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.

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From the Global Geothermal News archives:

• Tuesday, July 2, 2019 - Indonesia: Ormat Invests in Geothermal Power Project in East Java with 30-year PPA for up to 110 MW Capacity

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