Companies chosen for final round in bid for Chevron Indonesian geothermal assets

The ongoing sale of the geothermal assets of Chevron in Indonesia and the Philippines continues and is now entering the 5th phase. As now reported there are 6 companies that have passed the binding bid for the company’s assets in Indonesia. In the next phase there will be concrete sales and purchase negotiations between Chevron Indonesia and potential bidders starting in November.

This was announced by Indonesia’s Directorate General for New, Renewable and Energy Conservation (EBTKE) at the Energy and Mineral Resources Ministry (ESDM).

We reported about a large group of companies before, but the list now presented only shows companies bidding for the Indonesian assets.

The companies/ groups are:

• Marubeni Corporation,
• Star Energy,
• Mitsui&Co Ltd,
• Medco Energi,
• PT Pertamina and
• PT Perusahaan Listrik Negara (PLN).

The companies were chosen out of a total of 44 companies that showed interest in acquiring those assets.

According to Yunus Saeefulhak, Director for Geothermal at the EBTKE, “the final decision for the transaction is targeted to be completed in December 2016”.

Chevron operates two geothermal assets in Indonesia, namely WKP Darajat with power capacity of 240 MW and WKP Gunung Salak with capacity of 370 MW. Both geothermal assets are located in West Java.

Chevron holds 95 percent interest in the two geothermal assets respectively. In addition, Chevron operates three geothermal power plants (PLTP) with estimated value of US$3 billion.

Source: Rambu Energy