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The U.S. DFC has awarded a $126 million loan to Medco Cahaya Geothermal to finance a 31.5 MW geothermal project in East Java, Indonesia.

Author | Carlo Cariaga

Source | thinkgeoenergy

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Project work on Blawan Ijen project site, East Java (source: Medco Energi)

01

PT Medco Secures $126 Million Loan for Geothermal Project in Indonesia

PT Medco Cahaya Geothermal (PT Medco) has been selected by the U.S.-based International Development Finance Corporation (DFC) as one of the companies to receive a loan. Specifically, PT Medco will receive a US$126 million loan to finance the development of a 31.4 MW geothermal power project in East Java, Indonesia.

No specific projects were mentioned in the transaction documents. However, PT Medco is currently working on the Blawan Ijen geothermal field in East Java to develop 2 x 55 MW of power generation capacity under a 35-year concession program from the Ministry of Energy and Mineral Resources (MEMR). The latest major update on the project isExploration work completed in 2022The

Source:TN Global

02

PT Medco secures $126 million loan for geothermal project in Indonesia

PT Medco Cahaya Geothermal (PT Medco) has been selected as one of the firms to be granted loans by the U.S. International Development Finance Corporation (DFC). DFC). More specifically, PT Medco will receive a $126 million loan to finance the development of a 31.4 MW geothermal power project in East Java, Indonesia .

No specific project was mentioned in the transaction documents. However, PT Medco is currently working on the Blawan Ijen geothermal site in East Java under a 35-year concession under the Ministry of Energy and Mineral Resources (MEMR) with the plan to develop 2 x 55 MW of power generation capacity. However, PT Medco is currently working on the Blawan Ijen geothermal site in East Java under a 35-year concession under the Ministry of Energy and Mineral Resources (MEMR) with the plan to develop 2 x 55 MW of power generation capacity. latest major update on the project is the completion of exploration works back in 2022.

Source. TN Global