Tuesday, January 23, 2018

Indonesia: AC Energy Has High Hopes for New Geothermal Energy Assets

AC Power sees constant earnings progress from wind, geothermal fields (Luxora Leader)

AC Energy, the power unit of Ayala Corp., expects consistent earnings growth in the medium term with higher contributions from wind farms, geothermal and new power projects, its top official said.

In early 2017, AC Energy and its partners have sealed the purchase and acquisition of Chevron’s geothermal assets and operations in Indonesia. They were acquired through Star Energy Geothermal (Salak-Darajat) B.V., the joint venture firm of AC Energy (with 19.8 percent economic stake), Star Energy Group Holdings Pte. Ltd., Star Energy Geothermal Pte. Ltd. and Electricity Generating Public Co. Ltd.

The Indonesian assets and operations include the Darajat and Salak geothermal fields in West Java, with a combined capacity of 637 MW of steam and power.