GreenFire Energy Inc., a geothermal energy development company based in the US, and PT Medco Power Indonesia have inked an agreement to collaborate on future geothermal projects to meet the Indonesian government’s Net Zero Emissions target of 2060. GreenFire Energy will provide its GreenLoop technology and business model to help speed up geothermal projects. PT Medco Power Indonesia will provide geothermal project prospects, as well as geothermal exploration and drilling services.
PT Medco Power Indonesia, a subsidiary of PT Medco Energi Internasional Tbk, owns and operates power plants with a total capacity of more than 3.1 GW in 15 sites around Indonesia. With its extensive exploration and drilling expertise, the firm is dedicated to executing Indonesia’s energy transformation program and aggressively developing geothermal power generation in Indonesia. PT Medco Power Indonesia is currently developing the Ijen Geothermal project in East Java and PV plant projects in West and East Bali.
GreenLoop is a flexible, closed-loop Advanced Geothermal System (AGS) created by GreenFire Energy. GreenLoop can economically access the whole geothermal spectrum and specific oil and gas deposits that conventional geothermal technology cannot. The technique enables new and existing operators and developers to retrofit idle wells, extend existing fields with new wells, and swiftly and affordably de-risk the development of new geothermal resources. GreenLoop may be carefully adjusted for maximum power output and techno-economic viability. In Indonesia, GreenFire Energy is represented by PT Armada Energi Solusi.
(Source: GreenFire Energy)