Thai oil firm looking at geothermal investment in Indonesia
Bangchak Petroleum Plc from Thailand wants to move into the geothermal and renewable energy business.
Thai oil company Bangchak Petroleum Plc (BCP) recently announced that it wants to invest in renewables, namely geothermal and solar projects. The company wants to diversify its operation and therefore is taking an interest in expanding its renewable portfolio.
According to the Bangkok Post, “The move is part of its goal to raise revenue from renewable energy business and reduce its reliance on oil refining as oil prices remain weak. The SET-listed oil refiner and retailer is mulling investment in a geothermal power plant in Indonesia with an initial capacity of 60 MW.”
The firm is also conducting feasibility studies to develop a small scale geothermal plant (between 1 and 2 MW) in the Tak province, making it potentially the first in Thailand.
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Source: Bangkok Post