Geothermal in Indonesia
Medco Power Indonesia through its 100% owned subsidiary PT. Medco Cahaya Geothermal (“MCG”) is developing the 110 MW Blawan Ijen Geothermal Power Plant in Blawan Ijen, East Java, Indonesia. MCG is entitled for 35-year Geothermal Concession under Decree from Ministry of Energy and Mineral Resources (“MEMR”) (IPB No. 2683 K/30/MEMR/2015).
Subsequently, in February 2013 MCG has signed PPA (Power Purchase Agreement) with PT. PLN Persero (Indonesian State-owned Power Company) for a 30 years contract. As stated in PPA, the COD (Commercial Operation Date) is expected in 2024. The project will have 2 x 55 Megawatt (MW) power generation and approximately 28 km transmission line to the nearest substation (Banyuwangi Substation).