000.000. Rp600,000,000,000. Power ("MEMP"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
Pada tanggal 4 Agustus 2022, Perusahaan On August 4, 2022, the Company issued Shelf operations plant
telah menerbitkan Sukuk Wakalah Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase I year 2033 PT Medco Belum memulai kegiatan Entitas bertujuan 100,00% 100,00% 1.224.549.227 965.560.720
I tahun 2022 Seri A dan Seri B yang telah Tranche A and Tranche B in which the Geothermal komersial/Has not yet khusus untuk proyek
mendapatkan pernyataan efektif dari Otoritas statement of effectivity has been obtained from Indonesia ("MGI"), 1) started commercial geothermal/Special
Indonesia operations purpose company for
Jasa Keuangan pada tanggal 26 Juli 2022 dan the Financial Services Authority on July 26, geothermal projects
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 PT Medco Cahaya 9 Februari/February 9, Operasi atas 51,00% 51,00% 4.657.400.633 4.190.869.842
dengan jumlah Rp280.000.000.000 untuk Seri Rp280,000,000,000 for Tranche A and Geothermal ("MCG"), 2025 pembangkit listrik/
A dan Rp220.000.000.000 Seri B. Jumlah Rp220,000,000,000 for Tranche B. Tranche A 2) Operation of power
Sukuk Wakalah yang diterbitkan adalah and Tranche B amounted to Indonesia plant
sebesar Rp500.000.000.000. Rp500,000,000,000. 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,
Pada tanggal 23 Mei 2019, Perusahaan telah On May 23, 2019, the Company issued Medco Indonesia started commercial SHC, SHB, SHPL/
menerbitkan Sukuk Wakalah Medco Power Power Indonesia Sukuk Wakalah II for the operations Holding company of
Indonesia II tahun 2019 yang telah year 2019 in which the statement of effectivity SHL, BJI, SHS, SHK,
SHC, SHB, SHPL
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 PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 56,00% 56,00% 1.000.000 1.000.000
melakukan pencatatan perdana di Bursa Efek Indonesia Stock Exchange on May 24, 2019 Lestari ("SHL"), 2) komersial/Has not yet pembangkit listrik/
Indonesia pada tanggal 24 Mei 2019, dengan with sukuk wakalah amounted to Indonesia started commercial Operation of power
operations plant
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 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
I dan sukuk wakalah Medco Power Indonesia I Indonesia sukuk wakalah I for the year 2018 in Indonesia dan penyediaan
tahun 2018 yang telah mendapatkan which the statement of effectivity has been tenaga listrik sampai
pernyataan efektif dari Otoritas Jasa obtained from the Financial Services Authority dengan 2032 sesuai
Keuangan pada tanggal 26 Juni 2018 dan on June 26, 2018 and initial listing at dengan Perjanjian
Pembelian Listrik/
melakukan pencatatan perdana di Bursa Efek Indonesia Stock Exchange on July 5, 2018 Operation of power
Indonesia pada tanggal 5 Juli 2018, dengan with bonds and sukuk wakalah amounted to plant and supply of
obligasi dan sukuk wakalah masing-masing Rp600,000,000,000, respectively. Bonds and electric power until
2032 in accordance
sebesar Rp600.000.000.000. Jumlah obligasi sukuk wakalah amounted to with Power Purchase
dan sukuk wakalah adalah sebesar Rp1,200,000,000,000. Agreement ("PPA")
Rp1.200.000.000.000.
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
11 12
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2025 Management Business Company Corporate Sustainability
160 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 161
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued) 1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (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 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: 2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued) sebagai berikut: (lanjutan) (continued)
Total Aset Total Aset
(dalam ribuan rupiah) (dalam ribuan rupiah)
(Sebelum eliminasi untuk (Sebelum eliminasi untuk
konsolidasi)/ konsolidasi)/
Kepemilikan Total Assets Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah) Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for Effective (Before elimination for
Ownership (%) consolidation) Ownership (%) consolidation)
Entitas Anak Entitas Anak
Negara Perusahaan Dimulainya Kegiatan Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/ Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/ Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024 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 PT Medco Power 10 Februari/February Entitas induk dari 100,00% 100,00% 662.840.079 653.941.920
Kasmar ("SHK"), 2) komersial/Has not yet pembangkit listrik/ Sentral Sumatra 10, 2022 MRPR/Holding
Indonesia started commercial Operation of power ("MPSS"), 1) company of MRPR
operations plant 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
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 70,00% 70,00% 1.000.000 1.000.000 ("MRPR"), 2) dan penyediaan
Cisereuh ("SHC"), 2) komersial/Has not yet pembangkit listrik/ Indonesia tenaga listrik sampai
Indonesia started commercial Operation of power dengan 2042 sesuai
operations plant dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 67,20% 67,20% 1.000.000 1.000.000 electric power until
Patikala Lima komersial/Has not yet pembangkit listrik/ 2042 in accordance
("SHPL"), 2) started commercial Operation of power with PPA
Indonesia operations plant
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
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 67,20% 67,20% 1.573.610 1.576.119 Indonesia operations plant
Baliase ("SHB"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power PT Medcopower Belum memulai kegiatan Operasi atas 100,00% 100,00% 515.904 511.927
operations plant Surya Nusantara komersial/Has not yet pembangkit listrik/
("MPSN"), 2) started commercial Operation of power
Indonesia 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 PT Medcopower 24 Agustus/August 24, Operasi atas 100,00% 100,00% 1.767.370 1.364.916
("PPP"), 1) dan penyediaan Transportasi Listrik 2021 kendaraan listrik dan
Indonesia tenaga listrik sampai ("MPTL"), 2) infrastruktur
dengan 2033 sesuai Indonesia pendukung/
dengan Perjanjian Operation of electric
Pembelian Listrik/ vehicles and related
Operation of power infrastructures
plant and supply of
electric power until PT Medcosolar Bali 17 Juli/July 17, 2025 Operasi atas 51,00% 51,00% 386.948.546 240.046.856
2033 in accordance Timur ("MSBT"), 1) pembangkit listrik/
with PPA Indonesia Operation of power
plant
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 PT Medco Solar Bali Belum memulai kegiatan Operasi atas 51,00% 51,00% 48.678.404 48.873.949
Indonesia started commercial SHBar dan NES/ Barat ("MSBB"), 1) komersial/Has not yet pembangkit listrik/
operations Holding company of Indonesia started commercial Operation of power
SHBar and NES operations plant
PT Medco Kansai Belum memulai kegiatan Entitas Induk dari 60,00% 60,00% 2.257.942.596 2.181.479.859
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 100,00% 100,00% 12.471.901 12.476.254 Power Indonesia komersial/Has not yet DEB, MGS, EPE,
Barat ("SHBar"), 2) komersial/Has not yet pembangkit listrik/ ("MKPI"), 1) started commercial MPE, MPSI, UBE,
Indonesia started commercial Operation of power Indonesia operations MEM, MGPS /
operations plant Holding company of
DEB, MGS, EPE,
MPE, MPSI, UBE,
MEM, MGPS
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/ PT Dalle Energy 24 Januari/January 24, Operasi atas 47,99% 47,99% 767.931.949 436.076.887
Indonesia started commercial Operation of power Batam ("DEB"), 2) 2006 pembangkit listrik
operations plant Indonesia dan penyediaan
tenaga listrik sampai
PT Medco Belum memulai kegiatan Operasi atas 100,00% 100,00% 2.691.000 2.613.500 dengan 2030 sesuai
Geothermal komersial/Has not yet pembangkit listrik/ dengan Perjanjian
Nusantara ("MGN"), started commercial Operation of power Pembelian Listrik/
1) operations plant Operation of power
Indonesia plant and supply of
electric power until
2030 in accordance
with PPA
13 14
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2025 Management Business Company Corporate Sustainability
162 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 163
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued) 1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (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 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: 2024, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued) sebagai berikut: (lanjutan) (continued)
Total Aset Total Aset
(dalam ribuan rupiah) (dalam ribuan rupiah)
(Sebelum eliminasi untuk (Sebelum eliminasi untuk
konsolidasi)/ konsolidasi)/
Kepemilikan Total Assets Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah) Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for Effective (Before elimination for
Ownership (%) consolidation) Ownership (%) consolidation)
Entitas Anak Entitas Anak
Negara Perusahaan Dimulainya Kegiatan Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/ Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/ Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024 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 PT Mitra Energi 29 Oktober/October 29, Operasi atas 42,39% 42,39% 638.793.090 600.905.267
Elektrindo ("MPE"), 2) pembangkit listrik Batam ("MEB"), 2) 2004 pembangkit listrik
Indonesia dan penyediaan Indonesia dan penyediaan
tenaga listrik sampai tenaga listrik sampai
dengan 2028 sesuai dengan 2034 sesuai
dengan Perjanjian dengan Perjanjian
Pembelian Listrik/ Pembelian Listrik/
Operation of power Operation of power
plant and supply of plant and supply of
electric power until electric power until
2028 in accordance 2034 in accordance
with PPA with PPA
PT Energi Prima 1 Juli/July 1, 2006 Operasi atas 55,50% 55,50% 86.889.425 116.430.104 PT TJB Power 1 Oktober/October 1, Operasi atas 49,88% 49,88% 259.258.773 222.785.728
Elektrika ("EPE"), 2) pembangkit listrik Services ("TJBPS"), 2006 pembangkit listrik
Indonesia dan penyediaan 2) selama 24 tahun
tenaga listrik sampai Indonesia sesuai dengan
dengan 2026 sesuai perjanjian operasi
dengan Perjanjian dan pemeliharaan/
Pembelian Listrik/ Operation of power
Operation of power plant for 24 years in
plant and supply of accordance with
electric power until Operation and
2026 in accordance Maintenance
with PPA Agreement
PT Medcopower 10 Februari/February Operasi atas 62,00% 62,00% 74.471.553 77.989.526 PT Medco General 28 Juli/July 28, 2008 Induk dari 59,76% 59,76% 73.477.708 73.298.475
Servis Indonesia 10, 2022 pembangkit listrik Power Services Perusahaan dari
("MPSI"), 2) selama 20 tahun ("MGPS"), 2) TJBPS/Holding
Indonesia sesuai dengan Indonesia company of TJBPS
perjanjian operasi
dan pemeliharaan/ PT Medco Solar Belum memulai kegiatan Operasi atas 100,00% 100,00% 2.500.050 2.500.050
Operation of power Pasifik (“MSP"), 2) komersial/Has not yet pembangkit listrik/
plant for 20 years in Indonesia started commercial Operation of power
accordance with operations plant
Operation and
Maintenance Medco Power Global Belum memulai kegiatan Operasi atas 100,00% 100,00% 68.761.516 62.710.881
Agreement Pte. Ltd. ("MPG"), 1) komersial/Has not yet pembangkit listrik/
Singapura/Singapore started commercial Operation of power
PT Universal Batam 6 Januari/January 6, Entitas induk dari 42,00% 42,00% 293.366.835 221.597.178 operations plant
Energy ("UBE"), 2) 2016 ELB/Holding
Indonesia company of ELB PT Medcopower Belum memulai kegiatan Pemegang saham 100,00% 100,00% 2.585.521 2.512.946
PT Energi Listrik 6 Januari/January 6, Operasi atas 43,39% 43,39% 2.288.923.629 1.851.020.922 Elektrika Indonesia komersial/Has not yet minoritas dari MSP/
Batam ("ELB"), 2) 2016 pembangkit listrik ("MPEI"), 1) started commercial Minority shareholder
Indonesia dan penyediaan Indonesia operations of MSP
tenaga listrik sampai
dengan 2045 sesuai PT Medco 22 April/April 22, 2008 Operasi atas 61,96% 61,96% 120.104.006 120.577.083
dengan Perjanjian Geothermal Sarulla pembangkit listrik
Pembelian Listrik/ ("MGS"), 2) selama 6 tahun
Operation of power Indonesia sesuai dengan
plant and supply of perjanjian operasi
electric power until dan pemeliharaan/
2045 in accordance Operation of power
with PPA plant for 6 years in
accordance with
PT Medco Energi 29 Oktober/October 29, Entitas Induk dari 59,99% 59,99% 150.913.218 150.913.338 Operation and
Menamas ("MEM"), 2) 2004 MEB/Holding Maintenance
Indonesia company of MEB Agreement
15 16
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2025 Management Business Company Corporate Sustainability
164 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 165
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued) 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL POLICIES INFORMATION
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of the Consolidated
i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the Konsolidasian Financial Statements
2024, Perusahaan memiliki entitas anak Company has the following subsidiaries: Laporan keuangan konsolidasian telah The consolidated financial statements have
sebagai berikut: (lanjutan) (continued) 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
Total Aset
(dalam ribuan rupiah) dikeluarkan oleh Dewan Standar Akuntansi Interpretations issued by the Financial
(Sebelum eliminasi untuk Keuangan Ikatan Akuntan Indonesia (“DSAK Accounting Standards Board of the Institute of
konsolidasi)/ IAI”) dan Peraturan-Peraturan serta Pedoman Indonesia Chartered Accountants (Dewan
Kepemilikan Total Assets Penyajian dan Pengungkapan Laporan Standar Akuntansi Keuangan Ikatan Akuntan
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for Keuangan yang diterbitkan oleh Otoritas Jasa Indonesia or “DSAK IAI”) and the Regulations
Ownership (%) consolidation) Keuangan (“OJK”). and Guidelines on Financial Statement
Presentation and Disclosures issued by
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan Financial Services Authority (Otoritas Jasa
Berada/ Komersial/ Keuangan or “OJK”).
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2025 2024 2025 2024 Laporan keuangan konsolidasian disusun The consolidated financial statements have
PT Medco Belum memulai kegiatan Operasi atas 100,00% 100,00% 121.791.940 13.243.450 berdasarkan konsep akrual, kecuali laporan been prepared on the accrual basis, except for
Geothermal komersial/Has not yet pembangkit listrik/ arus kas konsolidasian, dengan menggunakan the consolidated statement of cash flows,
Sumatera ("MGSu"),
2) Indonesia
started commercial Operation of power konsep biaya historis, kecuali seperti yang using the historical cost concept of accounting,
operations plant
disebutkan dalam Catatan atas laporan except as disclosed in the relevant Notes to
PT Medco Power 21 September/ Operasi atas 100,00% 100,00% 24.572.980 20.606.484 keuangan konsolidasian yang relevan. the consolidated financial statements herein.
Energi Services September 21, 2024 pembangkit listrik/
("MPES"), 1) Operation of power Kebijakan akuntansi yang diterapkan oleh The accounting policies adopted by the Group
Indonesia plant
Grup adalah selaras bagi tahun yang dicakup are consistently applied for the years covered
PT Medco Power 9 Februari/February 9, Operasi atas 60,00% 60,00% 46.665.327 16.219.259 oleh laporan keuangan konsolidasian, kecuali by the consolidated financial statements,
Geothermal Services 2025 pembangkit listrik/ untuk standar akuntansi baru dan revisi seperti except for new and revised accounting
("MPGS"), 2) Operation of power diungkapkan pada Catatan 2y di bawah ini. standards as disclosed in the following Note
Indonesia plant
2y.
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/ Grup telah menyusun laporan keuangan The Group has prepared the consolidated
("MPST"), 1) started commercial Operation of power konsolidasian dengan dasar bahwa Grup akan financial statements on the basis that it will
Indonesia operations plant
terus beroperasi secara berkesinambungan. continue to operate as a going concern.
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/ Laporan arus kas konsolidasian menyajikan The consolidated statement of cash flows
("MPGE"), 2) started commercial Operation of power penerimaan dan pengeluaran kas dan setara presents receipts and disbursements of cash
Indonesia operations plant
kas yang diklasifikasikan ke dalam aktivitas and cash equivalents classified into operating,
operasi, investasi dan pendanaan. Arus kas investing and financing activities. The cash
1) Entitas anak dengan kepemilikan langsung oleh PT Medco Power Indonesia 1) Subsidiaries held directly by PT Medco Power Indonesia dari aktivitas operasi disajikan dengan flows from operating activities are presented
2) Entitas anak dengan kepemilikan tidak langsung 2) Subsidiaries held indirectly through subsidiary undertakings menggunakan metode langsung. using the direct method.
ii. Perusahaan, melalui MGeoPS, memiliki ii. The Company, through MGeoPS, has b. Prinsip Konsolidasi b. Principles of Consolidation
kepemilikan sebesar 18,8075% pada interest of 18.8075% in the Sarulla
Sarulla Geothermal Operation (Grup Geothermal Operation (Joint Operation Laporan keuangan konsolidasian terdiri dari The consolidated financial statements
Kontraktror Pengendalian Bersama) Contractor Group) (“JOCG”). After the laporan keuangan Perusahaan dan entitas comprise the financial statements of the
(“GKPB”). Setelah pengalihan 2% transfer of MPI's 2% ownership in anaknya seperti dijelaskan pada Catatan 1c. Company and its subsidiaries as described in
kepemilikan MPI pada MGeoPS di bulan MGeoPS in May 2021, the effective Note 1c.
Mei 2021, maka kepemilikan efektif pada ownership in JOCG decreased to 18.07%
GKPB turun menjadi 18,07% (Note 15). MGeoPS owned 36.8775% Laporan keuangan konsolidasian meliputi The consolidated financial statements
(Catatan 15). MGeoPS memiliki interest in JOCG. The JOCG is engaged in laporan keuangan Perusahaan dan entitas- comprise the financial statements of the
kepentingan sebesar 36,8775% di GKPB. the exploration and exploitation of entitas anak (“Grup”) pada tanggal 31 Company and its subsidiaries (“Group”) at
GKPB ditunjuk untuk melakukan eksplorasi geothermal energy resources in the Sarulla Desember setiap tahun. Kendali diperoleh bila December 31 each year. Control is achieved
dan eksploitasi atas sumber energi area with the size of approximately 490 Grup terekspos atau memiliki hak atas imbal when the Group’s exposed, or has rights, to
geotermal pada area Sarulla dengan luas km2 (unaudited), in North Sumatera, and variable returns from its involvement with the
hasil variabel dari keterlibatannya dengan investee and has the ability to affect those
lahan sebesar 490 km2 (tidak diaudit) di to generate electricity from those resources investee dan memiliki kemampuan untuk
Sumatera Utara dan untuk menghasilkan as well as sale to PT Perusahaan Listrik returns through its power over the investee.
energi listrik dari sumber tersebut serta Negara (Persero) (“PT PLN (Persero)”). mempengaruhi imbal hasil tersebut melalui Thus, the Group controls an investee if and
menjual kepada PT Perusahaan Listrik Since December 10, 2007, JOCG kekuasaannya atas investee. Dengan only if the Group has all of the following:
Negara (Persero) (“PT PLN (Persero)”). appointed Sarulla Operations Ltd. as the demikian, investor mengendalikan investee
Sejak tanggal 10 Desember 2007, GKPB Operator. jika dan hanya jika investor memiliki seluruh
menunjuk Sarulla Operations Ltd. sebagai hal berikut ini:
Operator.
17 18
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2025 Management Business Company Corporate Sustainability
166 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 167
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Prinsip Konsolidasi (lanjutan) b. Principles of Consolidation (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 Laba rugi dan setiap komponen dari Profit or loss and each component of other
kemampuan kini untuk mengarahkan direct the relevant activities of the investee; penghasilan komprehensif lain (“PKL”) comprehensive income (“OCI”) are attributed
aktivitas relevan dari investee; diatribusikan kepada pemilik entitas induk dari to the equity holders of the parent of the Group
ii. Eksposur atau hak atas imbal hasil ii. Exposure, or rights, to variable returns Grup dan kepentingan non-pengendali and to the non-controlling interests (“NCI”),
variabel dari keterlibatan Grup dengan from its involvement with the investee; and (“KNP”), meskipun hal tersebut even if this results in the NCI having a deficit
investee; dan mengakibatkan KNP memiliki saldo defisit. balance. When necessary, adjustments are
iii. Kemampuan untuk menggunakan iii. The ability to use its power over the Ketika diperlukan, penyesuaian dibuat atas made to the financial statements of
kekuasaannya atas investee untuk investee to affect its returns. laporan keuangan entitas anak untuk subsidiaries to bring their accounting policies
mempengaruhi jumlah imbal hasil. menyesuaikan kebijakan akuntansinya sesuai into line with the Group’s accounting policies.
dengan kebijakan akuntansi Grup. Seluruh All material intercompany accounts and
Umumnya, kepemilikan hak suara mayoritas Generally, there is a presumption that a saldo akun dan transaksi yang material antar transactions, including unrealized gains and
menghasilkan pengendalian. Untuk majority of voting rights result in control. To Perusahaan, termasuk keuntungan dan losses, if any, is eliminated to reflect the
mendukung hal ini dan jika Grup memiliki hak support this presumption and when the Group kerugian belum terealisasi, jika ada, consolidated financial position and financial
suara kurang dari hak suara mayoritas, atau has less than a majority of the voting or similar dieliminasi untuk merefleksikan laporan performance of the Group as one business
hak sejenis atas suatu investee, Grup rights of an investee, the Group considers all keuangan konsolidasian Grup sebagai entity.
mempertimbangkan seluruh fakta dan relevant facts and circumstances in assessing kesatuan entitas bisnis.
keadaan ketika menilai apakah Grup memiliki whether it has power over an investee, Ketika Grup kehilangan pengendalian pada If the Group loses control over a subsidiary, it
kekuasaan atas investee, termasuk: including: entitas anak, maka Grup (i) menghentikan (i) derecognizes the related assets (including
a. pengaturan kontraktual dengan pemegang a. the contractual arrangement with the other pengakuan aset (termasuk goodwill), liabilitas, goodwill), liabilities, NCI and other component
hak suara lainnya pada investee; vote holders of the investee; KNP dan komponen ekuitas lainnya, (ii) of equity, (ii) recognize the fair value of
b. hak-hak yang timbul dari pengaturan b. rights arising from other contractual mengakui imbalan yang diterima pada nilai consideration received, (iii) reclassify to profit
kontraktual lain; dan arrangements; and wajar, (iii) mereklasifikasi ke laba rugi, atau or loss, or transfer directly to retained earnings
c. hak suara yang dimiliki Grup dan hak c. the Group voting rights and potential voting dialihkan langsung ke saldo laba apabila if required by other accounting standards, the
suara potensial. rights. diharuskan oleh standar akuntansi, jumlah amount recognized in other comprehensive
yang diakui di penghasilan komprehensif lain income in relation to the related subsidiaries,
Grup menilai kembali apakah masih The Group re-assesses whether or not it entitas anak terkait, (iv) mengakui keuntungan (iv) any resultant gain or loss with loss of
mengendalikan investee jika fakta dan controls an investee if facts and circumstances atau kerugian terkait dengan hilangnya control is recognized in profit or loss. Any
keadaan mengindikasikan bahwa terdapat indicate that there are changes to one or more pengendalian. Saldo investasi yang masih investment retained is recognized at fair value.
perubahan dalam satu atau lebih dari tiga of the three elements of control. Consolidation dimiliki diakui pada nilai wajarnya.
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 Apabila Grup berkomitmen terhadap rencana If the group commits to a planned sale that
pengendalian atas entitas anak dan berakhir the Group loses control of the subsidiary. penjualan yang mengakibatkan kehilangan results in loss of control of a subsidiary and
ketika Grup kehilangan pengendalian atas pengendalian pada entitas anak dan classifies all assets and liabilities of the
entitas anak. 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
Aset, liabilitas, pendapatan dan beban atas Assets, liabilities, income and expenses of a untuk dijual ketika kriteria sebagai aset tidak met, regardless of whether after the sale the
entitas anak yang diakuisisi atau dijual selama subsidiary acquired or disposed of during the lancar dimiliki untuk dijual terpenuhi, terlepas Group still has a non-controlling interest in the
tahun berjalan tercatat dalam laporan year are included in the consolidated financial apakah setelah penjualan tersebut Grup masih previous Subsidiary or not.
keuangan konsolidasian dari tanggal Grup statements from the date the Group gain memiliki kepentingan non-pengendali terhadap
mendapatkan pengendalian hingga tanggal control until the date the Group ceases to entitas anak terdahulu atau tidak.
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 c. Kombinasi Bisnis dan Goodwill c. Business Combination and Goodwill
mengakibatkan hilangnya pengendalian loss of control, is accounted for as an equity
transaction. Kombinasi bisnis dicatat dengan Business combinations are accounted for
dicatat sebagai transaksi ekuitas. menggunakan metode akuisisi. Biaya using the acquisition method. The cost of an
Laporan keuangan (konsolidasian) entitas The (consolidated) financial statements of the perolehan dari suatu akuisisi diukur dari nilai acquisition is measured as the aggregate of
anak dibuat untuk periode pelaporan yang subsidiaries are prepared for the same agregat imbalan yang dialihkan, diukur pada the consideration transferred, measured at
sama dengan Perusahaan, menggunakan reporting period as the Company, using nilai wajar pada tanggal akuisisi dan jumlah acquisition date fair value and the amount of
kebijakan akuntansi yang konsisten. consistent accounting policies. 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
Semua akun dan transaksi antar Grup yang All material intercompany accounts and baik pada nilai wajar ataupun pada proporsi value or at the proportionate share of the
material, termasuk keuntungan atau kerugian transactions, including unrealized gains or kepemilikan KNP atas aset neto yang acquiree’s identifiable net assets. Acquisition-
yang belum direalisasi, jika ada, dieliminasi losses, if any, are eliminated to reflect the teridentifikasi dari entitas yang diakuisisi. related costs incurred are directly expensed
untuk mencerminkan posisi keuangan dan financial position and the results of operations Biaya-biaya akuisisi yang timbul dibebankan and included in “Operating Expenses”.
hasil operasi Grup sebagai satu kesatuan of the Group as one business entity. langsung dan dicatat dalam “Beban
usaha. Operasional”.
19 20
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2025 Management Business Company Corporate Sustainability
168 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 169
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Kombinasi Bisnis dan Goodwill (lanjutan) c. Business Combination and Goodwill c. Kombinasi Bisnis dan Goodwill (lanjutan) c. Business Combination and Goodwill
(continued) (continued)
Grup menentukan bahwa mereka telah The Group determines that it has acquired a Kombinasi Bisnis Entitas Sepengendali Business Combination of Entities Under
mengakuisisi bisnis ketika rangkaian aktivitas business when the acquired set of activities Common Control
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 Berdasarkan PSAK No. 338, transaksi Under PSAK No. 338, the transaction of
signifikan berkontribusi pada kemampuan the ability to create outputs. The acquired kombinasi bisnis entitas sepengendali tidak business combination of entities under
untuk menghasilkan output. Proses yang process is considered substantive if it is critical mengakibatkan perubahan substansi ekonomi common control does not result in a change of
diperoleh adalah substantif jika penting bagi to the ability to continue producing outputs, kepemilikan atas bisnis yang dipertukarkan, the economic substance of the ownership of
kemampuan untuk terus menghasilkan output, and the inputs acquired include an organized oleh sebab itu, transaksi tersebut diakui pada businesses which are exchanged, thus the
dan input yang diperoleh mencakup tenaga workforce with the necessary skills, nilai tercatat berdasarkan metode penyatuan said transaction is recognized at its carrying
kerja yang terorganisir dengan keterampilan, knowledge, or experience to perform that kepemilikan. Dalam menerapkan metode amount using the pooling-of-interest method.
pengetahuan, atau pengalaman yang process or it significantly contributes to the penyatuan kepemilikan, unsur-unsur laporan In applying the pooling-of-interest method, the
diperlukan untuk melakukan proses itu atau ability to continue producing outputs and is keuangan dari entitas yang bergabung, untuk components of the financial statements of the
secara signifikan berkontribusi pada considered unique or scarce or cannot be tahun terjadinya kombinasi bisnis entitas combining entities, for the year during which
kemampuan untuk terus menghasilkan output replaced without significant cost, effort, or sepengendali dan untuk tahun komparatif the business combination of entities under
dan dianggap unik atau langka atau tidak delay in the ability to continue producing sajian, disajikan seolah-olah penggabungan common control occurred and for the
dapat diganti tanpa biaya, usaha, atau outputs. tersebut telah terjadi sejak awal tahun entitas comparative year, are presented in such a
penundaan yang signifikan dalam kemampuan yang bergabung berada dalam manner as if the combination has occurred
untuk terus menghasilkan output. sepengendalian. Selisih antara jumlah imbalan since the beginning of the year of the
yang dialihkan dalam kombinasi bisnis entitas combining entity under common control.
Ketika Perusahaan melakukan akuisisi atas When the Company acquires a business, the sepengendali atau jumlah imbalan yang Difference in value of considerations
sebuah bisnis, Perusahaan mengklasifikasikan Company assesses the financial assets diterima dalam pelepasan bisnis entitas transferred in a business combination of
dan menentukan aset keuangan dan liabilitas acquired and liabilities assumed for sepengendali, jika ada, dengan nilai tercatat entities under common control or
keuangan yang diambil alih sesuai dengan appropriate classification and designation in bisnis tersebut dicatat sebagai bagian dari considerations received in a disposal of
klasifikasinya dan peruntukannya yang tepat accordance with the contractual terms, akun "Tambahan Modal Disetor" pada laporan business of entities under common control, if
berdasarkan persyaratan kontraktual, kondisi economic circumstances and pertinent posisi keuangan konsolidasian. any, with its carrying amount is recognized as
ekonomi dan kondisi terkait lainnya yang ada conditions as at the acquisition date. This part of "Additional Paid-in Capital" in the
pada tanggal akuisisi. Hal ini termasuk includes the separation of embedded consolidated statements of financial position.
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 d. Transaksi dengan Pihak Berelasi d. Transactions with Related Parties
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 Grup melakukan transaksi dengan pihak-pihak The Group has transactions with their related
kembali kepemilikan atas ekuitas yang dimiliki acquiree is remeasured to fair value at the berelasi sebagaimana didefinisikan dalam parties as defined under PSAK No. 224,
sebelumnya pada pihak yang diakuisisi acquisition date through profit or loss. PSAK No. 224, “Pengungkapan Pihak-pihak “Related Party Disclosures”. The significant
sebelumnya berdasarkan nilai wajar pada Berelasi”. Transaksi dan saldo yang signifikan transactions and balances are disclosed in
tanggal akuisisi dan mengakui keuntungan diungkapkan dalam Catatan 8. Note 8.
atau kerugian yang terjadi dalam laba rugi.
Transaksi dilakukan berdasarkan persyaratan The transactions are made based on terms
Imbalan kontinjensi yang akan dibayarkan Any contingent consideration to be transferred yang disetujui oleh para pihak. Persyaratan agreed by the parties. Such terms may not be
oleh pihak pengakuisisi diakui pada nilai wajar by the acquirer will be recognized at fair value tersebut mungkin tidak sama dengan the same as those of the transactions between
pada tanggal akuisisi. Perubahan nilai wajar at the acquisition date. Subsequent changes persyaratan transaksi dengan pihak-pihak unrelated parties.
atas imbalan kontinjensi setelah tanggal to the fair value of the contingent consideration yang tidak berelasi.
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. Seluruh transaksi dan saldo dengan pihak- All significant transaction and balances with
rugi atau sebagai penghasilan komprehensif 109 either in profit or loss or as other pihak berelasi yang signifikan diungkapkan related parties are disclosed in the notes to the
lain sesuai dengan PSAK No. 109. Imbalan comprehensive income. Other contingent dalam catatan atas laporan keuangan consolidated financial statements.
kontinjensi lain yang tidak termasuk dalam consideration that is not within the scope of konsolidasian.
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. e. Kas dan Setara Kas e. Cash and Cash Equivalents
Pada tanggal akuisisi, goodwill awalnya diukur At acquisition date, goodwill is initially Kas dan setara kas terdiri dari kas dan bank Cash and cash equivalents consist of cash on
pada harga perolehan yang merupakan selisih measured at cost being the excess of the dan deposito berjangka dengan jangka waktu hand and in banks, and short-term time
lebih nilai agregat dari imbalan yang dialihkan aggregate of the consideration transferred and tiga bulan atau kurang sejak tanggal deposits with original maturities of three
dan jumlah setiap KNP atas selisih jumlah dari the amount recognized for NCI over the net penempatan, yang tidak digunakan sebagai months or less at the time of placement which
aset teridentifikasi yang diperoleh dan liabilitas identifiable assets acquired and liabilities jaminan untuk pinjaman atau tidak dibatasi are not pledged as collateral for loans or not
yang diambil alih. Jika imbalan tersebut lebih assumed. If this consideration is lower than penggunaannya. restricted as to use.
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 22
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2025 Management Business Company Corporate Sustainability
170 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 171
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
f. Rekening Bank dan Deposito Berjangka f. Restricted Cash in Banks and Time Deposit h. Transaksi dan Saldo dalam Mata Uang h. Foreign Currency Transactions and
yang dibatasi Penggunaannya Asing (lanjutan) Balances (continued)
Deposito berjangka dan investasi jangka Time deposits and other short-term
pendek lainnya dengan jangka waktu tiga investments with a maturity date of three Transaksi Grup, kecuali MPE, EPE, MCG, Transactions of the Group, except MPE, EPE,
bulan atau kurang sejak tanggal penempatan months or less at the time of placement which ELB, MRPR, MSBT, dan MGSu yang MCG, ELB, MRPR, MSBT, and MGSu,
yang tidak digunakan sebagai jaminan atau are not used as collateral or are not restricted melibatkan mata uang asing dicatat dalam involving foreign currencies are recorded in
dibatasi penggunaannya, diklasifikasikan as to use, are classified as “Cash akun dalam mata uang Rupiah dengan the accounts in Rupiah amounts using the
sebagai “Setara Kas”. Equivalents”. menggunakan kurs yang berlaku pada saat rates of exchange prevailing at the time the
terjadinya transaksi. Pada tanggal laporan transactions occur. At the consolidated
Deposito dan rekening bank yang dibatasi Restricted time deposits and cash in banks posisi keuangan konsolidasian, semua aset statement of financial position date, all
penggunaannya, dimana porsi yang akan which will be used to pay currently maturing dan kewajiban moneter dalam mata uang monetary assets and liabilities denominated in
digunakan untuk membayar utang yang jatuh obligations is presented under current assets. asing, yang sebagian besar dalam Dolar AS, foreign currencies and US Dollar, are adjusted
tempo dalam satu tahun disajikan sebagai Other bank accounts and time deposits which disesuaikan untuk mencerminkan kurs yang to reflect the rate of exchange prevailing at
aset lancar. Rekening bank lainnya dan are pledged or restricted in use are presented berlaku pada tanggal tersebut dan laba atau such date, and the resulting gains or losses
deposito berjangka yang dipakai sebagai under non-current assets. rugi yang terjadi dikreditkan atau dibebankan are credited or charged to current operations.
agunan atau dibatasi penggunaannya pada operasi tahun berjalan.
disajikan sebagai aset tidak lancar.
Transaksi MPE, EPE, MCG, ELB, MRPR, Transactions of MPE, EPE, MCG, ELB,
g. Aset Eksplorasi dan Evaluasi g. Exploration and Evaluation Assets 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
Aset eksplorasi dan evaluasi merupakan Exploration and evaluation assets represent berlaku pada tanggal transaksi. of exchange in effect on the date of the
akumulasi biaya yang berkaitan dengan the accumulated costs relating to general transactions.
penyelidikan dan administrasi umum, investigation and administration, geological
pengeluaran geologi dan geofisika, survei and geophysical expenditures, topographic Keuntungan dan kerugian selisih kurs dari Foreign exchange gains and losses from the
topografi, studi lingkungan dan biaya lainnya survey, environmental study and other costs proses pengukuran kembali diakui dalam re-measurement process are recognized in
yang terjadi untuk mengembangkan area incurred to develop an area before the laporan laba rugi. profit or loss.
sebelum dimulainya operasi komersial. commencement of the commercial operations.
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,
h. Transaksi dan Saldo dalam Mata Uang h. Foreign Currency Transactions and ELB, MRPR, MSBT, dan MGSu dijabarkan ke MRPR, MSBT, and MGSu are translated into
Asing Balances 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,
Grup menerapkan PSAK No. 221, "Pengaruh The Group applied PSAK No. 221, “The Effect keuangan, akun ekuitas dijabarkan dengan equity accounts are translated using historical
Perubahan Kurs Valuta Asing", yang of Changes in Foreign Exchange Rates”, menggunakan kurs historis, sementara rates of exchange, while revenues and
menjelaskan bagaimana cara memasukkan which describes how to include foreign pendapatan dan beban dan arus kas expenses and cash flows are translated at the
transaksi mata uang asing dan operasi luar currency transactions and foreign operations dijabarkan dengan kurs rata-rata untuk average exchange rates for the period. The
negeri dalam laporan keuangan entitas dan in the financial statements of an entity and periode tersebut. Selisih kurs yang timbul resulting foreign exchange differences are
mentranslasikan laporan keuangan ke dalam translate financial statements into a dikreditkan atau dibebankan pada akun credited or charged to the account “Difference
suatu mata uang penyajian. Grup presentation currency. The Group consider the "Selisih Kurs Penjabaran Mata Uang Asing", in Foreign Currency Translation”, under the
mempertimbangkan indikator utama dan primary indicators and other indicators in pada bagian Ekuitas dalam laporan posisi Equity section of the consolidated statement of
indikator lainnya dalam menentukan mata determining their functional currency. If keuangan konsolidasian. financial position.
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 Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the rates
untuk menentukan mata uang fungsional yang that most faithfully represents the economic nilai tukar yang digunakan adalah sebagai of exchange applied were as follows:
paling tepat mewakili dampak ekonomi dari effects of the underlying transactions, events berikut:
transaksi, kejadian dan kondisi yang and conditions.
mendasarinya. 2025 2024
Laporan keuangan konsolidasian disajikan The consolidated financial statements are Dolar Amerika Serikat 16.782/AS$ 16.162/AS$ United States Dollar
dalam mata uang Rupiah, yang merupakan presented in Rupiah, which is the functional Dolar Singapura 13.069/S$ 11.919/S$ Singapore Dollar
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 Euro 19.753/€ 16.851/€ Euro
MGSu yang mata uang fungsionalnya adalah functional currency is the United States (US) Pound Sterling 22.666/GBP 20.333/GBP Pound Sterling
Dollar Amerika Serikat (AS). Dollar.
Yen 108/JPY 102/JPY Yen
23 24
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2025 Management Business Company Corporate Sustainability
172 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 173
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
i. Pengakuan Pendapatan dan Beban i. Revenue and Expense Recognition i. Pengakuan Pendapatan dan Beban i. Revenue and Expense Recognition
(lanjutan) (continued)
Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers is
diakui pada saat pengendalian jasa dialihkan recognized when control of the services is Saldo kontrak Contract balances
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 • Aset kontrak • Contract assets
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 Aset kontrak adalah hak untuk mendapatkan A contract asset is the right to consideration
dalam pengaturan pendapatannya karena that it is the principal in its revenue imbalan dalam pertukaran jasa yang in exchange for services transferred to the
Grup mengendalikan barang atau jasa arrangements. dialihkan kepada pelanggan. Jika Grup customer. If the Group performs by
sebelum mengalihkannya ke pelanggan. melaksanakan transfer jasa kepada transferring services to a customer before
pelanggan sebelum pelanggan membayar the customer pays consideration or before
Pendapatan dari usaha kelistrikan Revenue from power business imbalan atau sebelum pembayaran jatuh payment is due, a contract asset is
tempo, aset kontrak diakui untuk imbalan recognized for the earned consideration that
Grup bergerak dalam penyediaan jasa The Group is engaged in providing operation yang diperoleh yang bersyarat. is conditional.
operasi dan pemeliharaan terutama kepada and maintenance services mainly to PT
PT Perusahaan Listrik Negara (Persero) dan Perusahaan Listrik Negara (Persero) and its • Piutang usaha • Trade receivables
entitas anak tertentu PLN. certain subsidiaries.
Piutang merupakan hak Grup atas sejumlah A receivables represents the Group’s right to
Akuntansi untuk pengakuan pendapatan atas Accounting for revenue recognition of the imbalan tidak bersyarat (yaitu, hanya an amount of consideration that is
perjanjian penyediaan jasa listrik kepada PLN power purchase agreement with PLN for berlalunya waktu yang diperlukan sebelum unconditional (i.e., only the passage of time
atas komponen investasi diperlakukan sebagai investment component are accounted as lease pembayaran imbalan jatuh tempo). is required before payment of the
transaksi sewa atau konsesi jasa tergantung or service concession depends on the features consideration is due).
kepada fitur-fitur yang ada di dalam perjanjian on the power purchase agreements.
penyediaan jasa listrik. • Liabilitas kontrak • Contract liabilities
Sewa Leases Jika pelanggan membayar imbalan sebelum If a customer pays consideration before the
Pendapatan dari penyerahan tenaga listrik Revenue from delivery of electric power to the Grup mentransfer barang kepada Group transfers goods to the customer, a
kepada pelanggan untuk komponen investasi customer to the extent of the investment pelanggan, liabilitas kontrak diakui pada saat contract liability is recognized when the
dari transaksi pendapatan diperhitungkan component of the revenue transaction is pembayaran dilakukan atau pembayaran payment is made or the payment is due
sebagai transaksi sewa pembiayaan dimana accounted for as finance lease transaction jatuh tempo (mana yang lebih awal). (whichever is earlier). Contract liabilities are
Grup adalah lessor dan PT PLN (Persero) dan whereby the Company is the lessor and PT Liabilitas kontrak diakui sebagai pendapatan recognized as revenue when the Group
PT PLN Batam adalah lessee. Pendapatan PLN (Persero) and PT PLN Batam is the pada saat Grup melakukan kewajiban performs under the contract.
yang berkaitan dengan komponen lain dari lessee. Revenue related to the other pelaksanaan berdasarkan kontrak.
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 Beban Expenses
operasi dan perawatan pembangkit listrik operation and maintenance costs of the power
diakui sebagai pendapatan penjualan pada plant are recognized as sales revenue upon Beban diakui pada saat terjadinya (metode Expenses are recognized when incurred
saat penyerahan tenaga listrik ke pelanggan. delivery of electric power to customer. akrual). (accrual method).
j. Instrumen Keuangan j. Financial Instruments
Jasa Konsesi Service concession
Instrumen keuangan adalah setiap kontrak A financial instrument is any contract that
Pendapatan konstruksi dari konsesi jasa Construction revenue from service concession yang memberikan aset keuangan bagi satu gives rise to a financial asset of one entity and
diakui sepanjang waktu konstruksi. Untuk is recognized over the construction time. For entitas dan liabilitas keuangan atau ekuitas a financial liability or equity instrument of
kontrak yang memenuhi kriteria pengakuan contracts that meet the over time revenue bagi entitas lain. another entity.
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 26
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2025 Management Business Company Corporate Sustainability
174 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 175
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued) j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan Financial Assets Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Pengakuan dan pengukuran awal Initial recognition and measurement Untuk tujuan pengukuran selanjutnya, aset For purposes of subsequent measurement,
keuangan diklasifikasikan dalam empat financial assets are classified in four
Aset keuangan diklasifikasikan, pada saat Financial assets are classified, at initial kategori: categories:
pengakuan awal, yang selanjutnya diukur recognition, as subsequently measured at
pada biaya perolehan diamortisasi, nilai wajar amortized cost, fair value through other • Aset keuangan pada biaya perolehan • Financial assets at amortized cost (debt
melalui penghasilan komprehensif lain (“OCI”), comprehensive income (“OCI”), and fair value diamortisasi (instrumen utang); instruments);
dan nilai wajar melalui laba rugi. through profit or loss. • 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
Klasifikasi aset keuangan pada pengakuan The classification of financial assets at initial kerugian kumulatif setelah penghentian losses (debt instrument);
awal tergantung pada karakteristik arus kas recognition depends on the financial asset’s pengakuan (instrumen utang); • Financial assets at fair value through OCI
kontraktual aset keuangan dan model bisnis contractual cash flow characteristics and the • Aset keuangan pada nilai wajar melalui with no recycling of cumulative gains and
Grup untuk mengelolanya. Dengan Group’s business model for managing them. OCI dengan daur ulang keuntungan dan losses upon derecognition (equity
pengecualian piutang usaha yang tidak With the exception of trade receivables that do kerugian kumulatif (instrumen utang); instruments);
mengandung komponen pembiayaan yang not contain a significant financing component • Aset keuangan pada nilai wajar melalui • Fair value through profit or loss (FVTPL).
signifikan atau yang mana Grup telah or for which the Group has applied the laba rugi.
menerapkan panduan praktisnya, Grup pada practical expedient, the Group initially
awalnya mengukur aset keuangan pada nilai measures a financial asset at its fair value Aset keuangan pada biaya perolehan Financial assets at amortized cost (debt
wajarnya ditambah, dalam hal aset keuangan plus, in the case of a financial asset not at fair diamortisasi (instrumen utang) instruments)
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 Grup mengukur aset keuangan pada biaya The Group measures financial assets at
mengandung komponen pembiayaan yang significant financing component or for which perolehan diamortisasi jika kedua kondisi amortized cost if both of the following
signifikan atau yang mana Grup telah the Group has applied the practical expedient berikut ini terpenuhi: conditions are met:
menerapkan panduan praktis diukur pada are measured at the transaction price
harga transaksi yang ditentukan berdasarkan determined under PSAK 115: Revenue from i. Aset keuangan tersebut dikelola dalam i. The financial asset is held within a
PSAK 115: Pendapatan dari kontrak dengan Contracts with Customers. model bisnis yang bertujuan untuk business model with the objective to hold
pelanggan. memiliki aset keuangan dalam rangka financial assets in order to collect
memperoleh arus kas kontraktual, dan contractual cash flows, and
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 ii. Persyaratan kontraktual dari aset ii. The contractual terms of the financial
nilai wajar melalui OCI, aset keuangan through OCI, it needs to give rise to cash flows keuangan yang pada tanggal tertentu asset give rise on specified dates to cash
tersebut perlu menghasilkan arus kas yang that are ‘solely payments of principal and menimbulkan arus kas yang merupakan flows that are SPPI on the principal
‘semata-mata dari pembayaran pokok dan interest (“SPPI”)’ on the principal amount SPPI dari jumlah pokok terutang. amount outstanding.
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 Aset keuangan pada biaya perolehan Financial assets at amortized cost are
keuangan dengan arus kas yang bukan SPPI flows that are not SPPI are classified and diamortisasi selanjutnya diukur dengan subsequently measured using the effective
diklasifikasikan dan diukur pada nilai wajar measured at fair value through profit or loss, menggunakan suku bunga efektif (“SBE”) dan interest rate (“EIR”) method and are subject to
melalui laba rugi, terlepas dari model irrespective of the business model. menjadi subjek penurunan nilai. Keuntungan impairment. Gains and losses are recognized
bisnisnya. 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.
Aset keuangan yang diklasifikasikan dan Financial assets classified and measured at dimodifikasi atau mengalami penurunan nilai.
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 Aset keuangan Grup yang diukur pada biaya The Group’s financial assets at amortized cost
adalah memiliki aset keuangan untuk assets in order to collect contractual cash perolehan diamortisasi termasuk kas dan includes cash and cash equivalents, trade
memperoleh arus kas kontraktual sementara flows while financial assets classified and setara kas, piutang usaha, piutang sewa receivables, finance lease receivables, other
aset keuangan yang diklasifikasikan dan measured at fair value through OCI are held pembiayaan, piutang lain-lain, rekening bank receivables, restricted cash in banks and time
diukur pada nilai wajar melalui OCI dikelola within a business model with the objective to dan deposito berjangka yang dibatasi deposits and concession financial assets.
dalam model bisnis yang tujuannya adalah collect contractual cash flows and sell the penggunaannya dan aset keuangan konsesi.
untuk memperoleh arus kas kontraktual dan financial assets.
menjual aset keuangan. Aset keuangan yang ditetapkan pada nilai Financial assets designated at fair value
wajar melalui OCI (instrumen ekuitas) through OCI (equity instruments)
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 Setelah pengakuan awal, Grup dapat Upon initial recognition, the Group can elect to
kurun waktu yang ditetapkan oleh peraturan established by regulation or convention in the membuat pilihan yang tidak dapat dibatalkan classify irrevocably its equity investments as
atau kebiasaan yang berlaku di pasar market place (regular way trades) are untuk mengklasifikasikan investasi ekuitasnya equity instruments designated at fair value
(pembelian yang lazim/reguler) diakui pada recognized on the trade date, i.e., the date that sebagai instrumen ekuitas yang ditetapkan through OCI when they meet the definition of
tanggal perdagangan, yaitu tanggal Grup the Group commits to purchase or sell the pada nilai wajar melalui OCI jika definisi equity under PSAK 232: Financial Instruments:
berkomitmen untuk membeli atau menjual aset assets. ekuitas berdasarkan PSAK 232: Instrumen Presentation and are not held for trading. The
tersebut. Keuangan: Penyajian dipenuhi dan tidak classification is determined on an instrument-
dimiliki untuk diperdagangkan. Klasifikasi by-instrument basis.
