Thursday, November 3, 2016

Indonesia: PT Perusahaan Listrik Negara (PLN) Withdraws Chevron Geothermal Assets Bid

PLN exits Chevron geothermal race (Upstream Online)

Indonesia's PT Perusahaan Listrik Negara (PLN) has opted out of a tender for geothermal assets on offer from US energy giant Chevron, citing governance concerns, an official at the state electricity utility said on Thursday.

Meanwhile, Fazil Alfitri, the chief executive of Medco Power, a unit of Indonesia's PT Medco Energi Internasional, said on Tuesday his company was still in the running for the Chevron assets, including sites in Indonesia and in the Philippines, estimated to be worth $3 billion.

Italian utility Enel, French utility Engie, Japan's Marubeni, Thailand's Banpu Power and the Philippines' Aboitiz Power, have all expressed plans to bid for the assets.