- Ormat Technologies ( NYSE: ORA ) and PT Medco Power Indonesia have secured a financing deal with PT Sarana Multi Infrastruktur to support the development of Ijen Geothermal Power Plant in East Java, Indonesia.
- Medco Cahaya Geothermal, a jointly-owned company between Medco Power (51% equity share) and Ormat Technologies (49% equity share), will develop and operate the first geothermal power plant in East Java.
- The Ijen power plant will be developed in stages with the first phase of development expected to generate 34MW in 2025.
- Ormat ( ORA ) also signed a contract as a key contractor on OEC supply for this project.
For further details see:
Ormat secures financing for Ijen geothermal power plant