Model bisnis Grup untuk mengelola aset The Group’s business model for managing ditentukan berdasarkan instrumen per
keuangan mengacu pada bagaimana Grup financial assets refers to how it manages its instrumen.
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 28
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2025 Management Business Company Corporate Sustainability
176 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 177
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued) j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Pengukuran selanjutnya (lanjutan) Subsequent measurement (continued)
Aset keuangan yang ditetapkan pada nilai Financial assets designated at fair value Aset keuangan pada nilai wajar melalui Financial assets at fair value through profit
wajar melalui OCI (instrumen ekuitas) through OCI (equity instruments) laba rugi (lanjutan) or loss (continued)
(lanjutan) (continued)
Aset keuangan yang diukur pada nilai wajar Financial assets at fair value through profit or
Keuntungan dan kerugian dari aset keuangan Gains and losses on these financial assets are melalui laba rugi dicatat dalam laporan posisi loss are carried in the consolidated statement
ini tidak pernah didaur ulang ke laba rugi. never recycled to profit or loss. Dividends are keuangan konsolidasian pada nilai wajar of financial position at fair value with net
Dividen diakui sebagai pendapatan lain-lain recognized as other income in the statement dengan perubahan nilai wajar neto diakui changes in fair value recognized in the
dalam laporan laba rugi pada saat hak of profit or loss when the right of payment has dalam laporan laba rugi dan penghasilan consolidated statement of profit or loss and
pembayaran telah ditetapkan, kecuali jika been established, except when the Group komprehensif lain konsolidasian. other comprehensive income.
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 Kategori ini mencakup instrumen derivatif dan This category includes derivative instruments
aset keuangan, dalam hal ini, keuntungan case, such gains are recorded in OCI. Equity investasi ekuitas yang tidak diperdagangkan di that are not designated as hedging
tersebut akan dicatat di OCI. Instrumen instruments designated at fair value through mana Grup tidak membuat pilihan yang tidak instruments in hedge relationship as define in
ekuitas yang ditetapkan pada nilai wajar OCI are not subject to impairment dapat dibatalkan untuk diklasifikasikan pada PSAK 109: Financial Instruments. Group had
melalui OCI tidak tunduk pada evaluasi assessment. nilai wajar melalui OCI. Dividen atas investasi not irrevocably elected to classify at fair value
penurunan nilai. ekuitas Perusahaan tercatat juga diakui through OCI. Dividends on listed equity
sebagai pendapatan lain-lain dalam laba rugi investments are also recognized as other
Grup membuat pilihan yang tidak dapat The Group elected to classify irrevocably its pada saat hak pembayaran telah ditetapkan. income in the profit or loss when the right of
dibatalkan untuk mengklasifikasikan investasi non-listed equity investments under this payment has been established.
ekuitas yang tidak diperdagangkan tertentu category.
dalam kategori ini. 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
Aset keuangan pada nilai wajar melalui Financial assets at fair value through profit non-keuangan, dipisahkan dari host dan separated from the host and accounted for as
laba rugi or loss dicatat sebagai derivatif terpisah jika: a separate derivative if: the economic
karakteristik dan risiko ekonomi tidak terkait characteristics and risks are not closely related
Aset keuangan pada nilai wajar melalui laba Financial assets at fair value through profit or erat dengan kontrak utama; instrumen terpisah to the host; a separate instrument with the
rugi termasuk aset keuangan yang dimiliki loss include financial assets held for trading, dengan persyaratan yang sama seperti same terms as the embedded derivative would
untuk diperdagangkan, aset keuangan yang financial assets designated upon initial derivatif melekat akan memenuhi definisi meet the definition of a derivative; and the
ditetapkan pada pengakuan awal pada nilai recognition at fair value through profit or loss, derivatif; dan kontrak hibrida tidak diukur pada hybrid contract is not measured at fair value
wajar melalui laba rugi, atau aset keuangan or financial assets mandatorily required to be nilai wajar melalui laba rugi. through profit or loss.
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 Derivatif melekat diukur pada nilai wajar Embedded derivatives are measured at fair
diperdagangkan jika mereka diperoleh untuk acquired for the purpose of selling or dengan perubahan nilai wajar diakui dalam value with changes in fair value recognized in
tujuan dijual atau dibeli kembali dalam waktu repurchasing in the near term. Derivatives, laba rugi. Penilaian ulang hanya terjadi jika profit or loss. Reassessment only occurs if
dekat. Derivatif, termasuk derivatif melekat including separated embedded derivatives, are terdapat perubahan dalam persyaratan there is either a change in the terms of the
yang dipisahkan, juga diklasifikasikan sebagai also classified as held for trading unless they kontrak yang secara signifikan mengubah arus contract that significantly modifies the cash
dimiliki untuk diperdagangkan kecuali jika are designated as effective hedging kas yang seharusnya diperlukan atau flows that would otherwise be required or a
ditetapkan sebagai instrumen lindung nilai instruments. reklasifikasi aset keuangan keluar dari reclassification of a financial asset out of the
yang efektif. kategori nilai wajar melalui laba rugi. fair value through profit or loss category.
Aset keuangan dengan arus kas yang tidak Financial assets with cash flows that are not Derivatif yang melekat dalam kontrak hibrida A derivative embedded within a hybrid contract
semata-mata pembayaran pokok dan bunga solely payments of principal and interest are yang mengandung aset keuangan utama tidak containing a financial asset host is not
diklasifikasikan dan diukur pada nilai wajar classified and measured at fair value through dicatat secara terpisah. Aset keuangan utama accounted for separately. The financial asset
melalui laba rugi, terlepas dari model profit or loss, irrespective of the business bersama dengan derivatif melekat harus host together with the embedded derivative is
bisnisnya. Terlepas dari kriteria untuk model. Notwithstanding the criteria for debt diklasifikasikan secara keseluruhan sebagai required to be classified in its entirety as a
instrumen utang yang akan diklasifikasikan instruments to be classified at amortized cost aset keuangan yang diukur pada nilai wajar financial asset at fair value through profit or
pada biaya perolehan diamortisasi atau pada or at fair value through OCI, as described melalui laba rugi. loss.
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 30
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2025 Management Business Company Corporate Sustainability
178 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 179
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued) j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued) Aset Keuangan (lanjutan) Financial Assets (continued)
Penghentian pengakuan Derecognition Penurunan nilai Impairment
Penghentian pengakuan atas suatu aset A financial asset, or where applicable, a part of Grup mengakui penyisihan untuk kerugian The Group recognizes an allowance for
keuangan, atau, bila dapat diterapkan untuk a financial asset or part of a group of similar kredit ekspektasian ("ECL") untuk seluruh expected credit losses (“ECL”) for all debt
bagian dari aset keuangan atau bagian dari financial assets, is derecognized when: instrumen utang yang tidak dimiliki pada nilai instruments not held at fair value through profit
kelompok aset keuangan serupa, terjadi wajar melalui laba rugi. ECL didasarkan pada or loss. ECL are based on the difference
apabila: selisih antara arus kas kontraktual yang jatuh between the contractual cash flows due in
i. Hak kontraktual atas arus kas yang i. The contractual rights to receive the cash tempo sesuai dengan kontrak dan seluruh accordance with the contract and all the cash
berasal dari aset keuangan tersebut flows from these assets have ceased to arus kas yang diperkirakan akan diterima flows that the Group expects to receive,
berakhir atau aset telah dialihkan; exist or the assets have been transferred; 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
ii. Grup telah mengalihkan hak untuk ii. The Group has transferred its rights to dari penjualan agunan yang dimiliki atau flows from the sale of collateral held or other
menerima arus kas yang berasal dari receive cash flows from the asset or has perbaikan risiko-kredit lain yang merupakan credit enhancements that are integral to the
aset keuangan tersebut atau assumed an obligation to pay the bagian dari persyaratan kontraktual. contractual terms.
menanggung kewajiban untuk membayar received cash flows in full without ECL diakui dalam dua tahap. Untuk eksposur ECLs are recognized in two stages. For credit
arus kas yang diterima tersebut tanpa material delay to a third party under a kredit yang belum ada peningkatan risiko exposures for which there has not been a
penundaan yang signifikan terhadap “pass-through” arrangement, and either kredit yang signifikan sejak pengakuan awal, significant increase in credit risk since initial
pihak ketiga melalui suatu kesepakatan (a) the Group has transferred ECL dilakukan untuk kerugian kredit yang recognition, ECL are provided for credit losses
penyerahan dan (a) Grup secara substantially all the risk and rewards of diakibatkan oleh peristiwa gagal bayar yang that result from default events that are
substansial mengalihkan seluruh risiko the financial assets, or (b) the Group has mungkin terjadi dalam 12 bulan ke depan possible within the next 12-months (a 12-
dan manfaat atas kepemilikan aset neither transferred nor retained (ECL 12 bulan). Untuk eksposur kredit yang month ECL). For those credit exposures for
keuangan tersebut, atau (b) Grup secara substantially all the risk and rewards of telah terjadi peningkatan risiko kredit yang which there has been a significant increase in
substansial tidak mengalihkan maupun the financial assets, but has transferred signifikan sejak pengakuan awal, penyisihan credit risk since initial recognition, a loss
tidak mempertahankan seluruh risiko dan control of the financial asset. kerugian dilakukan untuk kerugian kredit yang allowance is required for credit losses
manfaat atas kepemilikan aset keuangan diperkirakan selama sisa umur eksposur, expected over the remaining life of the
tersebut, namun telah mengalihkan terlepas dari waktu gagal bayar (ECL exposure, irrespective of the timing of the
pengendalian atas aset keuangan sepanjang umur). default (a lifetime ECL).
tersebut.
Ketika Grup telah mengalihkan haknya untuk When the Group has transferred its rights to Untuk piutang usaha, piutang lainnya dan aset For trade and other receivables and other
menerima arus kas dari aset atau telah receive cash flows from an asset or has keuangan lainnya yang diukur pada biaya financial assets measured at amortized costs,
menandatangani perjanjian pass-through, entered into a pass-through arrangement, it perolehan diamortisasi, Grup menerapkan the Group applies a simplified approach in
Grup mengevaluasi apakah, dan sejauh mana, evaluates if, and to what extent, it has retained pendekatan yang disederhanakan dalam calculating ECL. Therefore, the Group does
telah mempertahankan risiko dan manfaat the risks and rewards of ownership. When it menghitung ECL. Oleh karena itu, Grup tidak not track changes in credit risk, but instead
kepemilikan. Ketika Grup tidak mengalihkan has neither transferred nor retained menelusuri perubahan dalam risiko kredit, recognizes a loss allowance based on lifetime
atau mempertahankan secara substansial substantially all of the risks and rewards of the tetapi mengakui penyisihan kerugian ECL at each reporting date, adjusted for
seluruh risiko dan manfaat dari aset, atau asset, nor transferred control of the asset, the berdasarkan ECL sepanjang umur pada setiap forward-looking factors specific to the debtors
mengalihkan pengendalian atas aset, Grup Group continues to recognize the transferred tanggal pelaporan, disesuaikan dengan faktor- and the economic environment.
terus mengakui aset yang dialihkan tersebut asset to the extent of its continuing faktor perkiraan masa depan yang spesifik
sejauh keterlibatannya secara berkelanjutan. involvement. In that case, the Group also bagi debitur dan lingkungan ekonomi.
Dalam kasus tersebut, Grup juga mengakui recognizes an associated liability. The Grup menganggap aset keuangan gagal bayar The Group considers a financial asset in
liabilitas terkait. Aset alihan dan liabilitas transferred asset and the associated liability ketika pembayaran kontraktual telah lewat 90 default when contractual payments are 90
terkait diukur atas dasar yang mencerminkan are measured on a basis that reflects the hari. Namun, dalam kasus tertentu, Grup juga days past due. However, in certain cases, the
hak dan kewajiban yang dimiliki Grup. rights and obligations that the Group has dapat mempertimbangkan aset keuangan Group may also consider a financial asset to
retained. mengalami gagal bayar ketika informasi be in default when internal or external
Keterlibatan berkelanjutan yang berbentuk Continuing involvement that takes the form of internal atau eksternal menunjukkan bahwa information indicates that the Group is unlikely
pemberian jaminan atas aset alihan diukur a guarantee over the transferred asset is Grup tidak mungkin menerima jumlah to receive the outstanding contractual amounts
sebesar jumlah yang lebih rendah antara measured at the lower of the original carrying kontraktual yang terutang secara penuh in full before taking into account any credit
jumlah tercatat aset alihan dan jumlah amount of the asset and the maximum amount sebelum memperhitungkan setiap perbaikan enhancements held by the Group. A financial
maksimal imbalan yang mungkin harus of consideration received that the Group could risiko-kredit yang dimiliki oleh Grup. Aset asset is written off when there is no
dibayar kembali oleh Grup. be required to repay. keuangan dihapuskan jika tidak ada reasonable expectation of recovering the
ekspektasi yang wajar untuk memulihkan arus contractual cash flows.
kas kontraktual.
31 32
Page 92
2025 Management Business Company Corporate Sustainability
180 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 181
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued) j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan Financial Liabilities Liabilitas Keuangan (lanjutan) Financial Liabilities (continued)
Pengakuan dan pengukuran awal Initial recognition and measurement
Liabilitas keuangan yang diukur pada nilai Financial liabilities at fair value through profit
Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified at initial wajar melalui laba rugi or loss
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 Liabilitas keuangan yang diukur pada nilai Financial liabilities at fair value through profit
lainnya. Grup menetapkan klasifikasi atas as derivatives designated as hedging wajar melalui laba rugi termasuk liabilitas or loss include financial liabilities held for
liabilitas keuangan pada saat pengakuan awal. instruments in an effective hedge, as keuangan yang dimiliki untuk diperdagangkan trading and financial liabilities designated upon
appropriate The Group . dan liabilitas keuangan yang ditetapkan pada initial recognition as at fair value through profit
pengakuan awal sebagai nilai wajar melalui or loss.
Liabilitas keuangan pada awalnya diukur pada Financial liabilities are recognized initially at laba rugi.
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 Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as held for
diatribusikan secara langsung. transaction costs. 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
Liabilitas keuangan Grup meliputi utang usaha The Group’s financial liabilities include trade dekat. Kategori ini juga mencakup instrumen also includes derivative financial instruments
dan utang lain-lain, beban akrual, utang and other payables, accrued expenses, due to keuangan derivatif yang dimasukkan oleh entered into by the Group that are not
kepada pihak berelasi, pinjaman jangka related parties, long-term debts, other long- Grup yang tidak ditujukan sebagai instrumen designated as hedging instruments in hedge
panjang, pinjaman jangka panjang lainnya, term debt, lease liabilities and short-term bank lindung nilai dalam hubungan lindung nilai relationships as defined by PSAK 109.
liabilitas sewa dan utang bank jangka pendek. loan. sebagaimana didefinisikan dalam PSAK 109. Separated embedded derivatives are also
Derivatif melekat yang dipisahkan juga classified as held for trading unless they are
Pengakuan setelah pengakuan awal Subsequent measurement diklasifikasikan sebagai kelompok designated as effective hedging instruments.
diperdagangkan kecuali ditetapkan sebagai
Pengukuran selanjutnya dari liabilitas The measurement of financial liabilities instrumen lindung nilai yang efektif.
keuangan ditentukan oleh klasifikasinya depends on their classification as described
sebagai berikut: below: 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.
Utang dan pinjaman Loans and borrowings
Liabilitas keuangan yang ditetapkan pada Financial liabilities designated upon initial
(i) Utang dan pinjaman jangka panjang (i) Long-term interest-bearing loans pengakuan awal pada nilai wajar melalui laba recognition at fair value through profit or loss
yang dikenakan bunga borrowings rugi ditetapkan pada tanggal awal pengakuan, are designated at the initial date of recognition,
Ini adalah kategori yang paling relevan This is the category most relevant to the dan hanya jika kriteria dalam PSAK 109 and only if the criteria in PSAK 109 are
dengan Grup. Setelah pengakuan awal, Group. After initial recognition, long-term terpenuhi. Instrumen derivatif Grup satisfied. The Group derivative financial
utang dan pinjaman berbunga jangka interest-bearing loans and borrowings diklasifikasikan dalam kategori ini. instruments are classified under this category.
panjang diukur dengan biaya perolehan are measured at amortized acquisition
diamortisasi dengan menggunakan costs using EIR method. Gains and Penghentian pengakuan Derecognition
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 Liabilitas keuangan dihentikan pengakuannya A financial liability is derecognized when the
dihentikan pengakuannya dan juga well as through the EIR amortization ketika liabilitas yang ditetapkan dalam kontrak the obligation specified in the contract is
melalui proses amortisasi SBE. process. dihentikan atau dibatalkan atau kadaluwarsa. discharged or cancelled or has expired.
Biaya perolehan diamortisasi dihitung Amortized cost is calculated by taking Ketika kewajiban keuangan yang ada When an existing financial liability is replaced
dengan mempertimbangkan setiap into account any discount or premium on digantikan oleh yang lain dari pemberi by another from the same lender on
diskonto atau premium atas perolehan acquisition and fee or costs that are an pinjaman yang sama dengan persyaratan substantially different terms, or the terms of an
dan komisi atau biaya yang merupakan integral part of the EIR. The EIR yang secara substansial berbeda, atau existing liability are substantially modified,
bagian tidak terpisahkan dari SBE. amortization is included in finance costs persyaratan dari kewajiban yang ada secara such an exchange or modification is treated as
Amortisasi SBE dicatat sebagai beban in the profit or loss. substansial dimodifikasi, pertukaran atau the derecognition of the original liability and
keuangan pada laba rugi. modifikasi tersebut diperlakukan sebagai the recognition of a new liability. The
penghentian pengakuan kewajiban awal dan difference in the respective carrying amounts
Kategori ini umumnya berlaku untuk This category generally applies to pengakuan kewajiban baru. Selisih nilai is recognized in the consolidated statement of
utang dan pinjaman berbunga. Untuk interest-bearing loans and borrowings. tercatat masing-masing diakui pada laporan profit or loss and other comprehensive
informasi lebih lanjut, lihat Catatan 25 For more information, refer to Note 25 laba rugi dan penghasilan komprehensif lain income.
dan 26. and 26. konsolidasian.
(ii) Utang dan akrual (ii) Payables and accruals Saling hapus instrumen keuangan Offsetting financial instruments
Liabilitas untuk utang usaha dan utang Liabilities for current trade and other Aset keuangan dan liabilitas keuangan Financial assets and liabilities are offset and
lain-lain, biaya masih harus dibayar dan payables, accrued expenses and due to disalinghapuskan dan jumlah netonya the net amount is reported in the consolidated
utang kepada pihak berelasi dinyatakan related parties are stated at carrying dilaporkan pada laporan posisi keuangan statement of financial position when there is a
sebesar jumlah tercatat (jumlah amounts (notional amounts), which konsolidasian ketika terdapat hak yang legally enforceable right to offset the
nosional), yang kurang lebih sebesar nilai approximate their fair values. berkekuatan hukum untuk melakukan saling recognized amounts and there is an intention
wajarnya. 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.
33 34
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2025 Management Business Company Corporate Sustainability
182 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 183
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued) j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan (lanjutan) Financial Liabilities (continued) Liabilitas Keuangan (lanjutan) Financial Liabilities (continued)
Instrumen Keuangan Derivatif dan Akuntansi Derivative Financial Instruments and Hedge Lindung nilai arus kas Cash flow hedge
Lindung Nilai Accounting
Lindung nilai arus kas digunakan untuk Cash flow hedge is used to hedge the
Grup menggunakan instrumen keuangan The Group uses derivative financial lindung nilai terhadap eksposur variabilitas exposure to variability in cash flows that is
derivatif seperti swap tingkat suku bunga dan instruments such as interest rate swaps and arus kas yang dapat diatribusikan pada risiko attributable to foreign currency risk or interest
swap antar mata uang untuk melakukan cross-currency swaps to hedge its foreign mata uang asing atau risiko tingkat suku rate risk associated with a recognized asset or
lindung nilai atas risiko mata uang asing dan currency risks and interest rate risks. Such bunga yang terkait dengan suatu aset atau liability.
risiko tingkat suku bunganya. Instrumen derivative financial instruments are initially liabilitas yang diakui.
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 Bagian efektif atas laba atau rugi instrumen The effective portion of the gain or loss on the
kontrak derivatif dimulai dan selanjutnya subsequently remeasured at fair value. lindung nilai atas arus kas diakui langsung cash flow hedging instrument is recognized
diukur kembali pada nilai wajar. Derivatif Derivatives are carried as financial assets pada pendapatan komprehensif lain, directly in other comprehensive income, while
dicatat sebagai aset keuangan saat nilai when the fair value is positive and as financial sementara bagian yang tidak efektif diakui any ineffective portion is recognized
wajarnya positif dan sebagai liabilitas liabilities when the fair value is negative. segera dalam laporan laba rugi. immediately in profit or loss.
keuangan saat nilai wajarnya negatif. Grup mempunyai kontrak swap tingkat suku The Group entered into interest rate swap and
Grup menerapkan akuntansi lindung nilai atas The Group applies hedge accounting to bunga dan swap antar mata uang yang cross-currency swap contracts that are used to
transaksi lindung nilai yang memenuhi kriteria hedging transactions that meet the criteria for digunakan sebagai lindung nilai atas eksposur hedge for the exposure to changes in cash
akuntansi lindung nilai. hedge accounting. perubahan dalam arus kas sehubungan flows due to changes in foreign exchange
dengan perubahan nilai tukar mata uang rates.
Untuk tujuan akuntansi lindung nilai, lindung For the purpose of hedge accounting, hedges asing.
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 Grup merancang hanya elemen spot dari The Group designates only the spot element
lindung nilai atas investasi neto dalam foreign operation. kontrak forward dan swap antar mata uang of the forward and cross-currency swap
kegiatan usaha luar negeri. 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
Pada awal hubungan lindung nilai, Grup At the inception of a hedge relationship, the mata uang, serta komponen nilai waktu dari contracts as well as the time value component
merancang dan mendokumentasikan Group formally designates and documents the opsi komoditas diakui dalam OCI dan of commodity options are recognised in OCI
hubungan lindung nilai yang diinginkannya hedge relationship to which it wishes to apply diakumulasikan dalam komponen terpisah dari and accumulated in a separate component of
untuk menerapkan akuntansi lindung nilai hedge accounting, the risk management ekuitas sebagai bagian dari penyesuaian nilai equity under fair value adjustment on cash
secara formal, tujuan dan strategi manajemen objective and strategy for undertaking the wajar atas instrumen lindung nilai arus kas. flow hedging instruments. Because the
risiko untuk melakukan lindung nilai. hedge. 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
Dokumentasi tersebut mencakup identifikasi The documentation includes identification of keuangan di neraca, jumlah yang terakumulasi sheet, the amount accumulated in OCI is
instrumen lindung nilai, item lindung nilai, sifat the hedging instrument the hedged item, the dalam OCI direklasifikasi ke laba rugi sebagai reclassified to profit or loss as a
risiko yang dilindungi nilai dan bagaimana nature of the risk being hedged and how the penyesuaian reklasifikasi pada periode atau reclassification adjustment in the same period
Grup akan menilai apakah hubungan lindung Group will assess whether the hedging periode yang sama di mana arus kas yang or periods during which the hedged cash flows
nilai tersebut memenuhi persyaratan relationship meets the hedge effectiveness dilindung nilai memengaruhi laba atau affect profit or loss.
efektivitas lindung nilai (termasuk analisis requirements (including the analysis of kerugian.
sumber ketidakefektifan lindung nilai. dan sources of hedge ineffectiveness and how the
bagaimana rasio lindung nilai ditentukan). hedge ratio is determined). k. Persediaan k. Inventories
Persediaan dinyatakan sebesar nilai yang Inventories are stated at the lower of cost or
Hubungan lindung nilai memenuhi syarat A hedging relationship qualifies for hedge lebih rendah antara biaya perolehan atau nilai net realizable value. Cost is determined using
untuk akuntansi lindung nilai jika memenuhi accounting if it meets all of the following realisasi neto. Biaya perolehan ditentukan the weighted average method.
semua persyaratan efektivitas berikut: effectiveness requirements: dengan metode rata-rata tertimbang.
i. terdapat 'hubungan ekonomi' antara item i. there is ‘an economic relationship’
yang dilindung nilai dan instrumen between the hedged item and the l. Aset Keuangan Konsesi l. Concession Financial Assets
lindung nilai; hedging instrument; MRPR, MCG, dan MSBT menerapkan ISAK MRPR, MCG, and MSBT apply ISAK No. 112,
ii. efek risiko kredit tidak 'mendominasi ii. the effect of credit risk does not No. 112, "Perjanjian Konsesi Jasa". ISAK No. “Service Concession Arrangements”. ISAK
perubahan nilai yang dihasilkan dari ‘dominate the value changes’ that result 112 menetapkan kriteria pengendalian untuk No. 112 sets out the control criteria for
hubungan ekonomi itu; from that economic relationship; perjanjian konsesi: concession arrangements:
iii. rasio lindung nilai dari hubungan lindung iii. the hedge ratio of the hedging
nilai adalah perbandingan` antara jumlah relationship is the comparison between • Pemberi konsesi mengendalikan atau • The grantor controls or regulates the
item yang dilindung nilai dan instrumen the quantity of hedged item and hedging meregulasi jasa apa yang harus services that the operator must provide
lindung nilai. instrument. 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.
35 36
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2025 Management Business Company Corporate Sustainability
184 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 185
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
l. Aset Keuangan Konsesi (lanjutan) l. Concession Financial Assets (continued) m. Aset Tetap (lanjutan) m. Property, Plant and Equipment (continued)
Penyusutan dihitung dengan menggunakan Depreciation is computed using the straight-
Ciri umum adalah: The common features are: metode garis lurus berdasarkan estimasi masa line method based on the estimated useful
manfaat ekonomis aset sebagai berikut: lives of the assets as follows:
• 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 Tahun/
pemerintah, atau entitas sektor swasta body, or a private sector entity to which Years
yang telah diberikan tanggung jawab the responsibility for the service has been Bangunan dan prasarana 20 Buildings and improvements
atas jasa tersebut. devolved. Mesin 15 - 25 Machinery
• Operator bertanggung jawab setidaknya • The operator is responsible for at least Peralatan panel kontrol 12 Control panel equipment
untuk sebagian pengelolaan infrastruktur some of the management of the
dan jasa terkait dan tidak hanya infrastructure and related services and Peralatan komunikasi 5 Telecommunication equipment
bertindak sebagai agen untuk does not merely act as an agent on Peralatan 4 Tools
kepentingan pemberi konsesi. behalf of the grantor. Leasehold improvements 5 Leasehold improvements
• Kontrak menerapkan harga awal yang • The contract sets the initial prices to be Perabotan, perlengkapan dan peralatan Furniture, fixtures and office
akan dikenakan oleh operator dan levied by the operator and regulates price kantor 4 equipment
mengatur perubahan harga selama revisions over the period of the service Kendaraan bermotor 4 Motor vehicles
periode perjanjian jasa. arrangement.
Jumlah tercatat aset tetap dihentikan An item of property, plant and equipment is
• Operator diwajibkan untuk menyerahkan • The operator is obliged to hand over the pengakuannya dari laporan posisi keuangan derecognized from the consolidated statement
infrastruktur kepada pemberi konsesi infrastructure to the grantor in a specified konsolidasian pada saat dilepaskan atau saat of financial position upon disposal or when no
pada akhir periode perjanjian dalam condition at the end of the period of tidak ada manfaat ekonomis masa depan yang future economic benefits are expected from its
kondisi yang telah ditentukan, dengan arrangement, for little or no incremental diharapkan dari penggunaan atau use or disposal. Any gain or loss arising on the
sedikit atau tanpa imbalan tambahan, consideration, irrespective of which party pelepasannya. Laba atau rugi yang timbul dari derecognition of the asset (calculated as the
terlepas dari pihak yang awalnya initially financed it. penghentian pengakuan aset (dihitung difference between the net disposal proceeds
membiayai infrastruktur. sebagai perbedaan antara jumlah neto hasil and the carrying amount of the asset) is
Karena Perjanjian Jual Beli Tenaga Listrik Since the Power Purchase Agreement (“PPA”) pelepasan dan jumlah tercatat dari aset) recognized to profit or loss in the year the
(“PJBTL”) oleh MRPR, MCG, dan MSBT entered by MRPR, MCG, and MSBT have dimasukkan dalam laba rugi pada tahun aset asset is derecognized.
mempunyai ciri umum perjanjian jasa dan common features of a concession tersebut dihentikan pengakuannya.
infrastruktur yang timbul dari kontrak tersebut arrangement and the infrastructure arising Nilai residu, masa manfaat dan metode The assets’ residual values, useful lives and
dikendalikan oleh pemberi konsesi, kontrak from those contracts is controlled by the penyusutan aset ditelaah dan disesuaikan method of depreciation are reviewed and
tersebut dianggap sebagai perjanjian konsesi grantor, those contracts are considered secara prospektif, pada setiap akhir tahun adjusted prospectively, if appropriate, at each
jasa. PJBTL memberikan jaminan ambil atau service concession arrangements. The PPA buku. financial year end.
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 dalam penyelesaian disajikan dalam Construction in progress is stated at cost and
aset keuangan lainnya dari pemberi konsesi. receive cash or another financial asset from “Aset Tetap” dan dinyatakan sebesar biaya presented as part of “property, plant and
Oleh karena itu, MRPR, MCG, dan MSBT the grantor. As such, MRPR, MCG, and perolehan. Akumulasi biaya perolehan untuk equipment”. The accumulated costs are
menerapkan model aset keuangan untuk MSBT applied the financial asset model for its aset dalam penyelesaian akan dipindahkan ke reclassified to the appropriate property, plant
perjanjian konsesi jasanya. service concession arrangement. 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.
m. Aset Tetap m. Property, Plant and Equipment tujuannya.
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 n. Penurunan Nilai Aset Tetap dan Aset Tak n. Impairment of Property, Plant and
tidak disusutkan, dinyatakan sebesar biaya depreciated, which are stated at cost and Berwujud Equipment and Intangible Assets
perolehan dikurangi akumulasi penyusutan notare stated at cost less accumulated
dan penurunan nilai. Biaya perolehan aset depreciation and impairment losses. Such cost Grup menilai apakah terdapat indikasi suatu The Group assesses at each reporting date
tetap termasuk biaya penggantian bagian dari includes the cost of replacing part of the aset mengalami penurunan nilai. Jika terdapat whether there is an indication that an asset
aset tetap pada saat terjadinya biaya, jika property, plant and equipment when that cost indikasi tersebut atau pada saat pengujian may be impaired. If such indication exists, the
kriteria pengakuannya terpenuhi. Demikian is incurred, if the recognition criteria are met. penurunan nilai aset diperlukan, maka Grup Group estimate the asset’s recoverable
pula, ketika pemeriksaan utama dilakukan, Likewise, when a major inspection is membuat estimasi formal total terpulihkan aset amount. Where the carrying amount of an
biaya pemeriksaan diakui sebagai nilai tercatat performed, its cost is recognized in the tersebut. Jika nilai tercatat aset lebih besar asset exceeds its recoverable amount, the
aset sebagai penggantian jika kriteria carrying amount of the property, plant and daripada total terpulihkannya, maka aset asset is considered impaired and an
pengakuan terpenuhi. Semua biaya perbaikan equipment as a replacement if the recognition tersebut mengalami penurunan nilai dan nilai impairment loss is recognized to write down
dan pemeliharaan lainnya yang tidak criteria are satisfied. All other repairs and tercatat aset diturunkan menjadi sebesar total the impaired asset to its recoverable amount.
memenuhi kriteria pengakuan diakui pada maintenance costs that do not meet the terpulihkannya.
laporan laba rugi pada saat terjadinya. recognition criteria are recognized in profit or
loss as incurred. 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.
37 38
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2025 Management Business Company Corporate Sustainability
186 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 187
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
n. Penurunan Nilai Aset Tetap dan Aset Tak n. Impairment of Property, Plant and p. Sewa p. Leases
Berwujud (lanjutan) Equipment and Intangible Assets
(continued) 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.
Kerugian penurunan nilai yang telah diakui A previously recognized impairment loss for an mengandung, sewa. Yaitu, bila kontrak That is, if the contract conveys the right to
dalam periode sebelumnya untuk aset selain asset other than goodwill is reversed only if tersebut memberikan hak untuk control the use of an identified asset for a
goodwill dipulihkan hanya jika terdapat there has been a change in the assumptions mengendalikan penggunaan aset period of time in exchange for consideration.
perubahan asumsi-asumsi yang digunakan used to determine the asset’s recoverable identifikasian selama suatu jangka waktu
untuk menentukan total terpulihkan aset amount since the last impairment loss was untuk dipertukarkan dengan imbalan.
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 Grup sebagai Penyewa The Group as Lessee
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 Grup menerapkan pendekatan pengakuan dan The Group applies a single recognition and
tidak melebihi total terpulihkannya maupun exceed its recoverable amount, nor exceed pengukuran tunggal untuk seluruh sewa, measurement approach for all leases, except
total tercatat, setelah dikurangi penyusutan, the carrying amount that would have been kecuali untuk sewa jangka pendek dan sewa for short-term leases and leases of low-value
seandainya tidak ada rugi penurunan nilai determined, net of depreciation, had no aset pendasarnya bernilai rendah. Grup assets. The Group recognizes lease liabilities
yang telah diakui untuk aset tersebut pada impairment loss been recognized for the asset mengakui liabilitas sewa untuk melakukan to make lease payments and right-of-use
tahun sebelumnya. Pembalikan rugi in prior years. Reversal of an impairment loss pembayaran sewa dan aset hak-guna yang assets representing the right to use the
penurunan nilai diakui dalam laporan laba rugi. is recognized in profit or loss. After such a mewakili hak untuk menggunakan aset underlying assets.
Setelah pembalikan tersebut, penyusutan aset reversal, the depreciation charge on the said pendasar.
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 Aset hak-guna Right-of-use assets
direvisi, dikurangi nilai sisanya, dengan dasar residual value, on a systematic basis over its Grup mengakui aset hak-guna pada tanggal The Group recognizes right-of-use assets at
yang sistematis selama sisa umur remaining useful life. permulaan sewa (yaitu pada tanggal aset the commencement date of the lease (i.e., the
manfaatnya. 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
Goodwill diuji untuk penurunan nilai setiap Goodwill is tested for impairment annually (as akumulasi penyusutan dan rugi penurunan any accumulated depreciation and impairment
tahun (per 31 Desember) dan ketika keadaan of December 31) and when circumstances nilai, dan disesuaikan untuk setiap losses, and adjusted for any remeasurement
yang mengindikasikan bahwa nilai tercatat indicate that the carrying value may be pengukuran kembali liabilitas sewa. Biaya of lease liabilities. The cost of right-of-use
mungkin mengalami penurunan nilai. impaired. Impairment is determined for perolehan aset hak-guna meliputi jumlah assets includes the amount of lease liabilities
Penurunan nilai bagi goodwill ditetapkan goodwill by assessing the recoverable amount liabilitas sewa yang diakui, biaya langsung recognized, initial direct costs incurred, and
dengan menentukan total terpulihkan dari of each CGU (or group of CGUs) to which the awal yang dikeluarkan, dan pembayaran sewa lease payments made at or before the
setiap UPK (atau kelompok UPK) dimana goodwill relates. Where the recoverable yang dilakukan pada atau sebelum tanggal commencement date less any lease incentives
goodwill terkait. Jika total terpulihkan dari UPK amount of the CGU is less than its carrying permulaan, dikurangi dengan insentif sewa received.
kurang dari total tercatatnya, rugi penurunan amount, an impairment loss is recognized. yang diterima.
nilai diakui.
Kerugian penurunan nilai yang berhubungan Impairment losses relating to goodwill cannot Aset hak-guna didepresiasi dengan metode Right-of-use assets are depreciated on a
dengan goodwill tidak dapat dibalik pada be reversed in future periods. garis lurus selama jangka waktu yang lebih straight-line basis over the shorter of the lease
periode yang akan datang. pendek antara masa sewa dan estimasi umur term and the estimated useful lives of the
manfaat aset, sebagai berikut: assets, as follows:
o. Aset Tak Berwujud o. Intangible Assets
Tahun/
Biaya perolehan proyek Tanjung Jati B The acquisition cost of Tanjung Jati B project Years
disajikan sebagai aset takberwujud dan is presented as intangible asset and is stated Tanah 1 - 29 Land
dinyatakan sebesar biaya perolehan dikurangi at cost less accumulated amortization.
akumulasi amortisasi. Amortisasi dihitung Amortization is computed using the straight- Bangunan 1-5 Buildings
dengan menggunakan metode garis lurus line method over the estimated useful life of Kendaraan 1-3 Vehicles
selama taksiran masa manfaat ekonomis aset the asset of twenty (20) years.
selama dua puluh (20) tahun. 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
Goodwill merupakan selisih neto antara harga Goodwill represents the excess of acquisiton perolehan aset hak-guna merefleksikan Grup cost reflects the exercise of a purchase option,
perolehan investasi dan bagian Grup atas nilai costs over the Group’s share of fair value of akan mengeksekusi opsi beli, maka depreciation is calculated using the estimated
wajar aset bersih entitas anak pada tanggal the acquired subsidiaries net assets at the penyusutan aset hak-guna dihitung useful life of the asset. The right-of-use assets
akuisisi. date of acquisition. 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”.
Perangkat lunak komputer dinyatakan sebesar Computer software is stated at cost less penurunan nilainya sesuai dengan PSAK No.
biaya perolehan dikurangi akumulasi accumulated amortization. Amortization is 236 “Penurunan Nilai Aset”.
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 40
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2025 Management Business Company Corporate Sustainability
188 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 189
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
p. Sewa (lanjutan) p. Leases (continued) q. Perpajakan q. Taxation
Beban pajak penghasilan terdiri dari pajak kini The income tax expense comprises current
Liabilitas sewa Lease liabilities dan pajak tangguhan. Pajak diakui dalam and deferred tax. Tax is recognized in the
Pada tanggal dimulainya sewa, Grup At the commencement date of the lease, the laporan laba rugi, kecuali jika pajak tersebut profit or loss, except to the extent that it relates
mengakui liabilitas sewa yang diukur pada Group recognizes lease liabilities measured at terkait dengan transaksi atau kejadian yang to items recognized in other comprehensive
nilai kini pembayaran sewa yang harus the present value of lease payments to be diakui di pendapatan komprehensif lain atau income or directly in equity. In this case, the
dilakukan selama masa sewa. Pembayaran made over the lease term. The lease langsung diakui ke ekuitas. Dalam hal ini, tax is also recognized in other comprehensive
sewa mencakup pembayaran tetap (termasuk payments include fixed payments (including in- pajak tersebut masing-masing diakui dalam income or directly in equity, respectively.
pembayaran tetap secara substansi) dikurangi substance fixed payments) less any lease penghasilan komprehensif lain atau ekuitas.
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 Pajak kini Current tax
dibayar di bawah jaminan nilai sisa. value guarantees. Beban pajak kini ditentukan berdasarkan laba Current tax expense is determined based on
Pembayaran sewa juga mencakup harga The lease payments also include the exercise kena pajak dalam tahun yang bersangkutan. the taxable income for the year. Tax rates
pelaksanaan dari opsi pembelian yang secara price of a purchase option reasonably certain Tarif pajak yang digunakan untuk menghitung used to compute the amount are those that
wajar pasti akan dilaksanakan oleh Grup dan to be exercised by the Group and payments of jumlah tersebut adalah yang telah berlaku have been enacted at the reporting date.
pembayaran denda untuk penghentian sewa, penalties for terminating the lease, if the lease pada tanggal pelaporan.
jika masa sewa mencerminkan Grup term reflects the Group exercising the option Aset dan liabilitas pajak kini untuk tahun Current tax assets and liabilities for the current
melaksanakan opsi untuk mengakhiri. to terminate. Variable lease payments that do berjalan dan tahun sebelumnya diukur and prior years are measured at the amounts
Pembayaran sewa variabel yang tidak not depend on an index or a rate are sebesar jumlah yang diharapkan dapat expected to be recovered from or paid to the
bergantung pada indeks atau tarif diakui recognized as expenses (unless they are direstitusi dari atau dibayarkan kepada otoritas tax authorities.
sebagai beban (kecuali terjadi untuk incurred to produce inventories) in the period perpajakan.
menghasilkan persediaan) pada periode di in which the event or condition that triggers the
mana peristiwa atau kondisi yang memicu payment occurs. Koreksi terhadap liabilitas perpajakan dicatat Amendments to taxation obligations are
terjadinya pembayaran. 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
Dalam menghitung nilai kini pembayaran In calculating the present value of lease banding sudah diputuskan. Kekurangan/ determined. The underpayment/overpayment
sewa, Grup menggunakan suku bunga payments, the Group uses its incremental kelebihan pembayaran pajak penghasilan of income tax are recorded as part of "Current
pinjaman inkremental pada tanggal dimulainya borrowing rate at the lease commencement dicatat sebagai bagian dari “Beban Pajak Kini” Tax" in the consolidated statement of profit or
sewa karena tingkat bunga implisit dalam date because the interest rate implicit in the dalam laporan laba rugi dan penghasilan loss and other comprehensive income.
sewa tidak dapat segera ditentukan. Setelah lease is not readily determinable. After the komprehensif lain konsolidasian.
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 Pajak tangguhan Deferred tax
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 Pajak tangguhan diakui dengan menggunakan Deferred tax is recognized using the liability
ada modifikasi, perubahan jangka waktu sewa, modification, a change in the lease term, a metode liabilitas atas perbedaan temporer method on temporary differences between the
perubahan pembayaran sewa (misalnya, change in the lease payments (e.g., changes antara perhitungan akuntansi dan basis financial and the tax bases of assets and
perubahan pembayaran masa depan akibat to future payments resulting from a change in perhitungan pajak atas aset dan liabilitas pada liabilities at the financial reporting date.
perubahan indeks atau kurs yang digunakan an index or rate used to determine such lease tanggal pelaporan.
untuk pembayaran sewa) atau perubahan payments) or a change in the assessment of Aset dan liabilitas pajak tangguhan diakui atas Deferred tax assets and liabilities are
penilaian opsi untuk membeli aset yang an option to purchase the underlying asset. perbedaan temporer antara jumlah tercatat recognized for temporary differences between
mendasarinya. 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
Sewa jangka-pendek dan sewa aset bernilai- Short-term leases and leases of low-value pada setiap tanggal pelaporan. Aset pajak date. Deferred tax assets are recognized for
rendah assets tangguhan diakui untuk seluruh perbedaan all deductible temporary differences and
temporer yang boleh dikurangkan dan accumulated tax losses that have not been
Grup memilih untuk tidak mengakui aset hak- The Group has elected not to recognize right- akumulasi rugi pajak yang belum utilized, if taxable income is likely to be
guna dan liabilitas sewa untuk sewa jangka- of-use assets and lease liabilities for short- dikompensasikan, bila kemungkinan besar available so that the temporary differences can
pendek yang memiliki masa sewa 12 bulan term leases that have a lease term of 12 laba kena pajak akan tersedia sehingga be deducted and the unutilized tax losses can
atau kurang dan sewa atas aset bernilai- months or less and leases of low-value assets. perbedaan temporer dapat dikurangkan dan be utilized.
rendah. Grup mengakui pembayaran sewa The Group recognizes the lease payments rugi pajak belum dikompensasikan tersebut
terkait dengan sewa ini sebagai beban dengan associated with these leases as expense on a dapat dimanfaatkan.
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 42
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2025 Management Business Company Corporate Sustainability
190 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 191
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Perpajakan (lanjutan) q. Taxation (continued) q. Perpajakan (lanjutan) q. Taxation (continued)
Pajak tangguhan (lanjutan) Deferred tax (continued) Pajak pertambahan nilai Value added tax
Aset pajak tangguhan diakui untuk semua Deferred tax assets are recognized for all Pendapatan, beban-beban dan aset-aset Revenue, expenses and assets are
perbedaan temporer yang dapat dikurangkan, deductible temporary differences, the carry diakui neto atas jumlah PPN kecuali: recognized net of the amount of VAT except:
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 • PPN yang muncul dari pembelian aset • Where the VAT incurred on a purchase of
Aktiva pajak tangguhan diakui apabila besar to the extent that it is probable that taxable atau jasa yang tidak dapat dikreditkan, assets or services is not recoverable, in
kemungkinan bahwa jumlah penghasilan kena profit will be available against which the yang dalam hal ini PPN diakui sebagai which case the VAT is recognized as part
pajak akan memadai untuk dikompensasi deductible temporary differences, and the bagian dari biaya perolehan aset atau of the cost of acquisition of the asset or as
dengan perbedaan temporer yang dapat carry forward of unused tax credits and any sebagai bagian dari item beban-beban part of the expense item as applicable; and
dikurangkan, dan penerapan kredit pajak yang unused tax losses can be utilized, except: yang terkait; dan
tidak terpakai serta akumulasi rugi fiskal yang
dapat digunakan, kecuali: • Piutang dan utang yang disajikan termasuk • Receivables and payables that are stated
dengan jumlah PPN. with the amount of VAT included.
i. jika aset pajak tangguhan timbul dari i. when the deferred tax asset relating to
pengakuan awal aset atau liabilitas the deductible temporary difference Jumlah PPN neto yang diajukan untuk The net amount of VAT which is claimed for
dalam transaksi yang bukan transaksi arises from the initial recognition of an direstitusi, atau terutang kepada, kantor pajak restitution from, or payable to, the taxation
kombinasi bisnis dan tidak asset or liability in a transaction that is termasuk sebagai bagian dari aset atau authorities is included as part of assets or
mempengaruhi laba akuntansi maupun not a business combination and, at the liabilitas pada laporan posisi keuangan liabilities in the statement of financial position.
laba kena pajak/rugi pajak; atau time of the transaction, affects neither the konsolidasian.
accounting profit nor taxable profit or
loss; or Pajak penghasilan pilar dua Pillar Two income taxes
ii. dari perbedaan temporer yang dapat ii. in respect of deductible temporary Sebagai tanggapan terhadap penerapan In response to the implementation of the
dikurangkan atas investasi pada entitas differences associated with investments kerangka Pilar 2 Organisasi untuk Kerja Sama Organisation for Economic Co-operation and
anak, perusahaan asosiasi dan in subsidiaries, associates and interest in dan Pembangunan Ekonomi (Organisation for Development (“OECD”) Pillar 2 framework rule
kepentingan dalam pengaturan bersama, joint arrangements, deferred tax assets Economic Co-operation and Development (“Pillar 2”), on December 31, 2024, Indonesian
aset pajak tangguhan hanya diakui bila are recognized only to the extent that it is atau "OECD"), pada tanggal 31 Desember
besar kemungkinannya bahwa beda probable that the temporary differences Government implemented Pillar 2 framework
temporer itu tidak akan dibalik dalam will reverse in the foreseeable future and 2024, Pemerintah Indonesia menetapkan through Ministry of Finance Regulation No.
waktu dekat dan laba kena pajak dapat taxable profit will be available against aturan kerangka Pilar 2 (“Pillar 2”) melalui 136/2024 (PMK 136/2024). The Pillar 2 model
dikompensasi dengan beda temporer which the temporary differences can be Peraturan Menteri Keuangan No. 136/2024 rules as implemented under PMK 136/2024
tersebut. utilized. (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
Jumlah tercatat aset pajak tangguhan ditelaah The carrying amount of deferred tax assets is pada atau setelah tanggal 1 Januari 2025. December 31, 2025, the Group has applied
pada setiap tanggal pelaporan dan nilai reviewed at each reporting date and is Untuk tahun yang berakhir pada 31 Desember amendments to PSAK 212: Income Taxes,
tercatat aset pajak tangguhan tersebut reduced to the extent that it is no longer 2025, Grup telah menerapkan amendemen which provide mandatory temporary exception
diturunkan apabila laba fiskal mungkin tidak probable that sufficient taxable income will be PSAK 212: Pajak Penghasilan, yang
memadai untuk mengkompensasi sebagian available in the future to enable some or all of from recognizing or disclosing deferred taxes
memberikan pengecualian wajib sementara related to Pillar 2. PMK 136/2024 applies new
atau semua manfaat aset pajak tangguhan. the benefits of the deferred tax assets to be dari pengakuan atau pengungkapan pajak
Aset pajak tangguhan yang belum diakui realized. Deferred tax assets that have not taxing mechanisms under which a
sebelumnya ditelaah pada setiap tanggal been recognized previously are reviewed at tangguhan terkait Pilar 2. PMK 136/2024 Multinational Enterprises (“MNE”) should pay a
pelaporan dan diakui sepanjang laba kena each reporting date and recognized to the menerapkan mekanisme perpajakan baru
top-up tax in a jurisdiction whenever their
pajak yang akan datang kemungkinan besar extent that it has become probable that yang mensyaratkan Perusahaan Multinasional
efective tax rate, determined on a jurisdictional
akan tersedia untuk dipulihkan. sufficient taxable income will be available to ("PMN") untuk membayar pajak tambahan
enable the deferred tax assets to be basis under the Pillar 2, is below a 15%
padayurisdiksi tertentu ketika tarif pajak efektif
recovered. minimum rate.
yang ditentukan per yurisdiksi menurut Pilar 2
lebih rendah dari tarif minimum 15%.
