PT Medco Energy Indonesia has signed an MOU with GreenFire Power that may see the 2 firms collectively discover geothermal alternatives in Indonesia.
GreenFire Power Inc. and PT Medco Energy Indonesia have signed a memorandum of understanding (MOU) to cooperate on future geothermal initiatives to attain the Indonesian Authorities’s Internet Zero Emissions by 2060.
GreenFire Power will present its GreenFire’s GreenLoop™ expertise (GreenLoop) and enterprise mannequin to speed up geothermal initiatives. PT Medco Energy Indonesia will present geothermal undertaking alternatives, geothermal exploration companies, and drilling companies. The MOU was signed at INDO EBTKE ConEx on July 13, 2023.
PT Medco Energy Indonesia, one of many main Unbiased Energy Producers and a subsidiary of PT Medco Energi Internasional Tbk, owns and operates energy crops with gross capability over 3.1 GW in 15 areas in Indonesia. The corporate is targeted on implementing Indonesia’s power transformation coverage and actively selling geothermal energy era in Indonesia with its wealthy exploration and drilling expertise. Presently PT Medco Energy Indonesia is creating the Ijen Geothermal undertaking in East Java and PV plant initiatives in West and East Bali.
GreenFire Power has developed a flexible, closed-loop Superior Geothermal System (AGS) known as GreenLoop. GreenLoop can economically entry the whole spectrum of geothermal and sure oil and gasoline sources that standard geothermal expertise can’t. The expertise allows new and current operators and builders to retrofit idle wells, to develop current fields with new wells, and de-risk the event of latest geothermal sources rapidly and economically. GreenLoop could be exactly tailor-made for optimum energy era and techno-economic feasibility. GreenFire Power is represented by PT Armada Energi Solusi in Indonesia.
President Director of PT Medco Energy Indonesia, Eka Satria stated, “As a number one clear and renewable power firm in Indonesia, the signing of this MOU helps our local weather change technique to develop our renewable portfolio and obtain Internet Zero Emissions for Scope 1, Scope 2 by 2050 and Scope 3 in 2060, in keeping with the federal government’s power transition program.”
“GreenFire’s GreenLoop™ expertise is a superb match for Indonesia’s geothermal sources. Our capability to tailor options for nicely retrofits, subject expansions, and develop new sources will result in profitable deployments. PT Medco Energy Indonesia initiatives are a excessive precedence for GreenFire Power and we stay up for working collectively,” stated Joseph Scherer, chief government officer, GreenFire Power Inc.
“PT Armada Energi Solusi companions with GreenFire Power for probably the most modern applied sciences and companies to fast-track geothermal initiatives in Indonesia. We’re able to work with PT Medco Energy Indonesia to develop initiatives rapidly and ship sturdy economics with GreenLoop expertise,” stated Iwan Chandra, president director, PT Armada Energi Solusi.
Supply: E mail correspondence