Skip to main content

Ormat and Archi Creates Joint Venture For North Sulawesi Geothermal

Archi and Ormat Join Forces to Unlock North Sulawesi's Geothermal Potential



In an exciting venture that marks a new chapter in Indonesia’s renewable energy landscape, PT Archi Indonesia and Ormat Technologies Inc. have established a joint venture, PT Toka Tindung Geothermal (TTG). This partnership aims to explore and harness geothermal energy in the Bitung area of North Sulawesi, leveraging the geothermal potential around Archi’s Toka Tindung gold mine.


Ormat, a global leader in geothermal energy development, holds a 75% stake in the joint venture, while Archi, a pure-play gold mining company, owns the remaining 25%. This collaboration exemplifies how industries traditionally associated with mining and fossil fuels are now shifting towards sustainable energy practices. As part of the agreement, Ormat will spearhead exploration activities, focusing on the Klabat Wineru geothermal prospect. Once the geothermal potential is confirmed, Ormat will also oversee the design, engineering, and construction of geothermal facilities, ensuring the project meets international standards in renewable energy development.


This partnership aligns with the Indonesian government's push to expand its renewable energy capacity, with geothermal energy playing a crucial role in meeting the country's ambitious targets. Indonesia boasts some of the world’s largest geothermal resources, and tapping into these can significantly reduce reliance on fossil fuels while delivering cleaner, more reliable energy to local communities.


Ken Crichton, President-Director of Archi, expressed pride in contributing to Indonesia’s renewable energy initiatives, emphasizing that this move supports Archi’s commitment to environmental sustainability. Ormat’s CEO, Doron Blachar, echoed this sentiment, highlighting that this is Ormat’s third venture in Indonesia, further strengthening its foothold in one of the world's most geothermal-rich nations.


As Indonesia continues its journey towards renewable energy dominance, the Archi-Ormat joint venture stands as a beacon of how diverse industries can come together to power a greener future .

Source: Alphaxioms Email Correspondence

Connect With Us 

Comments

Post a Comment

Popular posts from this blog

Pertamina Geothermal Energy,GDC and AGIL to develop 200 MW Suswa ,Narok Geothermal Field

Pertamina Geothermal Energy, GDC, and AGIL Agree to Accelerate Development of 2 Geothermal Fields in Kenya By: Robert Buluma Nairobi, Kenya, March 8, 2024 – PT Pertamina Geothermal Energy Tbk (PGE) has reached an agreement with Kenya's geothermal development companies, Geothermal Development Company Ltd. (GDC), and Africa Geothermal International Ltd. (AGIL), to expedite the development of geothermal fields in the African nation. Exploration of two geothermal fields in Kenya, developed by PGE along with its partners, is expected to commence in 2024. In high-level discussions held at GDC's headquarters in Nairobi on Wednesday (3/6/2024), PGE and GDC discussed the support from the Kenyan government in accelerating the geothermal field development project in Suswa, a volcanic area located in Narok, Kenya. GDC is a government-owned geothermal developer in Kenya. The PGE delegation, led by President Director Julfi Hadi and accompanied by PGE's Director of Exploration and Develop
Post a Comment
Read more

Polands Geothermal Wells hits 5km depth Eyeing a 7Km Threshold

Geothermal Milestone Reached: Banska PGP-4 Well in Szaflary, Poland Hits 5-Kilometer Depth By : Robert Buluma In a significant development for geothermal energy enthusiasts, drilling operations at the Banska PGP-4 well in Szaflary, Poland have reached a depth of 5 kilometers, marking a major milestone in the project's progress towards its 7-kilometer target. Since its inception, the ambitious geothermal drilling project in Szaflary has been making steady strides. As of the end of 2023, the well has successfully reached a depth of 5000 meters, uncovering promising results along the way. Notably, the well has tapped into a sizable reservoir boasting temperatures of 120 °C. The drilling will persist until it reaches the targeted depth of 7000 meters, where another aquifer is anticipated. The entire drilling endeavor is slated for completion within the first quarter of 2024. Initiated in 2019, the plans to drill a 7-kilometer geothermal well in Podhale, Szaflary aimed at gathering cruc
Post a Comment
Read more

Eavor Goes Deeper in Geretesried In Search For Geothermal

Revolutionizing Energy Production: The Birth of Eavor Technology in Geretesried By: Robert Buluma In the picturesque town of Geretesried, nestled in the heart of Germany, a groundbreaking project is underway that promises to reshape the future of energy production as we know it. Welcome to the world of Eavor Technology – where innovation meets sustainability in a bid to tackle the pressing challenges of climate change and energy security. Imagine a technology that harnesses the Earth's natural heat to generate both electricity and warmth without emitting harmful greenhouse gases. Sounds like science fiction? Well, it's not. Thanks to the relentless efforts of visionaries and engineers, the world's first Eavor loop for heat and electricity is currently under construction right here in Geretesried. At the forefront of this remarkable endeavor is the ambitious drilling project that has reached an astonishing depth of 7000 meters beneath the Earth's surface. Achieving such
Post a Comment
Read more