Aboitiz Power to help Medco in E. Java geothermal project
Tuesday, September 22 2015 - 02:43 AM WIB
Philippines? Aboitiz Power Corporation (AboitizPower) said its wholly-owned Singapore-based subsidiary, AboitizPower International Pte. Ltd., has entered into an agreement with PT Medco Power Indonesia to participate in the exploration and development of a potential 2x55 MW greenfield geothermal plant in East Java Province.
PT Medco Cahaya Geothermal, a subsidiary of PT Medco Power Indonesia, was awarded the concession to develop the project and is currently in the resource validation and exploration stage. AboitizPower did not provide further details.
This portal reported in June that Medco was looking for a partner to help finance the Ijen geothermal power project in East Java. Medco Power President Director Fazil Erwin Alfitri said at the time that the company, however, wanted to retain 70-80 percent stake in the project.
Editing by Reiner Simanjuntak