JAKARTA - PT Medco Energi Internasional Tbk (MEDC) provides the latest news regarding its latest electricity project, the Ijen Geothermal Power Plant (PLTP).
MEDC Director and Chief Operating Officer Ronald Gunawan said that currently the construction of the Ijen PLTP has now reached 93 percent of the target.
Later, this project will increase the supply of clean energy by 110 Megawatts (MW).
"Phase one, we will develop a 34 MW geothermal power plant facility with our partner Ormat," he said in a public expose 2024, Monday, August 26.
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For information, Ormat Technologies Inc is a company from the United States that runs a geothermal business. In this project, MEDC holds a share ownership portion of 51 percent and another 49 percent is owned by Ormat.
This geothermal project has a value of 145 million US dollars. Meanwhile, Medco has now completed drilling and drilling of wells. Ronald confirmed that this project will start operating in the first quarter of 2025.
"The results confirm the capacity of 40 MW," he continued.
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