Medco Power enters PPA with PLN for 110 MW Ljen project in East Java
Medco Power enters power purchase agreement for the $400 million 110 MW Ljen geothermal project in East Java, Indonesia.
In a statement of services provided, it is reported that “Medco Power entered into a Power Purchase Agreement for the US$400m 2x55MW Ijen Geothermal Project in East Java with state-owned electricity utility, PT PLN in Indonesia.
The Project is part of the Indonesian government’s electricity development program (the Fast Track Program II) and holds an important place for the future development of geothermal energy in Indonesia.
The Project is the fourth private-sector financed geothermal project to successfully conclude a PPA with PLN under the Government’s 10,000MW Second Fast Track Program. It demonstrates that both the Indonesian Government and PLN are very keen to see this this programme succeed within its intended timeframe. This proactive approach being adopted by Government is aimed at ensuring that Indonesia’s generation power demands are being met, whilst at the same time assisting the Indonesian Government in achieving its stated target of having 17% of the country’s power generation coming from renewable energy sources by 2025.”
This was reported by Baker & McKenzie, that announced that its member firm in Indonesia, Hadiputranto, Hdinoto & Partners has represented Medco Power on this siginifcant goethermal project in Indonesia.
Source: The Asia Chronicles