Blawan Ijen Geothermal Power Plant - Phase I

active

This project entails the development of the first phase of the Blawan ljen Geothermal Power Plant, which involves production, injection wells, and associated ancillary facilities to support the 31.4 MW powerhouse in Blawan Ijen, Bondowoso East Java, Indonesia. A financing of $126 million loan has been provided by the U.S. International Development Finance Corporation (DFC) to the project company - PT Medco Cahaya Geothermal. It has been is entitled for 35-year Geothermal Concession and 30-year PPA (Power Purchase Agreement) contract. Sponsor of the project is Medco Power Indonesia, owned by MedcoEnergi (49%) and Saratoga Power (51%). Financial close took place on December 6, 2023. https://www.dfc.gov/media/press-releases/dfc-approves-17-transactions-totaling-more-33-billion-q1-fy2024 https://medcopower.co.id/project/medco-cahaya-geothermal/ https://www3.dfc.gov/environment/eia/ijen/Initial_Project_Summary.pdf https://www.dfc.gov/sites/default/files/media/documents/BDR%2824%2911%20-%20PT%20Medco.pdf