Energy Development Corporation, the Philippines largest geothermal corporation, and local firm Star Energy are in the forefront to snatch two geothermal projects in Indonesia, as the projects drew little interest from other competitors. (Antara Photo/Adwit B Pramono)
EDC Eyes Graho Nyabu Geothermal Project, Star Energy Bid Gunung Hamiding
BY :RETNO AYUNINGTYAS
NOVEMBER 03, 2016
Jakarta. Energy Development Corporation, the Philippines largest geothermal corporation, and local firm Star Energy are in the running to snatch two geothermal projects in Indonesia, after the projects drew little interest from other competitors.
Energy Development Corporation, or EDC, was the sole bidder in last month's auction for the 110-megawatt Graho Nyabu power plant in Jambi, Yunus Saefulhak, director of geothermal services at the Ministry of Energy and Mineral Resources, said on Wednesday (02/11).
Star Energy was also the only company biding for the 20-megawatt Gunung Hamiding power plant in North Maluku. The company is part of tycoon Prajogo Pangestu's Barito Pacific and currently operates the 227 megawatts Wayang Windu geothermal power plant in West Java,
According to regulations, the ministry must conduct another auction for the projects.
"If there's still only one bidder, then [the company] would be directly appointed," Yunus said.
Both projects would cost a total $420 million in investment. Yunus said the second auction would start this month, with the ministry expecting to announce the result in January.
The ministry targets both projects to be operations in 2024.