PT Medco Cahaya Geothermal (MCG) signed a financing agreement for the development of the Ijen Geothermal Power Plant in East Java, Indonesia, with state-owned PT Sarana Multi Infrastruktur (SMI), announced on Jan. 12 in a press release.
As the first geothermal plant in East Java, the Ijen plant will be developed and operated by MCG. Its first development stage is expected to generate 34 megawatts (MW) in 2025.
“This signing is another step to support Indonesia’s economy towards clean renewable energy and another step in Ormat’s long term plan to increase its presence in the country both as a geothermal power plant owner and as an equipment supplier,” said Ormat CEO Doron Blachar.
Ormat’s geothermal and recovered energy generation power plants are primarily based on its Ormat Energy Convertor, which converts low, medium and high temperature heat into electricity.
Worldwide, the power plants owned or installed by Ormat total approximately 3,200 MW of gross capacity. Medco Power owns and operates power plants in over 15 locations in Indonesia, totaling a gross capacity of 3.1 GW.
MCG is the jointly-owned subsidiary of U.S. geothermal power company Ormat Technologies Inc. and PT Medco Power Indonesia.
As a state-owned enterprise, SMI supports the acceleration of infrastructure development in Indonesia through financing and a public private partnership.
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