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Enel will not bid for geothermal assets of Chevron in Indonesia

Enel will not bid for geothermal assets of Chevron in Indonesia Enel Pavillon at the World Expo 2015 in Milan, Italy (source: Enel Share)
Alexander Richter 4 Nov 2016

Italian Enel has decided not to bid for the geothermal assets of Chevron in Indonesia, naming time constraints and not finding a suitable partner to partner with in a bid.

The sale of the geothermal assets of Chevron Corp. in Indonesia, continues to make news.

Having reported on a variety of players with a planned bid and prequalification, it seem to be mostly groups of companies that are bidding together. This is likely due to the sheer size of the actual investment needed to acquire some of the largest geothermal assets ever being sold. Yesterday we reported that Indonesian PLN has withdrawn a bid for the assets.

As reported now by Reuters, Italian Enel has now decided not to bid. In a statement to Reuters, Francesco Starace, the CEO of Enel, said that his company was simply not able to find a suitable partner in the short time frame required to make a bid.

Source: Reuters