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 44
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2025 Management Business Company Corporate Sustainability
192 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 193
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
r. Liabilitas Imbalan Kerja (lanjutan) r. Provision for Employee Service s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Entitlements (continued) Ventura Bersama (lanjutan) Ventures (continued)
Grup mengakui imbalan kerja karyawan The Group recognizes employee benefits Sesuai dengan metode ekuitas, investasi pada Under the equity method, the investment in an
sesuai dengan Undang-Undang based on the Labor Law No. 13/2003 dated entitas asosiasi dan ventura bersama diakui associate and joint venture is initially
Ketenagakerjaan No. 13/2003 tanggal 25 March 25, 2003 ("Law No. 13"), Collective pada awalnya sebesar biaya perolehan. Nilai recognized at cost. The carrying amount of the
Maret 2003 ("Undang-Undang No. 13"), Labor Agreement ("CLA") and Company tercatat investasi tersebut selanjutnya investment is adjusted to recognize changes in
Perjanjian Kerja Bersama ("PKB") dan Regulations ("CR") in accordance with its disesuaikan untuk mengakui perubahan pasca the Group’s share of net assets of the
Peraturan Perusahaan ("PP") sesuai dengan policies whereby the Company makes benefit perolehan dalam bagian Grup atas aset neto associate and joint venture since the
kebijakannya dimana Perusahaan payments to employees who have worked for dari entitas asosiasi dan ventura bersama acquisition date. Goodwill relating to the
memberikan pembayaran tunjangan kepada a certain number of years/which were still tersebut sejak tanggal akuisisi. Goodwill associate and joint venture is included in the
karyawan yang telah bekerja selama beberapa effective as of December 31, 2025. Provisions sehubungan dengan entitas asosiasi diakui carrying amount of the investment and is
tahun tertentu/yang masih berlaku pada for such employee benefits are estimated dalam nilai tercatat investasi dan tidak neither amortized nor individually tested for
tanggal 31 Desember 2025. Provisi untuk based on the actuarial valuation prepared by diamortisasi maupun dilakukan pengujian impairment.
imbalan kerja tersebut diestimasi berdasarkan an independent actuary, using the projected penuruan nilai secara individual.
penilaian aktuarial yang dilakukan oleh unit credit method. This benefit is unfunded.
aktuaris independen, dengan menggunakan Laporan laba rugi dan penghasilan The consolidated statement of profit or loss
metode projected unit credit. Manfaat ini tidak komprehensif lain konsolidasian and other comprehensive income reflects the
didanai. 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
Untuk imbalan kerja karyawan, pengukuran For employee retirement benefits, re- terdapat perubahan dalam pendapatan in other comprehensive income (OCI) of those
ulang, yang terdiri dari keuntungan dan measurement, comprising of actuarial gains komprehensif lainnya pada entitas asosiasi investees is presented as part of the Group’s
kerugian aktuarial, langsung diakui dalam and losses, is recognized immediately in the dan ventura bersama, disajikan sebagai OCI. In addition, when there has been a
laporan posisi keuangan konsolidasian consolidated statement of financial position pendapatan komprehensif lainnya Grup. Bila change recognized directly in the equity of the
dengan debit atau kredit yang sesuai dengan with a corresponding debit or credit to retained terdapat perubahan yang diakui langsung associate, the Group recognizes its share of
saldo laba melalui Penghasilan Komprehensif earnings through Other Comprehensive pada ekuitas dari entitas asosiasi, Grup any changes, when applicable, in the
Lain pada periode terjadinya. Pengukuran Income in the period in which they occur. Re- mengakui bagiannya atas perubahan tersebut consolidated statement of changes in equity.
kembali tidak direklasifikasi ke laba atau rugi measurements are not reclassified to profit or dan mengungkapkan hal ini, jika dapat Unrealized gains and losses resulting from
pada periode berikutnya. Biaya jasa lalu diakui loss in subsequent periods. Past service costs diterapkan, dalam laporan perubahan ekuitas transactions between the Group and the
pada laba rugi pada tanggal yang lebih awal are recognized in profit or loss on the earlier of konsolidasian. Laba atau rugi yang belum associate and joint venture are eliminated to
antara tanggal amendemen atau kurtailmen the date of the plan amendment or curtailment direalisasi sebagai hasil dari transaksi antara the extent of the interest in the associate and
program dan tanggal pada saat Grup and the date that the Group recognizes Grup dengan entitas asosiasi dan ventura joint venture.
mengakui biaya restrukturisasi terkait. restructuring related costs. bersama dieliminasi pada jumlah sesuai
dengan jumlah kepentingan Grup dalam
Bunga neto dihitung dengan menerapkan Net interest is calculated by applying the entitas asosiasi dan ventura bersama.
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 Laporan keuangan entitas asosiasi dan The financial statements of the associate and
layanan saat ini dan biaya jasa lalu, service costs and past service costs, gains ventura bersama disusun untuk periode joint venture are prepared for the same
keuntungan dan kerugian pada kurtailmen dan and losses on curtailments and non-routine pelaporan yang sama dengan Grup. Jika reporting period as the Group. When
penyelesaian non-rutin, jika ada. Beban atau settlements, if any. Net interest expense or diperlukan, penyesuaian dilakukan untuk necessary, adjustments are made to bring
pendapatan bunga neto dan biaya jasa diakui income, and service costs are recognized in menyeragamkan dengan kebijakan akuntansi their accounting policy in line with those of the
dalam laba rugi. profit or loss. Grup. Group.
Setelah penerapan metode ekuitas, Grup After application of the equity method, the
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint menentukan apakah diperlukan untuk Group determines whether it is necessary to
Ventura Bersama Ventures mengakui rugi penurunan nilai atas investasi recognize an impairment loss on its
Entitas asosiasi adalah entitas yang mana An associate is an entity over which the Group dalam entitas asosiasi dan ventura bersama. investment in its associate and joint venture.
Grup memiliki pengaruh signifikan. Pengaruh has significant influence. Significant influence Grup menentukan pada setiap tanggal At its reporting date, the Group determines
signifikan adalah kekuasaan untuk is the power to participate in the financial and pelaporan apakah terdapat bukti yang objektif whether there is objective evidence that the
berpartisipasi dalam keputusan kebijakan operating policy decisions of the investee, but yang mengindikasikan bahwa investasi dalam investment in the associate is impaired. If
keuangan dan operasional investee, tetapi not control or joint control over those policies. entitas asosiasi mengalami penurunan nilai. there is such evidence, the Group calculates
tidak mengendalikan atau mengendalikan Dalam hal terdapat bukti yang objektif, Grup the amount of impairment as the difference
bersama atas kebijakan tersebut. menghitung jumlah penurunan nilai between the recoverable amount of the
Ventura bersama adalah pengaturan bersama A joint venture is a type of joint arrangement berdasarkan selisih antara jumlah terpulihkan associate and joint venture and its carrying
yang para pihaknya memiliki pengendalian whereby the parties that have joint control of atas investasi dalam entitas asosiasi dan value, and then recognizes the loss as “Share
bersama atas pengaturan memiliki hak atas the arrangement have rights to the net assets ventura bersama dan nilai tercatatnya dan of net income (loss) of associates and joint
aset neto dari ventura bersama. Pengendalian of the joint venture. Joint control is the mengakui kerugian tersebut sebagai “Bagian venture” in the profit or loss.
bersama adalah persetujuan kontraktual untuk contractually agreed sharing of control of an laba (rugi) dari entitas asosiasi dan ventura
berbagi pengendalian atas suatu pengaturan, arrangement, which exists only when bersama” di dalam laporan laba rugi.
yang ada hanya ketika keputusan tentang decisions about the relevant activities require Pada saat kehilangan pengaruh signifikan Upon loss of significant influence over the
aktivitas relevan mensyaratkan persetujuan unanimous consent of the parties sharing terhadap entitas asosiasi dan ventura associate and joint venture, the Group
dengan suara bulat dari seluruh pihak yang control. bersama, Grup mengukur dan menilai measures and recognizes any retained
berbagi pengendalian. 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.
45 46
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2025 Management Business Company Corporate Sustainability
194 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 195
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued) 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 Penyesuaian dilakukan dalam laporan Adjustments are made in the consolidated
tersebut memenuhi definisi entitas asosiasi becomes an associate or a joint venture. On keuangan konsolidasian untuk mengeliminasi financial statements to eliminate the Group’s
atau ventura bersama. Pada saat perolehan acquisition of the investment, any difference bagian Grup atas saldo, transaksi dan share of intragroup balances, transactions and
investasi, setiap selisih antara biaya perolehan between the cost of the investment and the keuntungan dan kerugian yang belum unrealized gains and losses on such
investasi dengan bagian entitas atas nilai entity's share of the net fair value of the direalisasi dari transaksi tersebut antara Grup transactions between the Group and its joint
wajar neto aset dan liabilitas teridentifikasi dari investee's identifiable assets and liabilities is dan ventura bersama. Kerugian dari transaksi venture. Losses on transactions are
investee dicatat dengan cara sebagai berikut: accounted for as follows: diakui segera jika kerugian tersebut recognized immediately if the loss provides
memberikan bukti penurunan nilai realisasi evidence of a reduction in the net realizable
a. Goodwill yang terkait dengan entitas a. Goodwill relating to an associate or a neto aset lancar atau kerugian penurunan value of current assets or an impairment loss.
asosiasi atau ventura bersama termasuk joint venture is included in the carrying nilai.
dalam jumlah tercatat investasi. Amortisasi amount of the investment. Amortization
goodwill tersebut tidak diperkenankan. of that goodwill is not permitted. t. Penentuan Nilai Wajar t. Fair Value Measurement
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 Grup mengukur instrumen keuangan seperti The Group measure financial instruments,
dari investee terhadap biaya perolehan assets and liabilities over the cost of the derivatif pada nilai wajar setiap tanggal such as derivatives, at fair value at each
investasi dimasukkan sebagai penghasilan investment is included as income in the pelaporan. Grup juga mengukur pada reporting date. The Group also initially
dalam menentukan bagian entitas atas determination of the entity's share of the pengakuan awal instrumen keuangan, dan measures financial instruments, and assets
laba rugi entitas asosiasi atau ventura associate’s or joint venture's profit or loss aset dan liabilitas yang diperoleh melalui and liabilities of the acquiree upon business
bersama pada periode investasi diperoleh. in the period in which the investment is kombinasi bisnis pada nilai wajar. Grup juga combination at fair value. They also measure
acquired. mengukur jumlah terpulihkan dari unit certain recoverable amounts of the cash
penghasil kas (“UPK”) tertentu berdasarkan generating unit (“CGU”) using fair value less
Penyesuaian terhadap bagian entitas atas Appropriate adjustments to the entity's share nilai wajar dikurangi biaya pelepasan, dan aset cost of disposal (“FVLCD”), and certain
laba rugi entitas asosiasi atau ventura of the associate's or joint venture's profit or keuangan tertentu pada nilai wajar melalui financial assets at fair value through other
bersama setelah akuisisi dilakukan untuk loss after acquisition are made in order to penghasilan komprehensif lain (“NWPKL”). comprehensive income (“FVOCI”).
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 Nilai wajar adalah harga yang akan diterima Fair value is the price that would be received
perolehan. Sedangkan, penyesuaian terhadap at the acquisition date. Similarly, appropriate untuk menjual suatu aset atau harga yang to sell an asset or paid to transfer a liability in
bagian entitas atas laba rugi entitas asosiasi adjustments to the entity's share of the akan dibayar untuk mengalihkan suatu an orderly transaction between market
atau ventura bersama setelah akuisisi associate's or joint venture's profit or loss after liabilitas dalam transaksi teratur antara pelaku participants at the measurement date. The fair
dilakukan atas rugi penurunan nilai yang acquisition are made for impairment losses pasar pada tanggal pengukuran. Pengukuran value measurement is based on the
diakui, misalnya goodwill atau aset tetap. such as for goodwill or property, plant and nilai wajar berdasarkan asumsi bahwa presumption that the transaction to sell the
equipment. transaksi untuk menjual aset atau asset or transfer the liability takes place either:
mengalihkan liabilitas terjadi di:
Grup menilai kepemilikannya pada Operasi The Group assesses its interest in the Sarulla
Panas Bumi Sarulla (Grup Kontraktror Geothermal Operation (Joint Operation • Pasar utama untuk aset dan liabilitas • In the principal market for the asset or
Pengendalian Bersama) sebagai operasi Contractor Group) as joint operations. A joint tersebut; atau liability; or
bersama. Operasi bersama adalah salah satu operation is a type of joint arrangement • Jika tidak terdapat pasar utama, di pasar • In the absence of a principal market, in
jenis pengaturan bersama dimana para pihak whereby the parties that have joint control of yang paling menguntungkan untuk aset the most advantageous market for the
yang memiliki pengendalian bersama atas the arrangement have rights to the assets and atau liabilitas tersebut. Grup harus asset or liability the principal or the most
pengaturan memiliki hak atas aset, kewajiban obligation for the liabilities, relating to the memiliki akses ke pasar utama atau advantageous market must be accessible
atas liabilitas, terkait dengan pengaturan arrangement. pasar yang paling menguntungkan by the Group.
tersebut. tersebut.
Sehubungan dengan kepemilikannya dalam In relation to its interest in joint operations, the Nilai wajar aset dan liabilitas diukur The fair value of an asset or a liability is
operasi bersama, Grup mengakui: Group recognizes its: menggunakan asumsi yang akan digunakan measured using the assumptions that market
pelaku pasar ketika menentukan harga aset participants would use when pricing the asset
• Aset, mencakup bagiannya atas setiap • Assets, including its share of any assets atau liabilitas tersebut, dengan asumsi bahwa or liability, assuming that market participants
aset yang dimiliki bersama; held jointly; pelaku pasar bertindak dalam kepentingan act in their economic best interest.
• Liabilitas, mencakup bagiannya atas • Liabilities, including its share of any ekonomi terbaiknya.
liabilitas yang terjadi bersama; liabilities incurred jointly;
• Pendapatan dari penjualan bagiannya atas • Revenue from the sale of its share of the Pengukuran nilai wajar aset non-keuangan A fair value measurement of a non-financial
output yang dihasilkan dari operasi output arising from the joint operation; mempertimbangkan kemampuan pelaku pasar asset takes into account a market participant's
bersama; untuk menghasilkan keuntungan ekonomi ability to generate economic benefits by using
• Bagiannya atas pendapatan dari penjualan • Share of the revenue from the sale of the dengan menggunakan aset tersebut dalam the asset in its highest and best use or by
output oleh operasi bersama; dan output by the joint operation; and penggunaan tertinggi dan terbaiknya atau selling it to another market participant that
• Beban, mencakup bagiannya atas setiap • Expenses, including its share of any dengan menjualnya ke pelaku pasar lain yang would use the asset in its highest and best
beban yang terjadi secara bersama-sama. expenses incurred jointly. akan menggunakan aset tersebut dalam use.
penggunaan tertinggi dan terbaiknya.
47 48
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2025 Management Business Company Corporate Sustainability
196 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 197
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued) MATERIAL (lanjutan) POLICIES INFORMATION (continued)
t. Penentuan Nilai Wajar (lanjutan) t. Fair Value Measurement (continued) u. Informasi Segmen (lanjutan) u. Segment Information (continued)
Untuk tujuan manajemen, Grup dibagi menjadi For management purposes, the Group is
Grup menggunakan teknik penilaian yang The Group uses valuation techniques that are segmen operasi berdasarkan produk dan jasa organized into operating segments based on
sesuai dalam keadaan dan dimana data yang appropriate in the circumstances and for which yang dikelola secara independen oleh masing- their products and services which are
memadai tersedia untuk mengukur nilai wajar, sufficient data are available to measure fair masing pengelola segmen yang bertanggung independently managed by the respective
memaksimalkan penggunaan input yang dapat value, maximizing the use of relevant jawab atas kinerja dari masing-masing segment managers responsible for the
diobservasi yang relevan dan meminimalkan observable inputs and minimizing the use of segmen. Para pengelola segmen melaporkan performance of the respective segments under
penggunaan input yang tidak dapat unobservable inputs. secara langsung kepada manajemen their charge. The segment managers report
diobservasi. 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
Semua aset dan liabilitas yang nilai wajarnya All assets and liabilities for which fair value is sumber daya ke masing-masing segmen dan resources to the segments and to assess the
diukur atau diungkapkan dalam laporan measured or disclosed in the financial untuk menilai kinerja segmen. segment performance.
keuangan konsolidasian dikategorikan dalam statements are categorized within the fair
hirarki nilai wajar, sebagaimana dijelaskan di value hierarchy, described as follows, based Pengungkapan tambahan pada masing- Additional disclosures on each of these
bawah ini, berdasarkan tingkatan level input on the lowest level input that is significant to masing segmen terdapat dalam Catatan 41, segments are shown in Note 41, including the
yang terendah yang signifikan terhadap the fair value measurement as a whole: termasuk faktor yang digunakan untuk factors used to identify the reportable
pengukuran nilai wajar secara keseluruhan: mengidentifikasi segmen yang dilaporkan dan segments and the measurement basis of
dasar pengukuran informasi segmen. segment information.
• Level 1 - harga kuotasian (tanpa • Level 1 - quoted (unadjusted) market
penyesuaian) di pasar aktif untuk aset atau prices in active markets for identical v. Laba per Saham v. Earnings per Share
liabilitas yang identik assets or liabilities
• Level 2 - teknik penilaian di mana tingkat • Level 2 - valuation techniques for which Laba per saham dihitung berdasarkan rata- Earnings per share is computed based on the
level input terendah yang signifikan the lowest-level input that is significant to rata tertimbang jumlah saham yang beredar weighted average number of issued and fully
terhadap pengukuran nilai wajar dapat the fair value measurement is directly or selama periode yang bersangkutan. paid shares during the period.
diobservasi baik secara langsung atau indirectly observable
tidak langsung Grup tidak mempunyai efek berpotensi saham The Group has no outstanding dilutive
• Level 3 - teknik penilaian dimana tingkat • Level 3 - valuation techniques for which biasa yang bersifat dilutif pada tanggal 31 potential ordinary shares as of December 31,
level input terendah yang signifikan the lowest-level input that is significant to Desember 2025. 2025.
terhadap pengukuran nilai wajar tidak the fair value measurement is
dapat diobservasi baik secara langsung unobservable w. Biaya Pinjaman w. Borrowing Costs
atau tidak langsung Biaya pinjaman terdiri dari beban bunga dan Borrowing costs consist of interest expenses
Untuk aset dan liabilitas yang diukur secara For assets and liabilities that are recognized in biaya lain yang ditanggung Grup sehubungan and other financing charges that the Group
berulang dalam laporan keuangan the consolidated financial statements on a dengan peminjaman dana. Biaya pinjaman incurs in connection with the borrowing funds.
konsolidasian, Grup menentukan apakah recurring basis, the Group determines whether yang dapat diatribusikan langsung dengan Borrowing costs that are directly attributable to
perpindahan antar level hirarki telah terjadi transfers have occurred between levels in the perolehan, pembangunan atau pembuatan the acquisition, construction or production of a
dengan melakukan evaluasi pengelompokan hierarchy by re-assessing categorisation aset kualifikasian dikapitalisasi sebagai bagian qualifying asset are capitalized as part of the
(berdasarkan level input yang terendah yang (based on the lowest level input that is biaya perolehan aset tersebut. Biaya pinjaman cost of the related asset. All other borrowing
signifikan terhadap pengukuran nilai wajar significant to the fair value measurement as a lainnya diakui sebagai beban pada saat terjadi costs are recognized as expenses when
secara menyeluruh) pada setiap akhir periode whole) at the end of each reporting period. Grup. incurred.
pelaporan.
x. Peristiwa Setelah Periode Pelaporan x. Events After Reporting Period
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 Peristiwa setelah akhir tahun yang Post year-end events that provide additional
liabilitas berdasarkan sifat, karakteristik dan liabilities based on the nature, characteristics memberikan informasi tambahan tentang information about the Group’s position at end
risiko dari aset dan liabilitas dan level dari and risks of the asset or liability and the level posisi Grup pada akhir periode pelaporan of reporting period (adjusting events) are
hirarki nilai wajar yang dijelaskan di atas. of the fair value hierarchy as explained above. (peristiwa penyesuaian) dicerminkan dalam reflected in the consolidated financial
laporan keuangan konsolidasian. Peristiwa statements. Post year-end events that are not
u. Informasi Segmen u. Segment Information setelah akhir tahun yang tidak disesuaikan adjusting events are disclosed in the notes to
diungkapkan dalam catatan atas laporan the consolidated financial statements when
Segmen adalah komponen Grup yang dapat A segment is a distinguishable component of keuangan konsolidasian jika material. material.
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 50
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2025 Management Business Company Corporate Sustainability
198 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 199
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING 3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
MATERIAL (lanjutan) POLICIES INFORMATION (continued) AKUNTANSI YANG SIGNIFIKAN ESTIMATES AND ASSUMPTIONS
y. Perubahan Kebijakan Akuntansi dan y. Changes in Accounting Policies and
Pengungkapan Disclosures Penyusunan laporan keuangan konsolidasian The preparation of consolidated financial
sesuai dengan Standar Akuntasi Keuangan di statements in accordance with Indonesian Financial
Grup menerapkan pertama kali seluruh The Group adopted the new and/or revised Indonesia mengharuskan manajemen untuk Accounting Standards requires management to
standar baru dan/atau yang direvisi yang standards effective for the periods beginning membuat pertimbangan, estimasi dan asumsi yang make judgments, estimates and assumptions that
berlaku efektif untuk periode yang dimulai on or after January 1, 2025: mempengaruhi laporan keuangan. Ketidakpastian affect amounts reported therein. Due to inherent
pada atau setelah 1 Januari 2025: 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.
Amendemen PSAK 221: Kekurangan Amendment of PSAK 221: Lack of berikutnya.
ketertukaran exchangeability
Pertimbangan Judgments
Amendemen tersebut mengharuskan The amendments require disclosure of
pengungkapan informasi yang memungkinkan information that enables users of financial Dalam proses penerapan kebijakan akuntansi In the process of applying the Group’s accounting
pengguna laporan keuangan memahami statements to understand the impact of a Grup, manajemen telah membuat penilaian sebagai policies, the management has made the following
dampak mata uang yang tidak dapat currency not being exchangeable. The berikut yang memiliki dampak signifikan terhadap judgments which have significant effect on the
dipertukarkan. Amendemen berlaku untuk amendments apply for annual reporting jumlah-jumlah dalam laporan keuangan amounts in the consolidated financial statements:
periode pelaporan tahunan yang dimulai pada periods beginning on or after 1 January 2025. konsolidasian ini:
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 Klasifikasi Aset dan Liabilitas Keuangan Classification of Financial Assets and Liabilities
mengungkapkan fakta tersebut. Tanggal initial application is the beginning of the annual Untuk menentukan kategori klasifikasi dan To determine the financial instruments classification
penerapan awal adalah awal periode reporting period in which an entity first applies pengukuran instrumen keuangan, PSAK 109 and measurement category, PSAK 109 requires all
pelaporan tahunan saat entitas pertama kali the amendments. mengharuskan semua aset keuangan, kecuali financial assets, except equity instruments and
menerapkan amendemen tersebut. 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
Grup menilai bahwa standar akuntansi baru The Group assessed that the new accounting untuk mengelola aset dan karakteristik arus kas managing the assets and the instrument’s
tersebut tidak berdampak material terhadap standard has no impact on the Group’s kontraktual instrumen. Klasifikasi instrumen contractual cash flow characteristics. The
pelaporan keuangan Grup. financial reporting. 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.
PSAK 117: Kontrak asuransi PSAK 117: Insurance contracts
Standar akuntansi baru yang komprehensif A comprehensive new accounting standard for Grup menentukan model bisnis tersebut The Group determines its business model at the
untuk kontrak asuransi yang mencakup insurance contracts covering recognition and menggunakan dengan tingkat yang terbaik yang level that best reflects how it manages groups of
pengakuan dan pengukuran, penyajian dan measurement, presentation and disclosure, mencerminkan bagaimana perusahaan mengatur financial assets to achieve its business objective,
pengungkapan, pada saat berlaku efektif aset keuangan untuk mencapai tujuan bisnisnya, such that the risks that affect the performance of
upon its effective date, PSAK 117 will replace hal tersebut mempengaruhi kinerja model bisnisnya the business model (and the financial assets held
PSAK 117 akan menggantikan PSAK 104: PSAK 104: Insurance contracts. PSAK 117 (dan aset keuangan yang dikelola oleh bisnis within that business model) and, in particular, the
Kontrak asuransi. PSAK 117 berlaku untuk applies to all types of insurance contracts, life, model) dan secara khusus, bagaimana risiko way those risks are managed. As a second step of
semua jenis kontrak asuransi, jiwa, non-jiwa, non-life, direct insurance and re-insurance, tersebut dikelola. Sebagai langkah selanjutnya dari its classification process, the Group assesses the
asuransi langsung dan reasuransi, terlepas regardless of the entities issuing them, as well proses klasifikasi, Grup mengevaluasi perjanjian contractual terms of the financial asset to identify
dari entitas yang menerbitkannya, serta untuk as to certain guarantees and financial kontraktual aset keuangan untuk menentukan whether they meet the SPPI test.
jaminan dan instrumen keuangan tertentu instruments with discretionary participation apakah mereka memenuhi persyaratan tes SPPI.
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 Klasifikasi aset dan liabilitas keuangan di The classification of the financial assets and
berlaku. Tujuan keseluruhan dari PSAK 117 ungkapkan pada Catatan 2j. liabilities are disclosed in Note 2j.
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 52
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2025 Management Business Company Corporate Sustainability
200 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 201
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS, 3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued) AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued) Pertimbangan (lanjutan) Judgments (continued)
Kepentingan dalam Pengaturan Bersama (lanjutan) Interest in Joint Arrangements (continued)
Penilaian Perjanjian Kontraktual Contractual Arrangement Assessment
Pertimbangan juga diperlukan untuk menentukan Judgment is also required to classify a joint
Manajemen menggunakan pertimbangannya dalam The management exercises its judgment in klasifikasi suatu pengaturan bersama, arrangement as either a joint operation or joint
menentukan apakah perjanjian kontraktual dengan determining whether or not the contractual diklasifikasikan sebagai pengaturan bersama atau venture. Classifying the arrangement requires the
PT PLN (Persero), PLN Batam, PT PLN (Persero) arrangements with PT PLN (Persero), PLN Batam, ventura bersama. Pengklasifikasian tersebut Group to assess its rights and obligations arising
Wilayah Sumatera Selatan, Jambi, dan Bengkulu PT PLN (Persero) Wilayah Sumatera Selatan, mengharuskan Grup menilai hak dan kewajibannya from the arrangement. Specifically, the Group
(“PT PLN WS2JB”) dan PT PLN (Persero) Unit Jambi, dan Bengkulu (“PT PLN WS2JB”) and PT yang timbul dari pengaturan bersama. Secara consider:
Distribusi Jawa Barat (“PT PLNUIDJB”) termasuk PLN (Persero) Unit Distribusi Jawa Barat (“PT khusus, Grup mempertimbangkan:
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 • Struktur pengaturan bersama - apakah dibentuk • The structure of the joint arrangement - whether
terhadap syarat dan ketentuan perjanjian untuk evaluates the terms and conditions of the melalui badan hukum terpisah it is structured through a separate vehicle
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 • Ketika pengaturan bersama dibentuk melalui • When the arrangement is structured through a
sebagaimana diatur dalam ISAK No. 112 berikut: stipulated in ISAK No. 112 as follows: badan hukum terpisah, Grup juga separate vehicle, the Group also considers the
mempertimbangkan hak dan kewajiban para rights and obligations arising from:
a. Pemberi konsesi mengendalikan atau a. the grantor controls or regulates what services pihak yang timbul dari:
meregulasi jasa apa yang harus diberikan the operator must provide with the
oleh operator dengan infrastruktur, kepada infrastructure, to whom it must provide them, – Bentuk hukum dari badan hukum terpisah; – The legal form of the separate vehicle;
siapa jasa harus diberikan dan berapa and at what price; and
harganya; dan – Persyaratan pengaturan kontraktual; dan – The terms of the contractual arrangement;
and
b. Pemberi konsesi mengendalikan - melalui b. the grantor controls - through ownership, – Fakta dan keadaan lainnya, jika relevan. – Other facts and circumstances, when
kepemilikan, hak manfaat, atau bentuk lain - beneficial entitlement or otherwise-any relevant.
atas setiap kepentingan residu signifikan significant residual interest in the
dalam infrastruktur pada akhir masa infrastructure at the end of the term of the Penilaian ini sering memerlukan pertimbangan yang This assessment often requires significant
perjanjian. arrangement. 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
Kepentingan dalam Pengaturan Bersama Interest in Joint Arrangements apakah suatu pengaturan adalah sebuah operasi joint venture, may materially impact the accounting.
bersama atau ventura bersama, dapat secara
Pertimbangan diperlukan untuk menentukan kapan Judgment is required to determine when the Group material mempengaruhi perlakuan akuntansinya.
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 Grup memiliki pengaturan bersama di Operasi The Group has a joint arrangement in the Sarulla
dari aktivitas yang relevan dan apabila keputusan relation to those activities require unanimous Panas Bumi Sarulla (Grup Kontraktror Geothermal Operation (Joint Operation Contractor
sehubungan dengan aktivitas tersebut consent. The Group determined that the relevant Pengendalian Bersama) yang tidak terstruktur Group) which is not structured through a separate
mengharuskan persetujuan dengan suara bulat. activities for its joint arrangements are those melalui badan hukum terpisah. Struktur dan vehicle. This structure and the terms of the
Grup menetapkan bahwa aktivitas relevan bagi relating to the operating and capital decisions of the persyaratan pengaturan kontrak ini menunjukkan contractual arrangement indicate that the Group
pengaturan bersama adalah aktivitas yang arrangement, such as: the approval the capital bahwa Grup memiliki hak atas aset dan kewajiban has rights to the assets and obligations for the
berhubungan dengan keputusan keuangan, expenditure, and appointing, remunerating and untuk liabilitas tersebut. Kesimpulan akhirnya liabilities. At the inception of the joint arrangement,
operasional dan modal dari pengaturan tersebut. terminating the key management personnel or adalah bahwa pengaturannya berupa operasi the final conclusion was that the arrangement was
Pertimbangan-pertimbangan yang dibuat dalam service providers of the joint arrangement. The gabungan. a joint operation.
menentukan pengendalian bersama adalah sama considerations made in determining joint control are Grup memiliki pengaturan bersama di PT The Group have a joint arrangement in PT
dengan penentuan pengendalian atas entitas anak. similar to those necessary to determine control over Medcopower Solar Sumbawa yang terstruktur Medcopower Solar Sumbawa which structured
subsidiaries. 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.
53 54
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2025 Management Business Company Corporate Sustainability
202 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 203
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS, 3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued) AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued) Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Perpajakan (lanjutan) Taxes (continued) Evaluasi atas Penurunan Nilai Aset Evaluation of Asset Impairment
Ketidakpastian atas interpretasi dari peraturan Uncertainties exist with respect to the interpretation Grup melakukan penelaahan atas aset tetap, The Group review property, plant and equipment,
pajak yang kompleks, perubahan peraturan pajak of complex tax regulations, changes in tax laws, investasi jangka panjang tertentu dan aset tak certain long term investment and intangible assets
dan jumlah dan timbulnya penghasilan kena pajak and the amount and timing of future taxable berwujud selain goodwill, untuk penurunan nilai. Ini other than goodwill, for impairment indicators. This
di masa depan, dapat menyebabkan penyesuaian income, could necessitate future adjustments to tax termasuk mempertimbangkan indikasi penurunan includes considering certain indications of
di masa depan atas penghasilan dan beban pajak income and expense already recorded. tertentu seperti perubahan signifikan dalam impairment such as significant changes in asset
yang telah dicatat. penggunaan aset, penurunan nilai aset, keusangan usage, significant decline in asset’s market value,
Pertimbangan juga dilakukan dalam menentukan Judgment is also involved in determining the atau kerusakan fisik aset secara signifikan, kinerja obsolescence or physical damage of an asset,
penyisihan atas pajak penghasilan badan. Terdapat provision for corporate income tax. There are yang kurang signifikan dibandingkan dengan significant underperformance relative to expected
transaksi dan perhitungan tertentu yang penentuan certain transactions and computation for which the perkiraan hasil operasi masa depan historis dan historical or projected future operating results and
pajak akhirnya adalah tidak pasti dalam kegiatan ultimate tax determination is uncertain during the proyeksi dan industri negatif atau tren ekonomi significant negative industry or economic trends.
usaha normal. ordinary course of business. 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
Grup mengakui liabilitas atas pajak penghasilan The Group recognizes liabilities for expected untuk penurunan nilai apabila ada indikasi bahwa impairment when there are indicators that their
badan berdasarkan estimasi apakah akan terdapat corporate income tax issues based on estimates of jumlah tercatatnya mungkin tidak dapat dipulihkan. carrying amounts may not be recoverable.
tambahan pajak penghasilan badan. Penjelasan whether additional corporate income tax will be
lebih rinci mengenai pajak penghasilan due. Further details regarding taxation are Grup juga mengkaji aset keuangan mereka untuk The Group also reviews their financial assets for
diungkapkan dalam Catatan 23. disclosed in Note 23. 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
Estimasi dan Asumsi Estimates and Assumptions penurunan nilai objektif. objective evidence of impairment.
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 Pengukuran Nilai Wajar Fair Value Measurement
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 Ketika nilai wajar aset keuangan dan liabilitas When the fair values of financial assets and
terhadap nilai tercatat aset dan liabilitas untuk assets and liabilities within the next financial year keuangan yang tercatat dalam laporan posisi financial liabilities recorded in the consolidated
periode berikutnya diungkapkan di bawah ini. Grup are disclosed below. The Group based its keuangan konsolidasian tidak dapat diukur statement of financial position cannot be measured
mendasarkan estimasi dan asumsi pada parameter estimates and assumptions on parameters berdasarkan harga yang berlaku di pasar aktif, based on quoted prices in active markets, their fair
yang tersedia pada saat laporan keuangan available when the consolidated financial maka nilai wajarnya diukur dengan menggunakan value is measured using valuation techniques
konsolidasian disusun. Asumsi dan situasi statements were prepared. Existing circumstances teknik penilaian termasuk model discounted cash including the discounted cash flow (“DCF”) model.
mengenai perkembangan masa depan tersebut and assumptions about future developments may flow (“DCF”). Masukan untuk model ini diambil dari The inputs to these models are taken from
mungkin berubah akibat perubahan pasar atau change due to market changes or circumstances pasar yang dapat diamati jika memungkinkan, observable markets where possible, but where this
situasi yang timbul di luar kendali Grup. Perubahan arising beyond the control of the Group. Such namun jika hal ini tidak memungkinkan, tingkat is not feasible, a degree of judgement is required in
tersebut dicerminkan dalam asumsi terkait pada changes in the assumptions are reflected when penilaian diperlukan dalam menetapkan nilai wajar. establishing fair values. Judgements include
saat terjadinya. they occur. 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.
Imbalan Kerja Karyawan Jangka Panjang Long-term Employee Benefits yang dilaporkan.
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. Provisi kerugian kredit ekspektasian atas piutang Provision for expected credit losses of trade
aktuarial. Penilaian aktuarial melibatkan asumsi The actuarial valuation involves assumptions usaha receivables
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 Penerapan PSAK No. 109 menyebabkan The implementation of PSAK No. 109 resulted in a
panjang dari liabilitas ini, estimasi tersebut adalah obligation, such estimates are subject to significant perubahan terhadap penilaian signifikan estimasi change to the assessment of the significant
subjek dari ketidakpastian yang signifikan. Rincian uncertainty. The details of retirement benefits dan asumsi akuntansi terhadap provisi untuk accounting estimates and judgements related to
atas liabilitas manfaat pensiun diungkapkan pada obligations are discussed in Note 28. kerugian kredit ekspektasian atas piutang. Grup provision for expected credit loss of receivables.
Catatan 28. 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
Aset Pajak Tangguhan Deferred Tax Assets ekspektasian seumur hidup untuk seluruh piutang non-trade receivables. In determining expected
usaha. Dalam penentuan kerugian kredit credit losses, management is required to exercise
Aset pajak tangguhan diakui atas seluruh rugi fiskal Deferred tax assets are recognized to the extent ekspektasian, manajemen diharuskan untuk judgement in defining what is considered to be a
dan beda temporer yang dapat dikurangkan yang that it is probable that sufficient taxable income will menggunakan pertimbangan dalam mendefinisikan significant increase in credit risk and in making
belum digunakan sepanjang besar be available against which deferred tax assets can apa yang dianggap sebagai kenaikan risiko kredit assumptions and estimates to incorporate relevant
kemungkinannya bahwa penghasilan kena pajak be utilized. However, there is no assurance that the yang signifikan dan dalam pembuatan asumsi dan information about past events, current conditions
akan tersedia sehingga rugi fiskal tersebut dapat Company or Subsidiaries will generate sufficient estimasi, untuk menghubungkan informasi yang and forecasts of economic conditions. Judgement
digunakan. Namun, tidak ada jaminan bahwa taxable income to allow all or part of the deferred relevan tentang kejadian masa lalu, kondisi terkini has been applied in determining the lifetime and
Perusahaan atau entitas anak akan menghasilkan tax assets to be utilized. The Group evaluates their dan perkiraan atas kondisi ekonomi. Pertimbangan point of initial recognition of receivables.
penghasilan kena pajak yang memadai untuk projected performance in assessing the sufficiency diaplikasikan dalam menentukan periode seumur
memungkinkan seluruh atau sebagian aset pajak of future taxable income. hidup dan titik pengakuan awal piutang.
tangguhan dapat digunakan. Grup mengevaluasi
proyeksi kinerja mereka dalam menilai kecukupan
penghasilan kena pajak di masa depan.
55 56
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2025 Management Business Company Corporate Sustainability
204 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 205
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS, 4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Akun ini terdiri dari: This account consists of:
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
2025 2024
Provisi kerugian kredit ekspektasian atas piutang Provision for expected credit losses of trade
usaha (lanjutan) receivables (continued) Kas 672.199.386 607.603.043 Cash
Tingkat provisi yang spesifik dievaluasi oleh The level of a specific provision is evaluated by Bank Bank
manajemen dengan dasar faktor-faktor yang management on the basis of factors that affect the Pihak berelasi Related parties
memengaruhi tingkat tertagihnya piutang tersebut. collectibility of the accounts. In these cases, the Rupiah Rupiah
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 PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
meliputi tetapi tidak terbatas pada jangka waktu the length of the Group’s relationship with the 1906 Tbk (Catatan 8a) *) - 33.578.786.831 Indonesia 1906 Tbk (Note 8a) *)
hubungan Grup dengan pelanggan dan status customers and the customer’s credit status based Dolar Amerika Serikat United States Dollar
kredit pelanggan berdasarkan laporan dari pihak on third-party credit rating reports and known PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
ketiga dan faktor-faktor pasar yang telah diketahui, market factors, to record specific reserves for 1906 Tbk (Catatan 8a) *) - 46.249.892.268 Indonesia 1906 Tbk (Note 8a) *)
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 Pihak ketiga Third parties
mengurangi piutang Grup menjadi jumlah yang to collect. When there is no such available credit Rupiah Rupiah
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 PT Bank Mandiri (Persero) Tbk 601.810.953.571 148.372.823.624 PT Bank Mandiri (Persero) Tbk
peringkat kredit investasi terendah adalah estimasi Group with keeping the historical transactions PT Bank Syariah Indonesia PT Bank Syariah Indonesia
terbaik bagi Grup dengan menjaga transaksi between the Group and borrowers. (Persero) Tbk 76.923.412.112 37.360.452.683 (Persero) Tbk
historis antara Grup dan peminjam. PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 73.246.597.381 55.105.617.257 (Persero) Tbk
Menentukan suku bunga pinjaman inkremental Determining the incremental borrowing rate to be PT Bank Maybank Indonesia Tbk 22.059.425.370 50.527.119 PT Bank Maybank Indonesia Tbk
yang digunakan sebagai tingkat diskonto used as discount factor
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
Dalam menentukan liabilitas sewa Grup, suku In determining the Group’s lease liabilities, the 1906 Tbk *) 11.552.883.273 - Indonesia 1906 Tbk *)
bunga pinjaman inkremental yang digunakan incremental borrowing rates used as discount PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
sebagai tingkat diskonto dalam mendiskontokan factors in discounting lease payments have been (Persero) Tbk 9.161.942.231 22.110.561.285 (Persero) Tbk
pembayaran sewa ditetapkan berdasarkan established based on a consistent approach
pendekatan yang secara konsisten yang reflecting the Group’s borrowing rate, the currency The Bank of Tokyo Mitsubishi UFJ, The Bank of Tokyo Mitsubishi
Ltd. 6.757.020.553 1.189.595.554 UFJ, Ltd.
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 PT Bank Tabungan Negara PT Bank Tabungan Negara
badan hukum yang bersepakat dalam kontrak the lease contract. (Persero) Tbk 6.237.260.416 1.113.923.630 (Persero) Tbk
sewa. 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
57 58
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206 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 207
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued) 5. REKENING BANK DAN DEPOSITO BERJANGKA 5. RESTRICTED CASH IN BANKS AND TIME
YANG DIBATASI PENGGUNAANNYA DEPOSIT
2025 2024
Akun ini terdiri dari: This account consists of:
Deposito berjangka Time deposits
Pihak berelasi Related parties 2025 2024
Rupiah Rupiah Rekening bank yang dibatasi
penggunaannya Restricted cash in banks
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 Syariah Indonesia PT Bank Syariah Indonesia
Dolar Amerika Serikat United States Dollar (Persero) Tbk 22.671.961.926 12.409.255.359 (Persero) Tbk
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara Sub-total 22.671.961.926 12.409.255.359 Sub-total
1906 Tbk (Catatan 8a) *) - 662.642.000.000 Indonesia 1906 Tbk (Note 8a) *)
Pihak ketiga Third parties Deposito berjangka yang dibatasi
penggunaannya Restricted time deposit
Rupiah Rupiah
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk 221.000.000.000 11.000.000.000 PT Bank Mandiri (Persero) Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 20.398.840.000 24.769.935.000 (Persero) Tbk
(Persero) Tbk 20.000.000.000 31.000.000.000 (Persero) Tbk
PT Bank Syariah Indonesia PT Bank Syariah Indonesia Total 43.070.801.926 37.179.190.359 Total
(Persero) Tbk 10.000.000.000 - (Persero) Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk - 20.000.000.000 (Persero) Tbk
Tingkat suku bunga per tahun untuk deposito Annual interest rates on restricted time deposit:
Dolar Amerika Serikat United States Dollar berjangka yang dibatasi penggunaannya:
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 401.089.800.000 - (Persero) Tbk 2025 2024
PT Bank Negara Indonesia PT Bank Negara Indonesia Rupiah 3,00% - 5,75% 3,75% - 5,00% Rupiah
(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
Bank Periode/ Deskripsi/
Total 2.355.595.385.816 1.692.790.572.715 Total Bank Period Description
Deposito berjangka yang dibatasi
*) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk *) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk penggunaannya (Rupiah)
tidak lagi diklasifikasikan sebagai pihak berelasi bagi Grup. ceased to be a related party of the Group. Restricted time deposit (Rupiah)
PT Bank Rakyat Indonesia (Persero) 31 Desember 2025 dan 31 Jaminan atas penerbitan Bank Garansi untuk
Tingkat suku bunga per tahun untuk deposito Annual interest rates on time deposits: Tbk Desember 2024/ Jaminan Pelaksanaan sehubungan dengan Perjanjian
berjangka: Operasi dan Pemeliharaan di TJBPS (Catatan 25) /
December 31, 2025 and Underlying for Bank Guarantee issued for
2025 2024 December 31, 2024 Performance Bond in connection with Operation and
Rupiah 2,25% - 7,20% 2,25% - 6,50% Rupiah Maintenance Agreement in TJBPS. (Note 25).
Dolar Amerika Serikat 4,00% - 5,50% 4,50% - 5,50% United States Dollar Saldo bank yang dibatasi
penggunaannya (Dolar AS)
Kas di bank memiliki tingkat suku bunga Cash in banks earns interest at floating rates based Restricted cash in bank (US Dollar)
mengambang berdasarkan suku bunga bank on daily bank deposit rates. PT Bank Syariah Indonesia (Persero) 31 Desember 2025 dan 31 Debt service account untuk pembayaran pokok
harian. Tbk Desember 2024/ pinjaman dan bunga atas fasilitas pembiayaan dari
PT Bank Syariah Indonesia (Persero) Tbk untuk ELB/
Deposito berjangka ditempatkan untuk berbagai Time deposits are places for varying periods of (Catatan 38) /
periode antara satu (1) sampai tiga (3) bulan between one (1) to three (3) months depending on
December 31, 2025 and Debt service account for loan principal and interest
tergantung pada kebutuhan kas Grup. the immediate cash requirement of the Group. December 31, 2024 payments on financing facility from PT Bank Syariah
Indonesia (Persero) Tbk for ELB. (Note 38).
