Alliance of Energy Companies to Buy Chevron’s Geothermal Operations

Chevron on Dec. 23 said that its wholly owned subsidiaries have agreed to sell Chevron’s Indonesian and Philippines geothermal assets to Star Energy Consortium.

“These assets deliver reliable energy to support the needs of Asia-Pacific’s growing economies,” Jay Johnson, executive vice president, Upstream, Chevron, said in a statement. “This sale is aligned with our strategy to maximize the value of our global upstream businesses through effective portfolio management.”

The sale price was not disclosed.

In Indonesia, Chevron subsidiaries operate the Darajat and Salak geothermal fields in West Java.

According to Chevron, two of its subsidiaries operate geothermal projects on the island of Java. Chevron Geothermal Indonesia, Ltd., manages the Darajat geothermal field and Chevron Geothermal Salak, Ltd., operates the Salak geothermal field. The Darajat project supplies geothermal steam to a plant that generates 270 MW of electricity. All power from the Darajat site is sold directly to the national grid. Chevron holds a 95 percent operating interest in Darajat.

Chevron owns the Salak, one of the largest geothermal operations in the world, according to the company. The field supplies steam to a six-unit power plant with a total operating capacity of 377 MW.

In addition, Chevron’s subsidiaries have a 40 percent equity interest in the Philippine Geothermal Production Company, Inc., which operates the the Tiwi geothermal facility in Albay Province and the Mak-Ban geothermal facility in Laguna and Batangas provinces in Southern Luzon, Philippines,

These fields provide steam to the third-party Tiwi and Mak-Ban geothermal power plants, which have a combined generating capacity of 692 MW.

Lead image: The Tiwi Geothermal Field. Credit: Chris Newhall (U.S. Geological Survey) | Wikimedia

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