By Romel S. Gurky
IDX-listed PT Medco Energi Internasional Tbk (IDX: MEDC) said that the Final Investment Decision (FID) for Phase 2 of the Ijen geothermal power plant project in East Java is expected to be made in the first quarter of 2026.
Medco said on Friday that the Phase 2 project will expand the capacity of the Ijen geothermal power plant to 55 MW.
Read also: Ijen geothermal power plant commences commercial operations
The Ijen Phase 1, located in Bondowoso Regency, with a capacity of 34.5 MW, started commercial operations in February 2025. The project is owned by PT Medco Cahaya Geothermal (MCG), a joint venture between Ormat Technologies and PT Medco Power Indonesia, a subsidiary of Medco Energi. The electricity is sold to state-owned electricity firm PT PLN under a 30-year power purchase agreement (PPA).
The Ijen Geothermal Power Plant has a planned total capacity of 110 MW.
Editing by Reiner Simanjuntak