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 60
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208 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 209
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
6. PIUTANG USAHA - PIHAK KETIGA 6. TRADE RECEIVABLES - THIRD PARTIES 7. PIUTANG LAIN-LAIN - PIHAK KETIGA 7. OTHER RECEIVABLES - THIRD PARTIES
Akun ini terdiri dari: This account consists of: Akun ini terdiri dari: This account consists of:
a. Berdasarkan Pelanggan a. By Customer
a. Berdasarkan Pihak/Jenis a. By Party/Nature
2025 2024
2025 2024
PT PLN (Persero) 220.167.733.704 313.740.226.525 PT PLN (Persero)
Bagian jangka pendek Current portion
PT PLN Batam (Catatan 38) 140.868.462.021 93.143.989.098 PT PLN Batam (Note 38)
PT Sangsaka Hidro Tiara 75.613.751.136 75.604.438.600 PT Sangsaka Hidro Tiara
PT PLN Tanjung Jati B (Catatan PT PLN Tanjung Jati B (Note
38) 49.776.683.505 23.814.983.625 38) Piutang bunga 6.925.141.995 2.885.341.292 Interest receivables
PT PLN (Persero) Wilayah PT PLN (Persero) Wilayah Receivables from employees 6.702.534.309 3.808.974.963 Receivables from employees
Sumatera Selatan, Jambi dan Sumatera Selatan, Jambi dan Ratch Group PCL 1.538.311.961 2.305.121.250 Ratch Group PCL
Bengkulu (Catatan 38) 42.809.800.568 28.095.369.472 Bengkulu (Note 38)
Klaim asuransi 152.917.724 176.553.280 Insurance claims
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 PLN Tanjung Jati B 100.792.461 323.463.880 PT PLN Tanjung Jati B
PT Inti Karya Persada Teknik - 3.428.250.000 PT Inti Karya Persada Teknik Lain-lain 1.610.026.121 1.118.402.789 Others
Sub-total 459.450.104.486 467.911.859.194 Sub-total Total 92.643.475.707 86.222.296.054 Total
Aset kontrak 107.919.800.770 65.572.044.236 Contract asset Penyisihan atas kerugian kredit Allowance for expected credit
ekspektasian (37.632.994.410) (37.632.994.410) losses
Total 567.369.905.256 533.483.903.430 Total
Neto 55.010.481.297 48.589.301.644 Net
Pada tanggal 31 Desember 2025, aset kontrak As of December 31, 2025, contract asset
merupakan akumulasi biaya mobilisasi kontrak represents the unamortised accumulated Bagian jangka panjang Long-term portion
O&M Timor dan O&M Sulut yang belum mobilization costs O&M Timor and O&M Sulut PT Universal Gas Energy PT Universal Gas Energy
diamortisasi serta pendapatan yang belum and unbilled revenue from contract and ("UGE") 220.448.259.598 117.891.765.038 ("UGE")
ditagih dari bagian kontrak dan atas incentive fee based on annual operational Piutang dari karyawan 4.551.224.110 3.578.311.762 Receivables from employees
pendapatan insentif berdasarkan pencapaian performance.
kinerja operasional tahunan. Total 224.999.483.708 121.470.076.800 Total
Pada tanggal 31 Desember 2024, aset kontrak As of December 31, 2024, contract asset Penyisihan atas kerugian kredit Allowance for expected credit
merupakan akumulasi biaya mobilisasi kontrak represents the unamortised accumulated ekspektasian - - losses
O&M Timor yang belum diamortisasi dan mobilization costs O&M Timor and unbilled Neto 224.999.483.708 121.470.076.800 Net
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
b. Berdasarkan Umur b. By Aging Category
Lancar dan Telah jatuh tempo dan tidak mengalami penurunan nilai/
tidak Past due but not impaired
Lancar dan mengalami
Telah jatuh tempo dan tidak mengalami penurunan nilai/
tidak penurunan Penurunan
Past due but not impaired
mengalami nilai/ Kurang dari Di antara Di antara Di antara Lebih dari nilai secara
penurunan Di antara Neither past 30 hari/ 30-60 hari/ 61-90 hari/ 91-120 hari/ 120 hari/ individual/
nilai/ 91-120 Penurunan Total/ due nor Less than 30 Between Between Between More than Individually
Neither past Kurang dari Di antara Di antara hari/ Lebih dari nilai secara Total impaired days 30-60 days 61-90 days 91-120 days 120 days impaired
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 2025 317.642.959.415 273.819.636.473 6.190.328.532 - - - - 37.632.994.410 2025
days 30-60 days 61-90 days days 120 days impaired
2024 207.692.372.854 160.818.717.589 7.716.568.578 1.524.092.277 - - - 37.632.994.410 2024
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
c. Berdasarkan Mata Uang c. By Currency
Rupiah 203.679.284.168 166.812.216.426 Rupiah
2025 2024 Dolar Amerika Serikat 102.739.280.317 31.304.730.863 United States Dollar
Dolar Amerika Serikat 237.766.332.327 319.411.876.273 United States Dollar Euro 11.224.394.930 9.575.425.565 Euro
Rupiah 329.603.572.929 214.072.027.157 Rupiah Total 317.642.959.415 207.692.372.854 Total
Total 567.369.905.256 533.483.903.430 Total Penyisihan atas kerugian kredit Allowance for expected credit
ekspektasian (37.632.994.410) (37.632.994.410) losses
Berdasarkan penelaahan status akun piutang Based on review of trade receivables and contract Neto 280.009.965.005 170.059.378.444 Net
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.
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2025 Management Business Company Corporate Sustainability
210 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 211
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
7. PIUTANG LAIN-LAIN - PIHAK KETIGA (lanjutan) 7. OTHER RECEIVABLES - THIRD PARTIES 8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
(continued) BERELASI RELATED PARTIES
Akun ini terdiri dari: (lanjutan) This account consists of: (continued) 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
Mutasi atas penyisihan atas kerugian kredit The movements in the allowance for expected dari penjualan, uang muka dan beban, jasa principally consisting of sales, intercompany
ekspektasian adalah sebagai berikut: credit losses are as follows: manajemen dan jasa teknis serta fasilitas advances and charges, management and technical
perbankan. Piutang dan utang tidak dijamin, service and banking facilities. The related
2025 2024 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
Saldo awal tahun 37.632.994.410 39.134.031.980 Balance at beginning of year dilakukan berdasarkan persyaratan yang disetujui stated. The transactions are made based on terms
Penghapusan tahun berjalan - (1.501.037.570) Write-off during the year 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
Total 37.632.994.410 37.632.994.410 Total yang dilakukan dengan pihak-pihak yang tidak unrelated parties.
berelasi.
Piutang dari UGE, pemegang saham UBE, Receivables from UGE, a shareholder of UBE, a. Kas dan setara kas a. Cash and cash equivalents
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) Grup memiliki rekening bank dan deposito The Group maintain bank accounts and time
saham mayoritas ELB) dan ELB untuk and ELB for the construction of the Tanjung berjangka pada PT Bank Woori Saudara deposits with PT Bank Woori Saudara
pembangunan pembangkit listrik Tanjung Uncang. Uncang power plant. The receivables are secured Indonesia 1906 Tbk (Catatan 4). Namun, PT Indonesia 1906 Tbk (Note 4). However, PT
Piutang tersebut dijamin dengan 30% kepemilikan by the 30% share ownership of UGE in UBE. The Bank Woori Saudara Indonesia 1906 Tbk tidak Bank Woori Saudara Indonesia 1906 Tbk is no
saham UGE di UBE. Piutang tersebut akan receivables will be settled at the latest 14 years lagi diklasifikasikan sebagai pihak berelasi longer classified as a related party to the
diselesaikan paling lambat 14 tahun setelah tanggal after the commercial operation date (“COD”) of the bagi Grup sejak 2025. Group starting in 2025.
operasi komersial (“COD”) proyek. projects.
Piutang dari PT Sangsaka Hidro Tiara (“SHT”), Receivables from PT Sangsaka Hidro Tiara b. Piutang usaha b. Trade receivables
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 Akun ini terdiri dari: This account consists of:
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 2025 2024
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 Sarulla Operations Ltd. (Catatan Sarulla Operations Ltd. (Note
diselesaikan selambat-lambatnya 4 tahun setelah projects. 38) 21.029.512.028 30.124.429.334 38)
COD proyek. Total 21.029.512.028 30.124.429.334 Total
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 c. Piutang lain-lain c. Other receivables
kerusakan peralatan pembangkit pada entitas anak. power plant equipment at subsidiaries.
Piutang karyawan merupakan pinjaman yang tidak Receivables from employees represent non-interest Akun ini terdiri dari: This account consists of:
dikenakan bunga yang diberikan kepada karyawan. bearing loans granted to employees. These
Piutang ini dibayarkan melalui pemotongan gaji receivables are collected through monthly payroll 2025 2024
setiap bulan. deductions.
Pacific Medco Solar Energy Pte Pacific Medco Solar Energy Pte
Porsi jangka panjang dari piutang lain-lain - pihak Long-term portion of other receivables - third Ltd 71.676.670.113 62.710.869.152 Ltd
ketiga merupakan piutang karyawan yang jatuh parties represent receivables from employees PT Medcopower Solar PT Medcopower Solar
tempo dalam 2-5 tahun. which is due in 2-5 years. Sumbawa 6.178.086.968 9.075.123.605 Sumbawa
Piutang dari PT PLN Tanjung Jati B merupakan Receivable from PT PLN Tanjung Jati B represents Sarulla Geothermal Operation Sarulla Geothermal Operation
piutang yang tidak dikenakan bunga sehubungan non-interest bearing receivables related to the (Grup Kontraktor (Joint Operation Contractor
dengan pembelian suku cadang oleh TJBPS. purchase of spare parts carried by TJBPS. Pengendalian Bersama) Group) (Note 38)
(Catatan 38) 6.130.600.000 6.130.600.000
Piutang bunga terutama merupakan bunga yang Interest receivables mainly represent interest PT Medco Geopower Sarulla 2.200.218.761 1.731.444.761 PT Medco Geopower Sarulla
masih harus diterima atas penempatan deposito accrued on time deposits that have not yet PT Medco E & P Indonesia 462.365.312 7.295.000 PT Medco E & P Indonesia
berjangka yang belum jatuh tempo. matured.
PT Medco Energi Nusantara 6.000.000 6.000.000 PT Medco Energi Nusantara
Piutang dari Ratch Group PCL timbul dari klaim Receivables from Ratch Group PCL arise from PT Medco Daya Abadi Lestari PT Medco Daya Abadi Lestari
penggantian biaya operasional yang telah claims for reimbursement of operational expenses ("MDAL") - 64.802.730.000 ("MDAL")
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. Total 86.653.941.154 144.464.062.518 Total
Berdasarkan penelaahan status akun piutang lain- Based on the review of other receivables accounts Dikurangi bagian tidak lancar 6.136.600.000 6.143.895.000 Less non-current portion
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 Bagian lancar 80.517.341.154 138.320.167.518 Current portion
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 64
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2025 Management Business Company Corporate Sustainability
212 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 213
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH 8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued) BERELASI (lanjutan) RELATED PARTIES (continued)
c. Piutang lain-lain (lanjutan) c. Other receivables (continued) f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi
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 Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
operasional yang dibayarkan oleh Perusahaan activities paid by the Company in connection melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
sehubungan dengan proyek Pulau Bulan. with Pulau Bulan Project. pihak-pihak berelasi. related parties.
Piutang dari PT Medcopower Solar Sumbawa Receivables from PT Medcopower Solar 2025
merupakan uang muka untuk aktivitas Sumbawa represent advances for operational
operasional yang dibayarkan oleh Perusahaan activities paid by the Company in connection Persentase terhadap
sehubungan dengan proyek PLTS Sumbawa. with Sumbawa PV power plant. jumlah terkait (%)/
Jumlah/ Percentage to
Piutang dari GKPB terutama merupakan Receivable from JOCG mainly represent Amount related totals (%)
pengeluaran yang dapat diganti yang reimbursable expenditures advanced by the Aset Assets
dibayarkan di muka oleh Perusahan Company in connection with Sarulla
sehubungan dengan proyek Tenaga Panas Geothermal Power Project. Piutang usaha Trade receivables
Bumi Sarulla. Sarulla Operations Ltd. Sarulla Operations Ltd. (Note
(Catatan 38) 21.029.512.028 0,103 38)
Piutang dari PT Medco Geopower Sarulla Receivables from PT Medco Geopower
merupakan uang muka atas aktivitas Sarulla represent advances for operational Piutang lain-lain Other receivables
operasional PT Medco Geopower Sarulla yang activities of PT Medco Geopower Sarulla paid Pacific Medco Solar Energy Pacific Medco Solar Energy
dibayarkan oleh Perusahaan. by the Company. Pte Ltd 71.676.670.113 0,352 Pte Ltd
Pada tahun 2024, piutang dari PT Medco In 2024, receivable from PT Medco Daya PT Medcopower Solar PT Medcopower Solar
Sumbawa 6.178.086.968 0,030 Sumbawa
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 Sarulla Geothermal Operation
MGeoPS Perusahaan ke MDAL. Piutang ini shares of the Company to MDAL. The (Grup Kontraktor Sarulla Geothermal Operation
telah diselesaikan pada tahun 2025. receivable has been settled in 2025. Pengendalian Bersama) (Joint Operation Contractor
(Catatan 38) 6.130.600.000 0,030 Group) (Note 38)
Berdasarkan penelaahan status akun piutang Based on the review of other receivables as of PT Medco Geopower Sarulla 2.200.218.761 0,011 PT Medco Geopower Sarulla
lain-lain pada tanggal 31 Desember 2025 dan December 31, 2025 and 2024, management is PT Medco E & P Indonesia 462.365.312 0,002 PT Medco E & P Indonesia
2024, manajemen berpendapat bahwa seluruh of the opinion that all of other receivables can
piutang lain-lain tersebut dapat ditagih. be fully collected. PT Medco Energi Nusantara 6.000.000 0,000 PT Medco Energi Nusantara
Liabilitas Liabilities
d. Utang kepada pihak berelasi d. Due to related parties Utang kepada pihak berelasi Due to related parties
Akun ini terdiri dari: This account consists of: PT Medco Energi PT Medco Energi
Internasional Tbk 17.700.588.866 0,132 Internasional Tbk
2025 2024 PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 9.458.018.498 0,071 ("SRB")
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 17.700.588.866 12.428.770.287 Tbk PT Medcopower Solar PT Medcopower Solar
Sumbawa 1.085.735.291 0,008 Sumbawa
PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 9.458.018.498 2.379.402.197 ("SRB") Sarulla Operations Ltd 123.053.790 0,001 Sarulla Operations Ltd
PT Medcopower Solar PT Medcopower Solar PT Medco Energi Nusantara 78.000.000 0,001 PT Medco Energi Nusantara
Sumbawa 1.085.735.291 - Sumbawa PT Api Metra Graha 8.750.584 0,000 PT Api Metra Graha
Sarulla Operations Ltd 123.053.790 132.473.223 Sarulla Operations Ltd Transaksi Transactions
PT Medco Energi Nusantara 78.000.000 78.000.000 PT Medco Energi Nusantara Pendapatan usaha Revenue
PT Api Metra Graha 8.750.584 3.382.935.689 PT Api Metra Graha Sarulla Operations Ltd 129.343.156.004 4,411 Sarulla Operations Ltd
Total 28.454.147.029 18.401.581.396 Total PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 192.000.000 0,007 Tbk
Utang kepada pihak berelasi merupakan uang The amount payable to related parties Beban operasional Operating expense
muka dan biaya untuk kegiatan operasional represents advances and charges for PT Api Metra Graha 15.129.329.615 2,213 PT Api Metra Graha
yang dibayarkan oleh pihak berelasi atas operational activities paid by related parties on
nama Perusahaan. behalf of the Company. 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
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).
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2025 Management Business Company Corporate Sustainability
214 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 215
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH 8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued) BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued) pihak berelasi (lanjutan) (continued)
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
pihak-pihak berelasi. (lanjutan) related parties. (continued) pihak-pihak berelasi. (lanjutan) related parties. (continued)
2024 2024
Persentase terhadap Persentase terhadap
jumlah terkait (%)/ jumlah terkait (%)/
Jumlah/ Percentage to Jumlah/ Percentage to
Amount related totals (%) Amount related totals (%)
Aset Assets Transaksi Transactions
Kas dan setara kas Cash and cash equivalents Pendapatan usaha Revenue
PT Bank Woori Saudara PT Bank Woori Saudara Sarulla Operations Ltd 125.474.653.214 3,836 Sarulla Operations Ltd
Indonesia 1906 Tbk *) 1.058.970.679.099 5,752 Indonesia 1906 Tbk *) PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 192.000.000 0,006 Tbk
Piutang usaha Trade receivables
PT Medco E & P Lematang 162.049.958 0,005 PT Medco E & P Lematang
Sarulla Operations Ltd. (Catatan
38) 30.124.429.334 0,164 Sarulla Operations Ltd. (Note 38) Beban pokok pendapatan Cost of revenues
Piutang lain-lain Other receivables PT Exspan Petrogas Intranusa 43.837.579.078 2,110 PT Exspan Petrogas Intranusa
PT Medco Daya Abadi Lestari PT Medco Daya Abadi Lestari
("MDAL") 64.802.730.000 0,352 ("MDAL") Beban operasional Operating expense
Pacific Medco Solar Energy Pte Pacific Medco Solar Energy Pte PT Api Metra Graha 15.719.130.921 2,574 PT Api Metra Graha
Ltd 62.710.869.152 0,341 Ltd PT Satria Raksa Buminusa 11.479.275.728 0,553 PT Satria Raksa Buminusa
PT Medcopower Solar PT Medco Energi PT Medco Energi Internasional
Sumbawa 9.075.123.605 0,049 PT Medcopower Solar Sumbawa Internasional Tbk 497.303.908 0,082 Tbk
Sarulla Geothermal Operation
(Grup Kontraktor Sarulla Geothermal Operation Beban bunga Interest expense
Pengendalian Bersama) (Joint Operation Contractor PT Bank Woori Saudara PT Bank Woori Saudara
(Catatan 38) 6.130.600.000 0,033 Group) (Note 38) Indonesia 1906 Tbk *) 1.958.428.511 0,285 Indonesia 1906 Tbk *)
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 2025 2024
Liabilitas Liabilities Pendapatan Revenues
Utang kepada pihak berelasi Due to related parties Sarulla Operations Ltd. 129.343.156.004 125.474.653.214 Sarulla Operations Ltd.
PT Medco Energi Internasional PT Medco Energi Internasional PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 12.428.770.287 0,106 Tbk Tbk 192.000.000 192.000.000 Tbk
PT Api Metra Graha 3.382.935.689 0,029 PT Api Metra Graha PT Medco E & P Lematang - 162.049.958 PT Medco E & P Lematang
PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 2.379.402.197 0,020 ("SRB") Beban Expenses
Sarulla Operations Ltd 132.473.223 0,001 Sarulla Operations Ltd PT Satria Raksa Buminusa 64.415.104.806 11.479.275.728 PT Satria Raksa Buminusa
PT Medco Energi Nusantara 78.000.000 0,001 PT Medco Energi Nusantara PT Api Metra Graha 15.129.329.615 15.719.130.921 PT Api Metra Graha
PT Medco Energi Internasional PT Medco Energi Internasional
Pinjaman jangka panjang Long-term debt Tbk 6.982.184.738 497.303.908 Tbk
PT Bank Woori Saudara PT Bank Woori Saudara PT Exspan Petrogas Intranusa - 43.837.579.078 PT Exspan Petrogas Intranusa
Indonesia 1906 Tbk *) 52.526.500.000 0,444 Indonesia 1906 Tbk *)
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk *) - 1.958.428.511 Indonesia 1906 Tbk *)
67 68
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2025 Management Business Company Corporate Sustainability
216 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 217
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH 8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued) BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued) g. Gaji dan remunerasi lainnya g. Salaries and other remuneration
Gaji dan remunerasi lainnya dari manajemen Salaries and other remuneration of the key
Rincian pihak berelasi dan sifat hubungan dan The related parties and the nature of kunci untuk tahun yang berakhir 31 Desember management personnel for the years ended
jenis transaksi signifikan antara Grup dengan significant transactions between the Group 2025 dan 2024 adalah sebagai berikut: December 31, 2025 and 2024 are as follows:
pihak berelasi adalah sebagai berikut: and related parties are as follows:
2025 2024
Pihak berelasi/ Sifat Hubungan/ Jenis transaksi/ Nature of
Related Party Nature of Relationship Transactions Imbalan jangka pendek 29.077.845.810 32.598.735.693 Short-term employee benefits
PT Medco Daya Abadi Lestari Entitas induk tidak langsung dari Penjualan kepemilikan saham/ Provisi imbalan pasca kerja Provision for employee service
Perusahaan/ Indirect parent entity of the Sale of shares 4.051.961.000 3.834.386.000 entitlements
Company Imbalan pesangon - 2.615.608.607 Termination benefit
PT Medco Energi Internasional Tbk Entitas induk langsung dari Perusahaan/ Uang muka/ Advances
Direct parent entity of the Company Total 33.129.806.810 39.048.730.300 Total
PT Bank Woori Saudara Indonesia 1906 Pihak berelasi yang memiliki pemegang Penempatan dan fasilitas
Tbk *) saham yang sama dengan Perusahaan/ kredit/ Fund placement and 9. PERSEDIAAN 9. INVENTORIES
Related party having the same credit facilities
shareholder as the Company Akun ini terdiri dari: This account consists of:
PT Medco Energi Nusantara Pihak berelasi yang memiliki pemegang Uang muka/ Advances
saham yang sama dengan Perusahaan/
Related party having the same 2025 2024
shareholder as the Company
Suku cadang 68.222.341.442 65.866.471.033 Spare parts
PT Medco E & P Lematang Pihak berelasi yang memiliki pemegang Penjualan listrik/ Sales of
saham yang sama dengan Perusahaan/ electric power Barang habis pakai 36.213.302.249 33.950.437.255 Consumables
Related party having the same Total Total
shareholder as the Company 104.435.643.691 99.816.908.288
PT Api Metra Graha Pihak berelasi yang memiliki pemegang Sewa/ Rent
saham yang sama dengan Perusahaan/ Rincian persediaan yang telah digunakan dan The details of inventories used and expensed are
Related party having the same dibebankan adalah sebagai berikut: (Catatan 33) as follows: (Note 33)
shareholder as the Company
PT Exspan Petrogas Intranusa Pihak berelasi yang memiliki pemegang Jasa pengeboran panas bumi/ 2025 2024
saham yang sama dengan Perusahaan/ Geothermal drilling services
Related party having the same Suku cadang 20.776.340.173 21.900.369.790 Spare parts
shareholder as the Company
Barang habis pakai 40.539.668.167 32.047.673.104 Consumables
Sarulla Operations Ltd. Ventura bersama/Joint venture Jasa operasi dan
pemeliharaan/Operation and Total 61.316.008.340 53.948.042.894 Total
maintenance services
Sarulla Geothermal Operation (Grup Ventura bersama/ Joint venture Uang muka/ Advances Berdasarkan hasil penelaahan terhadap harga Based on a review of the market prices and
Kontraktor Pengendalian Bersama)
("GKPB")/Sarulla Geothermal Operation pasar dan kondisi fisik persediaan pada tanggal physical conditions of the inventories at the
(Joint Operation Contractor Group) pelaporan, manajemen berkeyakinan bahwa tidak reporting dates, management is of the opinion that
("JOCG") terdapat penurunan nilai persediaan. no impairment on inventories has occurred.
PT Medco E & P Indonesia Pihak berelasi yang memiliki pemegang Uang muka/ Advances Pada tanggal 31 Desember 2025 dan 2024, tidak As of December 31, 2025 and 2024, there are no
saham yang sama dengan Perusahaan/ ada persediaan yang dijadikan jaminan atas utang inventories that are pledged as collateral to loans
Related party having the same
shareholder as the Company dan pinjaman lainnya. and other borrowings.
PT Satria Raksa Buminusa Pihak berelasi yang memiliki pemegang Jasa keamanan/ Security
saham yang sama dengan Perusahaan/ services Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the Group’s
Related party having the same persediaan Grup telah diasuransikan terhadap inventories are covered by insurance against
shareholder as the Company risiko kerugian akibat kebakaran, banjir, gempa losses by fire, flood, earthquake and other risks
Pacific Medco Solar Energy Pte Ltd. Ventura bersama/ Joint venture Uang muka/ Advances 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.
PT Medco Geopower Sarulla Entitas asosiasi/Associate entity Uang muka/Advances risiko-risiko tersebut.
PT Medcopower Solar Sumbawa Ventura bersama/Joint venture Uang muka/Advances 10. PAJAK DIBAYAR DI MUKA 10. PREPAID TAXES
*) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 *) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk Akun ini terdiri dari lebih bayar pajak pertambahan This account represents value added tax
Tbk tidak lagi diklasifikasikan sebagai pihak berelasi bagi Grup. ceased to be a related party of the Group. nilai yang dikompensasikan ke masa pajak overpayment which are compensated into the next
berikutnya. tax period.
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2025 Management Business Company Corporate Sustainability
218 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 219
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
11. PIUTANG SEWA PEMBIAYAAN 11. FINANCE LEASE RECEIVABLES 11. PIUTANG SEWA PEMBIAYAAN (lanjutan) 11. FINANCE LEASE RECEIVABLES (continued)
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, Selisih pengukuran kembali aset sewa pembiayaan The difference in remeasurement of finance lease
MEB dan ELB dengan PLN Batam (Catatan 38), MEB and ELB with PLN Batam (Note 38), EPE and akibat perpanjangan masa operasi pembangkit PT assets due to the extension of the operating period
EPE dan MPE dengan PT PLN WS2JB (Catatan MPE with PT PLN WS2JB (Note 38) and BJI and DEB dan PT ELB dengan provisi kewajiban of PT DEB and PT ELB power plants with the
38) dan BJI dan PPP dengan PT PLNUIDJB PPP with PT PLNUIDJB (Note 38) contain a lease overhaul dan pemeliharaan besar selama periode provision for major repairs and maintenance
(Catatan 38) mengandung sewa dan mencakup and covering most of the economic life of the asset perpanjangan, dengan total sebesar obligations during the extension period, amounting
sebagian besar umur ekonomi aset dan pada awal and at the beginning of the lease, the present value Rp86.060.247.410, diakui sebagai keuntungan atas to Rp86,060,247,410, is recognized as a gain on
sewa, nilai kini dari total pembayaran sewa of the total minimum lease payments substantially modifikasi aset keuangan dan disajikan dalam modification of financial assets and presented in
minimum secara substansial mendekati nilai wajar approximates the fair value of the leased asset. pendapatan lain-lain pada laporan laba rugi dan other income in the consolidated statement of profit
aset sewaan, sehingga Grup membukukan Accordingly, the Group recognized the transaction penghasilan komprehensif konsolidasian untuk or loss and comprehensive income for the year
transaksi tersebut sebagai sewa pembiayaan as finance lease as follows: tahun yang berakhir pada 31 Desember 2025 ended December 31, 2025 (Note 35).
sebagai berikut: (Catatan 35).
2025 2024 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
Kurang dari satu tahun 517.810.143.956 385.226.993.772 Within one year
sewa pembiayaan sehubungan dengan terjadinya finance lease receivables due to decrease of the
Lebih dari satu tahun sampai lima After one year but not more than penurunan pengiriman listrik pada tahun berjalan current year electricity delivered and the expected
tahun 1.854.039.212.124 943.325.583.610 five years dan ekspektasi pada tahun-tahun berikutnya delivery electricity in the future years each
Lebih dari lima tahun 3.926.556.141.339 1.088.430.308.359 More than five years 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).
Total pembayaran sewa
minimum 6.298.405.497.419 2.416.982.885.741 Total minimum lease payments
Berdasarkan penelaahan status akun piutang sewa Based on review of financial lease receivables at
Dikurangi pendapatan keuangan Less amounts representing pembiayaan pada akhir tahun, manajemen the end of the year, management is of the opinion
yang belum diterima 3.466.032.542.248 1.040.624.900.590 unearned finance income berpendapat bahwa kerugian penurunan nilai yang that the impairment loss recognized for the years
Piutang sewa pembiayaan - neto 2.832.372.955.171 1.376.357.985.151 Finance lease receivables - net 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
Dikurangi bagian yang akan jatuh kemungkinan kerugian dan jumlah tercatat piutang the financial lease receivables as of December 31,
tempo dalam satu tahun - neto (204.813.430.812) (223.035.633.301) Less current maturities - net sewa pembiayaan pada tanggal 31 Desember 2025 2025 and 2024 are realizable.
Bagian jangka panjang 2.627.559.524.359 1.153.322.351.850 Non-current portion dan 2024 dapat direalisasikan.
Pada tanggal 31 Desember 2025 dan 2024, piutang As of December 31, 2025 and 2024, all finance 12. BEBAN DIBAYAR DI MUKA DAN UANG MUKA 12. PREPAID EXPENSES AND ADVANCES
sewa pembiayaan telah diasuransikan kepada lease receivables were insured with various Akun ini terdiri dari: This account consists:
berbagai perusahaan asuransi (Catatan 18). insurance companies (Note 18). Management
Manajemen memiliki keyakinan bahwa nilai believes that the insurance coverage is adequate to 2025 2024
pertanggungan cukup untuk menutupi kemungkinan cover possible losses on the assets insured.
kerugian atas aset yang dipertanggungkan. 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
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 Sewa fasilitas dibayar di muka 9.561.080.788 6.338.993.861 Prepaid rental facilities
3% - 50% per tahun sesuai dengan estimasi annum in accordance with the estimated invoices to Lain-lain 1.243.612.660 1.753.198.181 Others
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. Total 55.057.217.181 241.033.084.893 Total
pembangkit.
Pada tanggal 6 Maret 2025, PT DEB dan PLN On March 6, 2025, PT DEB and PLN Batam have Uang muka untuk proyek terutama merupakan Advances for project mainly represents advance
Batam telah menandatangani amendemen signed an amendment to the Power Purchase uang muka yang dibayarkan kepada pihak ketiga payment to third parties in respect of potential
Perjanjian Pembelian Tenaga Listrik untuk Agreement (PPA) to change several key provisions, sehubungan dengan investasi potensial yang investments which are under review by the Group.
mengubah beberapa ketentuan utama, termasuk including adjustments to the electricity selling price sedang ditinjau oleh Grup.
penyesuaian harga jual listrik dan perpanjangan and extension of the generator operating period Asuransi dibayar di muka terutama terdiri dari Prepaid insurance mainly consists of prepaid
masa operasi pembangkit sampai dengan tanggal until March 31, 2030. asuransi dibayar di muka untuk aset tetap. insurance for property, plant and equipment.
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 72
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2025 Management Business Company Corporate Sustainability
220 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 221
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
13. ASET KEUANGAN KONSESI 13. CONCESSION FINANCIAL ASSETS 14. ASET HAK-GUNA 14. RIGHT-OF-USE ASSETS
Berdasarkan evaluasi manajemen, syarat pada Based on management evaluation, the terms of the Grup menyewa beberapa aset termasuk tanah, The Group leases several assets including land,
Perjanjian Jual Beli Tenaga Listrik antara PT PLN Power Purchase Agreement between PT PLN bangunan, peralatan kantor dan kendaraan, yang building, office equipment and vehicles which
(Persero) dengan MRPR, MCG dan MSBT (Persero) and MRPR, MCG and MSBT met the pada umumnya memiliki masa sewa antara 1 generally has lease term between 1 to 29 years.
memenuhi syarat sebagai perjanjian konsesi jasa, requirement for service concession arrangement. sampai 29 tahun.
sehingga Manajemen membukukan transaksi Accordingly, Management accounts such Grup mempunyai sewa tertentu dengan masa sewa The Group also has certain leases with lease terms
tersebut sebagai aset konsesi keuangan. transactions as concession financial assets. The 12 bulan atau kurang dan sewa bernilai rendah. of 12 months or less and low value leases. The
Perubahan dalam aset konsesi keuangan selama movements in the concession financial assets Grup menerapkan pengecualian pengakuan sewa Group applies the short-term lease and lease of low
2025 dan 2024 adalah sebagai berikut: during 2025 and 2024 are as follows: jangka pendek dan sewa bernilai rendah untuk value assets recognition exemptions for these
sewa tersebut. leases.
2025 2024
Nilai tercatat untuk aset hak-guna adalah sebagai The carrying amount of right-of-use assets are as
Saldo awal 9.390.218.328.683 7.617.955.501.928 Beginning balance
berikut: follows:
Penambahan: Additional:
Pendapatan konstruksi Construction revenue 2025
(Catatan 16 dan 32) 276.415.069.030 1.277.391.832.748 (Notes 16 and 32)
Bangunan dan
Pendapatan keuangan dari Finance income from service prasarana/
konsesi jasa (Catatan 32) 618.503.186.368 599.131.107.411 concession (Note 32) Tanah/ Building and land Kendaraan/ Jumlah/
Penerimaan dari PLN (752.860.905.735) (500.049.060.600) Collection from PLN Land improvement Vehicles Total
Selisih kurs karena penjabaran Saldo awal 4.340.771.811 2.315.342.282 14.298.886.634 20.955.000.727 Beginning balance
laporan keuangan 362.700.676.934 395.788.947.196 Translation adjustments Penambahan 1.198.557.570 46.167.550.908 4.080.431.415 51.446.539.893 Additions
Total 9.894.976.355.280 9.390.218.328.683 Total 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
Penyisihan kerugian kredit Allowance for expected credit
ekspektasian (4.435.780.106) (4.435.780.106) losses Translasi 43.074.968 567.496.928 (261.642.943) 348.928.953 Translation
Neto 9.890.540.575.174 9.385.782.548.577 Net Saldo akhir 4.800.973.694 38.755.327.378 12.192.057.786 55.748.358.858 Ending balance
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 2024
Bangunan dan
prasarana/
Aset keuangan konsesi pada tanggal 31 Desember Concession financial assets as of December 31, Tanah/ Building and land Kendaraan/ Jumlah/
Land improvement Vehicles Total
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. Saldo awal 5.170.414.230 12.820.883.778 9.513.389.314 27.504.687.322 Beginning balance
keuangan konsesi pada tanggal 31 Desember 2024 Concession financial assets as of December 31, Penambahan - 160.000.000 9.661.671.231 9.821.671.231 Additions
terdiri dari aset kontrak sebesar 2024, consist of contract assets amounting to
Penyusutan - (11.652.697.514) (4.473.870.835) (16.126.568.349) Depreciation
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 Translasi (829.642.419) 987.156.018 (402.303.076) (244.789.477) Translation
piutang sebesar Rp5.140.896.715.296 yang berasal amounting to Rp5,140,896,715,296 from MRPR Saldo akhir 4.340.771.811 2.315.342.282 14.298.886.634 20.955.000.727 Ending balance
dari MRPR yang sudah dalam masa operasi which is already in commercial operation.
komersial.
Berikut ini merupakan jumlah yang diakui dalam The following are the amounts recognized in profit
Berdasarkan penelaahan status akun aset Based on the review of concession financial assets laba rugi: or loss:
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 2025 2024
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. Beban depresiasi untuk aset hak Depreciation expense of right-of-
guna 16.644.412.355 16.126.568.349 use assets
tidak tertagihnya akun-akun tersebut.
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.
73 74
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2025 Management Business Company Corporate Sustainability
222 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 223
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG 15. LONG-TERM INVESTMENTS 15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
. .
Akun ini terdiri dari sebagai berikut: This account consists of the following:
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 Nilai tercatat 1 Nilai tercatat 31 2025
kepemilikan/ Januari 2025/ Penyesuaian nilai Desember 2025/
Percentage of Carrying value Perubahan ekuitas/ wajar / Fair value Carrying value 31 Persentase Pendapatan
ownership January 1, 2025 Equity changes adjustments Desember 2025 kepemilikan/ komprehensif lain/
Percentage of Laba tahun berjalan/ Other comprehensive
Metode ekuitas/Equity method ownership Profit for the year income Jumlah/ Total
Entitas asosiasi/Associate Metode ekuitas/Equity method
PT Medco Geopower Sarulla Entitas Asosiasi/Associate
("MGeoPS") 49,00 % 2.387.396.853.847 94.776.552.335 - 2.482.173.406.182
PT Medco Geopower Sarulla
Ventura Bersama/Joint ("MGeoPS") 49,00 % 57.938.958.242 36.837.594.093 94.776.552.335
Venture
PT Medcopower Solar Ventura Bersama/Joint Venture
Sumbawa ("MPSOS") 50,00 % 68.132.880.279 2.908.462.653 - 71.041.342.932 PT Medcopower Solar Sumbawa
Pacific Medco Solar Energy ("MPSoS") 50,00 % 2.908.462.653 - 2.908.462.653
Pte. Ltd. ("PMSE") 37,00 % - - - - Pacific Medco Solar Energy Pte.
Ltd. ("PMSE") 37,00 % - - -
Metode nilai wajar/Fair value
method Total 60.847.420.895 36.837.594.093 97.685.014.988
PT Teknologi Data
Infrastruktur (TDI) 3,28 % 67.337.450.000 - (9.722.157.687) 57.615.292.313 2024
Persentase Pendapatan
Total 2.522.867.184.126 97.685.014.988 (9.722.157.687) 2.610.830.041.427 kepemilikan/ Laba (rugi) tahun komprehensif lain/
Percentage of berjalan/ Profit (loss) Other comprehensive
ownership for the year income Jumlah/ Total
Metode ekuitas/Equity method
2024 Entitas Asosiasi/Associate
Persentase Nilai tercatat 1 Penambahan/ Penyesuaian Nilai tercatat 31 PT Medco Geopower Sarulla
kepemilikan/ Januari 2024/ Additions Penambahan nilai wajar/ Desember 2024/ (MGeoPS) 49,00 % 39.896.623.195 90.272.977.667 130.169.600.862
Percentage of Carrying value (Pengurangan)/ ekuitas/ Equity Fair value Carrying value
ownership January 1, 2024 (Deductions) changes adjustments December 31, 2024 Ventura Bersama/Joint Venture
Metode ekuitas/Equity PT Medcopower Solar Sumbawa
method (MPSoS) 50,00 % 3.705.584.647 - 3.705.584.647
Entitas Asosiasi/ Pacific Medco Solar Energy Pte.
Associate Ltd. ("PMSE") 37,00 % - - -
PT Medco Total 43.602.207.842 90.272.977.667 133.875.185.509
Geopower Sarulla
(MGeoPS) 49,00 % 2.257.227.252.985 - 130.169.600.862 - 2.387.396.853.847
Ventura Bersama/
Tabel berikut menyajikan ringkasan informasi The following table illustrates the summarized
Joint Venture keuangan entitas asosiasi dan ventura bersama: financial information of the associate and the joint
PT Medcopower
venture:
Solar Sumbawa
(MPSoS) 50,00 % 64.427.295.632 - 3.705.584.647 - 68.132.880.279 2025 (dalam jutaan/in millions)
Pacific Medco Solar Ekuitas Bagian Grup
Energy Pte. Ltd. Liabilitas Liabilitas entitas Persentase atas aset Nilai tercatat
("PMSE") 37,00 % - - - - - Aset tidak jangka jangka induk/ kepemilikan/ neto/ The Penyesuaian investasi/
Aset lancar/ lancar/ Non- pendek/ panjang/ Equity of Percentage Group's ekuitas/ Investment
Metode nilai wajar/Fair Current current Current Non-current parent of share of net Equity carrying
value method assets assets liabilities liabilities company ownership assets adjustment value
PT Teknologi Data Entitas Asosiasi/
Infrastruktur (TDI) 5,00 % 30.999.913.788 40.250.000.000 - (3.912.463.788) 67.337.450.000 Associate
PT Medco
Total 2.352.654.462.405 40.250.000.000 133.875.185.509 (3.912.463.788) 2.522.867.184.126 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
75 76
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2025 Management Business Company Corporate Sustainability
224 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 225
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued) 15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
. . . .
Tabel berikut menyajikan perubahan ekuitas pada The following table illustrates the equity changes in a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method
entitas asosiasi dan ventura bersama: (lanjutan) an associate and a joint venture: (continued) metode ekuitas (lanjutan) (continued)
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
2024 (dalam jutaan/in millions) (lanjutan) (continued)
Bagian Grup
Liabilitas Liabilitas Ekuitas Persentase atas aset Nilai tercatat Pada tanggal 27 Maret 2025, 27 September On March 27, 2025, September 27, 2024,
Aset lancar/
Aset tidak
lancar/ Non-
jangka
pendek/
jangka
panjang/
entitas
induk/Equity
kepemilikan/
Percentage
neto/ The
Group's
Penyesuaian
ekuitas/
investasi/
Investment
2024, 30 Maret 2022, 3 Oktober 2022 dan 30 March 30, 2022, October 3, 2022 and March
Current current Current Non-current of parent of share of net Equity carrying Maret 2023, SOL telah menginformasikan 30, 2023, SOL has informed the Lenders that
assets assets liabilities liabilities company ownership assets adjustment value kepada Pemberi Pinjaman bahwa Debt the minimum required historical Debt Service
Entitas Service Coverage Ratio historis, masing- Coverage Ratio on the Calculation Date of
Asosiasi/
Associate
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,
PT Medco
Geopower
September 2022 dan 24 Maret 2023 telah 2023, respectively, was met. SOL has also
Sarulla mencapai nilai yang dipersyaratkan. SOL juga continuously inform the lender of the situation
(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 telah menginformasikan perkembangan situasi developments.
kepada Pemberi Pinjaman.
Ventura Bersama/
Joint Venture
Dengan mempertimbangkan tindakan yang Taking into account the ongoing actions to
PT
Medcopower
sedang berlangsung untuk memperbaiki repair the well and associated production
Solar sumur dan fasilitas produksi terkait, termasuk facilities, including preparing for a long-term
Sumbawa
(MPSoS) 51.849 256.251 24.551 162.273 121.276 50,00 % 60.638 7.495 68.133
mempersiapkan rencana perbaikan jangka recovery plan and achieved the above
panjang serta terpenuhinya ketentuan financial covenants as of September 24, 2024.
Pacific Medco SOL's management believes that the lenders
Solar Energy keuangan pada tanggal 24 September 2024,
Pte. Ltd. manajemen SOL berkeyakinan bahwa will not exercise their rights to take over the
("PMSE") 109.629 60.910 188.865 - (18.326) 37,00 % (6.781) 6.781 - SOL project or require SOL to repay
pemberi pinjaman tidak akan menggunakan
Total 1.660.741 7.538.657 4.428.901 1.173.425 3.597.072 1.765.977 689.553 2.455.530 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
Entitas asosiasi dan ventura bersama tidak The associates and joint venture had no capital bulan ke depan, walaupun batasan DSCR di required ratio value and not yet obtained the
mempunyai komitmen modal dan liabilitas commitments or contingent liabilities as of periode tertentu selama tahun 2020 - 2024 di waiver from creditors.
kontinjensi pada tanggal 31 Desember 2025 dan December 31, 2025 and 2024. bawah nilai rasio yang dipersyaratkan dan
2024. belum mendapatkan pembebasan (waiver)
dari para kreditur.
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 SOL telah memperoleh persetujuan Pemberi SOL has obtained the Lenders’ approval on
mengalihkan dana kepada Grup. to the Group. 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
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method sepakat untuk menerbitkan Standby Letter of Letter of Credit (“SBLC”) to guarantee the
metode ekuitas Credit (“SBLC”) untuk memastikan terpenuhi fulfillment of SOL’s payment terms to the
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”) kewajiban pembayaran SOL kepada pemberi Lenders in accordance to the loan agreement
pinjaman selama periode pelaksanaan during the long-term recovery period.
Pada tanggal 18 Mei 2021, Perusahaan On May 18, 2021, the Company divested 2% perbaikan jangka panjang tersebut. Pemulihan Restoration of interest in SOL is dependent on
melakukan divestasi sebesar 2% saham of its share ownership in MGeoPS to PT kepentingan di SOL bergantung kepada risiko risk and uncertainty over the success of
kepemilikan pada MGeoPS kepada PT Medco Medco Daya Abadi Lestari, the Company’s dan ketidakpastian atas keberhasilan running a long-term improvement effort. The
Daya Abadi Lestari, entitas induk Perusahaan. parent entity. After the divestment, the menjalankan usaha perbaikan jangka panjang. carrying amount of the interest in SOL does
Setelah divestasi tersebut, Perusahaan Company revalued the 49% share ownership Nilai tercatat atas kepentingan di SOL tidak not include any adjustments that may arise
mengukur kembali 49% kepemilikan saham in MGeoPS at fair value. Subsequent to the mencakup penyesuaian yang mungkin timbul from these uncertainties.
pada MGeoPS pada nilai wajar. Setelah divestment, the investment is accounted using dari ketidakpastian tersebut.
divestasi, investasi dicatat menggunakan equity method.
metode ekuitas. 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
Pada tanggal 27 September 2025, Agen On September 27, 2025, Global Facility Agent membagikan dividen kepada para pemegang dividends to its shareholders without written
Fasilitas Global Facility Agent (“GFA”) (“GFA”) announced the existence of Event of sahamnya tanpa persetujuan tertulis dari consent from the bank.
menyampaikan bahwa telah terjadi Peristiwa Default due to the historic Debt Service bank.
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 78
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2025 Management Business Company Corporate Sustainability
226 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 227
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued) 15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures – equity method
metode ekuitas (lanjutan) (continued) metode ekuitas (lanjutan) (continued)
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”) PT Medcopower Solar Sumbawa PT Medcopower Solar Sumbawa
(lanjutan) (continued) (“MPSoS”) (“MPSoS”)
Untuk tujuan pengujian penurunan nilai pada For impairment testing purposes on December Pada tanggal 13 Desember 2022, PT On December 13, 2022, PT Medcopower
tanggal 31 Desember 2025 dan 2024, 31, 2025 and 2024, the calculation of Medcopower Energi Baru (“MPEB”) Energi Baru (“MPEB”) divested 50% of its
perhitungan jumlah terpulihkan investasi pada recoverable amount of the investment in melakukan divestasi sebesar 50% saham share ownership in MPSoS to PT Amman
penyertaan saham di MGeoPS berdasarkan shares of stock in MGeoPS is based on kepemilikan pada MPSoS kepada PT Amman Mineral Internasional (“AMI”). After the
proyeksi arus kas yang didiskontokan dari discounted cash flow projections from the Mineral Internasional (“AMI”). Setelah divestment, MPEB revalued the 50% share
rencana bisnis yang mencakup periode business plan covering long-term contract divestasi tersebut, MPEB mengukur kembali ownership in MPSoS at fair value. Subsequent
kontrak jangka panjang. Penilaian tersebut period. The assessment require the use of 50% kepemilikan saham pada MPSoS pada to the divestment, the investment is accounted
memerlukan penggunaan estimasi dan asumsi estimates and assumptions such as discount nilai wajar. Setelah divestasi, investasi dicatat using equity method since the Group has joint
seperti tingkat diskonto, cadangan, beban rate, reserves, capital expenses, operating menggunakan metode ekuitas karena Grup control on MPSoS, with reference to PSAK
modal, biaya operasi dan kinerja operasi costs and operating performance (which memiliki pengendalian bersama di MPSoS, 111.
(termasuk volume produksi dan penjualan). includes production and sales volumes). The dengan mengacu pada PSAK 111.
Jumlah terpulihkan dihitung oleh penilai recoverable amount is calculated by an
independen. Perhitungan nilai wajar independent appraiser. The calculation of fair Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024,
dikategorikan level 3 dari hirarki nilai wajar. value is categorized level 3 of the fair value manajemen berpendapat bahwa tidak ada management is of the opinion that there is no
hierarchy. indikator penurunan nilai di investasi di impairment indicator in the investment in
MPSoS. MPSoS.
Asumsi-asumsi utama yang digunakan Key assumptions used
Pacific Medco Solar Energy Pte. Ltd. Pacific Medco Solar Energy Pte. Ltd.
Paragraf berikut menunjukkan informasi The following paragraph shows the information (“PMSE”) (“PMSE”)
tentang input signifikan yang tidak dapat about significant unobservable inputs.
diobservasi. a. Discount rate PMSE adalah perseroan terbatas swasta yang PMSE is a private limited liability company
a. Tingkat diskonto As of December 31, 2025 and 2024, the didirikan oleh PacificLight Renewables Pte. incorporated by PacificLight Renewables Pte.
Pada tanggal 31 Desember 2025 dan pre-tax discount rate applied to the cash Ltd., Medco Power Global Pte. Ltd., dan Ltd., Medco Power Global Pte. Ltd. and
2024, tingkat diskonto sebelum pajak yang flow projection are ranging from Gallant Venture Ltd., yang terdaftar di Gallant Venture Ltd., which are incorporated in
diterapkan pada proyeksi arus kas masing- 6.80% - 8.24% and 6.74% - 8.18%, Singapura. Aktivitas utama PMSE adalah Singapore. The principal activity of PMSE is to
masing sebesar 6,74% sampai 8,18% dan respectively. menghasilkan listrik dari sumber lain. generate electricity by other sources.
