PT Medco and TOYO sign partnership for joint geothermal studies in Indonesia
Signing of MOU between PT Medco Power and Toyo Engineering (source: Toyo Engineering)
Carlo Cariaga
20 Feb 2024
PT Medco has partnered with Japanese firm Toyo Engineering for joint studies on geothermal development opportunities in Indonesia.
Toyo Engineering Co. Ltd. (TOYO) has signed a Memorandum of Understanding with PT Medco Power Indonesia (MPI) for a joint study on opportunities for geothermal development in Indonesia.
TOYO plans to promote initiatives to realize a “carbon-neutral park” that maximizes the potential of geothermal energy, thus contributing to the realization of a sustainable economic development.
TOYU thru local subsidiary Inti Karya Persada Tehnik (IKPT) has been involved in several geothermal projects in Indonesia in the past years. For instance, the company was the EPC contractor for the FCRS and power plant of the 55-MW Lumut Balai Unit 1 project, as well as similar facilities at the Ulubelu project.
With their past experience, TOYO is working on new fields and is aiming for a position as a new technology integrator in the field of geothermal. The firm aims to address the challenges in geothermal using closed loop technologies and optical fiber monitoring.
PT Medco had recently secured a $126 million loan to finance the development of a 31.4-MW geothermal power project in East Java.
