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Ormat Technologies Inc., a leading geothermal and renewable energy company, has successfully commenced commercial operations (COD) for the 35MW Ijen geothermal power plant. The facility is jointly owned with PT Medco Power Indonesia, through their subsidiary PT Medco Cahaya Geothermal (MCG), with Ormat holding a 17MW share. As the first geothermal power plant in East Java, Indonesia, it supports the country’s goal of adding 7.2 GW of geothermal capacity by 2035. The Ijen Geothermal Power Plant, equipped with an Ormat Energy Converter, has begun its first phase, supplying 35 MW of electricity to the Java grid. This milestone marks a key step in the development of the Ijen Facility, which has a planned total capacity of 110 MW under a 30-year power purchase agreement. MCG, jointly owned by Medco Power (51%) and Ormat Technologies (49%), will oversee operations of the geothermal facility. Doron Blachar, Chief Executive Officer of Ormat Technologies, said, “We are pleased to announce the commencement operations of the Ijen geothermal facility. The launch of the Ijen facility is a key step in our strategy to consistently and accretively grow our leading global geothermal energy portfolio and expand our presence in Indonesia. Indonesia has one of the largest geothermal potentials globally and with the geothermal targets set by the Indonesian government, we plan to expand our operations in the country. Achieving COD at Ijen demonstrates our strong development capabilities and our commitment towards advancing our short and long-term growth targets in our Electricity segment. We look forward to supporting Indonesia’s goal of increasing geothermal deployment and aiding in their efforts to achieve net zero emissions.” |
