GreenFire Vitality 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 Web Zero Emissions by 2060. GreenFire Vitality will present its GreenFire’s GreenLoop™ know-how (GreenLoop) and enterprise mannequin to speed up geothermal initiatives. PT Medco Energy Indonesia will present geothermal challenge alternatives, geothermal exploration providers, and drilling providers. The MOU was signed at INDO EBTKE ConEx on July 13, 2023.
PT Medco Energy Indonesia, one of many main Impartial Energy Producers and 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 actively selling geothermal energy technology in Indonesia with its wealthy exploration and drilling expertise. Presently PT Medco Energy Indonesia is creating the Ijen Geothermal challenge in East Java and PV plant initiatives in West and East Bali.
GreenFire Vitality has developed a flexible, closed-loop Superior Geothermal System (AGS) referred to as GreenLoop. GreenLoop can economically entry the complete spectrum of geothermal and sure oil and fuel sources that standard geothermal know-how can’t. The know-how allows new and present operators and builders to retrofit idle wells, to increase present fields with new wells, and de-risk the event of latest geothermal sources shortly and economically. GreenLoop may be exactly tailor-made for optimum energy technology and techno-economic feasibility. GreenFire Vitality is represented by PT Armada Energi Solusi in Indonesia.
President Director of PT Medco Energy Indonesia, Eka Satria mentioned, “As a number one clear and renewable vitality firm in Indonesia, the signing of this MOU helps our local weather change technique to increase our renewable portfolio and obtain Web Zero Emissions for Scope 1, Scope 2 by 2050 and Scope 3 in 2060, according to the federal government’s vitality transition program.”
“GreenFire’s GreenLoop™ know-how is a superb match for Indonesia’s geothermal sources. Our capacity to tailor options for effectively retrofits, subject expansions, and develop new sources will result in profitable deployments. PT Medco Energy Indonesia initiatives are a excessive precedence for GreenFire Vitality and we look ahead to working collectively,” mentioned Joseph Scherer, chief govt officer, GreenFire Vitality Inc.
“PT Armada Energi Solusi companions with GreenFire Vitality for essentially the most revolutionary applied sciences and providers to fast-track geothermal initiatives in Indonesia. We’re able to work with PT Medco Energy Indonesia to develop initiatives shortly and ship robust economics with GreenLoop know-how,” mentioned Iwan Chandra, president director, PT Armada Energi Solusi.
About GreenFire Vitality® Inc.
San Francisco-based GreenFire Vitality is dedicated to accelerating the technology of fresh, steady, dependable geothermal vitality. The agency’s strategy contains GreenFire’s GreenLoop™ closed-loop know-how, a flexible Superior Geothermal System (AGS); wealthy world geothermal experience, each in-house and with industry-recognized companions; and, collaboration with the world’s largest geothermal working corporations to ship geothermal vitality quickly and economically. Go to us at www.greenfireenergy.com.
About PT Medco Energy Indonesia
PT Medco Energy Indonesia (“Medco Energy”) is a subsidiary of PT Medco Energi Internasional Tbk (“MedcoEnergi”) and a number one Southeast Asian vitality and pure sources firm listed on the Indonesia Inventory Alternate (MEDC-IDX). MedcoEnergi has three key enterprise segments, Oil & Gasoline, Clear Energy and Copper Mining. MedcoEnergi explores for and produces oil and fuel primarily in Indonesia and is increasing its presence in Southeast Asia. The Group operates fuel, geothermal and hydro energy vegetation in Indonesia by means of Medco Energy and a non-consolidated curiosity in Amman Mineral Nusa Tenggara which operates a big Indonesian copper and gold mine.
About PT Armada Energi Solusi
PT Armada Energi Solusi (Armada) is an vitality know-how and providers firm with deep experience in geothermal growth and oil and fuel initiatives. Armada has the technical geothermal expertise and relationships to establish and execute geothermal alternatives in Indonesia. With in depth entry to assist providers and networks, Armada has the power to handle the supply of GreenFire Vitality initiatives in Indonesia.
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