JAKARTA, INDONESIA: Greenearth Energy has established a geothermal exploration and development entity based in Jakarta, Indonesia with the aim of establishing a suite of geothermal exploration and development opportunities in the country.
According to Greenearth, significant geothermal project opportunities exist in the Pacific Ocean's "Ring of Fire", and the establishment of an entity in Indonesia will provide the company with a unique opportunity for Greenearth to play major role in the carbon roadmap.
Greenearth Managing Director Mark Miller said the company has a significant prospect with Indonesia's geothermal potential assessed at over 27,000 MW with only just 1,100 MW developed to date.
"With first class steam fields, a current and future domestic energy demand unrivaled and a genuine desire by the Indonesian government to deliver to its people and industry, clean, safe, renewable baseload electricity provides Greenearth Energy and our partners with a unique and compelling opportunity," Miller said.
The company currently is putting its team in place and is already working on a number of potential projects. "It's an extremely exciting proposition and one that is both consistent with our long term goal for Greenearth Energy and underpins our strategic proposition of developing geothermal energy resources in Australia, New Zealand and the wider Pacific Rim," Miller said.
Miller noted, "We wish to play a role in supporting the Australian government in assisting Indonesia's participation in future international carbon markets for reducing emissions from deforestation and forest degradation by deploying significant green, renewable energy alternatives."
Greenearth is establishing the entity through its wholly owned subsidiary Green Earth Power Pty Ltd. and in partnership with Melbourne-based Geo Energy Pty Ltd., North American based International Investment Resources LLC and Indonesia's Santini Group.Greenearth will initially hold 40 percent interest in PT. Geo Power Indonesia with the balance split equally between the partner companies.