GreenFire Power Inc. and PT Medco Energy Indonesia have signed a memorandum of understanding (MOU) to cooperate on future geothermal tasks to attain the Indonesian authorities’s web zero Emissions by 2060. GreenFire Power will present its GreenFire’s GreenLoopTM know-how and enterprise mannequin to speed up geothermal tasks. PT Medco Energy Indonesia will present geothermal challenge alternatives, geothermal exploration companies, and drilling companies.
PT Medco Energy Indonesia, a subsidiary of PT Medco Energi Internasional Tbk, owns and operates energy vegetation with gross capability over 3.1 GW in 15 areas in Indonesia. The corporate is targeted on implementing Indonesia’s vitality transformation coverage and is presently creating the Ijen Geothermal challenge in East Java and photovoltaics (PV) plant tasks 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 complete spectrum of geothermal and sure oil and gasoline assets that typical geothermal know-how can not. The know-how permits new and current operators and builders to retrofit idle wells, to broaden current fields with new wells, and de-risk the event of recent geothermal assets shortly and economically. GreenLoop may be exactly tailor-made for optimum energy era and techno-economic feasibility. GreenFire Power is represented by PT Armada Energi Solusi in Indonesia.
“As a clear and renewable vitality firm in Indonesia, the signing of this MOU helps our local weather change technique to broaden our renewable portfolio and obtain web zero emissions for Scope 1, Scope 2 by 2050, and Scope 3 in 2060, consistent with the federal government’s vitality transition program,” commented Eka Satria, President Director of PT Medco Energy Indonesia.
“GreenFire’s GreenLoopTM know-how is a superb match for Indonesia’s geothermal assets. Our skill to tailor options for properly retrofits, discipline expansions, and develop new assets will result in profitable deployments. PT Medco Energy Indonesia tasks are a excessive precedence for GreenFire Power and we sit up for working collectively,” mentioned Joseph Scherer, CEO, GreenFire Power Inc.
“PT Armada Energi Solusi companions with GreenFire Power for probably the most revolutionary applied sciences and companies to fast-track geothermal tasks in Indonesia. We’re able to work with PT Medco Energy Indonesia to develop tasks shortly and ship sturdy economics with GreenLoop know-how,” added Iwan Chandra, President Director, PT Armada Energi Solusi.
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