Toka Tindung geothermal project in Sulawesi, Indonesia targeting 2029 COD
The Toka Tindung Gold Mine in North Sulawesi, Indonesia (source: PT Archi Indonesia)
Carlo Cariaga
5 Jun 2026
PT Toka Tindung Geothermal, a joint venture between Ormat and ARCI, is targeting commercial operations of the Toka TIndung geothermal project by 2029.
Indonesia mining company PT Archi Indonesia (ARCI) is targeting a commercial operations date (COD) by 2029 for the Toka Tindung geothermal project, located in North Sulawesi. The long-term target was stated by ARCI Investor Relation Officer Frederic during a public presentation.
The Toka Tindung geothermal project is being developed by PT Toka Tindung Geothermal (TTG), a joint venture between PT Ormat Geothermal Indonesia (95%) and ARCI (5%). The business permit for the joint venture was granted in 2025. The project partners are envisioning a 40-MW development.
ARCI Corporate Secretary Hidayat Dwiputro Sulaksono had previously stated the joint venture encompasses all aspects of project development including exploration drilling and design to procurement, financing, construction, testing, commissioning, and management and maintenance.
According to Frederic, the company is targeting to start exploration by 2026. Moreover, the company is not considering adding new stakeholders at this point, thus the costs of the exploration activities will come from internal funds.
The partnership between ARCI 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: MSN.com
