Indonesia’s Pertamina Geothermal explores partnership with Kenyan firms
PERTAMINA Geothermal Energy (PGE), a unit of Indonesian state energy firm Pertamina, has signed initial agreements with two Kenyan companies to explore partnerships in geothermal power projects, Indonesia’s foreign minister said.
PGE signed a memorandum of understanding (MoU) with Geothermal Development Company to explore a partnership that could be worth US$1.5 billion, and a separate MoU with Africa Geothermal International (AGIL) for a potentially US$700 million deal, Retno Marsudi said.
The deals were signed on the sidelines of President Joko Widodo’s visit to Kenya.
“This kind of cooperation is very important to pave the way for other energy cooperation, including in the upstream oil and gas sector and new and renewable energy,” Retno said in a video statement late on Monday (Aug 21).
PGE on Tuesday said its agreement with AGIL is aimed at development in the Longonot concession in Kenya which could yield up to 500 megawatts (MW) of geothermal power, of which 140 MW is ready to be exploited.
PGE parent Pertamina also signed an MoU to explore partnership potential with the National Oil Corporation of Kenya during the same trip. REUTERS
A NEWSLETTER FOR YOU
Asean Business
Business insights centering on South-east Asia's fast-growing economies.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected
Indonesia central bank says SRBI auction will be held twice a week to attract more inflow
Thai police raid illegal bitcoin mining operation
Thailand’s April inflation rises slightly, first time in 7 months
Myanmar junta bans men from applying to work abroad: statement