Geothermal Potencies and Implementation in Indonesia
Date : Tuesday, 4 December 2018
Time : 16.00 – 17.20
Venue : Indonesia Pavilion at COP 24, Zone E, GF Spodek Arena, Katowice, Poland
PT Medco Power Indonesia (”Medco Power”) is a subsidiary of PT Medco Energi Internasional Tbk (“MedcoEnergi”), a private publicly listed company in Indonesia, which focuses in developing and operating power business in Indonesia.
In line with the Vision of MedcoEnergi to become the Energy Company of Choice, Medco Power strives to develop a profitable investment portfolio in power industry using environmental friendly energy, and has adopted MedcoEnergi’s Corporate Values, e.g. to be Professional, Ethical, Open, and Innovative as the Culture of Medco Power. To support the growth of its holding company, Medco Power also up hold the framework of Triple Bottom Line: People – Planet – Profit, which ensure the sustainability growth of power business in MedcoEnergi.
Medco Power began its operation in 2004, and in almost one and half decades, Medco Power has grown to become the leading independent power producer in Indonesia that uses environmental friendly energy, from natural gas, geothermal, and hydro. Coupled with the O&M services, Medco Power currently operate and manage a gross capacity over 3,100 MW.
Medco Power has solid track record in developing power plants. In the past two years, Medco Power has successfully completed four power plants: Sarulla geothermal (330 MW; the largest geothermal power plant in the world in a single contract), Tanjung Uncang gas-fired combined cycle power plant (76 MW) and two mini-hydro power plants (18 MW in total) in West Java.
Medco Power continues to develop clean and renewable energy, highlighted by current development in Riau 330 MW gas-fired power plant, and Ijen 110 MW geothermal in East Java. Recently, Medco Power received IBEA (Indonesia Best Electricity Award) recognition as the Best Clean and Renewable Energy Company in Indonesia.
In years to come, Medco Power is committed to continuously supporting the Government of Indonesia in meeting power demand for the people of Indonesia. Medco Power will also continue to pursue any possible opportunities to grow its power business which utilizing clean and renewable energy. Therefore, Medco Power can support the Government of Indonesia and MedcoEnergi as a group companies in implementing Sustainable Development Goals (“SDGs”).
In order to materialize its committment in developing power plant with new and renewable energy based, full support from the Government of Indonesia in terms of renewable energy tariff, as well as various financial institutions for friendly terms financing are highly essential such as Geothemal Resources Risk Mitigation Project (GREM) developed by World Bank and Government of Indoensia to encourage the exploration program of Geothermal. By having such supports, Medco Power will be able to grow sustainably, continue generating power to the people of Indonesia, and contribute in reducing the impact of climate change.
Environment and Forestry, Indonesia