6,74% sampai 8,18%. Pada 31 Desember 2025 dan 2024, PMSE As of December 31, 2025 and 2024, PMSE
b. Pengeluaran modal, biaya operasi dan b. Capital expenses, operating costs and mengalami ekuitas negatif (defisit), masing- experienced negative equity (deficit),
kinerja operasi operating performances masing, sebesar Rp14.515.757.305 dan amounting to Rp14,515,757,305 and
Asumsi-asumsi ini didasarkan pada kinerja These assumptions are based on the Rp18.326.418.578, yang mana bagian Grup Rp18,326,418,578, respectively, whereby the
operasi MGeoPS, beban modal dan MGeoPS’s operating performance, capital atas kerugian PMSE telah melebihi nilai Group's share of PMSE's losses has
rencana anggaran. expenses and budget plan. tercatat investasi. Karena Group tidak memiliki exceeded the carrying amount of the
c. Tarif listrik c. Electricity tariff kewajiban konstruktif atau hukum untuk investment. Since the Group has no
Asumsi ini didasarkan pada kontrak These assumptions are based on menutupi kerugian tersebut, sesuai dengan constructive or legal obligation to cover these
penjualan listrik dengan PLN. electricity sales contract with PLN. PSAK 228, maka investasi pada PMSE losses, in accordance with PSAK 228, the
Perubahan asumsi yang digunakan oleh Changes to the assumptions used by the dilaporkan Nihil pada tanggal 31 Desember investment in PMSE is reported as Nil as of
manajemen untuk menentukan nilai wajar, management to determine the fair value, in 2025 dan 2024. December 31, 2025 and 2024.
khususnya tingkat diskonto, dapat berdampak particular the discount rate, can have Karena saldo investasi telah turun hingga nihil, Since the investment balance has decreased
signifikan terhadap hasil penilaian nilai wajar. significant impact on the result of the fair value sesuai dengan ketentuan PSAK 228, Group to nil, in accordance with PSAK 228, the
assessment. tidak mengakui bagian Group atas keuntungan Group does not recognize the Group's share
Manajemen berpendapat bahwa tidak ada Management is of the opinion that there was dan kerugian PMSE untuk tahun 2025 dan of PMSE's gains and losses for the year 2025
kemungkinan perubahan yang wajar atas no reasonably possible change in any of the 2024, masing-masing, sebesar and 2024, amounting to Rp1,992,509,257 and
salah satu asumsi utama yang disebutkan di key assumptions stated above that would Rp1.992.509.257 dan Rp482.890.080. Bagian Rp482,890,080, respectively. The Group's
atas yang akan menyebabkan jumlah tercatat cause the carrying amount to materially Group atas akumulasi kerugian PMSE yang share of the accumulated unrecognized PMSE
secara material melebihi jumlah exceed its recoverable amount. As of belum diakui hingga 31 Desember 2025 losses as of December 31, 2025 is
terpulihkannya. Pada tanggal 31 Desember December 31, 2025 and 2024, the adalah sebesar Rp14.515.757.305. Rp14,515,757,305.
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 80
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2025 Management Business Company Corporate Sustainability
228 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 229
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued) 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
b. Investasi ekuitas pada nilai wajar melalui b. Equity investments at fair value through other ini merupakan akumulasi biaya terkait dengan represents accumulated costs relating to the
penghasilan komprehensif lain comprehensive income penyelidikan umum, pengeluaran geologi dan general investigation, geological and geophysical
geofisika, survei topografi, studi lingkungan dan expenditures, topographic survey, environmental
Grup memiliki investasi saham (saham tidak The Group has investments in shares of stock biaya lainnya yang dikeluarkan untuk study and other costs incurred to develop the
diperdagangkan) yang diklasifikasikan oleh (unlisted shares) that are classified by the mengembangkan area Proyek Panas Bumi Bonjol Bonjol Geothermal Project, located in West
Grup sebagai aset keuangan yang diukur Group as financial assets at fair value through yang berlokasi di Provinsi Sumatera Barat. Sumatera Province.
pada nilai wajar melalui penghasilan other comprehensive income in accordance
komprehensif lain sesuai dengan PSAK 109, with PSAK 109, with details as follows: Berdasarkan penelaahan atas aset eksplorasi dan Based on the review of exploration and evaluation
dengan rincian sebagai berikut: 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
PT Teknologi Data Infrastruktur (“TDI”) PT Teknologi Data Infrastruktur (“TDI”) berakhir pada 31 Desember 2025 dan 2024. is necessary.
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. 2025 2024
Pte. Ltd. telah melakukan penyelesaian Ltd. have finalized completion/closing for new Saldo awal tahun 29.235.675.350 3.330.951.275 Balance at beginning of year
(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 Penambahan tahun berjalan 175.462.202.873 25.904.724.075 Addition in current year
memiliki 296.826 lembar saham biasa yang ownership in PT Teknologi Data Infrastruktur Saldo akhir tahun 204.697.878.223 29.235.675.350 Balance at ending of year
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 17. ASET TAK BERWUJUD 17. INTANGIBLE ASSETS
penyelesaian (completion/closing) atas the issuance of new shares in TDI amounting Akun ini terdiri dari: This account consists:
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. 2025 2024
biasa yang mencerminkan 5% dari Biaya Perolehan At Cost
kepemilikan sahamnya dalam TDI.
Acquisition of Tanjung Jati B
Berdasarkan Akta Notaris No. 238 tanggal 22 Based on Notarial Deed No. 238 dated 22 Akuisisi Proyek Tanjung Jati B 28.931.301.095 28.931.301.095 Project
Desember 2025 oleh Jimmy Tanal, S.H., December 2025 of Jimmy Tanal, S.H., M.Kn., Goodwill 27.900.256.811 27.900.256.811 Goodwill
M.Kn., sehubungan dengan peningkatan following a capital increase in TDI, MPI’s Perizinan 21.971.322.006 21.971.322.006 Licenses
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 Perangkat lunak 13.745.998.937 11.011.515.464 Software
tambahan setoran modal sebesar amounting to Rp38,500,000,000 (equivalent to Total Biaya Perolehan 92.548.878.849 89.814.395.376 Total Cost
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 Akumulasi Amortisasi Accumulated Amortization
3,28%, tanpa adanya perubahan nilai nominal value of its investment. Acquisition of Tanjung Jati B
investasi yang dimiliki Perusahaan. Akuisisi Proyek Tanjung Jati B 28.208.018.581 26.761.453.524 Project
Pada tanggal 31 Desember 2025 dan 2024, On December 31, 2025 and 2024, MPI Perizinan 7.818.394.286 7.473.154.286 Licenses
MPI melakukan penyesuaian nilai buku adjusted the book value of TDI investment to Perangkat lunak 5.358.816.951 2.574.139.746 Software
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 Total Akumulasi Amortisasi 41.385.229.818 36.808.747.556 Total Accumulated Amortization
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 Penurunan Nilai Impairment
penghasilan komprehensif lain dalam laporan the statement of profit or loss and other Goodwill 27.900.256.811 27.900.256.811 Goodwill
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 Perizinan 7.133.047.720 7.133.047.720 Licenses
2025 dan 2024, sesuai dengan kebijakan with the accounting policy chosen for the
akuntansi yang dipilih untuk investasi saham investment in shares of TDI. Nilai Tercatat Neto 16.130.344.500 17.972.343.289 Net Carrying Amount
pada TDI.
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.
81 82
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2025 Management Business Company Corporate Sustainability
230 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 231
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
17. ASET TAK BERWUJUD (lanjutan) 17. INTANGIBLE ASSETS (continued) 18. ASET TETAP 18. PROPERTY, PLANT AND EQUIPMENT
. .
Rincian akun ini terdiri dari sebagai berikut: The details of this account are as follows:
Akuisisi NES Acquisition of NES
Pada tanggal 29 Januari 2014, Perusahaan On January 29, 2014, the Company purchased 2025
melakukan pembelian atas 80% saham NES yang 80% of NES shares owned by PT Nawakara Energi Penyesuaian
Translasi/
dimiliki oleh PT Nawakara Energi Perkasa (“NEP”) Perkasa (“NEP”) resulting in a goodwill of Saldo Awal/
Beginning Balance
Penambahan/
Additions
Pengurangan/
Deductions
Reklasifikasi/
Reclassifications
Translation
Adjustments
Saldo Akhir/
Ending Balance
dengan goodwill sebesar Rp10.982.717.600. Pada Rp10,982,717,600. At the time of acquisition, the Biaya Perolehan Acquisition Cost
saat diakuisisi, aset NES yang sebagian besar NES asset, the capitalized basic engineering Tanah dan hak atas tanah 56.882.767.470 - - 890.000.000 80.276.804 57.853.044.274 Land and landrights
merupakan biaya perancangan desain dasar yang design cost, represents the fair value of the asset at 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
dikapitalisasi, merepresentasikan nilai wajar aset the date of acquisition. As of December 31, 2021, Mesin 465.952.479.832 54.853.114.034 (54.951.870.224) - - 465.853.723.642 Machinery
pada tanggal akuisisi. Pada tanggal 31 Desember the Company recognized impairment loss for 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
2021, Perusahaan mengakui rugi penurunan nilai goodwill from acquisition of NES due to NES has Perabotan, perlengkapan Furniture, fixtures and office
atas goodwill dari akuisisi NES dikarenakan pada not yet received approval for extending power plant dan peralatan kantor 71.528.907.404 5.534.477.244 (332.931.209) - 855.777.403 77.586.230.842 equipment
tanggal tersebut NES belum menerima construction period of the Power Purchase Kendaraan bermotor 23.133.871.275 2.695.326.350 (1.909.153.907) - 95.325.455 24.015.369.173 Motor vehicles
perpanjangan masa konstruksi pembangkit pada Agreement (PPA) between NES and PT PLN Peralatan komunikasi 3.170.898.430 488.432.500 (31.090.000) - 20.171.630 3.648.412.560
Telecommunication
equipment
Perjanjian Jual Beli Tenaga Listrik (PJBTL) antara (Persero) Unit Induk Wilayah Sumatera Barat (“PT Peralatan 82.821.060.560 11.133.086.720 (5.500.000) - 1.247.813.503 95.196.460.783 Tools
NES dengan PT PLN (Persero) Unit Induk Wilayah PLNWSB”) on that date (Note 38). Leasehold improvement 71.711.682.083 - - - 280.021.586 71.991.703.669 Leasehold improvements
Sumatera Barat (“PT PLNWSB”) (Catatan 38). 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
Akuisisi SHBar Acquisition of SHBar 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
Pada tanggal 1 Juli 2013, Perusahaan mengakuisisi On July 1, 2013, the Company purchased 100% of 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
100% saham SHBar yang dimiliki oleh PT SHBar shares owned by PT Sangsaka Hidro Tiara Mesin (241.454.984.376) (92.554.948.989) 54.951.870.224 - - (279.058.063.141) Machinery
Sangsaka Hidro Tiara dan PT Satria Wijaya and PT Satria Wijaya Kusuma resulting in a Peralatan panel kontrol (28.013.482.744) (223.276.453) 27.414.633.920 - (114.285.981) (936.411.258) Control panel equipment
Kusuma yang menimbulkan goodwill sebesar goodwill of Rp9,617,539,211. At the time of Perabotan, perlengkapan Furniture. fixtures and office
Rp9.617.539.211. Pada saat diakuisisi, aset SHBar acquisition, the SHBar assets, mainly consists of dan peralatan kantor (47.624.580.759) (10.075.701.502) 332.931.209 - (689.677.590) (58.057.028.642) equipment
sebagian besar merupakan nilai tanah dan biaya the value of the land and basic engineering design Kendaraan bermotor (19.782.617.527) (1.471.699.157) 1.909.153.907 - (39.393.055) (19.384.555.832) Motor vehicles
perancangan desain dasar konstruksi yang cost, represent the fair value of the assets at the Telecommunication
dikapitalisasi, merepresentasikan nilai wajar aset date of acquisition. As of December 31, 2018, the Peralatan komunikasi (2.762.855.479) (250.591.158) 26.854.790 - (17.488.065) (3.004.079.912) equipment
pada tanggal akuisisi. Pada tanggal 31 Desember Company recognized impairment loss for goodwill Peralatan (65.395.593.928) (10.334.063.775) 5.500.000 - (1.064.453.644) (76.788.611.347) Tools
2018, Perusahaan mengakui rugi penurunan nilai from acquisition of SHBar due to SHBAR has not Leasehold improvement (26.172.747.283) (5.929.154.127) - - (176.067.228) (32.277.968.638) Leasehold improvements
atas goodwill dari akuisisi SHBar dikarenakan yet received approval for extending power plant Total Akumulasi
Penyusutan (484.312.692.746) (126.086.995.066) 84.706.939.430 - (3.271.290.802) (528.964.039.184)
Total Accumulated
Depreciation
SHBAR belum menerima perpanjangan masa construction period of the Power Purchase
konstruksi pembangkit pada Perjanjian Jual Beli Agreement (“PPA”) between SHBar and PT Nilai Tercatat Neto 1.457.525.436.994 410.909.062.690 Net Carrying Amount
Tenaga Listrik (“PJBTL”) antara SHBar dengan PT PLNUIDJB.
PLNUIDJB. 2024
Akuisisi SAL Acquisition of SAL Penyesuaian
Translasi/
Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Translation Saldo akhir/ Ending
Beginning Balance Additions Deductions Reclassifications Adjustments Balance
Pada tanggal 29 Juli 2011, Perusahaan melakukan On July 29, 2011, the Company purchased 70% of Biaya Perolehan Acquisition Cost
pembelian atas 70% saham SAL yang dimiliki oleh SAL shares owned by PT Sangsaka Hidro Tiara Tanah dan hak atas tanah 56.786.176.345 - - - 96.591.125 56.882.767.470 Land and landrights
PT Sangsaka Hidro Tiara dengan goodwill sebesar with goodwill amounting to Rp7,300,000,000. At the
Buildings and
Rp7.300.000.000. Pada saat diakuisisi, aset SAL time of acquisition, SAL assets, mainly consist of Bangunan dan prasarana 100.092.783.257 1.691.900.518 - - 3.247.045.477 105.031.729.252 improvements
yang sebagian besar merupakan kendaraan dan capitalized vehicles and office equipment, Mesin 460.007.796.106 104.291.213.800 (98.346.530.074) - - 465.952.479.832 Machinery
peralatan kantor yang dikapitalisasi, represent the fair value of the assets at the date of Peralatan panel kontrol 28.739.353.492 - - - 32.496.536 28.771.850.028 Control panel equipment
merepresentasikan nilai wajar aset pada tanggal acquisition. Perabotan, perlengkapan Furniture. fixtures and
akuisisi. 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
Pada tanggal 31 Desember 2024, Perusahaan As of December 31, 2024, the Company Peralatan komunikasi 3.443.969.656 164.501.101 (460.418.900) - 22.846.573 3.170.898.430
Telecommunication
equipment
mengakui rugi penurunan nilai atas goodwill dari recognized an impairment loss on goodwill from the Peralatan 78.656.645.772 5.101.491.474 (2.362.274.398) - 1.425.197.712 82.821.060.560 Tools
akuisisi SAL, karena tidak ada pengembangan lebih acquisition of SAL, because there was no further Leasehold improvement 69.855.857.127 1.518.895.757 - - 336.929.199 71.711.682.083 Leasehold improvements
lanjut dari SAL dan entitas anaknya, sebesar development of SAL and its subsidiaries,
Aset tetap dalam
Rp7.300.000.000 (Catatan 36). amounting Rp7,300,000,000 (Note 36). 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
Lain-lain Other
Akumulasi Penyusutan Accumulated Depreciation
Pada tanggal 31 Desember 2024, Perusahaan As of December 31, 2024, the Company Bangunan dan prasarana (46.767.970.942) (5.091.124.839) - - (1.246.734.869) (53.105.830.650)
Buildings and
improvements
mengakui rugi penurunan nilai atas perijinan yang recognized an impairment loss on license from the Mesin (239.071.869.347) (88.338.309.209) 85.955.204.093 - (9.913) (241.454.984.376) Machinery
dibukukan pada saat akuisisi PT Pembangkitan acquisition of PT Pembangkitan Pusaka Peralatan panel kontrol (27.879.241.743) (125.978.427) - - (8.262.574) (28.013.482.744) Control panel equipment
Pusaka Parahiangan (“PPP”), karena tidak ada Parahiangan (“PPP”), because there was no further Perabotan, perlengkapan Furniture. fixtures and
pengembangan lebih lanjut dari PPP, sebesar development of PPP, amounting Rp7,133,047,720 dan peralatan kantor (41.618.442.773) (8.040.228.668) 2.747.177.530 - (713.086.848) (47.624.580.759) office equipment
Rp7.133.047.720 (Catatan 36). (Note 36). 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
83 84
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2025 Management Business Company Corporate Sustainability
232 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 233
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
18. ASET TETAP (lanjutan) 18. PROPERTY, PLANT AND EQUIPMENT 18. ASET TETAP (lanjutan) 18. PROPERTY, PLANT AND EQUIPMENT
(continued) (continued)
Penyusutan dialokasikan sebagai berikut: Depreciation is charged to the following: 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
2025 2024 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
Beban pokok penjualan dikapitalisasi ke aset tetap untuk tahun yang equipment for the year ended December 31, 2024.
(Catatan 33) 97.300.410.509 93.219.319.628 Cost of revenues (Note 33) berakhir pada tanggal 31 Desember 2024. Suku The effective interest rates used to determine the
Beban operasional (Catatan 34) 28.786.584.557 25.837.580.481 Operating expenses (Note 34) 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
Jumlah 126.086.995.066 119.056.900.109 Total 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.
Aset tetap tertentu digunakan sebagai jaminan atas Certain property, plant and equipment are used as dikapitalisasi pada tanggal yang berakhir pada 31
utang yang diperoleh oleh Grup (Catatan 25). collateral to the loans obtained by the Group (Note Desember 2024.
25).
Pada 31 Desember 2025 dan 31 Desember 2024, As of 31 Desember 2025 and 31 Desember 2024,
Persediaan (Catatan 9) dan aset tetap, termasuk Inventories (Note 9) and property, plant and manajemen berpendapat bahwa penyisihan the management is of the opinion that the
aset tetap dalam perjanjian mengandung sewa equipment including property plant and equipment, penurunan nilai yang dicadangkan adalah cukup allowance for impairment losses were adequate
(Catatan 11), telah diasuransikan terhadap under finance lease arrangement (Note 11), are dan tidak diperlukan penurunan nilai lebih lanjut and no further impairment on the remaining
kerusakan material, kerusakan mesin dan business insured against material damage, machinery atas aset tetap lainnya. property, plant and equipment is necessary.
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 Grup memiliki Hak atas tanah atau “Hak Guna The Group have landrights or “Hak Guna
tanggal 31 Desember 2025 dan AS$633.734.665 Rp290,799,553,640 as of December 31, 2025 and Bangunan” (“HGB”), selain hak atas tanah yang Bangunan” (“HGB”), other than the landrights still in
dan Rp324.469.888.721 pada tanggal 31 US$633,734,665 and Rp324,469,888,721, as of masih dalam proses untuk terdaftar atas nama process of being registered to the Group’s name,
Desember 2024. Manajemen berkeyakinan bahwa December 31, 2024. Management believes that the Grup, akan berakhir pada tahun 2043 sampai that will expire on 2043 until 2047.
nilai pertanggungan tersebut adalah cukup untuk insurance coverage is adequate to cover possible dengan 2047.
menutupi kemungkinan kerugian atas aset yang losses that may arise from such risks.
dipertanggungkan. 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
Pelepasan aset tetap adalah sebagai berikut: Disposals of property, plant and equipment are as Indonesia pada saat jatuh tempo, karena upon expiration because under the laws of
follows: 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
2025 2024 dari pemegang HGB (bergantung pada Government of Indonesia’s approval).
persetujuan Pemerintah Indonesia).
Hasil pelepasan neto 2.621.811.141 314.256.360 Net proceeds
Nilai tercatat 118.227.230 12.553.827.371 Carrying value 19. UANG MUKA PEMBELIAN ASET TETAP 19. ADVANCES FOR PURCHASE OF PROPERTY,
PLANT AND EQUIPMENT
Laba (rugi) 2.503.583.911 (12.239.571.011) Gain (loss)
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
Pada tanggal 31 Desember 2025 dan 2024, biaya As of December 31, 2025 and 2024, the pembelian mesin proyek pembangkit listrik DEB expansion power plant project, Bali West
perolehan aset tetap oleh Grup yang telah acquisition cost of property, plant and equipment ekspansi DEB, proyek pembangkit listrik solar Bali photovoltaic power plant project and power turbine
disusutkan penuh namun masih digunakan masing- that have been fully depreciated but are still being Barat dan pembelian mesin tenaga turbin di DEB. machinery in DEB.
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, Pada tanggal 31 Desember 2024, akun ini terutama As of December 31, 2024, this account mainly
perlengkapan dan peralatan kantor, kendaraan respectively, consisting of furniture, fixtures and merupakan pembayaran uang muka terkait dengan represents advance payments related to project of
bermotor dan peralatan (tidak diaudit). office equipment, motor vehicle and tools proyek pembangkit listrik solar photovoltaik Bali Bali West solar photovoltaics power plant.
(unaudited). Barat.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, based on 20. ASET LANCAR DAN ASET TIDAK LANCAR 20. OTHER CURRENT AND NON-CURRENT
berdasarkan penelaahan atas estimasi umur review of estimated useful lives, residual values LAINNYA ASSETS
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 Pada tanggal 31 Desember 2025, akun aset lancar As of December 31, 2025, the other current asset
terdapat perubahan atas estimasi masa manfaat, the useful lives, residual values and method of lainnya sebagian besar merupakan biaya pekerjaan account mainly represents mainly consist of
nilai residu dan metode penyusutan aset tetap. depreciation of fixed assets. 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
Pada tanggal 31 Desember 2024, aset tetap dalam As of December 31, 2024, the construction in terutama merupakan biaya yang ditangguhkan project development costs incurred by the
pembangunan terutama merupakan konstruksi progress mainly represents construction of untuk pengembangan proyek Perusahaan. Company.
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 Pada Tanggal 31 Desember 2024, akun aset lancar As of December 31, 2024, the other current asset
direklasifikasi ke akun ke piutang sewa pembiayaan 2025, and were reclassified to finance lease lainnya terutama merupakan akumulasi biaya account mainly represents the accumulation of
sesuai dengan Perjanjian Jual Beli Tenaga Listrik receivables under Power Purchase Agreement with persiapan pekerjaan operasi dan pemeliharan, preparation costs for operation and maintenance
dengan PT PLN Batam (Catatan 38). PT PLN Batam (Note 38). 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
Pada tanggal 31 Desember 2025 dan 2024, tidak As of December 31, 2025 and 2024, there is no dengan kontrak sebagai persiapan dimulainya out in accordance with the contract in preparation
ada aset tetap yang tidak digunakan sementara. temporary idle property, plant and equipment. tahapan operasi komersial pada PLTU Sulut-1 for the start of the commercial operation phase at
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, management (2x50 MW) milik PT PLN (Persero). Akun aset tidak PLTU Sulut-1 (2x50 MW) owned by PT PLN
manajemen berpendapat bahwa penyisihan is of the opinion that the allowance for impairment lancar lainnya sebagian besar merupakan biaya (Persero). The other non-current assets account
kerugian penurunan nilai atas aset tetap tidak loss on property and equipment is not needed. pekerjaan pemeliharaan besar di TJB yang mainly consist of deferred major maintenance costs
diperlukan. ditangguhkan. in TJB.
85 86
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2025 Management Business Company Corporate Sustainability
234 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 235
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
21. UTANG USAHA 21. TRADE PAYABLES 21. UTANG USAHA (lanjutan) 21. TRADE PAYABLES (continued)
. .
Akun ini terdiri atas utang kepada: This account consists of payables to:
Akun ini merupakan utang kepada pemasok yang This account represents payables to suppliers
i. Berdasarkan Pemasok i. By Supplier 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.
2025 2024
PT Perusahaan Gas Negara PT Perusahaan Gas Negara Utang usaha baik dari pemasok dalam negeri Trade payables to both local and foreign suppliers
(Persero) Tbk ("PT PGN (Persero) Tbk ("PT PGN maupun luar negeri tanpa bunga, tidak dijamin dan are non-interest bearing, unsecured and generally
(Persero) Tbk") (Catatan 38) 51.224.181.101 47.906.037.151 (Persero) Tbk") (Note 38) secara umum mempunyai masa kredit sampai have credit terms of up to one month.
RWG (Repair & Overhaul) RWG (Repair & Overhaul) dengan satu bulan.
Limited 24.922.276.920 - Limited
PT Pertamina EP (Catatan 38) 10.233.221.898 7.638.312.961 PT Pertamina EP (Note 38) 22. UTANG LAIN-LAIN DAN LIABILITAS KONTRAK 22. OTHER PAYABLES AND CONTRACT LIABILITY
PT PLN (Persero) UIP3B PT PLN (Persero) UIP3B a. Utang lain-lain a. Other payables
Sumatera (Catatan 38) 7.958.748.151 - Sumatera (Catatan 38)
Akun ini terdiri atas utang kepada: This account consists of payables to:
PT Scientific Drilling PT Scientific Drilling
International Indonesia 7.478.375.205 - International Indonesia
2025 2024
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 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.,
PT Kasmar Tiar Raya 1.673.057.850 1.673.057.850 PT Kasmar Tiar Raya Ltd. (dahulu Mitsui Oil Ltd. (formerly Mitsui Oil
PT Halliburton Logging Services PT Halliburton Logging Services Exploration Co., Ltd.) 137.116.240.170 89.941.530.000 Exploration Co., Ltd.)
Indonesia 1.562.373.321 - Indonesia RH International (Singapore) RH International (Singapore)
PT Kartika Bina Medikatama 1.307.248.432 761.948.731 PT Kartika Bina Medikatama Corporation Pte. Ltd. 108.307.503.780 104.306.153.980 Corporation Pte. Ltd.
PT Varcoindo Bina Jaya 1.041.536.735 - PT Varcoindo Bina Jaya Solar Philippines Power Project Solar Philippines Power Project
Holdings, Inc. 87.911.453.103 85.475.824.612 Holdings, Inc.
PT Inti Karya Persada - 167.867.110.912 PT Inti Karya Persada
PT Universal Gas Energy
Millbank, Tweed, Hadley & Millbank, Tweed, Hadley & ("UGE") 69.292.188.853 60.020.930.935 PT Universal Gas Energy ("UGE")
McCloy LLP - 1.523.704.874 McCloy LLP
KPIC Netherlands B.V ("KPN") 45.419.793.487 48.602.445.487 KPIC Netherlands B.V ("KPN")
Tritama Mitra Lestari (Catatan
38) - 1.443.821.826 Tritama Mitra Lestari (Note 38) PT Sangsaka Hidro Tiara
("SHT") 43.870.456.814 43.861.144.414 PT Sangsaka Hidro Tiara ("SHT")
PT Istech Resources Asia - 1.161.006.420 PT Istech Resources Asia
PT Nawakara Energi Perkasa PT Nawakara Energi Perkasa
Lain-lain (masing-masing di Others (each below ("NEP") 10.200.000.000 10.200.000.000 ("NEP")
bawah Rp1.000.000.000) 22.816.212.392 19.940.986.351 Rp1,000,000,000)
Kanden Power-Tech Kanden Power-Tech Corporation
Total 138.916.864.935 260.863.402.238 Total Corporation ("KPT") 4.967.413.721 5.445.871.721 ("KPT")
PT Lautan Air Indonesia 1.826.526.380 - PT Lautan Air Indonesia
ii. Berdasarkan Umur ii. By Aging Category PT Jamsostek 664.870.086 1.624.455.633 PT Jamsostek
PT Putera Instrumenindo 238.183.756 3.572.756.352 PT Putera Instrumenindo
2025 2024
PT Kustodian Sentral Efek PT Kustodian Sentral Efek
Sampai dengan 1 bulan 83.145.940.302 223.037.476.697 Up to 1 month Indonesia - 8.089.375.000 Indonesia
1-3 bulan 35.607.858.743 14.884.821.592 1-3 months PT PLN Batam - 2.144.072.026 PT PLN Batam
3-6 bulan 32.379.267 2.245.814.817 3-6 months Riza Utama Teknik - 1.335.250.000 Riza Utama Teknik
6 bulan - 1 tahun 100.000 275.242.992 6 months - 1 year PT Kalinyamat Perkasa - 1.229.954.814 PT Kalinyamat Perkasa
Lebih dari 1 tahun 20.130.586.623 20.420.046.140 More than 1 year PT Wasa Mitra Engineering - 607.022.916 PT Wasa Mitra Engineeding
Total 138.916.864.935 260.863.402.238 Total 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
iii. Berdasarkan Mata Uang iii. By Currency
Dikurangi porsi jangka panjang 69.292.188.853 60.020.869.805 Less long-term portion
2025 2024
Porsi jangka pendek 1.249.496.051.662 950.929.698.815 Current portion
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 88
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2025 Management Business Company Corporate Sustainability
236 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 237
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
22. UTANG LAIN-LAIN DAN LIABILITAS KONTRAK 22. OTHER PAYABLES AND CONTRACT LIABILITY 23. PERPAJAKAN 23. TAXES
(lanjutan) (continued)
a. Rincian utang pajak sebagai berikut: a. Taxes payable consist of the following:
b. Liabilitas kontrak b. Contract liability
2025 2024
Akun ini terdiri atas utang kepada: This account consists of payables to:
Perusahaan The Company
2025 2024
Pajak penghasilan Income taxes
Porsi Jangka Pendek 16.792.588.559 8.396.294.285 Current portion
Pasal 4(2) 356.402.147 335.829.521 Article 4(2)
Porsi Jangka Panjang 49.851.116.451 31.252.873.177 Long-term portion Pasal 21 485.180.411 4.176.572.904 Article 21
Total 66.643.705.010 39.649.167.462 Total Pasal 23 228.112.838 83.583.608 Article 23
Pajak pertambahan nilai
("PPN") 49.280.000 - Value-added tax ("VAT")
Utang kepada OGP merupakan utang terkait biaya The amount payable to OGP represents payable Sub-total 1.118.975.396 4.595.986.033 Sub-total
eksplorasi dan evaluasi tenaga panas bumi. related exploration and evaluation costs of the
geothermal power plant.
Entitas anak The subsidiaries
Utang kepada RH International (Singapore) The amount payable to RH International
Corporation Pte. Ltd. merupakan utang terkait biaya (Singapore) Corporation Pte. Ltd. represent Pajak penghasilan badan Corporate Income tax
pengembangan proyek pembangkit listrik Riau. payable related project development cost of Riau Pasal 29 27.231.373.768 28.862.226.325 Article 29
power plant.
Pajak penghasilan Income taxes
Utang kepada Mitsui Oil Exploration Co. Ltd. The amount payable to Mitsui Oil Exploration Co. Pasal 4(2) 78.978.044 4.940.137.437 Article 4(2)
merupakan utang terkait biaya pengembangan Ltd. represent payable related project development Pasal 21 1.672.028.542 3.044.015.960 Article 21
proyek geotermal Bonjol. cost of Bonjol geothermal.
Pasal 23 1.146.350.371 962.374.271 Article 23
Utang kepada Solar Philippines Power Project The amount payable to Solar Philippines Power Pasal 25 1.383.566.811 1.263.458.841 Article 25
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 Pasal 26 3.902.486 612.152.640 Article 26
Barat dan Bali Timur. Solar power plant. Pajak pertambahan nilai
("PPN") 1.054.139.178 - Value-added tax ("VAT")
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 Sub-total 32.570.339.200 39.684.365.474 Sub-total
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 Total 33.689.314.596 44.280.351.507 Total
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 90
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2025 Management Business Company Corporate Sustainability
238 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 239
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued) 23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
b. Rekonsiliasi antara beban pajak penghasilan b. A reconciliation between the income tax d. Aset pajak tangguhan d. Deferred tax assets
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 Rincian aset dan liabilitas pajak tangguhan Details of deferred tax assets and liabilities as
penghasilan dan beban pajak penghasilan expense and income tax expense as shown in pada tanggal 31 Desember 2025 dan 2024 of December 31, 2025 and 2024, are as
yang disajikan pada laporan laba rugi dan the consolidated statement of profit or loss and adalah sebagai berikut: follows:
penghasilan komprehensif lain konsolidasian other comprehensive incomeis is as follows:
adalah sebagai berikut: 2025
(Dibebankan)
Dikreditkan ke
2025 2024 laporan laba rugi
konsolidasian/ (Dibebankan)
Laba (rugi) sebelum pajak (Charged) Credit to Dikreditkan ke
consolidated ekuitas/
penghasilan pada laporan Profit (loss) before income tax 31 Desember 2024/ statement of profit (Charged) Credit to 31 Desember 2025/
laba rugi dan penghasilan per consolidated statement of December 31, 2024 or loss equity December 31, 2025
komprehensif lain profit or loss and other
konsolidasian 374.549.826.824 (47.482.051.418) comprehensive income Perusahaan The Company
Dikurangi laba sebelum pajak Less profit before income tax of Aset (liabilitas) pajak
tangguhan Deferred tax asset (liability)
penghasilan entitas anak (447.751.907.110) (184.089.446.762) Subsidiaries
Employee service
Rugi sebelum pajak Loss before income tax - the Liabilitas imbalan kerja 9.973.340.300 228.823.519 556.289.821 10.758.453.640 entitlements
penghasilan - Perusahaan (73.202.080.286) (231.571.498.180) Company Properties, plant and
Aset tetap 2.966.039.040 (2.946.600.250) - 19.438.790 equipment
Pajak penghasilan sesuai tarif Income tax expense at Aset hak guna (2.766.464.973) (7.289.767.144) - (10.056.232.117) Right-of-use assets
yang berlaku (16.104.457.663) (50.945.729.600) applicable tax rate
Liabilitas sewa 2.857.542.226 7.703.882.209 - 10.561.424.435 Lease liabilities
Efek pajak atas penyesuaian Penyisihan atas kerugian Allowance for expected
fiskal: Tax effect of fiscal adjustments: kredit ekpektasian 8.048.626.256 (8.048.626.256) - - credit losses
Penghasilan bukan objek Keuntungan nilai wajar atas Gain on fair value on long-
pajak (29.477.573.906) (22.321.543.199) Non-taxable income investasi jangka panjang (148.554.866.921) - - (148.554.866.921) term investment
Beban yang tidak dapat Liabilitas pajak tangguhan -
dikurangkan 26.434.779.865 22.941.576.760 Non-deductible expenses neto (127.475.784.072) (10.352.287.922) 556.289.821 (137.271.782.173) Deferred tax liability - net
Pendapatan bunga yang Interest income subjected to Entitas anak The Subsidiaries
dikenakan pajak final (6.874.757.245) (1.184.621.185) final tax
Aset pajak tangguhan 63.576.309.505 (26.401.540.013) 642.978.600 37.817.748.092 Deferred tax assets
Aset pajak tangguhan yang Unrecognized deferred tax asset
Liabilitas pajak tangguhan (606.345.711.613) 1.514.142.560 (1.671.143.284) (606.502.712.337) Deferred tax liabilities
tidak diakui untuk rugi fiskal 28.325.670.615 49.288.549.251 on fiscal loss carryforward
Konsolidasian Consolidated
Penyesuaian pada pajak
penghasilan tahun Adjustment in respect of current Aset pajak tangguhan 63.576.309.505 (26.401.540.013) 642.978.600 37.817.748.092 Deferred tax assets
sebelumnya *) 12.857.562.740 - income tax of previous year *) Liabilitas pajak tangguhan (733.821.495.685) (8.838.145.362) (1.114.853.463) (743.774.494.510) Deferred tax liabilities
Aset pajak tangguhan tahun lalu Written off prior year deferred
Jumlah Beban Pajak Total Deferred Tax
yang dihapusbukukan 8.048.626.256 - tax asset Tangguhan Grup (35.239.685.375) Expense of the Group
Beban/(manfaat) pajak Income tax expense/(benefit) - Beban Pajak Tangguhan Deferred Tax Expense
penghasilan - Perusahaan 23.209.850.662 (2.221.767.973) the Company dari pendapatan from other
komprehensif lain (471.874.863) comprehensive income
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 92
Page 122
2025 Management Business Company Corporate Sustainability
240 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 241
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued) 23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. . . .
d. Aset pajak tangguhan (lanjutan) d. Deferred tax assets (continued) e. Beban pajak kini e. Current tax
Rincian aset dan liabilitas pajak tangguhan ‘Details of deferred tax assets and liabilities as Rekonsiliasi antara laba sebelum pajak A reconciliation between profit before income
pada tanggal 31 Desember 2025 dan 2024 of December 31, 2025 and 2024, are as penghasilan menurut laporan laba rugi dan tax from continuing operations per
adalah sebagai berikut: follows: penghasilan komprehensif lain konsolidasian consolidated statement of profit or loss and
adalah sebagai berikut: other comprehensive income is as follows:
2024
(Dibebankan) 2025 2024
Dikreditkan ke
laporan laba rugi
konsolidasian/ (Dibebankan) Laba (rugi) sebelum pajak
(Charged) Credit to Dikreditkan ke penghasilan pada laporan Profit (loss) before income tax
consolidated ekuitas/ laba rugi dan penghasilan per consolidated statements
31 Desember 2023/ statement of profit (Charged) Credited 31 Desember 2024/
December 31, 2023 or loss to equity December 31, 2024 komprehensif lain of profit or loss and other
konsolidasian 374.549.826.824 (47.482.051.419) comprehensive income
Perusahaan The Company
Dikurangi laba sebelum pajak
Aset (liabilitas) pajak penghasilan entitas anak Less profit before income tax of
tangguhan Deferred tax asset (liability) konsolidasian (447.751.907.110) (184.089.446.762) consolidated subsidiaries
Employee service
Liabilitas imbalan kerja 8.076.638.680 2.376.111.540 (479.409.920) 9.973.340.300 entitlements Rugi sebelum pajak Loss before income tax - the
Properties, plant and penghasilan - Perusahaan (73.202.080.286) (231.571.498.181) Company
Aset tetap 2.817.630.348 148.408.692 - 2.966.039.040 equipment
Koreksi fiskal: Fiscal corrections:
Aset hak guna (3.657.117.340) 890.652.367 - (2.766.464.973) Right-of-use assets
Beda tetap (45.079.778.573) (2.566.237.709) Permanent differences
Liabilitas sewa 4.050.946.852 (1.193.404.626) - 2.857.542.226 Lease liabilities
Beda temporer (10.471.189.391) 10.098.875.659 Temporary differences
Nilai wajar aset tersedia Fair value available for sale
untuk dijual - - - - investment
Estimasi rugi fiskal tahun Estimated fiscal loss for the
Penyisihan atas kerugian Allowance for expected berjalan (128.753.048.250) (224.038.860.231) year
kredit ekpektasian 8.048.626.256 - - 8.048.626.256 credit losses
Keuntungan nilai wajar atas Gain on fair value on long-
Rugi fiskal tahun-tahun
investasi jangka panjang (148.554.866.921) - - (148.554.866.921) term investment sebelumnya (694.281.258.437) (470.242.398.206) Prior years fiscal losses
Liabilitas pajak tangguhan -
Penyesuaian rugi fiskal tahun Prior years fiscal losses
neto (129.218.142.125) 2.221.767.973 (479.409.920) (127.475.784.072) Deferred tax liability - net sebelumnya 910.069.116 - adjustments
Entitas anak The Subsidiaries
Rugi fiskal kumulatif - Accumulated losses - the
Perusahaan (822.124.237.571) (694.281.258.437) Company
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 Estimasi pajak penghasilan kini - - Estimated current income tax
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 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
Jumlah Beban Pajak
Tangguhan Grup 8.347.559.031
Total Deferred Tax
Expense of the Group
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
Manfaat Pajak Tangguhan Deferred Tax Benefit from Badan ke Kantor Pajak. the Tax Office.
dan pendapatan other comprehensive
komprehensif lain (33.825.454.668) income
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.
93 94
Page 123
2025 Management Business Company Corporate Sustainability
242 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 243
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued) 23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. . . .
f. Estimasi pengembalian pajak f. Estimated claims for tax refund g. Surat Ketetapan Pajak g. Tax Assessment Letters
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
rincian estimasi pengembalian pajak atas lebih details of the claims for tax refund related to terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
bayar pajak penghasilan badan dan pajak the overpayment corporate income tax and sampai tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024 are as follows:
pertambahan nilai (PPN) adalah sebagai value-added tax (VAT) are as follows: adalah sebagai berikut:
berikut:
PT Bio Jatropha Indonesia
2025 2024
Perusahaan The Company Nomor dan
Jumlah
Pajak penghasilan badan Corporate income tax Penilaian Tanggal Status pada Status pada
Jumlah menurut Surat Pajak tanggal 31 tanggal 31
2024 267.471.516 2.905.991.916 2024 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
2023 - 12.426.787.478 2023 tax and period Amount
Assessed by the Group Date of as of as of
Entitas anak Subsidiaries Latest Tax December December
Tax Authority
Pajak penghasilan badan Corporate income tax Letters 31, 2025 31, 2024
PPh 23 SKP Kurang Bayar/ Rp5.614.008.876 Nihil/Nil Berbagai Peninjauan Peninjauan
2025 18.736.331.028 - 2025 Berbagai masa di Underpayment of Nomor/Various Kembali ditolak Kembali
tahun pajak 2019/ Tax Assessment numbers oleh diajukan oleh
2024 3.280.058.682 10.865.179.362 2024 WHT Art 23 Various Letter Mahkamah DJP/Judicial
2023 22.405.379.688 34.412.248.141 2023 tax periods 2019 16 Mei 2024/ Agung/ Review filed by
May 16, 2024 Judicial DGT
2019 - 6.952.237.834 2019 Review is
rejected by
2016 - 3.922.353.364 2016 Supreme
Courtfiled
Sub-total 44.689.240.914 71.484.798.095 Sub-total
PPh 23 SKP Kurang Bayar/ Rp2.663.607.207 Rp2.537.952 Berbagai Peninjauan Keberatan/
PPN VAT Berbagai masa di Underpayment of Nomor/Various Kembali ditolak Objection
tahun pajak 2020/ Tax Assessment numbers oleh
WHT Art 23 Various Letter Mahkamah
2025 18.112.377.101 - 2025 tax periods 2020 15 April 2025/ Agung/
2024 2.113.038.402 19.077.819.491 2024 April 15, 2025 Judicial
Review is
2023 - 70.729.544 2023 rejected by
Supreme
2019 - 867.481.318 2019 Courtfiled
2018 - 2.103.097.524 2018
PT Dalle Energy Batam
2016 - 1.490.734.662 2016
Sub-total 20.225.415.503 23.609.862.539 Sub-total Nomor dan
Jumlah
Tanggal Status pada Status pada
Penilaian Jumlah menurut Surat Pajak
Total estimasi pengembalian Jenis Pajak dan Menurut tanggal 31 tanggal 31
pajak 64.914.656.417 95.094.660.634 Total claims for tax refund Masa/ Type of Jenis/ Type Otoritas Pajak/ Grup/ Amount Terakhir/ Desember Desember
of According to Number and 2025/ Status 2024/ Status
Dikurangi bagian tidak lancar 32.844.909.870 66.383.302.418 Less non-current portion tax and period Amount
the Group Date of as of as of
Assessed by
Bagian lancar 32.069.746.547 28.711.358.216 Current portion Tax Authority Latest Tax December December
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 Status pada Status pada
Penilaian Jumlah menurut Surat Pajak
Jenis Pajak dan Menurut tanggal 31 tanggal 31
Masa/ Type of Jenis/ Type Otoritas Pajak/ Grup/ Amount Terakhir/ Desember Desember
of According to Number and 2025/ Status 2024/ Status
tax and period Amount
the Group Date of as of as of
Assessed by Latest Tax
Tax Authority December December
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
95 96
Page 124
2025 Management Business Company Corporate Sustainability
244 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 245
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued) 23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. . . .
g. Surat Ketetapan Pajak (lanjutan) g. Tax Assessment Letters (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 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 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: sampai tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024 are as follows:
adalah sebagai berikut: (lanjutan) (continued) adalah sebagai berikut: (lanjutan) (continued)
PT Energi Listrik Batam
PT Medco Power Indonesia (lanjutan/continued)
Nomor dan
Nomor dan Jumlah
Jumlah Penilaian Tanggal Status pada Status pada
Penilaian Tanggal Status pada Status pada Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jumlah menurut Surat Pajak tanggal 31 tanggal 31 Jenis Pajak dan Menurut
Jenis Pajak dan Menurut Grup/ Amount Terakhir/ Desember Desember
Grup/ Amount of Terakhir/ Desember Desember Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2025/ Status 2024/ Status
Masa/ Type of Jenis/ Type Otoritas Pajak/ According to the Number and 2025/ Status 2024/ Status tax and period Amount
tax and period Amount Assessed by the Group Date of as of as of
Assessed by Group Date of as of as of Latest Tax December December
Latest Tax December December Tax Authority
Tax Authority Letters 31, 2025 31, 2024
Letters 31, 2025 31, 2024
PPh Badan SKP Nihil/Nil of Rugi fiskal Rugi fiskal 00010/506/20/2 Keberatan/ —
PPh Badan SKP Lebih Bayar/ Rugi fiskal Rugi fiskal 00040/406/23/0 Keberatan/ Pemeriksaan Desember 2020/ Tax Assessment US$2.048.672/ US$2.348.672/Tax 17/25 Objection
Desember 2023/ Overpayment of Rp170.640.362.534 Rp317.713.535.609/ 81/25 Objection Pajak/ Corporate Income Letter Tax loss of loss of
Corporate Income Tax Assessment /Tax loss of Tax loss of Tax Audit Tax December 2020 US$2,048,672 US$2,348,672 04 November
Tax December 2023 Letter Rp170,640,362,534 Rp317,713.,535.,609 08 Agustus 2025/
2025/ November 4,
August 8, 2025 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/ PT Pembangkitan Pusaka Parahiangan
VAT on Self- Letter DJP/ Appeal is fully
Construction 30 September Judicial granted
Activities December 2025/ Review filed by Nomor dan
Jumlah Tanggal
2009 September 30, DGT Penilaian Status pada Status pada
2025 Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut
Masa/ Type of Jenis/ Type Otoritas Pajak/ Grup/ Amount Terakhir/ Desember Desember
PT Mitra Energi Batam 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
Nomor dan Letters 31, 2025 31, 2024
Jumlah Tanggal
Penilaian Status pada Status pada PPh 23 SKP Kurang Rp7.370.640.332 Rp1.001.040.299 00002/203/23/4 Keberatan/ —
Jumlah menurut Surat Pajak tanggal 31 tanggal 31 Mei 2023/WHT Art Bayar/ 29/25 Objection
Jenis Pajak dan Menurut
Masa/ Type of Jenis/ Type Otoritas Pajak/ Grup/ Amount Terakhir/ Desember Desember 23 May 2023 Underpayment of
tax and period Amount of According to Number and 2025/ Status 2024/ Status Tax Assessment 24 April 2025/
Assessed by the Group Date of as of as of Letter April 24, 2025
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 PT Medco Geothermal Sarulla
Corporate Income Tax Assessment M.IIIB Tahun diajukan oleh sebagian/
Tax December 2019 Letter 2024 DJP/ Appeal is
Judicial partially Nomor dan
29 Oktober Review filed by granted**) Jumlah Tanggal
Penilaian Status pada Status pada
2024/October DGT Jumlah menurut Surat Pajak tanggal 31 tanggal 31
29, 2024 Jenis Pajak dan Menurut
Grup/ Amount Terakhir/ Desember Desember
PPh 21 SKP Kurang Rp175.434.607 Nihil/Nil PUT-011762.10 Selesai/Closed Banding Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2025/ Status 2024/ Status
Desember 2019/ Bayar/ /2022/PP/ dikabulkan tax and period Amount
Assessed by the Group Date of as of as of
WHT Art 21 Underpayment of M.IIIB Tahun seluruhnya/ Latest Tax December December
December 2019 Tax Assessment 2024 Appeal is fully Tax Authority
Letter granted**) Letters 31, 2025 31, 2024
29 Oktober PPN SKP Lebih Bayar/ Rp1.929.940.449 Rp2.113.035.193 00064/407/24/0 Keberatan/ —
2024/ October Desember 2024/ Overpayment of 95/25 Objection
29, 2024 VAT December Tax Assessment
PPh Badan SKP Lebih Bayar/ Kompensasi rugi Kompensasi rugi PUT-004252.1 Peninjauan Banding 2024 Letter 18 Desember
Desember 2020/ Overpayment of fiskal nihil/Zero tax fiskal 5/2023/PP/ Kembali dikabulkan 2025/
Corporate Income Tax Assessment loss carried forward Rp12.759.250.307/ M.IIIB Tahun diajukan oleh seluruhnya/ December 18,
Tax December 2020 Letter Zero tax loss 2024 DJP/Judicial Appeal is fully 2025
carried forward Review filed by granted**)
Rp12,759,250,307 29 Oktober DGT
2024/October
29, 2024
97 98
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2025 Management Business Company Corporate Sustainability
246 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 247
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued) 23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
. . . .
g. Surat Ketetapan Pajak (lanjutan) g. Tax Assessment Letters (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 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 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: sampai tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024 are as follows:
adalah sebagai berikut: (lanjutan) (continued) adalah sebagai berikut: (lanjutan) (continued)
PT TJB Power Services PT TJB Power Services (lanjutan/continued)
Jumlah Nomor dan Status pada Status pada Nomor dan
Penilaian Jumlah
Jumlah menurut Tanggal
Surat tanggal 31 tanggal 31 Tanggal Status pada Status pada
Jenis Pajak dan Menurut Pajak Penilaian
Grup/ Amount Desember Desember Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Masa/ Type of Jenis/ Type Otoritas Pajak/ Terakhir/ Jenis Pajak dan Menurut
of According to Number 2025/ Status 2024/ Status Grup/ Amount Terakhir/ Desember Desember
tax and period Amount and Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2025/ Status 2024/ Status
the Group as of as of tax and period Amount
Assessed by Date of Latest December December the Group Date of as of as of
Tax Authority Tax Letters Assessed by
31, 2025 31, 2024 Tax Authority Latest Tax December December
PPN SKP Kurang Bayar Rp343.148.076 Nihil/Nil PUT-004849.16/ Banding Banding/ Letters 31, 2025 31, 2024
Juli 2016/ Tambahan/ 2021/PP/M.IVB dikabulkan Appeal*) PPh 26 SKP Kurang Rp2.173.051.770 Nihil/Nil Berbagai Selesai/ Keberatan
VAT July 2016 Additional Tahun 2025 seluruhnya/ Berbagai masa di Bayar/ Nomor/Various Closed dikabulkan
Underpayment of Appeal is fully tahun pajak 2018/ Underpayment of numbers seluruhnya/
Tax Assessment 20 Februari granted WHT Art 26 Various Tax Assessment Objection fully
Letter 2025/ tax periods 2018 Letter 26 Juli 2024/ granted
February 20, July 26, 2024
2025
PPN SKP Lebih Bayar/ Rp3.484.826.434 Rp3.509.760.902 Berbagai Keberatan/ Keberatan/
PPN SKP Kurang Bayar Rp1.147.586.586 Nihil/Nil PUT-004850.16/ Peninjauan Banding/ Berbagai masa di Overpayment of Nomor/Various Objection Objection
September 2016/ Tambahan/ 2021/PP/M.IVB Kembali Appeal*) tahun pajak 2023/ Tax Assessment numbers
VAT September Additional Tahun 2025 diajukan oleh VAT Various tax Letter
2016 Underpayment of DJP/ Judicial periods 2023 25 Maret 2024/
Tax Assessment 20 Februari Review filed by March 25, 2024
Letter 2025/ DGT
February 20, PPN SKP Lebih Bayar/ Rp4.039.284.109 Rp4.055.032.621 Berbagai Keberatan/ Keberatan/
2025 Berbagai masa di Overpayment of Nomor/Various Objection Objection
tahun pajak 2023/ Tax Assessment numbers
PPh 26 SKP Kurang Rp1.278.674.504 Nihil/Nil PUT-004848.13/ Peninjauan Banding/ VAT Various tax Letter
September 2016/ Bayar/ 2021/PP/M.IVB Kembali Appeal*) periods 2023 Mei-Jun 2024/
WHT Art 26 Underpayment of Tahun 2025/ diajukan oleh May-Jun 2024
September 2016 Tax Assessment DJP/Judicial
Letter 20 Februari Review filed by *) Banding dikabulkan seluruhnya pada Februari 2025 *) Appeal is fully granted in February 2025
2025/February DGT
20, 2025 **) Peninjauan Kembali diajukan oleh DJP pada Februari 2025 **) Judicial Review filed by DGT in February 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*) h. Pajak Penghasilan Pilar Dua h. Pillar Two income taxes
Corporate Income Underpayment of Tahun 2025 diajukan oleh
Tax December 2016 Tax Assessment DJP/Judicial The Global Anti-Base Erosion (“Pillar 2 Rules”)
Letter 20 Februari Review filed by Pengenaan Pajak Minimum Global (“Peraturan
2025/ DGT Pillar 2”) diadopsi di Indonesia pada akhir were adopted in Indonesia at the end of 2024
February 20, tahun 2024 melalui penerbitan Peraturan through the issuance of the Ministry of Finance
2025
Menteri Keuangan Republik Indonesia No. 136 Regulation of the Republic of Indonesia No.
