Aboitiz Power to co-develop geothermal project in Indonesia
Aboitiz Power Corporation has recently said in a disclosure to the Philippine Stock Exchange that it has secured a deal to co-develop a 110-megawatts (MW) geothermal plant with PT Medco Power Indonesia (MPI).
AboitizPower said its wholly-owned Singapore-based subsidiary AboitizPower International Pte. Ltd. entered into an agreement with MPI to collaborate in the exploration and development of a potential 2×55 MW greenfield geothermal plant in East Java Province, Indonesia. The project company for the geothermal plant will be PT Medco Cahaya Geothermal.
MPI is currently owned by two Indonesian firms, Saratoga Power, which is the largest national listed energy company in Indonesia, and Medco Energi Internasional Tbk (MEI), owned by Saratoga Capital, is the biggest Indonesian investment funds with ownership in Coal Mining, Power Generation, Foods, and Airlines Business.
MPI is active worldwide in exploration and production of oil and gas as well as the downstream businesses.PT Medco Cahaya was already awarded with the concession to develop the project and is currently in the resource validation and exploration stage.
Country news
-
-
April 17, 2014
M3nergy and PT Transamudra close financing for FPSO Ratu Nusantara
M3nergy and PT Transamudra as sponsors have close financing on a US$182 million term facility and US$38.4 million guarantee facility to finance the FPSO Ratu Nusantara. Read more -
May 26, 2014
IFC and Asia Green Capital agree to develop wind power in Indonesia
IFC, a member of the World Bank Group, and Asia Green Capital Partners, a developer and investment company dedicated to niche markets in the renewable energy sector, have entered into a joint development agreement to promote renewable energy generation, such as wind and solar power, in Indonesia and other markets across South East Asia. Read more -
July 03, 2014
GDF Suez to help PGN with feasibility study for on-shore LNG terminal
GDF SUEZ has signed a cooperation agreement with Perusahaan Gas Negara (PGN), the principal Indonesian operator in the field of natural gas distribution and transportation, related to a feasibility study for an on-shore LNG terminal in northern Java. Read more -
July 21, 2014
Armstrong Asset Management's fund invests in hydropower in Indonesia
Armstrong Asset Management has agreed to commit up to US $22.5 million to develop and operate a portfolio of 50MW mini-hydro plants in Indonesia. Read more -
October 10, 2014
PT PLN seeks consultant for 53 MW hydropower project
PT PLN (Persero) has received financing from the French Development Agency, for carrying out a feasibility study for the Masang-II Hydropower project in Indonesia. Read more
