PT Medco Energi Indonesia Secures $28 Million to Support Geothermal Project in East Java, an Industrial Info Market Brief

According to Think GeoEnergy, PT Medco Energi Indonesia reached a financial agreement with Bank BNI Syariah in late September; BNI Syariah will disburse IDR$400 billion (about US$28 million) for working capital.

The financing is intended to support PT Medco Energi Indonesia's 110-megawatt Ijen geothermal power plant in East Java, which has an operating target of 2023. The plant will be built by PT Medco Energi through its subsidiary, Medco Cahaya Geothermal, and its partner, Ormat Geothermal.