PPN Surat Tagihan Rp792.422.654 Nihil/Nil PUT-000159.99/ Gugatan Gugatan/
Maret 2018/ Pajak/ 2021/PP/M.IVB dikabulkan Lawsuit*) Tahun 2024 yang mulai berlaku sejak 1 136 Year 2024 which applicable starting
VAT March 2018 Tax Collection Tahun 2025 seluruhnya/ Januari 2025. Berdasarkan peraturan tersebut, January 1, 2025. Under these rules, the Group
Letter Lawsuit is fully
20 Februari granted Grup termasuk dalam cakupan dan diwajibkan falls within the scope and is required to apply
2025/ untuk menerapkan Peraturan Pillar 2, Pillar 2 Rules. The Company and its
February 20, Perusahaan dan entitas anaknya dianggap
2025 subsidiaries are considered constituent entities
PPN SKP Lebih Bayar/ Rp755.668.191 Rp1.336.639.627 PUT-011141.16/2 Peninjauan Banding/
sebagai entitas konstituen dari PT Kalibiru of PT Kalibiru Energi Lestari (“KEL”) of which
Juni 2019/ Overpayment of 021/PP/M.IVB Kembali Appeal*) Energi Lestari (“KEL”) di mana KEL KEL is the ultimate parent entity (“UPE”).
VAT June 2019 Tax Assessment Tahun 2025 diajukan oleh merupakan entitas induk utama (ultimate
Letter DJP/ Judicial
20 Februari Review filed by parent entity atau “UPE”).
2025/ DGT
February 20, Grup telah melakukan penilaian atas potensi The Group has assessed its potential
2025 eksposurnya atas kewajiban untuk membayar exposure from the requirement to pay top-up
PPN Surat Tagihan Rp807.970.989 Rp132.800 Berbagai Nomor/ Peninjauan Gugatan/ pajak tambahan berdasarkan Peraturan Pillar tax under Pillar 2 Rules and the applicable
Berbagai masa di Pajak/ Various numbers Kembali Lawsuit
tahun pajak 2019/ Tax Collection diajukan oleh 2 dan ketentuan safe harbour yang berlaku, safe harbour provisions, namely, the
VAT Various tax Letter 20 Februari DJP/Judicial yaitu transitional country-by-country report transitional country-by-country report safe
periods 2019 2025/February Review filed by
20, 2025 DGT safe harbor (“CbCR Safe Harbor”). harbour (“CbCR Safe Harbor”). Based on its
PPN SKP Lebih Bayar/ Rp746.870.324 Rp1.536.216.887 PUT-011217.16/ Peninjauan Banding/
Berdasarkan penilaian sesuai dengan assessment under the full Pillar 2 Rules and
Agustus 2020/ Overpayment of 2022/PP/M.IVB Kembali Appeal Peraturan Pillar 2 secara penuh dan CbCR CbCR Safe Harbour, the Group has
VAT August 2020 Tax Assessment Tahun 2025 diajukan oleh Safe Harbor, Grup menentukan bahwa tidak
Letter DJP/Judicial determined that no top-up tax is payable under
20 Februari Review filed by terdapat pajak tambahan yang terutang the Pillar 2 Rules.
2025/February DGT berdasarkan Peraturan Pillar 2.
20, 2025
99 100
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2025 Management Business Company Corporate Sustainability
248 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 249
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued) 25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
. . KEUANGAN LAINNYA INSTITUTION
h. Pajak Penghasilan Pilar Dua (lanjutan) h. Pillar Two income taxes (continued)
Grup mendapatkan pinjaman jangka panjang dari The Group obtained loan from Banks and Other
Untuk tahun yang berakhir pada tanggal 31 For the year ended December 31, 2025, the Bank dan Lembaga Keuangan Lainnya serta Financial Institutions and through the issuance of
Desember 2025, Grup telah menerapkan Group has applied amendment to PSAK 212: penerbitan instrumen pinjaman Perusahaan. the Company’s loan instrument.
amandemen PSAK 212: Pajak Penghasilan Income Taxes, which provides a mandatory
yang memberikan pengecualian wajib Pinjaman yang diperoleh Perusahaan dan Entitas The Company’s and its Subsidiaries debt from
temporary exception from the recognition or Anaknya dari Bank dan Lembaga Keuangan Bank and Other Financial Institution consists of the
sementara atas pengakuan atau disclosure of deferred taxes related to Pillar 2 Lainnya terdiri dari: following:
pengungkapan pajak tangguhan terkait Rules.
dengan Peraturan Pillar 2. 2025 2024
Berdasarkan informasi yang tersedia saat ini, Based on currently available information, the Pinjaman jangka pendek Short-term loan
Grup tidak mengharapkan adanya dampak Group does not expect any material impact on Pihak ketiga Third parties
material terhadap laporan keuangan the consolidated financial statements. Dolar Amerika Serikat United States Dollar
konsolidasian. PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk - 236.705.987.209 (Persero) Tbk
24. BEBAN AKRUAL 24. ACCRUED EXPENSES PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk - 120.246.955.194 (Persero) Tbk
Akun ini terdiri dari: This account consists of: PT Bank Mandiri (Persero) PT Bank Mandiri (Persero)
Tbk - 35.643.291.761 Tbk
2025 2024
Rupiah Rupiah
Kontrak jasa 850.469.436.250 325.808.281.846 Contract services PT Bank Maybank Indonesia PT Bank Maybank Indonesia
Bunga 97.830.423.716 120.888.201.094 Interest Tbk 50.000.000.000 40.000.000.000 Tbk
Jasa manajemen dan dukungan Management and technical support PT Bank Tabungan Negara PT Bank Tabungan Negara
teknis 10.937.004.812 9.288.121.715 service (Persero) Tbk - 339.180.336.316 (Persero) Tbk
Jasa profesional 10.417.827.086 22.051.779.311 Professional fees PT Bank Mandiri (Persero) PT Bank Mandiri (Persero)
Tbk - 104.518.763.800 Tbk
Gas 9.925.529.130 9.558.836.957 Gas
PT Bank Negara Indonesia PT Bank Negara Indonesia
Sewa 4.082.491.982 3.053.374.557 Rental (Persero) Tbk (Persero) Tbk
- 7.634.445.950
Asuransi 3.577.970.229 - Insurance
Total 50.000.000.000 883.929.780.230 Total
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 Pinjaman jangka panjang Long-term loan
Dikurangi porsi jangka pendek 747.917.722.754 418.497.181.717 Less current portion Pihak berelasi Related parties
Porsi jangka panjang 249.419.441.840 85.958.175.600 Long-term portion Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk Indonesia 1906 Tbk (Note
Akrual kontrak jasa terutama terkait dengan Accrued contract services mainly related to major (Catatan 8e) *) - 52.526.500.000 8e) *)
komitmen biaya pemeliharaan besar untuk proyek overhaul commitment cost related to DEB Pihak ketiga Third parties
perpanjangan DEB dan ELB CCPP. extension project and ELB CCPP.
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
101 102
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2025 Management Business Company Corporate Sustainability
250 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 251
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL 25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued) KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman yang diperoleh Perusahaan dan Entitas The Company’s and its Subsidiaries debt from PT Medco Power Indonesia (“MPI”) PT Medco Power Indonesia (“MPI”)
Anaknya dari Bank dan Lembaga Keuangan Bank and Other Financial Institution consists of the
Lainnya terdiri dari: (lanjutan) following: (continued) PT Bank Woori Saudara Indonesia 1906 Tbk - PT Bank Woori Saudara Indonesia 1906 Tbk -
Fasilitas Kredit Pendanaan Umum General Funding Credit Facility
2025 2024 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
Pinjaman jangka panjang (lanjutan) Long-term loan (continued) Indonesia 1906 Tbk (“BWS”) sebesar 1906 Tbk (“BWS”) amounting to US$20,000,000
Pihak ketiga (lanjutan) Third parties (continued) AS$20.000.000 dengan jangka waktu 2 tahun. with 2 years tenor. The loan facility is unsecured.
Rupiah Rupiah 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
PT Bank Mandiri (Persero) PT Bank Mandiri (Persero) beberapa kali hingga 25 Agustus 2023. Pada 25 extend the credit facility with BWS for
Tbk 679.732.556.455 - Tbk Agustus 2023, MPI melakukan perpanjangan US$11,500,000 with 9 months tenor.
PT Bank Syariah Indonesia PT Bank Syariah Indonesia fasilitas kredit di BWS sebesar AS$11.500.000
(Persero) Tbk 252.776.950.000 180.081.000.000 (Persero) Tbk dengan jangka waktu 9 bulan.
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 Pada tanggal 25 Januari 2024, MPI melakukan On January 25, 2024, MPI has made voluntary
(Persero) Tbk 126.000.000.000 144.000.000.000 (Persero) Tbk pelunasan dipercepat sebesar AS$11.000.000 repayment amounting to US$11,000,000 to BWS.
PT Bank Negara Indonesia PT Bank Negara Indonesia kepada BWS.
(Persero) Tbk 33.905.931.882 14.057.074.801 (Persero) Tbk
PT Bank Maybank Indonesia PT Bank Maybank Indonesia Pada tanggal 30 Mei 2024, MPI melakukan On May 30, 2024, MPI signed a credit facility
Tbk - 695.805.775.000 Tbk penandatanganan perjanjian kredit dengan BWS agreement with BWS US$8,000,000 with 2 years
PT Mandiri Tunas Finance - 240.350.000 PT Mandiri Tunas Finance
sebesar AS$8.000.000 dengan jangka waktu 2 tenor. The loan facility is unsecured.
tahun. Fasilitas ini tidak dijamin dengan agunan
Biaya transaksi pinjaman yang Unamortized loan transaction khusus.
belum diamortisasi (367.720.448.522) (361.215.413.710) costs
Selama tahun 2024, MPI melakukan penarikan atas During 2024, MPI has withdrawn BWS facility
Total 7.024.461.688.378 5.943.276.006.661 Total fasilitas BWS sebesar AS$3.250.000. US$3,250,000.
Dikurangi bagian yang jatuh tempo
dalam satu tahun 609.253.782.578 340.930.502.489 Less current maturities 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.
Bagian jangka panjang - neto 6.415.207.905.800 5.602.345.504.172 Long-term maturities - net
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Tingkat suku bunga per tahun untuk pinjaman dari bank Annual interest rates on loans from bank and other Fasilitas Musyarakah Musyarakah Facility
dan lembaga keuangan lainnya berkisar: financial institutions ranging:
Pada tanggal 25 September 2020, MPI On September 25, 2020, MPI signed credit facility
2025 2024
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.
Rupiah 5,90% - 8,50% 4,55% - 8,50% Rupiah fasilitas sebesar Rp400.000.000.000. Fasilitas ini The loan facility is unsecured.
Dolar Amerika Serikat 5,40% - 6,95% 3,92% - 6,30% United States Dollar 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.
*) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk *) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk Rp155.500.000.000 kepada BSI.
tidak lagi diklasifikasikan sebagai pihak berelasi bagi Grup. ceased to be a related party of the Group.
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Musyarakah dan Kafalah bil Ujrah Musyarakah and Kafalah bil Ujrah Facility
Berdasarkan perjanjian atas pinjaman-pinjaman di Under its loan agreements, the Group is subject to Pada tanggal 28 Mei 2021, MPI menandatangani On May 28, 2021, MPI signed Akad Musyarakah
atas, Grup harus mematuhi batasan-batasan various covenants, among others, to obtain written Akad Musyarakah sebesar AS$30.000.000 dan US$30,000,000 and Kafalah bil Ujrah
tertentu, antara lain untuk memperoleh persetujuan approval from the lenders before entering into Kafalah bil Ujrah sebesar AS$10.000.000 dengan US$10,000,000 with BSI, with 3 years tenor. On
tertulis dari pemberi pinjaman sebelum melakukan certain transactions such as mergers, acquisitions, BSI, dengan jangka waktu 3 tahun. Pada tanggal May 31, 2021, MPI utilized the facility
transaksi-transaksi tertentu seperti mengadakan liquidation or change in status and Articles of 31 Mei 2021, MPI melakukan penarikan atas US$13,000,000. The loan facility is unsecured.
penggabungan usaha, pengambilalihan, likuidasi Association, reducing the authorized, issued and fasilitas tersebut sebesar AS$13.000.000. Fasilitas
atau perubahan status serta Anggaran Dasar, fully paid capital; restrictions on lending money to ini tidak dijamin dengan agunan khusus.
mengurangi modal dasar, ditempatkan dan disetor third parties; negative pledges, with certain
penuh; pembatasan dalam pemberian pinjaman exceptions; restrictions on change in core business Pada tanggal 7 Februari 2024, MPI melakukan On February 7, 2024, MPI has made voluntary
kepada pihak ketiga; penjaminan negatif (negative activities and declaring and paying dividends in pelunasan dipercepat sebesar AS$7.200.000 BSI. repayment US$7,200,000 to BSI.
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.
103 104
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2025 Management Business Company Corporate Sustainability
252 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 253
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL 25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued) KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (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 - PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk
Fasilitas Musyarakah Musyarakah Facility 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
Pada tanggal 27 April 2022, MPI menandatangani On April 27, 2022, MPI has entered into a Line dengan BMRI sebesar Rp1.000.000.000.000 with 48 months tenor since signing date or until
perjanjian Line Facility Pembiayaan Musyarakah Facility Musyarakah Credit Facility with BSI dengan jangka waktu 48 bulan dari tanggal March 31, 2029, whichever occurs earlier.
dengan BSI sebesar Rp750.000.000.000 dengan Rp750,000,000,000 with 4 years tenor from the penandatanganan fasilitas atau tanggal 31 Maret
jangka waktu 4 tahun dari tanggal signing date. On May 17, 2022, MPI has withdrawn 2029, mana yang lebih dahulu terjadi.
penandatanganan. Pada tanggal 17 Mei 2022, MPI Rp750,000,000,000.
melakukan penarikan atas fasilitas ini sebesar PT Bank Maybank Indonesia Tbk PT Bank Maybank Indonesia Tbk
Rp750.000.000.000. Pada tanggal 16 Mei 2024, MPI melakukan On May 16, 2024, MPI signed a credit facility
Pada tanggal 15 Agustus 2022, BSI melakukan On August 15, 2022, BSI transferred a loan of penandatanganan perjanjian kredit dengan PT agreement with PT Bank Maybank Indonesia Tbk
pengalihan pinjaman senilai Rp336.875.000.000 Rp336,875,000,000 to PT Sarana Multi Bank Maybank Indonesia Tbk ("Maybank") sebesar ("Maybank") Rp780,000,000,000 with details:
kepada PT Sarana Multi Infrastruktur (Persero) Infrastruktur (Persero) (“SMI”) and the loan become Rp780.000.000.000 dengan rincian:
(“SMI”) dan pinjaman tersebut menjadi pinjaman syndicated loan.
sindikasi. – 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
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment jangka waktu 60 bulan sejak tanggal tenor since signing date.
pembayaran cicilan terjadwal dan percepatan and early full repayment to BSI amounting to penandatanganan.
pelunasan pembayaran atas hutang BSI sebesar Rp295,000,000,000. – Pinjaman Promes Berulang sampai – Revolving Promissory Loan with maximum
Rp295.000.000.000. maksimal Rp80.000.000.000 dengan credit Rp80,000,000,000 with tenor until
PT Bank Negara Indonesia (Persero) Tbk - PT Bank Negara Indonesia (Persero) Tbk - Term jangka waktu sampai 13 Mei 2025. May 13, 2025.
Fasilitas Term Loan Loan Facility
Pada tanggal 28 Juni 2021, MPI menandatangani On June 28, 2021, MPI signed Term Loan Credit Fasilitas ini tidak dijamin dengan agunan khusus. This facility is unsecured loan.
Perjanjian Fasilitas Term Loan sebesar Facility agreement Rp399,000,000,000 with PT Pada 21 Mei dan 24 Juni 2024, MPI melakukan On May 21 and June 24, 2024, MPI has withdrawn
Rp399.000.000.000 dengan PT Bank Negara Bank Negara Indonesia (Persero) Tbk. (“BNI”). This penarikan pinjaman masing-masing sebesar Rp167,769,000,000 and Rp80,000,000,000,
Indonesia (Persero) Tbk. (“BNI”). Fasilitas ini tidak facility is unsecured. Rp167.769.000.000 dan Rp80.000.000.000 dari respectively, from Maybank.
dijamin dengan agunan khusus. Maybank.
Pada 29 Maret 2022, MPI mengajukan On March 29, 2022, MPI proposed an extension of Pada tanggal 24 Juli 2024, MPI melakukan On July 24, 2024, MPI has settled revolving loan
perpanjangan availability period atas fasilitas Term the availability period for the Term Loan facility at pelunasan pinjaman promes berulang sebesar Rp80,000,000,000 to Maybank.
Loan di BNI. Pada 19 April 2022, BNI memberikan BNI. On April 19, 2022, BNI gave approval for the Rp80.000.000.000 dari Maybank.
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. Pada tanggal 18 dan 24 September 2024, PT On September 18 and 24, 2024, PT Medco Power
tersebut sebesar Rp200.000.000.000. Medco Power Indonesia melakukan penarikan Indonesia has withdrawn revolving promissory loan
pinjaman promes berulang dengan total Rp80,000,000,000 to Maybank.
Pada tanggal 4 Maret 2024, MPI melakukan On March 4, 2024, MPI has made voluntary Rp80.000.000.000 dari Maybank.
pelunasan dipercepat sebesar Rp399.000.000.000 repayment Rp399,000,000,000 to BNI.
kepada BNI. 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
PT Bank Tabungan Negara (Persero) Tbk – PT Bank Tabungan Negara (Persero) Tbk – Rp496.875.000.000 dan Rp35.356.000.000 dari Maybank.
Fasilitas Corporate Line Corporate Line Facility Maybank.
Pada tanggal 22 November 2022, MPI telah On November 22, 2022, MPI has signed Corporate Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment
menandatangani perjanjian Corporate Line Facility Line Facility agreement with PT Bank Tabungan pembayaran cicilan terjadwal sebesar Rp4,194,225,000 to Maybank.
dengan PT Bank Tabungan Negara (Persero) Tbk Negara (Persero) Tbk (“BTN”) which consist of Rp4.194.225.000 kepada Maybank.
(“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 Selama tahun 2025, MPI telah melakukan cicilan During 2025, MPI has paid scheduled installment
tahun sejak tanggal penandatanganan dan Cash Rp150,000,000,000 with 5 year tenor since signing terjadwal dan pembayaran promes berulang and revolving promissory loan Rp57,500,000,000 to
Loan sebesar Rp150.000.000.000 dengan jangka date. sebesar Rp57.500.000.000 kepada Maybank. Maybank.
waktu 5 tahun sejak tanggal penandatanganan. PT Bank KEB Hana Indonesia ("Bank Hana") PT Bank KEB Hana Indonesia ("Bank Hana")
Pada tanggal 8 Februari 2023, MPI melakukan On February 8, 2023, MPI has withdrawn it's facility Pada 19 Juni 2024, MPI melakukan penandatangan On June 19, 2024, MPI signed a credit facility
penarikan pinjaman dari BTN sebesar Rp150,000,000,000 from BTN. perjanjian kredit dengan PT Bank KEB Hana agreement with PT Bank KEB Hana Indonesia
Rp150.000.000.000. Indonesia sebesar Rp150.000.000.000. Fasilitas ini Rp150,000,000,000. This facility is unsecured.
Pada tanggal 21 Desember 2023, MPI On December 21, 2023, MPI signed additional tidak dijamin dengan agunan khusus.
menandatangani tambahan fasilitas Non-Cash Non-Cash Loan facility Rp500,000,000,000 and Pada 26 Juni 2024, MPI melakukan penarikan On June 26, 2024, MPI has withdrawn
Loan menjadi Rp500.000.000.000 dan maturity date extention to November 22, 2025. pinjaman sebesar Rp150.000.000.000 dari Bank Rp150,000,000,000 from Bank Hana.
perpanjangan jangka waktu fasilitas hingga 22 Hana.
November 2025.
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled installment
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment pembayaran cicilan terjadwal sebesar Rp16,500,000,000 to Bank Hana.
pembayaran cicilan terjadwal sebesar Rp6,000,000,000 to BTN. Rp16.500.000.000 kepada Bank Hana.
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.
105 106
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2025 Management Business Company Corporate Sustainability
254 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 255
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL 25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued) KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued) PT Energi Listrik Batam (“ELB”) PT Energi Listrik Batam (“ELB”)
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk - Pada tanggal 16 Oktober 2023, ELB telah On October 16, 2023, ELB signed project financing
Fasilitas Pembiayaan Berdasarkan Prinsip Syariah Facility menandatangani Perjanjian Pembiayaan Proyek agreement with PT Bank Syariah Indonesia Tbk
Syariah dengan PT Bank Syariah Indonesia Tbk dengan US$86,900,000. This financing aims to refinance
Pada 18 Desember 2024, MPI melakukan On December 18, 2024, MPI signed syariah facility fasilitas pinjaman tunai sebesar AS$86.900.000. Simple Cycle Gas Power Plant 2x35 MW and to
penandatangan perjanjian berdasarkan prinsip agreement with PT Bank Syariah Indonesia Tbk Pembiayaan ini bertujuan untuk refinancing finance Combine Cycle Gas Power Plant 39 MW
syariah dengan PT Bank Syariah Indonesia (Persero) ("BSI") Rp750,000,000,000. This facility pembangkit listrik berupa PLTG Simple Cycle located in Tanjung Uncang, Batam.
(Persero) Tbk ("BSI") sebesar Rp750.000.000.000. is unsecured. Power Plant 2x25 MW dan Combine Cycle Power
Fasilitas ini tidak dijamin dengan agunan khusus. Plant 39 MW berlokasi di Tanjung Uncang, Batam.
Pada 23 Desember 2024, MPI melakukan On December 23, 2024, MPI has withdrawn Pada tanggal 17 Oktober 2023, ELB melakukan On October 17, 2023, ELB made a withdrawal
penarikan pinjaman sebesar Rp180.081.000.000 Rp180,081,000,000 from BSI. penarikan sebesar AS$18.194.796 dan pada US$18,194,796 from PT Bank Syariah Indonesia
dari BSI. 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
Pada 7 Januari 2025, MPI melakukan penarikan On Janury 7, 2025, MPI has withdrawn Musyarakah Mustanaqisah dari PT Bank Syariah US$18,194,796.
pinjaman sebesar Rp86.000.000.000 dari BSI. Rp86,000,000,000 from BSI. Indonesia Tbk sebesar AS$18.194.796.
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled installment Pada 12 Desember 2023, ELB melakukan On December 12, 2023, ELB has withdrawn
pembayaran cicilan terjadwal sebesar Rp13,304,050,000 to BSI. penarikan pinjaman sebesar AS$2.000.000 dari PT US$2,000,000 from PT Bank Syariah Indonesia
Rp13.304.050.000 kepada BSI. Bank Syariah Indonesia Tbk. Tbk.
Selama tahun 2024, ELB melakukan penarikan During 2024, ELB has withdrawn US$4,000,000
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”) pinjaman sebesar AS$4.000.000 dari BSI. from BSI.
Pada tanggal 20 Maret 2019, PT Medco Ratch On March 20, 2019, PT Medco Ratch Power Riau Selama tahun 2024, ELB melakukan pembayaran During 2024, ELB has paid scheduled and
Power Riau (“MRPR”) menandatangani perjanjian (“MRPR”) entered into a financing agreement with a cicilan terjadwal dan tidak terjadwal sebesar unscheduled installment US$5,670,593 to BSI.
pendanaan dengan konsorsium pemberi pinjaman consortium of lenders to provide funding in an AS$5.670.593 kepada BSI.
untuk menyediakan pendanaan dengan jumlah aggregate amount of approximately US$222 million Selama tahun 2025, ELB melakukan pembayaran During 2025, ELB has paid scheduled and
agregat sekitar AS$222 juta terkait dengan related to the development of a 275-megawatt cicilan terjadwal dan tidak terjadwal sebesar unscheduled installment US$5,989,011 to BSI.
pengembangan fasilitas pembangkit listrik tenaga (MW) gas-fired power plant facility with a maturity AS$5.989.011 kepada BSI.
gas 275-megawatt (MW) dengan waktu jatuh tempo date of due in March 2039. The consortium of Selama tahun 2025, ELB melakukan penarikan During 2025, ELB has withdrawn US$55,917,785
pada Maret 2039. Konsorsium pemberi pinjaman lenders consists of Asian Development Bank pinjaman sebesar AS$55.917.785 dari BSI. from BSI.
terdiri dari Asian Development Bank (“ADB”), (“ADB”), International Finance Corporation (“IFC”),
International Finance Corporation (“IFC”), MUFG MUFG Bank Ltd (“MUFG”) and Sumitomo Mitsui PT Medco Cahaya Geothermal ("MCG") PT Medco Cahaya Geothermal ("MCG")
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 Sepanjang tahun 2024, MCG melakukan During 2024, MCG issued SKBDN UPAS and LC
aset tetap yang digunakan dalam aset proyek jasa service project assets, rights to receivables from penerbitan SKBDN UPAS dan LC UPAS kepada UPAS to various vendors Rp470,076,245,801 and
konsesi, hak atas piutang atas proyek dan gadai the project and pledge of shares in the project. berbagai macam vendor sejumlah US$10,702,340 for Ijen Geothermal project. This
saham dalam proyek. 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
Pada tanggal 28 Juni 2023, MRPR On June 28, 2023, MRPR signed an Amendment menggunakan fasilitas KMK MPI di BNI, Kredit MPI's Non-Cash Loan Facility from BTN.
menandatangani perjanjian Amendemen dan and Restatement agreement to the Senior Secured Non-Tunai MPI dari BMRI, dan Kredit Non-Tunai
Pernyataan Kembali atas Perjanjian Senior Debt Agreement with the Consortium of lenders Perusahaan dari BTN.
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. Selama tahun 2025, MCG melakukan penerbitan During 2025, MCG issued SKBDN UPAS and LC
menjadi Daily Non-Cumulative Compounded SKBDN UPAS dan LC UPAS kepada berbagai UPAS to various vendors Rp3,325,613,246 for Ijen
SOFR. 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
Selama tahun 2024, MRPR melakukan During 2024, MRPR has paid scheduled installment Non-Tunai MPI dari BMRI, dan Kredit Non-Tunai Facility from BTN.
pembayaran cicilan terjadwal ke konsorsium to the consortium of lenders US$9,596,579. Perusahaan dari BTN.
pemberi pinjaman Riau sebesar AS$9.596.579.
PT Medcosolar Bali Timur ("MSBT") PT Medcosolar Bali Timur ("MSBT")
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 Pada 20 Maret 2024, PT Medcosolar Bali Timur On March 20, 2024, PT Medcosolar Bali Timur
Pemberi Pinjaman Riau, masing-masing sebesar amounting US$10,236,350 and US$9,596,579, menandatangani Perjanjian Pembiayaan Proyek signed a Project Financing Agreement
AS$10.236.350 dan AS$9.596.579. respectively. 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.
107 108
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2025 Management Business Company Corporate Sustainability
256 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 257
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL 26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Instrumen pembiayaan yang diterbitkan Grup terdiri The financing instrument issued by the Group
Pada tanggal 31 Desember 2025, Grup memiliki As of December 31, 2025, the Group has the dari: consists of the following:
Fasilitas Kredit Bank dan Fasilitas Umum Bank following Unused Credit Bank Facility and General
yang belum digunakan sebagai berikut: Bank Facility: 2025 2024
Obligasi Bonds
Jatuh tempo pada tahun 2025 - 258.000.000.000 Due in 2025
Fasilitas yang Tidak
Digunakan pada Jatuh tempo pada tahun 2030 300.000.000.000 - Due in 2030
Total Fasilitas Tanggal Pada Akhir Jatuh tempo pada tahun 2032 200.000.000.000 - Due in 2032
Tanggal 31
Entitas/Entity Kreditur/Lenders Fasilitas/ Facility Maksimum/Maximum
Desember 2025/ Sukuk Wakalah Sukuk Wakalah
Facility Amount Unused Portion of
the Facility as of Jatuh tempo pada tahun 2025 - 792.690.000.000 Due in 2025
December 31, 2025 Jatuh tempo pada tahun 2026 10.300.000.000 10.300.000.000 Due in 2026
MPI PT Bank Negara Fasilitas Non-Cash AS$85.250.000/ AS$80.523.845/ Jatuh tempo pada tahun 2027 526.305.000.000 526.305.000.000 Due in 2027
Indonesia (Persero) Loan/ US$85,250,000 US$80,523,845 Jatuh tempo pada tahun 2028 125.035.000.000 - Due in 2028
Tbk Non-Cash Loan Facility
Jatuh tempo pada tahun 2029 494.490.000.000 494.490.000.000 Due in 2029
MPI PT Bank Mandiri Fasilitas Perbankan/ Rp1.650.000.000.000 Rp701.178.564.452 Jatuh tempo pada tahun 2030 816.955.000.000 - Due in 2030
(Persero) Tbk Banking Facility
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
MPI PT Bank Tabungan Fasilitas Non-Cash Rp850.000.000.000 Rp727.755.243.772
Negara (Persero) Tbk Loan/ Biaya penerbitan obligasi dan
Non-Cash Loan Facility sukuk wakalah yang belum Unamortized issuance costs of
diamortisasi (18.334.895.378) (9.717.598.365) bonds and sukuk wakalah
MPI PT Bank Maybank Fasilitas Perbankan/ Rp200.000.000.000 Rp150.000.000.000
Indonesia Tbk Banking Facility 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
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 Porsi jangka pendek 10.300.000.000 1.050.690.000.000 Current portion
1906 Tbk
Informasi lain mengenai utang jangka panjang Further information relating to other long-term debts
MCG PT Sarana Multi Fasilitas Perbankan/ AS$144.900.000/ AS$39.909.820/ lainnya adalah sebagai berikut: are as follows:
Infrastruktur Banking Facility US$144,900,000 US$39,909,820
(Persero) Utang jangka Kupon per
panjang/ Long- Peringkat/ Jatuh tempo/ tahun/ Coupon Jaminan/
ELB PT Bank Syariah Fasilitas Non-Cash AS$10.000.000/ AS$1.682.128/ term debt Pokok/ Principal Rating Terdaftar/ Listed Maturity p.a Security
Indonesia (Persero) Loan/ US$10,000,000 US$1,682,128 Obligasi Rupiah Seri B PT Pemeringkat Bursa Efek Dibayar 10,25% Obligasi ini tidak
Tbk Non-Cash Loan Facility 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/
MSBT PT Bank Negara Fasilitas Perbankan/ AS$13.263.000/ AS$4.250.688/ Rp63,000,000,000 (2023) Exchange Fully paid in July Payable quarterly These bonds are
Indonesia (Persero) Banking Facility US$13,263,000 US$4,250,688 2023 unsecured.
Tbk Seri C Dibayar 10,75%
Rp258.000.000.000/ seluruhnya pada Terutang setiap
MSBT PT Bank Negara Fasilitas Perbankan/ Rp50.218.000.000 Rp16.312.068.574 Tranche C bulan Juli 2025/ kuartal/ 10.75%
Indonesia (Persero) Banking Facility Rp258,000,000,000 Fully paid in July Payable quarterly
Tbk 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
109 110
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2025 Management Business Company Corporate Sustainability
258 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 259
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT (continued) 26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT (continued)
(lanjutan) (lanjutan)
Informasi lain mengenai utang jangka panjang Further information relating to other long-term debts a. Pembatasan-pembatasan atas penerbitan a. Covenants related to issuance of Bond and
lainnya adalah sebagai berikut: (lanjutan) are as follows: (continued) Obligasi dan Sukuk Wakalah Sukuk Wakalah
Utang jangka Kupon per
panjang/ Long- Peringkat/ Jatuh tempo/ tahun/ Coupon Jaminan/ Berdasarkan syarat-syarat dan kondisi-kondisi Under the terms and conditions of the
term debt Pokok/ Principal Rating Terdaftar/ Listed Maturity p.a Security dari perjanjian sehubungan dengan penerbitan agreements related to the issuance of Bond
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Dibayar 8,00% Obligasi ini tidak Obligasi dan Sukuk Wakalah, Perusahaan and Sukuk Wakalah, the Company is subject
Berkelanjutan Rp280.000.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan harus mematuhi pembatasan tertentu, antara to various covenants, among others, obtaining
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 lain memperoleh persetujuan tertulis dari Wali approval from Trustee prior to undertaking
Registered Sukuk in August 2025 unsecured. Amanat sebelum melakukan transaksi- certain actions such as: mergers or
Wakalah I Phase I Seri B Agustus 2027/ 9,25%
Rp220.000.000.000/ August 2027 Terutang setiap transaksi tertentu seperti ketika melakukan acquisitions, reducing the authorized, issued
Tranche B kuartal/ 9.25% penggabungan atau peleburan dengan and fully paid capital, pledging and transferring
Rp220,000,000,000 Payable quarterly
perusahaan lain, mengurangi modal dasar, the Company’s assets, restrictions on granting
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Dibayar 9,00% Obligasi ini tidak modal ditempatkan dan disetor penuh, loans to third parties, changing the main
Berkelanjutan Rp469.690.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan menjaminkan dan mengalihkan aset
Rupiah I Tahap II/ Tranche A (PEFINDO): A Indonesia Stock bulan Desember kuartal/ 9.00% agunan khusus/ business activities of the Company, issuing
Rupiah Shelf Rp469,690,000,000 (Sy) (2023) Exchange 2025/ Fully paid Payable quarterly These bonds are Perusahaan, memberikan pinjaman atau senior debt, filing for bankruptcy or delaying
Registered Sukuk in December unsecured. jaminan kepada pihak ketiga, mengubah loan payments, declaring and paying
Wakalah I Phase 2025
II bisnis utama Perusahaan, menerbitkan dividends in excess of 50% payout ratio or
Seri B Desember 2027/ 9,50% obligasi senior, mengajukan permintaan pailit
Rp130.310.000.000/ December 2027 Terutang setiap negative impact to the ability of the Company
Tranche B kuartal/ 9.50% atau penundaan pembayaran pinjaman, for making payment of coupon and/or return
Rp130,310,000,000 Payable quarterly mengumumkan dan membayar dividen and principal of Bond and Sukuk Wakalah and
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Januari 2027/ 8,55% Obligasi ini tidak melebihi 50% payout ratio atau yang berakibat
Berkelanjutan Rp175.995.000.000/ Efek Indonesia Indonesia/ January 2027 Terutang setiap dijamin dengan requirement to comply with certain financial
negatif pada kemampuan Perusahaan dalam
Rupiah I Tahap III/ Tranche A (PEFINDO): A Indonesia Stock kuartal/8.55% agunan khusus/ ratios.
Rupiah Shelf Rp175,995,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are melakukan pembayaran kupon dan/atau imbal
Registered Sukuk unsecured. hasil serta pokok obligasi dan sukuk wakalah,
Wakalah I Phase Seri B Januari 2029/ 9,50%
III Rp494.490.000.000/ January 2029 Terutang setiap dan harus mematuhi rasio-rasio keuangan
Tranche B kuartal/9.50%
Rp494,490,000,000 Payable quarterly tertentu.
Seri C Januari 2031/ 10,00% Manajemen menyatakan bahwa selama tahun Management represented that during the
Rp79.515.000.000/ January 2031 Terutang setiap
Tranche C kuartal/10.00% pelaporan dan pada tanggal penyelesaian reporting periods and as of the completion
Rp79,515,000,000 Payable quarterly laporan keuangan konsolidasian, Grup tidak date of the consolidated financial statements,
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Februari 2028/ 8,00% Obligasi ini tidak pernah mengalami kondisi gagal bayar atas the Group has never defaulted on paying its
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/ obligasi yang telah jatuh tempo. maturing bonds.
IV/Rupiah Shelf Rp125,035,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are
Registered Sukuk unsecured. Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024,
Wakalah I Phase Seri B Februari 2030/ 9,00% manajemen berpendapat bahwa Grup telah management is in opinion that the Group has
IV Rp816.955.000.000/ February 2030 Terutang setiap
Tranche B kuartal/9.00% mematuhi pembatasan tersebut dan semua complied with all covenants and meet the
Rp816,955,000,000 Payable quarterly rasio keuangan yang dipersyaratkan dalam financial ratios required to be maintained
penerbitan Obligasi dan Sukuk Wakalah. under the agreements related to the issuance
Seri C Februari 2032/ 10,00%
Rp208.010.000.000/ February 2032 Terutang setiap of Bond and Sukuk Wakalah.
Tranche C kuartal/10.00%
Rp208,010,000,000 Payable quarterly
b. Wali Amanat b. Trustee
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/ Grup telah menunjuk PT Bank Mega, Tbk The Group engaged PT Bank Mega, Tbk. as
Tahap I Tahun Rp300,000,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are sebagai Wali Amanat yang berperan sebagai Trustees to act as the intermediaries between
2025/Rupiah unsecured.
Shelf Registered Seri B Juli 2032/July 9,00% perantara antara Grup dengan Pemegang the Group and the holders of Bond and Sukuk
Rupiah Bond I Rp200.000.000.000/ 2032 Terutang setiap Obligasi dan Sukuk Wakalah yang diterbitkan Wakalah issued by the Group.
Phase I of 2025 Tranche B kuartal/9.00%
Rp200,000,000,000 Payable quarterly 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.
111 112
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2025 Management Business Company Corporate Sustainability
260 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 261
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
27. DERIVATIF 27. DERIVATIVE 27. DERIVATIF (lanjutan) 27. DERIVATIVE (continued)
. .
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 Informasi lebih lanjut mengenai derivatif yang Further information relating to the derivatives
dilakukan oleh MRPR adalah sebagai berikut: undertaken by MRPR are as follows:
untuk mengelola risiko atas tingkat bunga. Seluruh contracts entered into by the Group have
kontrak yang dilakukan Grup mempunyai kewajiban underlying obligations.
yang mendasari.
Nilai Nominal/ Notional Amount Tanggal
Pertukaran
Dalam mata Tanggal
Pihak ketiga/ Jenis/ Akhir/ Syarat dan ketentuan/
Dalam Rp/ uang asing - Efektif/
2025 2024 Third Parties Type Effective date Final Terms and condition
In Rp AS$/ In foreign Exchange
Liabilitas currency - US$ Date
Aset Derivatif/ Derivatif/ Keuntungan
Liabilitas Derivative Derivative (Kerugian)/
Derivatif/ Keuntungan Assets Liabilities Gain/ MUFG Bank, Perjanjian N/A 54.482.798 27 November 18 Maret 2039/ MRPR menerima suku
Pihak ketiga/ Third Aset Derivatif/ Derivative (Kerugian)/ Derivative Derivative (Loss)Gain/ Ltd. swap atas 2019/ March 18, bunga mengambang
parties Jenis/ Type Derivative Assets Liabilities Gain/ (Loss) Assets Liabilities (Loss) tingkat November 27, 2039 USD-SOFR 6 bulan
suku 2019 ditambah spread dan
PT Medco Ratch Power bunga / membayar suku bunga
Riau (MRPR)
Interest tetap per tahun setiap
MUFG Bank Ltd Perjanjian swap swap tanggal 23 Februari dan
atas tingkat suku
bunga/ Interest 23 Agustus/MRPR shall
rate swap 120.304.209.956 - (30.452.715.082) 150.756.925.038 - 21.559.398.968 receive a floating 6
International Finance Perjanjian swap months USD-SOFR
Corporation atas tingkat suku based interest rate plus
bunga/ Interest spread and pay a fixed
rate swap 72.620.780.486 - (17.911.947.393) 90.532.727.879 - 12.177.837.012 interest rate per annum on
Sumitomo Mitsui Banking Perjanjian swap every February 23 and
Corporation atas tingkat suku August 23.
bunga/ Interest
rate swap 120.364.044.834 - (30.159.093.319) 150.523.138.153 - 21.462.405.957
Sumitomo Perjanjian N/A 54.482.798 27 November 18 Maret 2039/
Jumlah/Total 313.289.035.276 - (78.523.755.794) 391.812.791.070 - 55.199.641.937 Mitsui swap atas 2019/ March 18,
Dikurangi yang jatuh Banking tingkat November 27, 2039
tempo dalam satu Corporation suku 2019
tahun/ bunga /
Less current portion 22.915.639.251 - 30.282.826.190 -
Interest
Bagian jangka panjang/ swap
Long-term portion 290.373.396.025 - 361.529.964.880 -
International Perjanjian N/A 31.676.045 27 November 18 Maret 2039/
Finance swap atas 2019/ March 18,
Corporation tingkat November 27, 2039
Bagian efektif atas perubahan nilai wajar derivatif The effective portion of changes in the fair value of suku 2019
bunga /
yang ditunjuk dan memenuhi syarat sebagai derivatives that are designated and qualify as cash Interest
lindung nilai arus kas diakui di penghasilan flow hedges is recognized in other comprehensive swap
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 28. LIABILITAS IMBALAN KERJA 28. ESTIMATED LIABILITY FOR EMPLOYEE
pelunasan pinjaman bank. borrowings. 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.
113 114
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2025 Management Business Company Corporate Sustainability
262 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 263
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
28. LIABILITAS IMBALAN KERJA (lanjutan) 28. ESTIMATED LIABILITY FOR EMPLOYEE 28. LIABILITAS IMBALAN KERJA (lanjutan) 28. ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS (continued) SERVICE ENTITLEMENTS (continued)
Liabilitas pensiun imbalan pasti dihitung The defined benefit obligations were d. Analisis mutasi liabilitas imbalan kerja untuk d. An analysis of the movements of the estimated
dengan menggunakan metode projected unit calculated using the projected unit credit tahun yang berakhir pada tanggal 31 liability for employee service entitlements as of
credit, berdasarkan asumsi berikut: method, based on the following key Desember 2025 dan 2024 adalah sebagai and for the year then ended December 31,
assumptions: berikut: 2025 and 2024 are as follows:
2025 2024
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 Imbalan kerja Imbalan kerja
lainnya/ lainnya/
Tingkat kematian Mortality rate UU 13/ 2003/ Other long- UU 13/ 2003/ Other long-
Tabel Mortalitas Tabel Mortalitas Law no.13 term benefits Total Law no.13 term benefits Total
Indonesia tahun 2019/ Indonesia tahun 2019/
Balance at beginning of
Indonesian Table of Indonesian Table 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
Mortality 2019 Mortality 2019 Employee service
Tingkat pengunduran diri 1% hingga usia 25 1% hingga usia 25 Resignation rate 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
menurun linear hingga menurun linear hingga Kerugian (keuntungan) Actuarial loss (gain)
0,05% hingga usia 54/ 0,05% hingga usia 54/ aktuarial diakui recognized as other
sebagai penghasilan comprehensive
1% up to age 25 1% up to age 25 komprehensif atas: income from:
decreasing linearly decreasing linearly Changes in
into 0.05% at age 54 into 0.05% at age 54 Perubahan asumsi demographic
demografi - - - - - - assumption
Proporsi pensiun dini 0% 0% Proportion of early retirement
Perubahan asumsi Changes in financial
Proporsi pensiun normal 100% 100% Proportion of normal retirement finansial 9.834.404.223 - 9.834.404.223 (4.440.632.000) - (4.440.632.000) assumption
Usia pensiun 56-58 56-58 Retirement age 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
b. Beban imbalan kerja untuk tahun yang b. The employee service entitlement costs for the pendapatan (exclude interest
berakhir pada tanggal 31 Desember 2025 dan year then ended December 31, 2025 and bunga) 31.530.000 - 31.530.000 - - - income)
2024 adalah sebagai berikut: 2024 are as follows: 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
2025 2024
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
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 e. Analisis mutasi nilai kini liabilitas imbalan kerja e. An analysis of the movements of the present
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 untuk tahun yang berakhir pada tanggal 31 value of obligation for the years then ended
Pendapatan bunga aset Interest income on plan
Desember 2025 dan 2024 adalah sebagai December 31, 2025 and 2024 are as follows:
program (355.000.000) - (355.000.000) - - - assets berikut:
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
2025 2024
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 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
c. Rincian liabilitas imbalan kerja pada tanggal 31 c. Details of the estimated liability for employee Nilai kini liabilitas
imbalan kerja awal
Present value of
obligation at
Desember 2025 dan 2024 adalah sebagai service entitlements as of December 31, 2025 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
berikut: and 2024 are as follows: 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
2025 2024
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
Imbalan kerja Imbalan kerja
lainnya/ lainnya/ Keuntungan aktuarial 5.701.167.223 - 5.701.167.223 (4.511.307.000) 1.412.359.000 (3.098.948.000) Actuarial gain
UU 13/ 2003/ Other long- UU 13/ 2003/ Other long-
Law no.13 term benefits Total Law no.13 term benefits Total 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
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
115 116
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2025 Management Business Company Corporate Sustainability
264 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 265
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
28. LIABILITAS IMBALAN KERJA (lanjutan) 28. ESTIMATED LIABILITY FOR EMPLOYEE 29. UTANG SEWA 29. LEASE LIABILITIES
SERVICE ENTITLEMENTS (continued)
2025 2024
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 Saldo awal tahun 22.459.487.529 30.216.326.332 Balance at beginning of year
2025 dan 2024 adalah sebagai berikut: and 2024 are as follows: Ditambah: Addition:
Penambahan tahun berjalan 51.446.539.893 9.821.671.231 Addition in current year
2025 2024 Beban bunga 5.910.620.281 1.892.957.700 Interest expense
Imbalan kerja Imbalan kerja Dikurangi: Less:
UU 13/2003/ lainnya/ lainnya/
Law Other long- UU 13/ 2003/ Other long- Pembayaran liabilitas sewa (20.434.841.117) (20.000.129.878) Repayment of lease liabilities
no.13/2003 term benefits Total Law no.13 term benefits Total
Selisih kurs 96.109.748 528.662.144 Foreign exchange effect
Kontribusi pada aset
program 10.000.000.000 - 10.000.000.000 - - - Plan assets contribution
Saldo akhir tahun 59.477.916.334 22.459.487.529 Balance at end of year
Pendapatan bunga aset Interest income on plan
program 355.000.000 - 355.000.000 - - - assets Dikurangi bagian yang jatuh tempo
dalam satu tahun (14.273.387.072) (5.994.120.857) Less current maturity
Imbal hasil atas aset
program (tidak Return on plan assets
termasuk (exclude interest Bagian jangka panjang 45.204.529.262 16.465.366.672 Long-term portion
pendapatan bunga) (31.530.000) - (31.530.000) - - - income)
Balance at end of Grup menyewa beberapa aset termasuk tanah, The Group leases several assets including land,
Saldo akhir tahun 10.323.470.000 - 10.323.470.000 - - - year
bangunan, peralatan kantor dan kendaraan, yang building, office equipment and vehicles which
Seluruh aset program ditempatkan sebagai All program assets are placed as cash and pada umumnya memiliki masa sewa antara 1 generally has lease term between 1 to 29 years
kas dan setara kas yang dikelola oleh Dana cash equivalents managed by the Financial sampai 29 tahun dengan tingkat diskonto sebesar with discount rate 7.42% - 11.38%.
