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Run for geothermal assets of Chevron in Asia going into next round

Chevron booth at Indonesian International Geothermal Conference 2015 (source: ThinkGeoEnergy, creative commons)
Alexander Richter 16 Sep 2016

Reported today from Bloomberg, invitations for a second-round bid for the geothermal assets of Chevron in Asia are just to be announced. There is also a surprising new company named with interest and that is China General Nuclear Power Corp.

In an update on the sales process for the geothermal assets of Chevron in Asia, Bloomberg today reports about a call for second-round bids this month (September 2016).

One of the companies having been invited is – according to Bloomberg – China General Nuclear Power Corp., China’s biggest nuclear power operator. The overall value of the assets and the sales process is reported at $3 billion.

Earlier this week, we reported on Aboitiz Power and Marubeni Corp from Japan being in a partnership, that now Indonesian PT Medco Power is looking to join this also short-listed consortium. Aboitiz Power and PT Medco Power announced in 2015 to cooperate on geothermal development in Indonesia.

There are though no further details available from the sales process being lead by Citigroup Inc., on behalf of Chevron.

It is unclear what other companies actually sent in a formal bid and were now shortlisted for the second-round in the bidding for those assets.

Companies that were reported to have shown interest were sovereign fund China Investment Corp., Malaysia’s power producer Malakoff Corp., Japan’s Mitsubishi Corp. and Ormat Technologies Inc., as we reported in April 2016.

Source: Bloomberg