Medco Energy and SMI eye financing for geothermal projects in exploration phase

One of the projects to benefit is Medco Power’s exploration of Blawan, Ijen.

PT Medco Energi Internasional subsidiary PT Medco Power Indonesia inked a memorandum of understanding (MOU) with PT Sarana Multi Infrastruktur (SMI) to develop financing for geothermal projects in the exploration phase, Dunia Energi reports.

Medco Power and SMI agreed to exchange information on business and programmes that could support the development of geothermal project financing conducted by Medco Power, which is exploring Blawan, Ijen.

The two companies will also work together to seek financing for geothermal exploration development projects by private electricity companies in Indonesia. SMI is prioritising assistance for environmentally friendly infrastructure projects.

"This is in line with Medco Power's vision to become an environmentally friendly IPP company and reliable O & M service provider with a mission to build and operate IPPs fueled by natural gas, geothermal and other renewable energy such as solar power and gas infrastructure," said Medco Power president director Eka Satria.