Pensiun Lembaga Keuangan PT. AXA Mandiri Institution Pension Fund of PT. AXA Mandiri 7,42% - 11,38%.
Financial Services. Financial Services. 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.
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 30. KEPENTINGAN NON-PENGENDALI 30. NON-CONTROLLING INTEREST
pada tahun mendatang adalah sebagai as follows:
berikut:
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
2025 2024 berikut: follows:
Dalam 12 bulan mendatang 13.003.878.000 11.381.248.000 Within the next 12 months
2025 2024
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 PT Medco Ratch Power Riau 1.126.034.005.249 1.082.841.364.730 PT Medco Ratch Power Riau
Diatas 5 tahun 998.724.933.000 923.204.289.000 Beyond 5 years PT Medco Kansai Power PT Medco Kansai Power
Indonesia 880.338.671.808 866.916.940.561 Indonesia
Durasi rata-rata dari kewajiban imbalan kerja The average duration of the benefit obligation PT Medco Cahaya Geothermal 598.742.361.121 534.150.369.470 PT Medco Cahaya Geothermal
pada tanggal 31 Desember 2025 dan 2024 as of December 31, 2025 and 2024 is 8.14 - PT Medco Energi Menamas 199.521.271.263 191.661.773.245 PT Medco Energi Menamas
masing-masing sebesar 8,14 - 18,69 tahun 18.69 years and 7.34 - 17.91 years,
dan 7,34 - 17,91 tahun. respectively. 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
h. Pada tanggal 31 Desember 2025 dan 2024, h. A quantitative sensitivity analysis for significant PT Medco General Power PT Medco General Power
analisa sensitivitas atas asumsi-asumsi assumptions as of December 31, 2025 and Services 74.619.181.501 61.498.164.058 Services
aktuarial adalah sebagai berikut: 2024 is shown below: 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
2025 PT Medcosolar Bali Timur 2.306.202.465 (1.772.427.488) PT Medcosolar Bali Timur
Tingkat kenaikan gaji/ Salary PT Muara Enim Multi Power 281.370.029 278.024.614 PT Muara Enim Multi Power
Tingkat diskonto/ Discount rate increment rate
PT Medco Geothermal Sarulla 205.252.303 206.291.439 PT Medco Geothermal Sarulla
Kenaikan 1%/ (Penurunan 1%)/ Kenaikan 1%/ (Penurunan 1%)/
Increase 1 % (Decrease 1%) Increase 1% (Decrease 1%) PT Dalle Panaran 103.555.456 103.559.435 PT Dalle Panaran
PT Indo Medco Power 302.673 302.481 PT Indo Medco Power
Kenaikan Increase
(penurunan) (decrease) a PT Nawakara Energi Sumpur (450.474.872) (451.752.623) PT Nawakara Energi Sumpur
liabilitas imbalan defined benefit PT Sangsaka Agro Lestari (2.844.724.913) (9.795.974.815) PT Sangsaka Agro Lestari
kerja (2.278.885.317) 24.392.282.683 23.583.366.683 (1.774.792.317) obligation
PT Medco Solar Bali Barat (8.557.091.157) (7.804.329.297) PT Medco Solar Bali Barat
2024
Total 3.187.261.696.151 2.941.152.761.239 Total
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
117 118
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2025 Management Business Company Corporate Sustainability
266 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 267
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued) 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 d. Proporsi kepemilikan saham yang dipegang d. Proportion of equity interest held by non-
(rugi) neto entitas anak untuk tahun yang interests in the net profit (loss) of Subsidiaries oleh kepentingan non-pengendali adalah controlling interest are as follows:
berakhir pada tanggal 31 Desember 2025 dan for the years ended December 31, 2025 and sebagai berikut:
2024 adalah sebagai berikut: 2024 are as follows:
2025 2024
2025 2024
PT Medcosolar Bali Timur 49,00 % 49,00 % PT Medcosolar Bali Timur
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 99.582.491.245 55.217.351.852 Indonesia PT Medco Solar Bali Barat 49,00 % 49,00 % PT Medco Solar Bali Barat
PT Medco Cahaya Geothermal 44.949.070.037 44.651.179.967 PT Medco Cahaya Geothermal PT Medco Ratch Power Riau 49,00 % 49,00 % PT Medco Ratch Power Riau
PT Medco Ratch Power Riau 29.619.605.126 47.844.360.002 PT Medco Ratch Power Riau PT Medco Cahaya Geothermal 49,00 % 49,00 % PT Medco Cahaya Geothermal
PT Universal Batam Energy 14.950.480.485 13.343.322.297 PT Universal Batam Energy PT Medco Kansai Power PT Medco Kansai Power
Indonesia 40,00 % 40,00 % Indonesia
PT Medco General Power PT Medco General Power
Services 13.495.144.357 3.881.866.859 Services PT Universal Batam Energy 30,00 % 30,00 % PT Universal Batam Energy
PT Medco Energi Menamas 7.865.943.592 14.914.003.822 PT Medco Energi Menamas PT Sangsaka Agro Lestari 30,00 % 30,00 % PT Sangsaka Agro Lestari
PT Sangsaka Agro Lestari 6.944.812.797 (13.179.825.191) PT Sangsaka Agro Lestari PT Dalle Energy Batam 20,01 % 20,01 % PT Dalle Energy Batam
PT Dalle Energy Batam 6.116.308.847 (8.956.068.736) PT Dalle Energy Batam PT Muara Enim Multi Power 20,00 % 20,00 % PT Muara Enim Multi Power
PT Medcosolar Bali Timur 4.078.629.953 (1.304.194.250) PT Medcosolar Bali Timur PT Nawakara Energi Sumpur 20,00 % 20,00 % PT Nawakara Energi Sumpur
PT Medco Geothermal Sarulla 20.636.649 21.748.493 PT Medco Geothermal Sarulla PT Multidaya Prima Elektrindo 15,00 % 15,00 % PT Multidaya Prima Elektrindo
PT Muara Enim Multi Power 3.345.415 4.143.262 PT Muara Enim Multi Power PT Energi Prima Elektrika 7,50 % 7,50 % PT Energi Prima Elektrika
PT Nawakara Energi Sumpur 1.277.752 (167.469.389) PT Nawakara Energi Sumpur PT Dalle Panaran 0,99 % 0,99 % PT Dalle Panaran
PT Indo Medco Power 191 257 PT Indo Medco Power PT Medco General Power PT Medco General Power
Services 0,40 % 0,40 % Services
PT Dalle Panaran (3.979) - PT Dalle Panaran
PT Medco Geothermal Sarulla 0,04 % 0,04 % PT Medco Geothermal Sarulla
PT Energi Prima Elektrika (173.932.474) (325.419.500) PT Energi Prima Elektrika
PT Indo Medco Power 0,02 % 0,02 % PT Indo Medco Power
PT Multidaya Prima Elektrindo (752.129.173) (845.958.792) PT Multidaya Prima Elektrindo
PT Medco Energi Menamas 0,01 % 0,01 % PT Medco Energi Menamas
PT Medco Solar Bali Barat (752.761.861) (555.374.870) PT Medco Solar Bali Barat
PT Medco Geothermal PT Medco Geothermal
Total 225.948.918.959 154.543.666.083 Total Indonesia 0,01 % 0,01 % Indonesia
c. Rincian kepentingan non-pengendali atas total c. The details of the non-controlling interests in PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
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 Porsi kepentingan non-pengendali pada MRPR The portion of equity interest held by non-
Desember 2025 dan 2024 adalah sebagai are as follows: adalah sebesar 49%. controlling interest in MRPR is 49%.
berikut:
Ringkasan informasi keuangan MRPR disajikan di The summarized financial information of MRPR is
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination.
2025 2024
PT Medco Kansai Power PT Medco Kansai Power
Ringkasan laporan posisi keuangan Summarized statement of financial position
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 2025 2024
PT Medco Ratch Power Riau 43.192.640.518 111.182.982.707 PT Medco Ratch Power Riau Aset Lancar 1.020.857.220.919 935.220.881.837 Current Assets
PT Universal Batam Energy 24.880.411.646 32.575.062.962 PT Universal Batam Energy Aset Tidak Lancar 4.971.321.557.698 4.977.905.922.013 Non-current Assets
PT Medco General Power PT Medco General Power Liabilitas Jangka Pendek 394.750.871.074 358.798.102.990 Current Liabilities
Services 13.301.017.443 4.089.203.798 Services Liabilitas Jangka Panjang 3.342.030.541.889 3.371.591.498.689 Non-current Liabilities
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
119 120
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2025 Management Business Company Corporate Sustainability
268 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 269
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued) 30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”) PT Medco Kansai Power Indonesia (“MKPI”) PT Medco Kansai Power Indonesia (“MKPI”)
(lanjutan) (continued)
Porsi kepentingan non-pengendali pada MKPI The portion of equity interest held by non-
Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other adalah sebesar 40%. controlling interest in MKPI is 40%.
komprehensif lain: comprehensive income:
Ringkasan informasi keuangan MKPI disajikan di The summarized financial information of MKPI is
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination.
2025 2024
Pendapatan 527.591.581.425 507.846.700.715 Revenues Ringkasan laporan posisi keuangan Summarized statement of financial position
Beban pokok pendapatan (100.111.234.070) (85.710.635.676) Cost of revenues
2025 2024
Laba kotor 427.480.347.355 422.136.065.039 Gross profit
Aset Lancar 2.109.863.717.209 1.976.240.514.305 Current Assets
Beban operasi (133.069.477.006) (92.042.501.821) Operating expenses
Aset Tidak Lancar 3.176.152.459.437 2.404.149.034.013 Non-current Assets
Beban pendanaan (218.534.714.503) (216.585.165.728) Finance costs
Liabilitas Jangka Pendek 807.602.534.972 624.418.576.806 Current Liabilities
Lain-lain 2.687.760.331 8.698.520.830 Others
Liabilitas Jangka Panjang 1.547.077.835.335 997.711.446.042 Non-current Liabilities
LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
PENGHASILAN 78.563.916.177 122.206.918.320 EXPENSE Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
Beban pajak penghasilan (18.115.741.626) (24.565.367.296) Income tax expense komprehensif lain: comprehensive income:
LABA TAHUN BERJALAN 60.448.174.551 97.641.551.024 PROFIT FOR THE YEAR
2025 2024
Penghasilan komprehensif lain 12.211.988.931 84.750.992.528 Other comprehensive Income
Pendapatan 1.614.569.691.651 1.224.588.488.310 Revenues
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE Beban pokok pendapatan (1.033.145.639.973) (789.627.049.143) Cost of revenues
BERJALAN 72.660.163.482 182.392.543.552 INCOME FOR THE YEAR
Laba kotor 581.424.051.678 434.961.439.167 Gross profit
Laba tahun berjalan yang Beban operasi (323.383.437.071) (295.490.803.436) Operating expenses
diatribusikan kepada: Profit for the year attributable to:
Beban pendanaan (45.708.577.966) (40.789.272.824) Finance costs
Kepentingan non-pengendali 29.619.605.126 47.844.360.002 Non-controlling interests
Lain-lain 161.551.999.451 102.861.427.069 Others
Laba komprehensif tahun berjalan Total comprehensive income for
yang diatribusikan kepada: the year attributable to: LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
Kepentingan non-pengendali 35.603.480.106 89.372.346.340 Non-controlling interests PENGHASILAN 373.884.036.092 201.542.789.976 EXPENSE
Beban pajak penghasilan (73.308.831.182) (31.587.523.481) Income tax expense
Ringkasan laporan arus kas Summarized statement of cash flows LABA TAHUN BERJALAN 300.575.204.910 169.955.266.495 PROFIT FOR THE YEAR
2025 2024 Penghasilan komprehensif lain 56.908.962.016 31.453.097.440 Other comprehensive Income
Arus kas diperoleh dari aktivitas Cash flows provided by operating JUMLAH PENGHASILAN
operasi 568.861.899.482 234.410.216.317 activities KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 357.484.166.926 201.408.363.935 INCOME FOR THE YEAR
Arus kas diperoleh dari (digunakan Cash flows provided by (used in)
untuk) aktivitas investasi (23.206.406.661) 9.435.266.401 investing activities Laba tahun berjalan yang
Arus kas digunakan untuk aktivitas Cash flows used in financing diatribusikan kepada: Profit for the year attributable to:
pendanaan (310.434.267.051) (478.439.248.815) activities Kepentingan non-pengendali 51.618.976.791 39.271.419.582 Non-controlling interests
Kenaikan (penurunan) neto kas Net increase (decrease) in cash Laba komprehensif tahun berjalan Total comprehensive income for
dan setara kas 235.221.225.770 (234.593.766.097) and cash equivalents yang diatribusikan kepada: the year attributable to:
Perbedaan nilai tukar neto (1.453.413.791) 6.057.691.391 Net foreign exchange differences Kepentingan non-pengendali 65.166.156.295 39.271.419.582 Non-controlling interests
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
121 122
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2025 Management Business Company Corporate Sustainability
270 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 271
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued) 30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Kansai Power Indonesia (“MKPI”) PT Medco Kansai Power Indonesia (“MKPI”) PT Medco Cahaya Geothermal (“MCG”) PT Medco Cahaya Geothermal (“MCG”)
(lanjutan) (continued) (lanjutan) (continued)
Ringkasan laporan arus kas Summarized statement of cash flows Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
komprehensif lain: comprehensive income:
2025 2024
Arus kas diperoleh dari aktivitas Cash flows provided by operating 2025 2024
operasi 110.134.100.403 453.927.821.020 activities
Pendapatan 492.755.157.680 1.307.143.866.887 Revenues
Arus kas digunakan untuk aktivitas Cash flows used in investing
investasi (136.382.450.575) (195.885.462.796) activities Beban pokok pendapatan (195.936.365.419) (1.039.541.489.452) Cost of revenues
Arus kas diperoleh dari (digunakan Cash flows provided by (used in) Laba kotor 296.818.792.261 267.602.377.435 Gross profit
untuk) aktivitas pendanaan 72.658.857.382 (169.972.597.611) financing activities
Beban operasi (61.546.375.975) (30.921.240.061) Operating expenses
Net increase in cash and cash Beban pendanaan (120.091.003.490) (133.915.504.010) Finance costs
Kenaikan neto kas dan setara kas equivalents from continuing
dari operasi yang dilanjutkan 46.410.507.210 88.069.760.613 operations Lain-lain 7.005.155.502 19.207.354.078 Others
Net increase in cash and cash LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
Kenaikan neto kas dan setara kas 46.410.507.210 88.069.760.613 equivalents PENGHASILAN 122.186.568.298 121.972.987.442 EXPENSE
Perbedaan nilai tukar neto 33.061.598.990 3.213.631.133 Net foreign exchange differences Beban pajak penghasilan (30.453.769.946) (30.848.131.987) Income tax expense
Cash and cash equivalents at LABA TAHUN BERJALAN 91.732.798.352 91.124.855.455 PROFIT FOR THE YEAR
Kas dan setara kas awal tahun 1.312.093.452.242 1.220.810.060.496 beginning of year
Penghasilan komprehensif lain 41.016.399.247 44.881.245.766 Other comprehensive Income
Cash and cash equivalents at
Kas dan setara kas akhir tahun 1.391.565.558.442 1.312.093.452.242 end of year JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 132.749.197.599 136.006.101.221 INCOME FOR THE YEAR
PT Medco Cahaya Geothermal (“MCG”) PT Medco Cahaya Geothermal (“MCG”) Laba tahun berjalan yang
diatribusikan kepada: Profit for the year attributable to:
Porsi kepentingan non-pengendali pada MCG The portion of equity interest held by non- Kepentingan non-pengendali 44.949.070.037 44.651.179.967 Non-controlling interests
adalah sebesar 49%. controlling interest in MCG is 49%.
Laba komprehensif tahun berjalan Total comprehensive income for
Ringkasan informasi keuangan MCG disajikan di The summarized financial information of MCG is yang diatribusikan kepada: the year attributable to:
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination. Kepentingan non-pengendali 65.047.106.824 66.642.989.598 Non-controlling interests
Ringkasan laporan posisi keuangan Summarized statement of financial position Ringkasan laporan arus kas Summarized statement of cash flows
2025 2024 2025 2024
Aset Lancar 329.047.620.080 163.191.901.089 Current Assets
Arus kas diperoleh dari (digunakan Cash flows provided by (used in)
Aset Tidak Lancar 4.328.353.012.885 4.027.677.940.493 Non-current Assets untuk) aktivitas operasi 193.451.341.810 (78.253.279.697) operating activities
Liabilitas Jangka Pendek 929.560.008.055 1.427.027.830.177 Current Liabilities Arus kas digunakan untuk aktivitas Cash flows used in investing
Liabilitas Jangka Panjang 2.565.833.692.353 1.734.584.276.449 Non-current Liabilities 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.
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The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
31. EKUITAS 31. EQUITY 32. PENDAPATAN USAHA 32. REVENUES
Modal Saham Capital Stock Rincian pendapatan usaha adalah sebagai berikut: The details of revenues are as follows:
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the 2025 2024
komposisi pemegang saham dan kepemilikannya shareholders and their respective share ownership
adalah sebagai berikut: are as follows: Pendapatan penjualan listrik 1.215.194.276.897 745.542.298.976 Sales of electric power
Operation and maintenance
Persentase Modal ditempatkan Jasa operasi dan pemeliharaan 636.214.909.003 461.939.857.494 services
kepemilikan/ dan disetor penuh/ Pendapatan keuangan dari konsesi Finance income from service
Total Saham/ Percentage of Subscribed and fully jasa (Catatan 13) 618.503.186.368 599.131.107.411 concession (Note 13)
Pemegang Saham Number of shares ownership (%) paid Capital Shareholders
Pendapatan konstruksi (Catatan
PT Medco Power PT Medco Power 13) 276.415.069.030 1.277.391.832.748 Construction revenue (Note 13)
561.000.000 51 % 561.000.000.000
Internasional Internasional Pendapatan dari sewa pembangkit Income from lease of electric
listrik 185.658.075.600 187.296.679.995 power plant
PT Medco Energi 539.000.000 49 % 539.000.000.000 PT Medco Energi
Internasional Tbk Internasional Tbk Total 2.931.985.516.898 3.271.301.776.624 Total
Total 1.100.000.000 100 % 1.100.000.000.000 Total
Rincian pendapatan dari pelanggan yang melebihi The details of revenues from customers which
Tambahan modal disetor Additional paid-in capital 10% dari total pendapatan usaha berasal dari: exceeded 10% of the total revenues, are as follows:
Akun ini merupakan selisih lebih kas yang diterima This account represents the excess of cash 2025 2024
dari penerbitan saham dengan total nilai nominal received from the issuance of shares of stock over Pendapatan/ Pendapatan/
saham yang diterbitkan dan selisih transaksi the total nominal value of the shares issued and Revenues % Revenues %
dengan entitas sepengendali difference in transaction with entity under common
control 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
Cadangan umum General reserve PT PLN Pembangkitan PT PLN Pembangkitan
Tanjung Jati B 334.939.184.260 11 288.695.694.445 9 Tanjung Jati B
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 Total 2.592.513.192.675 88 2.963.638.494.049 91 Total
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 33. BEBAN POKOK PENDAPATAN 33. COST OF REVENUES
sebesar Rp220.000.000.000. Rp220,000,000,000.
Rincian beban pokok pendapatan adalah sebagai The details of cost of revenues are as follows:
Selisih transaksi dengan pihak non-pengendali Difference in transactions with non-controlling berikut:
interest
2025 2024
2025 2024 Beban pembelian gas 663.909.492.502 429.035.697.184 Cost of gas
Penjualan 49% kepemilikan di Divestment of 49% ownership in Beban konstruksi 265.498.175.692 1.202.076.565.697 Construction costs
MGeoPS 277.174.053.683 277.174.053.683 MGeoPS Gaji dan tunjangan pegawai 139.078.453.648 115.318.541.861 Salaries and employee benefits
Penambahan 48,9% kepemilikan di Beban pemeliharaan 109.924.605.991 101.982.019.295 Maintenance costs
MGPS, 7,5% kepemilikan di Additional 48.9% ownership in
EPE dan 22,32% kepemilikan di MGPS, 7.5% ownership in EPE Management and technical
DEB (168.805.220.412) (168.805.220.412) and 22.32% ownership in DEB Manajemen dan dukungan teknis 103.854.567.948 81.382.502.817 support
Penjualan 49% kepemilikan di Divestment of 49% ownership in Penyusutan (Catatan 18) 97.300.410.509 93.219.319.628 Depreciation (Note 18)
MCG 13.550.910.922 13.550.910.922 MCG Barang habis pakai (Catatan 9) 61.316.008.340 53.948.042.894 Consumables (Note 9)
Transaksi divestasi dengan KEPTI 721.128.317.691 721.128.317.691 Divestment transaction with KEPTI Sewa peralatan 1.576.379.500 544.675.000 Rental of equipment
Lain-lain 2.968.997.527 2.968.997.527 Others
Total 1.442.458.094.130 2.077.507.364.376 Total
Total 846.017.059.411 846.017.059.411 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
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The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
34. BEBAN OPERASIONAL 34. OPERATING EXPENSES 36. BEBAN LAIN-LAIN 36. OTHER EXPENSES
Rincian akun ini terdiri dari: This account consists: Rincian beban lain-lain adalah: The details of other expenses are as follows:
2025 2024 2025 2024
Gaji dan tunjangan karyawan 290.190.916.905 310.119.504.625 Salaries and employee benefits Kerugian piutang sewa
pembiayaan yang tidak tertagih Loss for uncollected finance lease
Asuransi 78.171.035.855 53.032.042.171 Insurance (Catatan 11) 18.119.066.947 132.929.790.599 receivables (Note 11)
Denda kontrak 48.705.556.021 28.198.257.131 Contract penalties Kekurangan bayar biaya gas masa
Penyusutan (Catatan 14 dan 18) 45.430.996.912 41.964.148.830 Depreciation (Notes 14 and 18) lalu 1.363.938.199 9.558.836.889 Underpayment of past gas cost
Beban kantor dan pembangkit Loss on disposal of property, plant
listrik 42.063.655.265 26.764.191.128 Office and power plant expenses Kerugian penghapusan aset tetap - 12.391.325.981 and equipment
Jasa profesional 39.632.237.666 32.903.751.155 Professional fees Kerugian penurunan nilai goodwill Loss on impairment goodwill
Keamanan 34.569.106.359 20.895.012.845 Security (Catatan 17) - 7.300.000.000 (Note 17)
Biaya perizinan 28.770.978.801 7.663.847.743 Admission fee Kerugian penurunan nilai perizinan Loss on impairment licenses
(Catatan 17) - 7.133.047.720 (Note 17)
Sewa 19.594.793.387 17.303.753.170 Rental
Lain-lain 5.448.121.427 2.596.648.918 Others
Perjalanan 12.694.622.275 18.314.242.794 Traveling
Total 24.931.126.573 171.909.650.107 Total
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 37. BEBAN PENDANAAN 37. FINANCE COSTS
Transportasi 5.428.222.872 7.530.777.713 Transportation
Rincian beban pendanaan adalah: The details of finance costs are as follows:
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) 2025 2024
Sumbangan dan iuran 3.516.804.782 2.564.596.655 Donations and contributions Beban bunga pinjaman 295.796.550.059 329.313.259.453 Loan interest expense
Jasa manajemen 3.113.604.058 3.138.826.723 Management fee Beban bunga obligasi dan sukuk Bonds and sukuk wakalah interest
wakalah 292.742.123.589 195.292.837.291 expense
Lain-lain 153.486.084 13.699.515.492 Others
Biaya bank garansi 192.010.045.265 155.165.655.102 Bank guarantee fees
Total 683.505.878.335 610.163.647.504 Total
Beban pendanaan lainnya 11.833.363.110 7.083.694.701 Other financing costs
Total 792.382.082.023 686.855.446.547 Total
35. PENDAPATAN LAIN-LAIN 35. OTHER INCOME
Rincian pendapatan lain-lain adalah: The details of other income are as follows:
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN AND COMMITMENTS
2025 2024
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
Keuntungan selisih kurs - neto 116.864.342.276 83.776.900.303 Gain on foreign exchange - net sebagai berikut: agreements as follows:
Keuntungan atas modifikasi Gain on modification of finance i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
piutang sewa pembiayaan 86.060.247.410 - lease receivables
Pengalihan
Gain on sales of property, plant
Keuntungan penjualan aset tetap 2.503.583.911 151.754.970 and equipment
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Penjualan dari sertifikasi energi Sales from renewable energy Date of Agreement Commitment Contract Period
terbarukan 1.894.059.727 345.203.985 certificates
PT Bio Jatropha Indonesia
Pengembalian atas klaim asuransi 324.154.357 37.181.212.260 Insurance claims reimbursements
PT PLN (Persero) 1 Februari 2012; BJI mengoperasikan pembangkit listrik tenaga 15 tahun setelah Tanggal
Lain-lain (masing-masing di bawah Others (each below Unit Induk Distribusi terakhir diubah pada mini-hidro 3x3 MW pada aliran Sungai Operasi Komersial ("COD")
Rp500.000.000) 3.452.654.894 2.348.712.691 Rp500,000,000) 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)
Total 211.099.042.575 123.803.784.209 Total 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.
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The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS 38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued) SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued) sebagai berikut: (lanjutan) agreements as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued) Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/ Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period Date of Agreement Commitment Contract Period
PT Dalle Energy Batam PT Energi Prima Elektrika
PT PLN Batam 20 Mei 2005; DEB diharuskan untuk mendanai, Amendemen ini mengatur PT Prima Layanan 10 November 2004; Semua hak dan kewajiban PT PLN-E 20 tahun dengan
terakhir diubah pada membangun dan mengoperasikan 2 unit Gas mengenai perpanjangan Nasional Enjiniring terakhir diubah pada berdasarkan Perjanjian Pembelian Tenaga perpanjangan tahunan atas
tanggal 25 Maret Turbin Generator dengan chiller ("SCPP") perjanjian jual beli tenaga ("PT PLN-E") dan PT tanggal 3 September Listrik yang ditandatangani antara PT PLN- persetujuan kedua belah
2025/May 20, 2005; serta Steam Turbine Generator ("CCPP"). PT listrik sampai dengan 31 PLN (Persero) Unit 2024/November 10, E dan PT PLN UIWS2JB dialihkan ke EPE. pihak (sampai dengan Juni
last amendment PLN Batam setuju untuk membayar listrik Maret 2030. Induk Wilayah 2004; last EPE diharuskan mendanai, membangun 2026)
dated March 25, kepada Perusahaan sesuai harga yang Sumatera Selatan, amendment dated dan mengoperasikan proyek Generator
2025 disepakati Para Pihak Jambi dan Bengkulu September 3, 2024 Mesin Gas (“GMG”). PT PLN UIWS2JB 20 years subject to annual
This amendement regulates (“PT PLN setuju untuk membayar listrik kepada extension upon approval by
DEB is required to fund, operate and maintain on the extension of power UIWS2JB”) Perusahaan sesuai harga yang disepakati both parties (until June
2 units of Gas Turbine Generator with chiller purchase agreement which Para Pihak 2026)
("SCPP") and Steam Turbine Generator period extended up to
("CCPP"). PT PLN Batam agreed to pay the March 31, 2030. All rights and obligations of PT PLN-E
electricity to the Company at the agreed price under the Power Purchase Agreement
by the Parties. 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 Energi Listrik Batam PT PLN UIWS2JB agreed to pay the
PT PLN Batam 15 Oktober 2012; ELB mengoperasikan pembangkit listrik 2x35 20 tahun setelah Tanggal electricity to the Company at the agreed
terakhir diubah pada MW. PT PLN Batam setuju untuk membayar Operasi Komersial ("COD") price by the Parties.
tanggal 21 Juli 2023/ listrik kepada Perusahaan sesuai harga yang Unit CCPP (8 November
October 15, 2012; disepakati Para Pihak. PT PLN Batam 2025). PT Medco Cahaya Geothermal
effective as of July memiliki opsi untuk membeli kepemilikan dan PT PLN (Persero) 27 Februari 2013; MCG membangun, memiliki dan 30 tahun sejak setelah
21, 2023 kepentingan ELB dalam proyek tersebut terakhir diubah pada mengoperasikan pembangkit listrik tenaga Tanggal Operasi Komersial
selama masa Perjanjian Pembelian Tenaga 20 years after Commercial tanggal panas bumi 2x55 MW dengan kapasitas ("COD") unit operasi
Listrik. Operation Date ("COD") of 9 Desember 2022/ minimal 30 MW. PT PLN (Persero) setuju terakhir.
CCPP Unit (November 8, February 27, 2013; untuk membayar listrik kepada Perusahaan
Pada tanggal 21 Juli 2023, Para Pihak 2025). last amendment sesuai harga yang disepakati Para Pihak
menandatangani amendemen IV mengenai dated December 9, 30 years after Commercial
perubahan skema pembangkit dari Simple 2022 MCG constructs, owns and operates a 2x55 Operation Date ("COD")
Cycle Power Plant (“SCPP”) menjadi MW geothermal power plant with minimum from latest unit operation.
Combined Cycle Gas Power Plant (“CCPP”) capacity of 30 MW. PT PLN (Persero)
dengan menambah unit baru berkapasitas 39 agreed to pay the electricity to the
MW, sehingga total kapasitas menjadi 109 Company at the agreed price by the
MW. Perjanjian tersebut berlaku efektif pada Parties.
Agustus 2023.
PT Medco Ratch Power Riau
ELB operates 2x35 MW power plant. PT PLN PT PLN (Persero) 7 April 2017; terakhir MRPR mengoperasikan pembangkit listrik 20 tahun setelah Tanggal
Batam agreed to pay the electricity to the diubah pada tanggal tenaga gas berkapasitas 275 MW. PT PLN Operasi Komersial ("COD")
Company at the agreed price by the Parties. 27 Februari 2025/ (Persero) setuju untuk membayar listrik pada 10 Februari 2042
PT PLN Batam has the option to purchase April 7, 2017; last kepada Perusahaan sesuai harga yang
ELB’s ownership and interest in the project amendment dated disepakati Para Pihak 20 years after Commercial
anytime during the term of the Power February 27, 2025 Operating Date ("COD") on
Purchase Agreement. MRPR operates 275 MW gas fired power February 10, 2042.
plant. PT PLN (Persero) agreed to pay the
On July 21 2023, the Parties signed electricity to the Company at the agreed
Amendment IV regarding the changes of price by the Parties.
electricity generation scheme from Simple
Cycle Power Plant (“SCPP”) to Combined PT Medco Solar Bali Barat
Cycle Gas Power Plant (“CCPP”) by adding a PT PLN (Persero) 24 Maret 2022; MSBB telah menandatangani Perjanjian 20 tahun setelah Tanggal
new unit with a capacity of 39 MW, bringing terakhir diubah Jual Beli Tenaga Listrik ("PJBTL") dengan Operasi Komersial ("COD")
the total capacity to 109 MW. The agreement tanggal 17 PT PLN (Persero) untuk pengoperasian
is effective in August 2023. 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.
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278 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 279
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS 38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued) SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued) sebagai berikut: (lanjutan) agreements as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued) Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/ Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period Date of Agreement Commitment Contract Period
PT Medcosolar Bali Timur PT Pembangkitan Pusaka Parahiangan
PT PLN (Persero) 24 Maret 2022; MSBT telah menandatangani Perjanjian 20 tahun setelah Tanggal PT PLN (Persero) 12 September 2013; PPP mengoperasikan pembangkit listrik 15 tahun setelah Tanggal
terakhir diubah Jual Beli Tenaga Listrik ("PJBTL") dengan Operasi Komersial ("COD") Unit Induk Distribusi terakhir diubah pada tenaga mini-hydro 2x4,4 MW pada aliran Operasi Komersial ("COD")
tanggal 17 PT PLN (Persero) untuk pengoperasian pada 17 Juli 2025. Jawa Barat ("PT tanggal Sungai Cibuni, yang berlokasi di Cianjur, (sampai dengan Mei 2033)
Desember 2024/ Pembangkit Listrik Tenaga Surya PLN UIDJB") 29 Januari 2019/ Jawa Barat. PT PLN UIDJB setuju untuk
March 24, 2022; last Fotovoltaik berkapasitas 25 MWp yang 20 years after Commercial September 12, 2013; membayar listrik kepada Perusahaan 15 years after Commercial
amendment dated berlokasi di provinsi Bali bagian Timur. PT Operating Date ("COD") on last amendment sesuai harga yang disepakati Para Pihak Operating Date ("COD")
December 17, 2024 PLN (Persero) setuju untuk membayar July 17, 2025. dated January 29, (until May 2033).
listrik kepada Perusahaan sesuai harga 2019 PPP operates a 2x4.4 MW mini-hydro
yang disepakati Para Pihak power plant on the flow of Cibuni River,
located in Cianjur, West Java. PT PLN
MSBT has entered into a Power Purchase UIDJB agreed to pay the electricity to the
Agreement ("PPA") with PT PLN (Persero) Company at the agreed price by the
for the operation of Solar Photovoltaic Parties.
Power Plant facility with an installed
capacity 25 MWp located at Eastern Bali.
PT PLN (Persero) agreed to pay the ii. Perjanjian Operasi dan Pemeliharaan ii. Operation and Maintenance Agreements
electricity to the Company at the agreed
price by the Parties.
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
PT Mitra Energi Batam Perusahaan/Entity Date of Agreement Commitment Contract Period
PT PLN Batam 29 April 2004; MEB diharuskan untuk mendanai, 20 tahun dari 8 September PT Medco Geothermal Sarulla
terakhir diubah pada mengoperasikan dan memelihara proyek 2 2014 (sampai dengan 7
tanggal 27 Juli 2018/ unit Gas Turbin Generator dengan chiller September 2034) Sarulla Operation Kontrak pertama 29 Perjanjian operasi dan pemeliharaan Perpanjangan 6 tahun sejak
April 29, 2004; last ("SCPP") serta Steam Turbine Generator Ltd ("SOL") September 2016; dengan SOL untuk Pembangkit Listrik 4 Juli 2024
amendment dated ("CCPP"). PT PLN Batam setuju untuk 20 years from September 8, terakhir diubah Tenaga Panas Bumi Sarulla
July 27, 2018 membayar listrik kepada Perusahaan 2014 (until September 7, tanggal 3 November 6 years extensions from
sesuai harga yang disepakati Para Pihak 2034). 2024/First contract Operation and Maintenance agreement with July 4, 2024
on September 29, SOL for Sarulla Geothermal Power
MEB is required to fund, operate and 2016; last Facilities.
maintain 2 units of Gas Turbine Generator amendment dated
with chiller ("SCPP") and Ssteam Turbine November 3, 2024
Generator ("CCPP"). PT PLN Batam
agreed to pay the electricity to the
Company at the agreed price by the PT Medco Power Indonesia
Parties.
PT PLN (Persero) 9 September 2019; Konsorsium 5oC yang terdiri dari MPI dan 5 tahun sejak tanggal
PT Multidaya Prima Elektrindo dan Konsorsium 5oC terakhir diubah pada lainnya telah menandatangani kontrak EPC operasi komersial (COD)
PT Prima Layanan 1 Juni 2004; terakhir Semua hak dan kewajiban PT PLN-E 20 tahun dengan ("IKPT-PP"- tanggal 2 Desember dan O&M dengan PT PLN (Persero) untuk (Maret 2025)
Nasional Enjiniring diubah tanggal 3 berdasarkan Perjanjian Pembelian Tenaga perpanjangan tahunan atas Sumitomo-Itochu- 2024/September 9, PLTU Sulut-1.
("PT PLN-E") dan PT September 2024/ Listrik yang ditandatangani antara PT PLN- persetujuan kedua belah MPI) 2019; last amended 5 years from Commercial
PLN (Persero) Unit June 1, 2004; last E dan PT PLN UIWS2JB dialihkan ke MPE. pihak (sampai dengan Mei dated December 2, The 5oC Consortium consist of MPI and Operating Date (COD)
Induk Wilayah amendment dated MPE diminta untuk mendanai, membangun 2028) 2024 others has signed an EPC and O&M (March 2025)
Sumatera Selatan, September 3, 2024 dan mengoperasikan proyek Generator Contract with PT PLN (Persero) for PLTU
Jambi dan Bengkulu Mesin Gas (“GMG”) dengan kapasitas 12 20 years subject to annual Sulut-1.
(“PT PLN MW. PT PLN UIWS2JB setuju untuk extension upon approval by PT PLN (Persero) 9 September 2019; Konsorsium 5oC yang terdiri dari MPI dan 5 tahun sejak tanggal
UIWS2JB”) membayar listrik kepada Perusahaan both parties (until May 2028) dan Konsorsium 5oC terkahir diubah pada lainnya telah menandatangani kontrak EPC operasi komersial (COD)
sesuai harga yang disepakati Para Pihak ("IKPT-PP"- tanggal 12 Juli 2024/ dan O&M dengan PT PLN (Persero) untuk (September 2024)
Sumitomo-Itochu- September 9, 2019; PLTU Timor-1.
All rights and obligations of PT PLN-E MPI) last amended dated 5 years from Commercial
under the Power Purchase Agreement July 12, 2024 The 5oC Consortium consist of MPI and Operating Date (COD)
entered into between PT PLN-E and PT others has signed an EPC and O&M (September 2024)
PLN UIWS2JB were transferred to MPE. Contract with PT PLN (Persero) for PLTU
MPE is required to fund, establish and Timor-1.
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.
131 132
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2025 Management Business Company Corporate Sustainability
280 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 281
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS 38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued) SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued) sebagai berikut: (lanjutan) agreements as follows: (continued)
ii. Perjanjian Operasi dan Pemeliharaan ii. Operation and Maintenance Agreements
(lanjutan) (continued) iii. Perjanjian Jual Beli Gas iii. Gas Sale and Purchase Agreements
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period Perusahaan/Entity Date of Agreement Commitment Contract Period
PT TJB Power Services PT Universal Batam Energy
PT PLN (Persero) 9 Juni 2005; terakhir Konsorsium dari PT Medco Energi 24 tahun Premier Oil, Natuna 15 April 2008/ Premier Oil, Natuna 1, Natuna 2 dan 20 tahun
diubah pada tanggal Internasional Tbk-Fortum Service Oy 1 BV (“Natuna 1”), April 15, 2008 Natuna setuju untuk menjual dan UBE
28 Maret 2018/June (Medco Fortum) menandatangani Operation 24 years. Natuna 2 B.V. setuju untuk membeli gas sebesar 20 BBTU 20 years.
9, 2005; last & Maintenance Agreement (O&M (“Natuna 2”), dari cadangan yang dilakukan
amendment dated Agreement) dengan PLN. Medco Fortum KUFPEC Indonesia dan dari sumber lain milik penjual gas
March 28, 2018 ditunjuk sebagai operator pembangkit listrik ("Natuna") B.V.
tenaga batu bara berkapasitas 2x660 MW. Premier Oil, Natuna 1, Natuna 2, and
Pada tanggal 27 September 2005, Medco Natuna agreed to sell and UBE agreed to
Fortum, MPI dan PLN menandatangani purchase gas 20 BBTU from committed
amendemen Perjanjian No. 1 untuk O&M reserves and from other sources of gas
Agreement dimana para pihak sepakat sellers.
untuk memasukkan MPI sebagai salah satu
pihak dalam O&M Agreement dan sebagai PT Energi Prima Elektrika
operator awal proyek sampai perusahaan PT Pertamina EP 30 Mei 2006; PT Pertamina EP setuju untuk 10 tahun, kontrak
yang bertujuan khusus (“SPC”) untuk terakhir diubah pada menyediakan dan mengirimkan gas ke diperpanjang hingga 31
mengoperasikan pembangkit listrik tenaga tanggal 18 pembangkit listrik EPE untuk 2 MMSCF per Desember 2023
tersebut didirikan. Pada tahun 2006, TJBPS Desember 2024/May hari dengan pembelian minimum tahunan
didirikan sebagai SPC 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
The Consortium of PT Medco Energi December 18, 2024. gas sementara dan melaksanakan 31, 2023
Internasional Tbk-Fortum Service Oy keputusan pemerintah terkait harga gas
(Medco Fortum) signed an Operation & Saat ini sedang proses
Maintenance Agreement (O&M Agreement) PT Pertamina EP agreed to provide and perpanjangan kontrak
with PLN. Medco Fortum is appointed as deliver gas to EPE’s power plant for 2 hingga berakhir masa
the operator of the 2x660 MW coal fired MMSCF and minimum annual gas usage of berlaku PPA/
power station. On September 27, 2005, 80%. On December 18, 2024, the parties Currently in the process of
Medco Fortum, MPI and PLN entered into agreed to revise the temporary gas price extending the contract until
an Agreement Amendment No. 1 for O&M and implement the government decision on the end of PPA terms.
Agreement where the parties agreed to gas prices.
include MPI as one of the parties to the
O&M Agreement and the initial operator of PT Multidaya Prima Elektrindo
the project until the special purpose
company (“SPC”) to operate the coal fired PT Pertamina EP 30 Mei 2008; PT Pertamina EP setuju untuk memberikan 10 tahun, kontrak
power station is established. In 2006, terakhir diubah pada dan mengirimkan gas ke pembangkit listrik diperpanjang hingga 31
TJBPS was established as the SPC. 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.
133 134
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2025 Management Business Company Corporate Sustainability
282 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 283
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS 38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued) SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued) sebagai berikut: (lanjutan) agreements as follows: (continued)
iii. Perjanjian Jual Beli Gas (lanjutan) iii. Gas Sale and Purchase Agreements iv. Perjanjian Jasa Kontrak (lanjutan) iv. Contractual Service Agreements (continued)
(continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/ PT TJB Power Services
Perusahaan/Entity Date of Agreement Commitment Contract Period
Konsorsium Fortum 10 Juni 2005; Penyedia MTS harus menyediakan jasa 5 tahun sejak amendemen
PT Energi Listrik Batam Service Oy dan terakhir diubah manajemen dan dukungan teknis untuk perjanjian tanggal 9 Agustus
PT PGN (Persero) 28 Agustus 2020; PT PGN (Persero) Tbk setuju untuk Sampai dengan 31 Enprima Oy, tanggal 9 Agustus Proyek Tanjung Jati B dengan total biaya 2021, kontrak diperpanjang
Tbk terakhir diubah pada memberikan dan mengirimkan gas ke Desember 2028 konsorsium yang 2021/ mobilisasi sebesar AS$7.602.288 dan biaya hingga 10 Agustus 2026
tanggal 20 pembangkit listrik ELB sebanyak 3.00-3.60 didirikan June 10, 2005; last operasi sebesar AS$23.653.500 (biaya dasar)
Desember 2024/ BBTU untuk periode sejak tanggal dimulai Up to December 31, 2028 berdasarkan hukum amendment dated ditambah penyesuaian yang tercantum dalam 5 years since agreement
August 28, 2020; sampai dengan 30 November 2022, Finlandia ("Penyedia August 9, 2021 kontrak dan 25% biaya insentif tahunan yang amendment dated August 9,
last amended dated sebanyak 10.00-12.00 BBTU untuk periode MTS"), Medco- disetujui oleh PT PLN (Persero). Pada tanggal 2021, contract was
December 20, 2024 sejak 1 Desember 2022 sampai dengan Fortum (“Operator”), 9 Agustus 2021, PT TJB Power Services dan extended up to August 10,
beroperasinya Add-On CCPP, dan sebuah konsorsium Penyedia MTS mengadakan amendemen atas 2026.
sebanyak 15.53-18.64 BBTU dari tanggal yang didirikan perjanjian MTS dimana kedua pihak setuju
beroperasinya Add-On CCPP sampai berdasarkan hukum untuk memperpanjang perjanjian untuk lima
tanggal berakhirnya Perjanjian Indonesia./ tahun ke depan mulai 11 Agustus 2021 hingga
The Consortium of 10 Agustus 2026. Berdasarkan amendemen
PT PGN (Persero) Tbk agreed to provide Fortum Service Oy perjanjian, Penyedia MTS akan tetap
and deliver gas to the ELB’s power plant in and Enprima Oy, a menyediakan jasa manajemen dan dukungan
the amount of 3.00-3.60 BBTU for the consortium teknis untuk Perusahaan dengan total biaya
period from the start date until November established under operasional minimum AS$7.440.000 (biaya
30, 2022, in the amount 10.00-12.00 BBTU laws of Finland dasar) ditambah penyesuaian yang tercantum
for the period from 1 December 2022 until (“MTS Providers”), dalam kontrak dan 20% dari biaya insentif
the operation of Add-On CCPP, and in the Medco-Fortum tahunan yang disetujui oleh PLN.
amount of 15.53-18.64 BBTU from the (“Operator”), the
operation of Add-On CCPP until the end consortium MTS providers shall provide management and
date of Agreement. 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).
iv. Perjanjian Jasa Kontrak iv. Contractual Service Agreements On August 9, 2021, PT TJB Power Services
and MTS Provider entered into an amendment
of MTS agreement whereby both parties
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/ agreed to extend the agreement for the next
Perusahaan/Entity Date of Agreement Commitment Contract Period five years starting August 11, 2021 until
PT Energi Listrik Batam August 10, 2026. Under the amended
agreement, MTS Provider will continue to
PT General Electric 28 Desember 2012/ Perjanjian Jasa Kontrak dengan GEOI 20 tahun sejak tanggal provide management and technical support
Operations December 28, 2012 dimana GEOI setuju untuk menyediakan mulai pemeliharaan services to the Company for a total minimum
Indonesia (“GEOI”) layanan pemeliharaan rutin jangka panjang operating fee of US$7,440,000 (base fee) plus
untuk mendukung Proyek GTG. adjustment stated in the contract and 20% of
20 years from the annual incentive fee approved by PLN.
maintenance start date.
