Ormat Technologies, Inc., a leading geothermal and renewable energy company, has been awarded the Telaga Ranu Geothermal Working Area by the Government of Indonesia under the authority of the Ministry of Energy and Mineral Resources. The concession was awarded following a competitive tender process involving four qualified bidders and secures Ormat’s long-term rights to explore and develop the geothermal resource. This award strengthens Ormat’s development pipeline and supports the company’s long-term growth strategy in Indonesia.
The Telaga Ranu project is located in Halmahera, North Maluku, within Indonesia’s highest approved feed-in tariff zone, and is part of the Government of Indonesia’s energy transition programme. The concession has the potential to support up to 40 MW of baseload geothermal energy, as reflected in PT PLN (Persero)’s Electricity Supply Plan (RUPTL). Development of the site by the end of 2030 would support Indonesia’s efforts to replace diesel-based power generation with reliable renewable energy, advancing the country’s decarbonisation and renewable energy objectives while strengthening energy security and supporting economic growth in the region.
“The award of the Telaga Ranu geothermal concession represents a significant step in strengthening our development pipeline and highlights our confidence in Indonesia’s long-term geothermal potential,” said Doron Blachar, CEO of Ormat Technologies Inc. “Ormat is well positioned to apply our proven exploration and development capabilities as we move forward in the region. We believe this site has the potential to add up to 40 MW to our exploration pipeline, bringing the total to approximately 200 MW, in addition to the 59 MW associated with our operating asset. We appreciate the trust placed in us by the Government of Indonesia through this tender process and look forward to working closely with our stakeholders to responsibly develop this resource and contribute to the country’s clean energy transition.”
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