News

Five firms eye Mount Lawu geothermal areas in Central and East Java

Mount Lawu in Java, Indonesia. Source: (Flickr, CC, By: dany13)
Alexander Richter 17 Sep 2015

Five firms having signed up for the auction of the Mount Lawu geothermal working areas in Central and East Java. The firms are Pertamina Geothermal, Star Energy Geothermal, Ormat, Sari Prima energi and Bumi Energy.

As announced this morning, there are five companies that have expressed an interest in the auction of the geothermal working areas of Mount Lawu. The areas have a potential capacity of 165 MW.

The five companies named as interested in the areas are PT Pertamina Geothermal Energi, Star Energy Geothermal Ltd., PT Ormat, PT Sari Prima Energi and PT Bumi Energy. All have paid an auction guarantee of IDR 2 billion ($140,000) to ensure the winning bidder is able to manage the project both financially and technically.

The overall investment cost is estimated at $5 million per MW. So far the value of investments for Mount Lawu have reached $825 million, as reported by Indonesia Business Daily.

 

Source: Indonesia Business Daily