By Danessa Rivera (The
Philippine Star) | Updated January 17, 2016 - 12:00am
MANILA, Philippines – Aboitiz Power
Corp. and its partner will complete drilling activities in a geothermal
resource in Indonesia by next month.
AboitizPower’s partner PT Medco
Power Indonesia was in resource validation and exploration stage when both
entered into an agreement to jointly develop the project.
“We have a disclosure we’re looking
at a project there... We’re drilling slimholes. We don’t have the results yet.
Hopefully by next month we should have something,” AboitizPower CEO Erramon I.
Aboitiz said.
Indonesia is AboitizPower’s first
foray overseas.
Its wholly-owned Singapore-based
subsidiary AboitizPower International Pte. Ltd. teamed up with PT MEdco Power
Indonesia last September to explore and develop a potential 2 x 55-megawatt
greenfield geothermal plant in East Java province.
The project is under PT Medco
Power’s subsidiary PT Medco Cahaya Geothermal, which was awarded the concession
to develop the project.
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