{"id":18900,"date":"2024-05-24T03:02:23","date_gmt":"2024-05-24T03:02:23","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/us-commits-126-million-for-ijen-geothermal-project-in-east-java-indonesia\/"},"modified":"2024-05-24T03:02:23","modified_gmt":"2024-05-24T03:02:23","slug":"us-commits-126-million-for-ijen-geothermal-project-in-east-java-indonesia","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/us-commits-126-million-for-ijen-geothermal-project-in-east-java-indonesia\/","title":{"rendered":"US commits $126 million for Ijen geothermal project in East Java, Indonesia"},"content":{"rendered":"
\n

The U.S. International Development Finance Corporation<\/a> (DFC) has announced a new DFC commitment of up to $126 million for Indonesian geothermal developer PT Medco Cahaya Geothermal (MCG) to support the 31-MW Phase 1 development of the Ijen geothermal project in East Java.<\/p>\n

The DFC commitment for the company is in cooperation with Indonesian infrastructure bank\u00a0PT Sarana Multi Infrastruktur<\/a> (Persero)(SMI), with which MCG has signed a financing agreement last year<\/a>.<\/p>\n

A ceremonial commitment signing was held in Jakarta between Nisha Biswal, Deputy Chief Executive Officer of the DFC and representatives from PT Medco Power Indonesia and Ormat Technologies Inc. MCG is jointly owned by\u00a0Medco Power<\/a>\u00a0(51%) and\u00a0Ormat Technologies<\/a>\u00a0 (49%).<\/p>\n

The project represents the latest example of Indonesia\u2019s engagement with the U.S. Government across several critical sectors, including financing for infrastructure and renewable energy. \u201cThe Ijen Geothermal power plant is a key part of Indonesia\u2019s ambitious strategy for an energy transition,\u201d<\/em> said Nisha Biswal.<\/p>\n

\u201cThis project also reinforces our shared goals through the U.S.-Indonesia Comprehensive Strategic Partnership, which will enhance economic and energy security for both of our countries.\u201d<\/em><\/p>\n

In late 2022,\u00a0MCG announced receiving approva<\/a>l from the Ministry of Energy and Mineral Resources (MEMR) to drill four exploration wells, two reinjection wells, and one make-up well on the Ijen site. This follows the results of an exploration survey done by MCG that was concluded earlier in 2022<\/a>.<\/p>\n

Source: US International Development Finance Corporation<\/a><\/p>\n

The post US commits $126 million for Ijen geothermal project in East Java, Indonesia<\/a> first appeared on ThinkGeoEnergy – Geothermal Energy News<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

The US International Development Finance Corporation has committed $126 million funding to Medco Cahaya Geothermal for the Ijen geothermal project in Indonesia.<\/p>\n

The post US commits $126 million for Ijen geothermal project in East Java, Indonesia<\/a> first appeared on ThinkGeoEnergy – Geothermal Energy News<\/a>.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[18039,15228,1089,4467,168,14670,14669,18037,815,18038,1125,2134,7490],"class_list":["post-18900","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-18039","tag-commits","tag-east","tag-energy","tag-for","tag-geo","tag-geothermal","tag-ijen","tag-indonesia","tag-java","tag-million","tag-project","tag-think"],"yoast_head":"\nUS commits $126 million for Ijen geothermal project in East Java, Indonesia - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/us-commits-126-million-for-ijen-geothermal-project-in-east-java-indonesia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US commits $126 million for Ijen geothermal project in East Java, Indonesia - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"The US International Development Finance Corporation has committed $126 million funding to Medco Cahaya Geothermal for the Ijen geothermal project in Indonesia. 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