Friday, July 12, 2019

Indonesia: Ormat Invests in Geothermal Power Project in East Java with 30-year PPA for up to 110 MW Capacity

Indonesia’s Medco Energi sells 49% stake in geothermal subsidiary (DEALSTREETASIA)

Indonesia’s listed energy company Medco Energi Internasional is selling a 49 per cent stake in subsidiary Medco Cahaya Geothermal (MCG) to New York-listed Ormat Geothermal Power for an undisclosed amount, according to a stock exchange filing.

Medco Energi owns 100 per cent of MCG through its arm Medco Power Indonesia (MPI).

MCG is the owner of a 110 MW geothermal power plant in Blawan-Ijen, East Java. The company has an electricity purchase agreement with the state-owned Perusahaan Listrik Negara (PLN) for 30 years. The project is currently still in the development phase and commercial operations are expected to start by the end of 2022.

Read More.........

From the Global Geothermal News archives:
Ormat Technologies will be exhibiting at the GRC Annual Meeting & Expo, 15-18 September at the Palm Springs Convention Center in Southern California, USA.