Contractual Service Agreement with GEOI
whereby GEOI agreed to provide long-term v. Perjanjian Operasi Bersama Proyek Sarulla v. Joint Operation Contract of Sarulla Projects
routine maintenance services to support the Geothermal
GTG Project.
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.
135 136
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2025 Management Business Company Corporate Sustainability
284 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 285
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS 38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued) SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (continued) sebagai berikut: (lanjutan) agreements as follows: (continued)
vi. Perjanjian Teknis, Pengadaan, dan Konstruksi vi. Engineering, Procurement, and Construction vi. Perjanjian Teknis, Pengadaan, dan Konstruksi vi. Engineering, Procurement, and Construction
Contract (lanjutan) Contract (continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/ Perusahaan/Entity Date of Agreement Commitment Contract Period
Perusahaan/Entity Date of Agreement Commitment Contract Period PT Medco Cahaya Geothermal
PT Energi Listrik Batam Ormat 11 Januari 2023/ Ormat International Inc, sepakat untuk Tidak disebutkan secara
PT Inti Karya 21 Juli 2023; efektif Pada tanggal 21 Juli 2023, ELB Tidak disebutkan secara International ,Inc January 11, 2023 melakukan jasa Kontrak Offshore spesifik.
Persada Tehnik per 3 Agustus 2023/ menandatangani Engineering, Procurement spesifik Equipment Supply untuk MCG dengan
Batam ("IKPT July 21, 2023; and Construction Contract dengan IKPT harga kontrak sebesar AS$32,1juta. Not specifically mentioned.
Batam") effective as of Batam untuk pelaksanaan pekerjaan Not specifically mentioned
August 3, 2023 rekayasa, pengadaan dan konstruksi Steam Ormat International Inc agreed to provide
Turbine Generator berkapasitas 39 MW di Offshore Equipment Supply Contract with
PLTG Tanjung Uncang Batam milik ELB. contract price of US$32.1million.
Perjanjian tersebut berlaku efektif sejak
tanggal 3 Agustus 2023. 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.
On July 21, 2023, ELB signed an Teknik (IKPT) - PT dengan harga kontrak sebesar AS$2,2 juta
Engineering, Procurement and Construction Multifabrindo + Rp597,44miliar. Not specifically mentioned.
Contract with IKPT Batam regarding the Gemilang (MFG)
engineering, procurement and construction Consortium IKPT - Multifab agreed to
of Steam Turbine Generator with capacity provide EPC Onshore Contract, with
39MW in PLTG Tanjung Uncang owned by contract price of US$2,2million +
ELB. The agreement has been effective as Rp597.44billion.
of August 3, 2023.
PT Medcosolar Bali Timur vii. Kontrak Pengeboran Panas Bumi vii. Geothermal Drilling Contract
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 Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
engineering, procurement and construction Perusahaan/Entity Date of Agreement Commitment Contract Period
activities untuk Bali Solar PV 25MWp. Not specifically mentioned PT Medco Cahaya Geothermal
PT Exspan Petrogas 11 Januari 2023/ EPI setuju untuk menyediakan jasa Drilling Tidak disebutkan secara
PT Tritama Mitra Lestari agreed to provide Intranusa (“EPI”) January 11, 2023 Rig pada pengeboran Proyek Ijen dengan spesifik namun dengan
initial work on engineering services, harga kontrak AS$18,48 juta. target penyelesaian Mei
procurement and constructions activities for 2024.
Bali Solar PV 25 MWp. EPI agreed to provide Drilling rig services
on drilling for the Ijen Project for a contract Not specifically mentioned
PT Siemens Energy 29 November 2023/ PT Siemens Energy Indonesia sepakat Tidak disebutkan secara price of USD18.48 million. with the target finalization in
Indonesia November 29, 2023 untuk menyediakan pekerjaan awal atas spesifik May 2024.
jasa engineering, procurement and
construction activities untuk Bali Solar PV Not specifically mentioned PT Halliburton 17 Januari 2023 / Halliburton sepakat untuk menyediakan Tidak disebutkan secara
25MWp. Logging Services January 17, 2023 jasa operasi pengeboran, perekayasaan spesifik.
Indonesia dan pendukungnya dengan nilai kontrak
PT Siemens Energy Indonesia agreed to (“Halliburton”) sebesar AS$10,7juta Not specifically mentioned.
provide initial work on engineering services,
procurement and constructions activities for Halliburton agreed to provide drilling
Bali Solar PV 25 MWp. operations, engineering and support
PT Graha Usaha 29 November 2023/ PT Graha Usaha Teknik sepakat untuk Tidak disebutkan secara services for a contract value of
Teknik November 29, 2023 menyediakan pekerjaan awal atas jasa spesifik US$10.7million.
engineering, procurement and construction PT Scientific Drilling 17 Januari 2023 / SDII sepakat untuk menyediakan jasa Tidak disebutkan secara
activities untuk Bali Solar PV 25MWp. Not specifically mentioned International January 17, 2023 operasi pengeboran, perekayasaan dan spesifik.
Indonesia (“SDII”) pendukungnya dengan nilai kontrak
PT Graha Usaha Teknik agreed to provide sebesar AS$9,7juta Not specifically mentioned.
initial work on engineering services,
procurement and constructions activities for SDII agreed to provide drilling operations,
Bali Solar PV 25 MWp.PT Graha Usaha engineering and support services for a
Teknik agreed to provide initial work on contract value of US$9.7million.
engineering services, procurement and
constructions activities for Bali Solar PV 25
MWp.
137 138
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2025 Management Business Company Corporate Sustainability
286 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 287
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS 39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued) RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreements as follows: (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
viii. Lain-lain viii. Others 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
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/ semua variabel lain konstan, laba constant, profit before income tax expense for
Perusahaan/Entity Date of Agreement Commitment Contract Period konsolidasian sebelum pajak penghasilan 2025 and 2024 would have been
PT Medco Power Indonesia untuk tahun 2025 dan 2024 masing-masing Rp50,744,233,318 and Rp20,772,085,239,
Mitsui Energy 29 Juni 2023/ MPI setuju untuk membentuk suatu Perjanjian Konsorsium ini akan menjadi Rp50.744.233.318 dan respectively, lower/higher, mainly as a result of
Development Co., June 29, 2023 konsorsium untuk melaksanakan bersama akan berlaku sejak tanggal Rp20.772.085.239, lebih rendah/lebih tinggi, higher/lower interest expense on loans with
Ltd. (dahulu/formerly kegiatan Penugasan Survei Pendahuluan 29 Juni 2023 sampai terutama sebagai akibat dari beban bunga floating interest rates.
Mitsui Oil dan Eksplorasi ("PSPE") dari Pemerintah dengan waktu mana yang yang lebih tinggi/lebih rendah pada pinjaman
Exploration Co., dan bergantung pada keberhasilan terjadi terlebih dahulu; dengan suku bunga mengambang.
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 b. Risiko fluktuasi nilai tukar mata uang asing b. Foreign currency risk
di Provinsi Sumatera Barat, Indonesia. Energi dan Sumber Daya
Mineral Indonesia Risiko mata uang asing adalah risiko bahwa Foreign currency risk is the risk that the fair
MPI agreed to form a consortium to jointly ("Kementerian ESDM") atau nilai wajar atau arus kas masa depan dari value or future cash flows of a financial
carry out the government's Preliminary perjanjian diakhiri suatu instrumen keuangan dalam mata uang instrument denominated in foreign currency
Survey and Exploration Assignment berdasarkan kesepakatan
activities and contingently on the success of bersama. asing akan berfluktuasi karena perubahan nilai will fluctuate because of changes in exchange
exploration drilling. The parties will jointly tukar. Perusahaan dan sebagian entitas anak rates. Functional currency of the Company
own and develop the Bonjol Geothermal This Consortium Agreement memiliki mata uang fungsional Rupiah. and certain Subsidiaries is Rupiah. While,
Project, located in West Sumatra Province, will be effective from June Namun, beberapa entitas anak lain memiliki functional currency of the the other
Indonesia. 29, 2023 whichever occurs mata uang fungsional Dolar AS. subsidiaries is US Dollar.
first; until Geothermal
permits for the Bonjol Perusahaan dan entitas anak terkena risiko The Company and subsidiaries are exposed to
working area are granted valuta asing karena pembelian dan beban foreign exchange risk due to certain purchases
from the Indonesian Ministry tertentu dalam mata uang yang berbeda dari and expenses denominated in a currency
of Energy and Mineral mata uang fungsionalnya. Sebagian besar different from their functional currency. Most
Resources ("Ministry of
Energy and Mineral entitas anak telah memiliki lindung nilai secara subsidiaries have a natural hedge because
Resources") or the alami karena memiliki penghasilan, beban they have revenues, principal expenses and
agreement is terminated utama dan pembiayaan dalam mata uang financing in the same currency.
based on mutual yang sama.
agreement, which ever
occurs first. 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
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES semua variabel lain dianggap konstan, laba all other variables held constant, profit before
RISIKO KEUANGAN AND POLICIES 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,
Risiko utama yang timbul dari instrumen keuangan The main risks arising from the Group‘s financial lebih rendah/lebih tinggi, terutama sebagai mainly as a result of foreign exchange losses/
Grup adalah risiko suku bunga, risiko fluktuasi nilai instruments are interest rate risk, foreign currency akibat dari kerugian/keuntungan selisih kurs gains on the remeasurement of cash and cash
tukar mata uang asing, risiko kredit dan risiko risk, credit risk and liquidity risk. The Board of atas pengukuran kembali kas dan setara kas, equivalents, trade receivable, other
likuiditas. Direksi Perusahaan menelaah dan Directors reviews and approves the policies for piutang usaha, piutang lain-lain, utang usaha, receivables, trade payables, other payables,
menyetujui kebijakan untuk mengelola risiko-risiko managing each of these risks which are utang lain-lain, dan biaya yang masih harus and accrued expenses denominated in US
yang dirangkum di bawah ini: summarized below: dibayar dalam mata uang Dolar AS dan Euro. Dollars and Euro.
a. Risiko suku bunga a. Interest rate risk c. Risiko kredit c. Credit risk
Risiko suku bunga adalah risiko dimana nilai Interest rate risk is the risk that the fair value Risiko kredit mengacu pada risiko bahwa Credit risk refers to the risk that a counterparty
wajar atau arus kas masa datang dari suatu or future cash flows of a financial instrument counterparty akan gagal memenuhi kewajiban will default on its contractual obligations
instrumen keuangan akan berfluktuasi akibat will fluctuate because of the changes in kontraktualnya yang mengakibatkan kerugian resulting in financial loss to the Group. The
perubahan suku bunga dan akan berdampak interest rates and will have a negative impact finansial bagi Grup. Grup memiliki konsentrasi Group concentration of credit risk receivables
negatif terhadap kinerja keuangan on the financial performance of the Company risiko kredit atas piutang karena sebagian because the majority of the Group’s revenue is
Perusahaan dan Entitas Anaknya. Perusahaan and its Subsidiaries. The Company and its besar pendapatan Grup adalah dari PT PLN from PT PLN (Persero) and its subsidiaries in
dan Entitas Anaknya memiliki risiko tingkat Subsidiaries have interest rate risk which (Persero) dan entitas anaknya sesuai dengan accordance with Power Purchase Agreement
suku bunga yang terutama berasal dari mainly originates from movements in interest Perjanjian Pembelian Tenaga Listrik atau or Operation and Maintenance contracts.
pergerakan suku bunga pinjaman bank rates on bank loans with floating interest rates. kontrak Operasi dan Pemeliharaan. Management believes in controlling and
dengan tingkat suku bunga mengambang. Manajemen berkeyakinan untuk maintaining minimal exposure to credit risk
mengendalikan dan mempertahankan considering that the Group has a legally
Untuk mengelola risiko suku bunga, Grup To manage interest rate risk, the Group eksposur yang minimal dari risiko kredit binding agreement with PLN, where PLN is a
melakukan kontrak Pertukaran Tingkat Suku undertakes Interest Rate Swaps contracts. mengingat bahwa Grup memiliki perjanjian state-owned entity with an "investment grade"
Bunga. Kontrak ini dicatat sebagai transaksi The contracts are recorded as a transaction yang mengikat secara hukum dengan PLN, rating.
yang ditetapkan sebagai lindung nilai, dimana designated as a hedge, where the gain or loss yang mana PLN merupakan entitas Badan
keuntungan atau kerugian yang timbul dari arising from the effective portion of the cash Usaha Milik Negara dengan peringkat
bagian efektif lindung nilai atas arus kas flow hedge is credited or charged to other "investment grade".
dikreditkan atau dibebankan di pendapatan comprehensive income.
komprehensif lain.
139 140
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2025 Management Business Company Corporate Sustainability
288 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 289
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES 39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued) RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
c. Risiko kredit (lanjutan) c. Credit risk (continued) d. Risiko likuiditas (lanjutan) d. Liquidity 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 Tabel di bawah ini menyajikan periode jatuh The following table sets out the maturity profile
Desember 2025, Grup memiliki kas di bank December 31, 2025, the Group had cash in tempo liabilitas keuangan Grup termasuk of the Group's financial liabilities, including
dan deposito berjangka disimpan di PT Bank banks and time deposits held at PT Bank bunga di masa depan, (dalam jutaan rupiah) future interest, (in millions of rupiah) based on
Mandiri (Persero) Tbk yang merupakan 39% Mandiri (Persero) Tbk which constituted 39% berdasarkan pembayaran kontraktual yang contractual undiscounted payments:
dari total kas dan setara kas dan deposito of total cash and cash equivalents (2024: PT tidak didiskontokan:
berjangka (2024: PT Bank Woori Saudara Bank Woori Saudara Indonesia 1906 Tbk
Indonesia 1906 Tbk sebesar 63%). around 63%). 2025
Sehubungan dengan rekening bank dan With respect to cash in banks and time Dalam 1 Lebih dari
tahun/ 5 tahun/
deposito berjangka yang ditempatkan pada deposits maintained with financial institutions, Within 1 1-2 tahun/ 2-3 tahun/ 3-4 tahun/ 4-5 tahun/ More than Total/
lembaga keuangan, Grup bertransaksi hanya the Group transacts only with financially sound year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total
dengan lembaga keuangan yang sehat. Risiko financial institutions. Credit risk arising from
Pinjaman bank Short term bank
kredit yang timbul dari aset keuangan lainnya the other financial assets relates to the jangka pendek 50.000 - - - - - 50.000 loan
terkait dengan eksposur Grup terhadap Group’s exposure to losses from the possible
Utang usaha 138.917 - - - - - 138.917 Trade payable
kerugian dari kemungkinan default dari pihak default of the counterparties such as their
rekanan seperti pelanggan mereka dan pihak customers and related parties. Utang lain-lain 1.249.496 69.292 - - - - 1.318.788 Other payables
terkait. 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
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 Utang kepada Due to related
pihak berelasi - 28.454 - - - - 28.454 parties
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 Liabilitas sewa 14.273 14.441 13.207 12.709 670 4.178 59.478 Lease liabilities
dan deposito berjangka yang dibatasi cash equivalents, restricted cash in banks and Pinjaman jangka
penggunaannya, piutang usaha, piutang lain- time deposits, trade receivables, other panjang Long-term debt
lain, keuangan piutang sewa pembiayaan dan receivables, finance lease receivables and Pokok 609.254 605.327 698.865 853.799 410.202 4.214.735 7.392.182 Principal
aset keuangan konsesi yang disajikan sebagai concession financial assets that is presented Bunga 496.082 458.034 408.273 359.129 299.075 486.541 2.507.134 Interest
“Aset Tidak Lancar Lainnya” pada laporan as “Other Non-current Assets” in the
Pinjaman jangka Other long-term
posisi keuangan konsolidasian. consolidated statement of financial position. panjang lainnya debt
Pokok 10.300 526.305 125.035 494.490 1.116.955 487.525 2.760.610 Principal
d. Risiko likuiditas d. Liquidity risk Bunga 253.048 251.614 203.583 194.255 147.278 48.091 1.097.869 Interest
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 2024
kas dengan mempertimbangkan pembayaran future liability payments and receivables Dalam 1 Lebih dari
kewajiban dan penagihan piutang di masa collection,as well as, availability of financing. tahun/ 5 tahun/
mendatang, serta ketersediaan pendanaan. Currently, the Group depends on its related 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
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 Pinjaman bank Short term bank
membiayai operasinya. Grup juga secara cash equivalents deemed adequate to finance jangka pendek 883.930 - - - - - 883.930 loan
teratur mengevaluasi arus kas yang its operations. The Group also regularly Utang usaha 260.863 - - - - - 260.863 Trade payable
diproyeksikan dan aktual. evaluates the projected and actual cash flows. 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
141 142
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2025 Management Business Company Corporate Sustainability
290 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 291
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES 39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued) RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
e. Manajemen modal e. Capital management
f. Perubahan Liabilitas yang Timbul dari Aktivitas f. Changes in Liabilities Arising from Financing
Tujuan Grup dalam mengelola modal adalah The Group objectives when managing capital Pendanaan (lanjutan) Activities (continued)
untuk memelihara struktur permodalan yang are to maintain a strong capital base and to
kuat dan mempertahankan pengembangan sustain future development of the business. Tabel di bawah ini menyajikan perubahan The following table sets out the changes of the
bisnis yang berkelanjutan di masa depan. liabilitas keuangan Grup yang timbul dari Group’s financial liabilities arising from
aktivitas pendanaan (dalam jutaan rupiah): financing activities (in millions of rupiah):
Grup secara teratur meninjau dan mengelola The Group regularly reviews and manages (lanjutan) (continued)
struktur permodalannya untuk memastikan their capital structure to ensure optimal
struktur modal dan pengembalian pemegang structure and shareholder returns, taking into 2024
saham yang optimal, dengan consideration the future capital requirements Biaya yang
mempertimbangkan kebutuhan modal masa of the Group and capital efficiency, prevailing Valuta Belum
Asing/ Diamortisasi/
depan Grup dan efisiensi modal, profitabilitas and projected profitability, operating cash 1 Januari/ Arus Kas/ Foreign Unamortized Reklasifikasi/ 31 Desember/
yang berlaku dan terproyeksi, arus kas flows, capital expenditures and strategic January 1 Cash flows Exchange cost Reclassification December 31
operasi, belanja modal dan strategi peluang investment opportunities. Porsi jangka pendek
investasi. atas: Current maturities of:
Liabilitas sewa 16.659 (20.000) - - 9.335 5.994 Lease liabilities
Manajemen menganggap total ekuitas sebagai Management regards total equity as capital for
modal untuk tujuan manajemen modal. Pada capital management purposes. As of Pinjaman jangka
panjang 1.199.367 (1.818.749) - - 960.313 340.931 Long-term debt
tanggal 31 Desember 2025, termasuk di December 31, 2025, including capital
dalamnya, modal yang dapat diatribusikan attributable to owners of the parent company Pinjaman jangka
panjang lainnya 7.000 (7.000) - - 1.050.690 1.050.690 Other long-term debt
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 Porsi jangka panjang
atas: - Non-current portion of:
oleh manajemen, setelah memperhitungkan management, after taking into account, the
Liabilitas sewa 13.558 - 527 11.715 (9.335) 16.465 Lease liabilities
proyeksi belanja modal dan peluang investasi projected capital expenditures and strategic
strategis. investment opportunities. Pinjaman jangka
panjang 3.788.957 2.201.956 161.700 410.046 (960.313) 5.602.346 Long-term debt
Tidak ada perubahan dalam pendekatan Grup There are no changes in the Group’s approach Pinjaman jangka
panjang lainnya 1.402.658 750.000 - (1.076) (1.050.690) 1.100.892 Other long-term debt
terhadap pengelolaan modal sepanjang tahun. to the capital management during the year.
Total liabilitas dari Total liabilities from
aktivitas pendanaan 6.428.199 1.106.207 162.227 420.685 - 8.117.318 financing activities
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 40. INSTRUMEN KEUANGAN 40. FINANCIAL INSTRUMENTS
aktivitas pendanaan (dalam jutaan rupiah): financing activities (in millions of rupiah): . .
2025
Nilai wajar Fair values
Biaya yang
Valuta Belum Grup menggunakan hierarki berikut untuk The Group use the following hierarchy for
Asing/ Diamortisasi/
1 Januari/ Arus Kas/ Foreign Unamortized Reklasifikasi/ 31 Desember/ menentukan dan mengungkapkan nilai wajar dari determining and disclosing the fair value of financial
January 1 Cash flows Exchange cost Reclassification December 31 instrumen keuangan dengan teknik penilaian: instruments by valuation technique:
Porsi jangka pendek
atas: Current maturities of:
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
Liabilitas sewa 5.994 (20.435) - - 28.714 14.273 Lease liabilities
untuk aset dan liabilitas yang identik
Pinjaman jangka
panjang 340.931 (1.664.702) - - 1.933.025 609.254 Long-term debt Tingkat 2: teknik lainnya dimana semua masukan Level 2: other techniques for which all inputs
Pinjaman jangka yang memiliki efek yang signifikan which have a significant effect on the
panjang lainnya 1.050.690 (1.050.690) - - 10.300 10.300 Other long-term debt terhadap nilai wajar tercatat dapat recorded fair value are observable,
Porsi jangka panjang diobservasi, baik secara langsung either directly or indirectly
atas: Non-current portion of:
maupun tidak langsung
Liabilitas sewa 16.465 - 97 57.357 (28.714) 45.205 Lease liabilities
Pinjaman jangka
Tingkat 3: teknik yang menggunakan masukan Level 3: techniques which use inputs which
panjang 5.602.346 2.546.084 192.721 7.082 (1.933.025) 6.415.208 Long-term debt yang memiliki efek signifikan terhadap have a significant effect on the
Pinjaman jangka nilai wajar tercatat yang tidak recorded fair value that are not based
panjang lainnya 1.100.892 1.650.000 - (8.617) (10.300) 2.731.975 Other long-term debt berdasarkan data pasar yang dapat on observable market data
diobservasi
Total liabilitas dari Total liabilities from
aktivitas pendanaan 8.117.318 1.460.257 192.818 55.822 - 9.826.215 financing activities
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).
143 144
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2025 Management Business Company Corporate Sustainability
292 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 293
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
40. INSTRUMEN KEUANGAN (lanjutan) 40. FINANCIAL INSTRUMENTS (continued) 40. INSTRUMEN KEUANGAN (lanjutan) 40. FINANCIAL INSTRUMENTS (continued)
. .
Aset dan liabilitas keuangan tidak lancar (lanjutan) Non-current financial assets and financial liabilities
Pada tanggal 31 Desember 2025 dan 2024, rincian As of December 31, 2025 and 2024, the details of (continued)
dari aset dan liabilitas keuangan Grup adalah the Group’s financial assets and liabilities are as
sebagai berikut: follows: 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
Aset dan liabilitas keuangan lancar Current financial assets and liabilities Desember 2025 dan 2024 adalah sebagai berikut: as of December 31, 2025 and 2024 are as follows:
Aset dan liabilitas keuangan lancar Grup terdiri dari The Group’s current financial assets and liabilities (lanjutan) (continued)
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 2024
tahun, aset derivatif yang jatuh tempo dalam satu derivative assets, current maturities of concession Nilai Tercatat/ Nilai Wajar/Fair
tahun, aset keuangan konsesi yang jatuh tempo financial assets, trade payables, other payables, Carrying Values Values
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 Aset keuangan Financial assets
satu tahun, utang kepada pihak berelasi yang jatuh maturities of lease liabilities, current maturities of Aset keuangan konsesi 8.846.237.824.779 9.340.258.315.287 Concession financial asset
tempo dalam waktu satu tahun, pinjaman bank other long-term debt and current maturities of long- Piutang lain-lain - pihak ketiga 121.470.076.800 121.470.076.800 Other receivables - third parties
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 Piutang sewa pembiayaan 1.153.322.351.850 1.406.763.043.928 Finance lease receivables
jangka panjang lainnya yang jatuh tempo dalam their fair values due to the short-term maturity of Aset derivatif 361.529.964.880 361.529.964.880 Derivative assets
satu tahun dan pinjaman jangka panjang yang jatuh these financial assets and liabilities. Investasi jangka panjang 67.337.450.000 67.337.450.000 Long-term investments
tempo dalam satu tahun. Nilai tercatat aset dan
liabilitas keuangan lancar Grup mendekati nilai
wajar karena sifat dasar jangka pendek dari akun Liabilitas keuangan Financial liabilities
aset dan liabilitas keuangan. 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
Aset dan liabilitas keuangan tidak lancar Non-current financial assets and financial liabilities 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
Perbandingan jumlah tercatat dan nilai wajar aset A comparison of the carrying amounts and fair Pinjaman jangka panjang 5.602.345.504.172 5.602.345.504.172 Long-term debt
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: Pinjaman jangka panjang lainnya 1.100.892.401.635 1.100.892.401.635 Other long-term debt
2025
Nilai Tercatat/ Nilai Wajar/
Carrying Values Fair Values
Nilai tercatat atas pinjaman jangka panjang dan The carrying values of long-term debt and other
Aset keuangan Financial assets pinjaman jangka panjang lainnya mendekati nilai long-term debt approximate their fair values
Aset keuangan konsesi 9.317.867.477.124 10.072.468.505.715 Concession financial assets 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
Piutang lain-lain - pihak ketiga 224.999.483.708 224.999.483.708 Other receivables - third parties
pasar yang berlaku. rates.
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
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
Investasi jangka panjang 57.615.292.313 57.615.292.313 Long-term investments 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
Liabilitas keuangan Financial liabilities
penilaian yang wajar dengan input pasar yang using appropriate valuation techniques with
dapat diobservasi. Investasi jangka panjang adalah observable market inputs. The long-term
Utang lain-lain 69.292.188.853 69.292.188.853 Other payables investasi ekuitas tidak tercatat dengan pendekatan investment is a non-listed equity investment that is
Beban akrual 249.419.441.840 249.419.441.840 Accrued expenses nilai wajar. carried at fair value approach.
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
145 146
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2025 Management Business Company Corporate Sustainability
294 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 295
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
41. INFORMASI SEGMEN 41. SEGMENT INFORMATION 41. INFORMASI SEGMEN (lanjutan) 41. SEGMENT INFORMATION (continued)
. .
Grup mengklasifikasikan dan mengevaluasi The Group classifies and evaluates its financial 2024 (Dalam jutaan rupiah/in million rupiah)
informasi keuangan mereka menjadi pelaporan information into reportable operating segments IPP Hidro Holding dan
segmen operasi yang dikelompokkan menjadi lima which are grouped into five (5) strategic business dan Energi operasional
IPP Panas terbarukan/ Operasi dan terkait/
(5) kelompok bisnis strategis: groups: Bumi/ Hydro IPP pemeliharaan/ Holding and
IPP Gas/ Geothermal and other Operation and related Eliminasi/ Konsolidasi/
Gas IPP IPP renewables maintenance operations Elimination Consolidation
Segmen Operasi Operating Segments
Penjualan eksternal/ External sales 1.285.396 1.307.144 216.660 435.380 26.722 - 3.271.302
Grup bergerak di bidang usaha sebagai The Group is engaged in the following
berikut: business activities:
Penjualan antar segmen/
Intersegment sales 19.053 - - 46.122 61.703 (126.878) -
i. IPP Gas i. Gas IPP
Total pendapatan/ Total revenues 1.304.449 1.307.144 216.660 481.502 88.425 (126.878) 3.271.302
ii. IPP Panas Bumi ii. Geothermal IPP Laba bruto/
Gross profit 579.286 267.602 45.831 272.000 76.128 (47.053) 1.193.794
iii. IPP Hidro dan energi terbarukan iii. Hydro IPP and other renewables Beban operasional/Operational
expenses (214.692) (30.921) (30.074) (176.301) (224.613) 66.438 (610.163)
iv. Operasi dan pemeliharaan iv. Operation and maintenance
Bagian laba dari ventura bersama
dan asosiasi/
v. Holding dan operasi terkait v. Holding and related operation 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
2025 (Dalam jutaan rupiah/in million rupiah) (loss) for the year 132.771 91.080 (96.435) 79.117 (52.844) (262.078) (108.389)
IPP Hidro Holding dan
dan Energi operasional ASET
IPP Panas terbarukan/ Operasi dan terkait/ Aset segmen/
Bumi/ Hydro IPP pemeliharaan/ Holding and ASSET
IPP Gas/ Geothermal and other Operation and related Eliminasi/ Konsolidasi/ Segment assets 9.086.958 4.205.788 763.661 458.178 11.369.805 (7.472.758) 18.411.632
Gas IPP IPP renewables maintenance operations Elimination Consolidation
Investasi jangka panjang/
Long-term investments - - - - 2.522.867 - 2.522.867
Penjualan eksternal/ External sales 1.601.571 492.755 201.444 467.432 168.783 - 2.931.985
LIABILITAS
Liabilitas segmen/
Penjualan antar segmen/ LIABILITIES
Intersegment sales 22.155 - - 124.019 65.071 (211.245) - Segment liabilities 5.335.591 3.174.040 1.082.398 199.762 6.598.310 (4.623.385) 11.766.716
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
42. ASET DAN LIABILITAS MONETER DALAM 42. MONETARY ASSETS AND LIABILITIES
expenses (260.432) (61.631) (27.737) (210.406) (198.676) 75.377 (683.505) MATA UANG ASING DENOMINATED IN FOREIGN CURRENCIES
Bagian laba dari ventura bersama
dan asosiasi/ Grup memiliki aset dan liabilitas moneter dalam The Group has monetary assets and liabilities
Share in net profit of joint venture
and associate - - - - 60.847 - 60.847 mata uang asing dengan rincian sebagai berikut: denominated in foreign currencies as follows:
Beban pendanaan/Finance costs (260.645) (120.091) (9.298) (314) (402.023) (11) (792.382)
2025
Dalam mata uang aslinya (dalam satuan penuh)/ Setara Rupiah
Laba (rugi) tahun berjalan/Profit In original currency (full amount) (dalam jutaan)/
(loss) for the year 159.642 91.747 47.856 132.705 239.298 (428.107) 243.141 Rupiah
AS$/ Euro/ Lain-lain/ Equivalent
ASET US$ Euro Others (in million)
Aset segmen/
ASSET Aset Assets
Segment assets 9.934.314 4.780.887 947.114 525.073 12.774.775 (8.616.670) 20.345.493
Kas dan setara kas 77.110.102 - - 1.294.062 Cash and cash equivalents
Investasi jangka panjang/ Rekening dan deposito bank
Long-term investments - - - - 2.610.830 - 2.610.830
yang dibatasi Restricted time deposits and
LIABILITAS penggunaannya 1.350.969 - - 22.672 cash in banks
Liabilitas segmen/
LIABILITIES Trade receivables - third
Segment liabilities 5.824.381 3.616.328 1.217.835 243.209 7.775.777 (5.296.141) 13.381.389 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
147 148
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2025 Management Business Company Corporate Sustainability
296 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 297
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
42. ASET DAN LIABILITAS MONETER DALAM 42. MONETARY ASSETS AND LIABILITIES 44. CATATAN ATAS LAPORAN ARUS KAS 44. NOTES TO THE CONSOLIDATED STATEMENT
MATA UANG ASING (lanjutan) DENOMINATED IN FOREIGN CURRENCIES KONSOLIDASIAN OF CASH FLOWS
(continued)
Grup memiliki aset dan liabilitas moneter dalam The Group has monetary assets and liabilities Rincian pengungkapan tambahan aktivitas non-kas The details of supplemental disclosure of non-cash
mata uang asing dengan rincian sebagai berikut: denominated in foreign currencies as follows: adalah sebagai berikut: activities are as follows:
(lanjutan) (continued)
2025 2024
2024 Additions to property, plant and
Dalam mata uang aslinya (dalam satuan penuh)/ Setara Rupiah Penambahan aset tetap dari utang equipment from payable and
In original currency (full amount) (dalam jutaan)/ dan pinjaman 3.084.833.028 502.394.139.511 loan
Rupiah
AS$/ Euro/ Lain-lain/ Equivalent Penambahan aset keuangan Addition to concession financial
US$ Euro Others (in million) konsesi dari marjin konsesi 10.916.893.338 - assets from concession margin
Aset Assets 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
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 45. KONTINJENSI 45. CONTINGENCIES
berelasi 149.413 - - 2.415 parties
Piutang lain-lain - pihak ketiga 1.798.516 568.230 459 40.880 Other receivables - third parties PT Medco Ratch Power Riau PT Medco Ratch Power Riau
Liabilitas Liabilities Novia Corry (Penggugat 1) dan Fenny Wong Novia Corry (Plaintiff 1) and Fenny Wong (Plaintiff
Utang usaha - pihak ketiga (3.538.245) 220 - (109.656) Trade payables - third parties (Penggugat 2) mengajukan gugatan terhadap PT 2) filed a lawsuit against PT Lotte Engineering &
Beban akrual - - - - Accrued expenses Lotte Engineering & Construction Co. Ltd (Tergugat Construction Co. Ltd (Defendant 1) and MRPR
Pinjaman jangka panjang (316.811.485) - - (5.120.373) Long-term debt
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
Liabilitas Neto (245.274.368) 568.450 459 (3.909.313) Net Liabilities 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
43. LABA (RUGI) PER SAHAM 43. EARNING (LOSS) PER SHARE 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.
Laba (rugi) per saham dasar dihitung dengan Basic earning (loss) per share amounts are dalam melaksanakan putusan pengadilan.
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 Pada 18 April 2023, Pengadilan Negeri On April 18, 2023, the District Court issued decision
rata-rata tertimbang jumlah saham yang beredar weighted average number of ordinary shares mengeluarkan putusan di mana Tergugat 2 in which Defendant 2 is sentenced to pay court cost
pada tahun yang bersangkutan. outstanding during the year. dihukum membayar biaya perkara sebesar of Rp986,000 (nine hundred eighty six thousand of
Rp986.000 (sembilan ratus delapan puluh enam Rupiah).
Pada tanggal 31 Desember 2025 dan 2024, jumlah As of December 31, 2025 and 2024, total weighted ribu Rupiah).
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 Pada tanggal 26 Januari 2024, Pengadilan Tinggi On January 26, 2024, the Jakarta Hight Court
saham dasar masing-masing sebanyak 1,100,000,000. Jakarta menguatkan putusan Pengadilan Negeri. upholds the decision of District Court.
1.100.000.000. 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
2025 2024 atas putusan Pengadilan Tinggi Jakarta. Indonesia on the Jakarta Hight Court decision.
Laba (rugi) yang dapat Pada 16 Desember 2024, Mahkamah Agung On December 16, 2024, the Supreme Court of the
diatribusikan kepada pemilik Profit (loss) attributable to equity menolak permohonan kasasi atas putusan Republic Indonesia rejected the cassation of
entitas induk 17.191.338.200 (262.932.690.349) holder of the parent company Pengadilan Tinggi Jakarta dan menghukum MRPR Jakarta High Court Decision. and sentenced MRPR
Total rata-rata tertimbang saham The weighted average number of untuk membayar biaya perkara sebesar Rp500.000 to pay court cost of Rp500,000 (five hundred
biasa yang beredar 1.100.000.000 1.100.000.000 outstanding shares (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,
Laba (rugi) per saham dasar 15,63 (239,03) Basic earnings (loss) per share 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.
149 150
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2025 Management Business Company Corporate Sustainability
298 Overview Performance Discussion & Analysis Activities Profile Governance Report Attachments PT Medco Power Indonesia 2025 Annual & Sustainability Report Progress. Growth. Future. 299
The original consolidated financial statements included herein are in the The original consolidated financial statements included herein are in the
Indonesian language Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2025 As of December 31, 2025 Tanggal 31 Desember 2025 As of December 31, 2025
dan Untuk Tahun yang Berakhir and For the Year Then Ended dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated) pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
46. PERISTIWA SETELAH TANGGAL PELAPORAN 46. EVENTS AFTER THE REPORTING PERIOD 47. STANDAR AKUNTANSI YANG TELAH 47. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE (continued)
i. Pada tanggal 8 Januari 2026, MPI melakukan i. On January 8, 2026, MPI has made early EFEKTIF (lanjutan)
pelunasan dipercepat atas hutang Bank BTN repayment of BTN Bank Loan
sebesar Rp126.000.000.000. Rp126,000,000,000. Mulai efektif pada atau setelah 1 Januari 2026 Effective beginning on or after January 1, 2026
(lanjutan) (continued)
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 Amendemen PSAK 109 dan PSAK 107: Klasifikasi Amendments to PSAK 109 and PSAK 107:
sebesar Rp50.000.000.000. Rp50,000,000,000. dan Pengukuran Instrumen Keuangan (lanjutan) Classification and Measurement of Financial
Instruments. (continued)
iii. Pada tanggal 5 Maret 2026, MSBT melakukan iii. On March 5, 2026, MSBT withdrew a loan Selain itu, panduan tambahan ditambahkan Additional guidance is also introduced on how to
penarikan pinjaman sebesar AS$470.244 dari amounting to US$470,244 from PT Bank mengenai bagaimana arus kas kontraktual untuk assess the contractual cash flows of financial
PT Bank Negara Indonesia (Persero) Tbk. Negara Indonesia (Persero) Tbk. 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.
iv. Pada tanggal 10 Maret 2026, Pemegang iv. On March 10, 2026, the Company’s Amendemen tersebut juga mengklarifikasi fitur non- The amendments also clarify non-recourse
Saham Perseroan telah menyetujui Shareholders approved an increase in the recourse, dan karakteristik instrumen yang terkait features, and the characteristics of contractually
peningkatan modal dasar sebesar Rp1,5 triliun authorized capital of Rp1.5 trillion and an secara kontraktual. linked instruments.
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 Selain itu, amendemen tersebut memperkenalkan Furthermore, the amendments introduce disclosure
Keputusan Sirkuler sebagai Pengganti Rapat Extraordinary General Meeting of persyaratan pengungkapan untuk instrumen requirements for financial instruments with
Umum Pemegang Saham Luar Biasa Shareholders ("EGMS"). keuangan dengan fitur kontinjensi, serta contingent features, and additional disclosure
("RUPSLB"). persyaratan pengungkapan tambahan untuk requirements for equity instruments classified at fair
instrumen ekuitas yang diklasifikasikan pada nilai value through other comprehensive income (“OCI”).
v. Pada tanggal 11 Maret 2026, Perseroan telah v. On March 11, 2026, the Company received an wajar melalui penghasilan komprehensif lain
menerima setoran modal sebesar equity contribution amounting to (“OCI”).
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 Amendemen tersebut berlaku efektif untuk periode These amendments are effective for annual
Rp1.000 per saham, yang diambil bagian oleh of Rp1,000 per share, which were subscribed pelaporan tahunan yang dimulai pada atau setelah reporting periods beginning on or after 1 January
pemegang saham eksisting secara proportionally by existing shareholders and did 1 Januari 2026, dengan penerapan dini 2026, with earlier application permitted only for the
proporsional dan tidak mengakibatkan not result in any change in the Company’s diperkenankan hanya untuk klasifikasi aset classification of financial assets and related
perubahan struktur pengendalian Perseroan. control structure. As of the reporting date, the keuangan dan pengungkapan terkait. disclosures.
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 Grup saat ini sedang menilai dampak dari The Group is currently assessing the impact of the
persetujuan Kementerian Hukum dan Hak and Human Rights of the Republic of amendemen tersebut untuk menentukan amendment to determine the impact they will have
Asasi Manusia Republik Indonesia. Indonesia. 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:
47. STANDAR AKUNTANSI YANG TELAH 47. ACCOUNTING STANDARDS ISSUED BUT NOT yang Mengacu pada Listrik Bergantung Alam Contracts Referencing Nature-dependent Electricity
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE
EFEKTIF 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
Standar akuntansi yang telah diterbitkan sampai The accounting standards that have been issued dalam ruang lingkup standar tersebut. scope of the standards.
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 Selain itu, amendemen ini, mengubah persyaratan In addition, the amendments, modify the
berikut ini. Manajemen bermaksud untuk effective are disclosed below. The management penetapan (designation) atas item yang dilindungi designation requirements for hedged items in cash
menerapkan standar yang dipertimbangkan relevan intends to adopt these standards that are dalam hubungan lindung nilai arus kas untuk flow hedge relationships for such contracts, and
terhadap Grup pada saat standar tersebut berlaku considered relevant to the Group when they kontrak-kontrak tersebut, dan menambahkan introduce new disclosure requirements to enable
efektif, dan dampak penerapan standar tersebut become effective, and the impact to the persyaratan pengungkapan baru agar investor investors to better understand the impact of these
terhadap posisi dan kinerja keuangan konsolidasian consolidated statement of financial position and dapat memahami dampak kontrak tersebut contracts on the entity’s financial performance and
Grup masih diestimasi pada tanggal selesainya performance of the Group is still being estimated as terhadap kinerja keuangan dan arus kas cash flows.
laporan keuangan konsolidasian. Kecuali of completion date of the consolidated financial perusahaan.
disebutkan lain, Grup tidak mengharapkan adopsi statements. Unless otherwise indicated, the Group Amendemen tersebut akan berlaku efektif untuk These amendments will be effective for annual
pernyataan tersebut di masa depan memiliki does not expect that the future adoption of the periode pelaporan tahunan yang dimulai pada atau reporting periods beginning on or after 1 January
dampak signifikan terhadap laporan keuangan below amendments and new accounting standards setelah 1 Januari 2026. Penerapan dini 2026. Early adoption is permitted but must be
konsolidasian. to have a significant impact on its consolidated diperbolehkan namun harus diungkapkan. disclosed.
financial statements.
Amendemen terkait pengecualian own-use The amendments relating to the own-use
Mulai efektif pada atau setelah 1 Januari 2026 Effective beginning on or after January 1, 2026 diterapkan secara retrospektif, sedangkan exemption are applied retrospectively, while the
amendemen akuntansi lindung nilai diterapkan hedge accounting amendments are applied
Amendemen PSAK 109 dan PSAK 107: Klasifikasi Amendments to PSAK 109 and PSAK 107: secara prospektif untuk hubungan lindung nilai baru prospectively to new hedge relationships
dan Pengukuran Instrumen Keuangan Classification and Measurement of Financial yang ditetapkan sejak tanggal penerapan awal. designated from the date of initial application.
Instruments.
Selain itu, amendemen pengungkapan dalam In addition, the disclosure amendments in PSAK
Amendemen tersebut mencakup klarifikasi bahwa These amendments clarify that a financial liability is PSAK 107 harus diterapkan bersamaan dengan 107 must be applied together with the amendments
suatu liabilitas keuangan dihentikan pengakuannya derecognized on the settlement date and introduce amendemen PSAK 109. Apabila entitas tidak in PSAK 109. If an entity does not restate
pada tanggal penyelesaian (settlement date) serta an accounting policy choice (if certain conditions menyajikan kembali informasi komparatif, maka comparative information, it is not permitted to
memperkenalkan pilihan kebijakan akuntansi are met) to derecognize financial liabilities settled entitas tidak dapat menyajikan pengungkapan present comparative disclosures.
(apabila kondisi tertentu terpenuhi) untuk through electronic payment systems before the komparatif.
menghentikan pengakuan liabilitas keuangan yang settlement date.
Grup saat ini sedang menilai dampak dari The Group is currently assessing the impact of the
diselesaikan melalui sistem pembayaran elektronik amendemen tersebut untuk menentukan amendment to determine the impact they will have
sebelum tanggal penyelesaian. dampaknya terhadap pelaporan keuangan Grup. on the Company’s financial reporting.
151 152
Page 152
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
Names mentioned 88 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Medco Power Indonesia The Energy Building
p.1
unresolved
org
Ministry of Environment and Forestry.
p.10 ×2
unresolved
org
PT Mitra Energi Batam
p.16
unresolved
org
PT Medco Energi Menamas
p.16
unresolved
org
PT Pembangkitan
p.16
unresolved
org
PT Dalle Panaran
p.16
unresolved
org
PT Bio Jatropha Indonesia
p.16
unresolved
org
PT Sangsaka Agro Lestari
p.16
unresolved
org
PT PLN Batam
p.16 ×2
unresolved
org
PT Sangsaka Hidro Selebes DEB
p.16
unresolved
org
PT Dalle Energy Batam
p.16
unresolved
org
PT Medco Kansai Power
p.16 ×3
unresolved
org
PT Medcopower
p.16 ×4
unresolved
org
PT Dalle Energy
p.16
unresolved
org
PT Amman Mineral ELB
p.16
unresolved
org
PT Energi Listrik Batam
p.16
unresolved
org
PT Universal Batam Energy
p.16
unresolved
org
PT Medcosolar Bali Timur
p.16
unresolved
org
PT Universal Gas Energy Bali
p.16
unresolved
org
PT Medco Solar Bali Barat
p.16
unresolved
org
PT Energi Prima Elektrika
p.16
unresolved
org
PT PLN Enjiniring
p.16 ×2
unresolved
org
PT Telkom Data Ekosistem
p.16
unresolved
org
PT Multidaya Prima Elektrindo
p.16
unresolved
org
Nxera ID Pte. Ltd.
p.16
unresolved
org
PT Medco Ratch Power Riau
p.16
unresolved
org
PT Medco Power Sentral
p.16
unresolved
org
PT Medco Pasifik
p.16
unresolved
org
PT Medco Solar Pasifik
p.16
unresolved
org
PT Medcopower Energi Baru
p.16
unresolved
org
Sarulla Operations LTD
p.16
unresolved
org
PT TJB Power Services
p.16
unresolved
org
PT Medco Geothermal Sarulla
p.16
unresolved
org
PT Medco Cahaya Geothermal
p.16
unresolved
org
PT Medco Geothermal
p.16 ×3
unresolved
org
PT Ormat Geothermal Power
p.16
unresolved
org
PT Medco Power Energi
p.16 ×2
unresolved
org
PT Medco
p.16 ×4
unresolved
org
PT Medco Geothermal Indonesia
p.16
unresolved
org
PT Medco Power
p.16 ×5
unresolved
org
Ministry of Energy and Mineral
p.20
unresolved
org
PT Medco Power Karimata
p.23
unresolved
org
Indonesia Stock Exchange
p.23 ×6
unresolved
person
Notary Maria Theresia Suprapti
p.23 ×2
unresolved
org
PT Medco Power Internasional
p.23 ×4
unresolved
org
Purwanto Susanti
p.23 ×2
unresolved
org
Young Global Limited
p.23 ×2
unresolved
org
Energi Internasional Tbk
p.23
unresolved
org
PT Pemeringkat Efek Indonesia
p.23
unresolved
org
PT Kustodian Sentral Efek Indonesia
p.23
unresolved
org
Purwantono
p.26 ×2
unresolved
org
PT Indonesia Hijau Dwidaya
p.28
unresolved
org
PT Indonesia Hijau Papan
p.28
unresolved
org
Ferdy & Rekan
p.28
unresolved
person
M. Teguh Pamuji
· Chairman
p.28 ×3
unresolved
org
Financial Services Authority
p.30 ×6
unresolved
—
Fajrah Lestari Akili
· Corporate Secretary
p.30
unresolved
org
Minister of Energy and Mineral Resources
p.33
unresolved
org
PT MEDCO POWER INDONESIA DAN ENTITAS ANAKNYA
p.69 ×4
unresolved
org
PT Medco Power Indonesia Opini
p.70
unresolved
person
MTH. Suprapti
p.80
unresolved
person
MTH.
p.80
unresolved
person
Suprapti
p.80
unresolved
person
Poerbaningsih Adi Warsito
p.80 ×2
unresolved
person
Warsito
p.80
unresolved
person
Darmoyo Doyoatmojo
· Komisaris
p.80
unresolved
org
Menteri Hukum dan Hak Asasi
p.80
unresolved
org
Ministry of Law
p.80
unresolved
person
Eka Satria
· Direktur Utama
p.80
unresolved
person
Femi Firsadi Sastrena
· Direktur
p.80
unresolved
person
Imron Gazali
· Direktur
p.80
unresolved
person
Myrta Sri Utami
· Direktur
p.80
unresolved
person
Siti Rumondang Bulan Lubis
p.80 ×2
unresolved
org
Menteri
p.80
unresolved
person
Ferry Sanjaya
· Anggota
p.80
unresolved
org
Kementerian ESDM
p.145
unresolved
org
Ministry of Energy
p.145
unresolved
org
PT PLN
p.145 ×2
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