Philippines-based EDC and Star Energy eying two geothermal projects in Indonesia
With only Philippines-based EDC and Indonesian Star Energy bidding for the two geothermal working areas of Graho Nyabu and Gunung Hamiding in Indonesia, the auctions will have to be repeated.
With only one company bidding for each of the geothermal working areas that were set up for auction by Ministry of Energy and Mineral Resources in Indonesia, both auctions will have to be conducted again.
There was only Philippines-based Energy Development Corp. (EDC) that bid for the 110 MW Graho Nyabu Geothermal Working Area in Jambi. For the 20 MW Gunung Hamiding Geothermal Working Area, only Indonesia-based Star Energy was bidding.
No other company sent in a bid for these concessions, according to Yunus Saefulhak, Director of geothermal services at the Ministry of Energy and Mineral Resources.
According to regulations in Indonesia, the ministry is required to conduct another auction for these project. If there will then be only one bidder again, the company would be appointed directly, so Yunus Saefulhak.
The Ministry expects to reissue the auctions already this month with results to be announced in January
There is a goal to see both projects to start operations in 2024. The investment required for both projects is estimated at around $420 million.
Source: The Jakarta Post