Plum Acquisition Corp. IV and Controlled Thermal Resources Outline a Large-Scale Geothermal and Critical Minerals Platform Plum Acquisition Corp. IV (“Plum IV”) and Controlled Thermal Resources Holdings Inc. (“CTR”) are moving toward a proposed business combination that would create a public company focused on one of the most ambitious geothermal and critical minerals developments in the United States. The combined entity is expected to trade on Nasdaq under the pro forma ticker CTRH, reflecting a platform built around clean baseload power, lithium recovery, and broader critical minerals production. The investor presentation dated August 2026 frames the transaction around CTR’s Hell’s Kitchen project in Imperial County, California, which is presented as a strategically positioned resource opportunity with energy, minerals, infrastructure, and permitting advantages. At the center of the presentation is a clear message: this is not just a power project, and it is not j...
Geothermal Exploration Opportunities in Central Sulawesi: The Bora Pulu Area
By: Robert Buluma
The Ministry of Energy and Mineral Resources ESDM has recently announced the opening of a tender for a geothermal exploration area in the Bora Pulu region, located in Sigi Regency and Palu City, Central Sulawesi. This is a significant opportunity for business entities engaged in the geothermal sector, offering a potential 52 MWe of geothermal reserves over an extensive area of 78,388 hectares.
The Bora Pulu Geothermal WPSPE
The geothermal Preliminary Survey and Exploration Assignment Area (WPSPE) named Bora Pulu represents a promising site for energy developers. The area is strategically located in Central Sulawesi, a region known for its geothermal potential. With possible reserves estimated at 52 MWe, this project could be a significant contributor to Indonesia's renewable energy goal
Who Can Participate?
The tender is open to business entities with experience in geothermal energy, upstream oil and gas, mineral/coal mining, or power generation sectors. To participate, interested entities must submit a complete application including administrative, technical, and financial documents. Key administrative requirements include a copy of the business entity's establishment deed, taxpayer identification numbers, company profiles, and a statement confirming the company's legal standing.
The Bidding Process
The process for the Bora Pulu WPSPE tender is straightforward, yet rigorous, adhering to the provisions set out in the geothermal sector's legal framework. Interested entities are required to register for the bidding process by submitting their forms between August 5, 2024, and September 4, 2024. The submission can be made in person at the Geothermal PSPE Selection Committee Secretariat in Central Jakarta or by a representative with a power of attorney.
The successful bidder will have the opportunity to conduct geothermal exploration in the Bora Pulu area, with the expectation of entering into a Pre-Transaction Agreement (PTA) with PT PLN (Persero) once exploration is complete and the necessary permits are obtained.
A Step Forward for Indonesia's Geothermal Ambitions
The Bora Pulu geothermal project is part of Indonesia's broader strategy to harness its vast geothermal potential, contributing to the country's renewable energy targets. As one of the world's top geothermal-rich countries, Indonesia's focus on geothermal development is not only crucial for energy diversification but also for reducing its carbon footprint.
Indonesia could be the Next Geothermal magnet as we recently did article on Developments of the 46 MW Nage Geothermal and within a blink of an eye we were hot With Geothermal when Chubu Electric is Keen on banking on the Indonesian Geothermal cake
This tender represents a critical step in unlocking the geothermal resources in Central Sulawesi, paving the way for future energy security and sustainability in the region. As the world shifts towards cleaner energy sources, projects like Bora Pulu underscore Indonesia's commitment to leading the charge in geothermal energy development.
For more detailed information and to participate in the bidding process, interested parties can visit the official EBTKE website, where all relevant documents and forms are available for download here : Port 1, Port 2 ,Port 3
This geothermal initiative in Bora Pulu is an exciting opportunity for those in the renewable energy sector, and its success could set a precedent for further geothermal exploration across Indonesia.
Source:ebtke.esdmwesi
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