Joint venture granted geothermal permit for Toka Tindung, North Sulawesi Indonesia
PT Toka Tindung Geothermal has been granted the Geothermal Business Permit for the Bitung site in North Sulawesi, Indonesia, with a target 40-MW development.
A Geothermal Business Permit (Izin Usaha Pertambangan Panas Bumi / IPB) has been granted for the Toka Tindung concession area in Bitung, North Sulawesi, Indonesia, to PT Toka Tindung Geothermal (TTG), a joint venture between PT Ormat Geothermal Indonesia and mining company PT Archi Indonesia (ARCI). The joint venture company is looking towards a 40-MW geothermal power development.
TTG will now target to obtain an environmental permit, as well as conduct further exploration to confirm the size and temperature of the geothermal resource.
ARCI Finance Director Hidayat Dwiputro Sulaksono stated that the company continues to coordinate with project partner PT Ormat Geothermal Indonesia for budget preparation and project development plans. However, the company continues to focus its finances to support its underground mining business, as there is still plenty of potential for exploration and development.
The partnership between TTG and Ormat was first announced in 2021. Based on the original framework, Ormat will be executing the exploration drilling program and developing the field drilling program, as well as the design, engineering, construction, commissioning, operations, and management of the geothermal facilities. Another update on the evaluation process of the geothermal resources was reported in 2023, with Ormat leading the resource evaluation work.
Source: Bisnis.com
