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| (Courtesy ENGIE) |
French energy company ENGIE said it was making a debut in geothermal energy with a commitment to help build a power plant in Indonesia.
The French company is part of a consortium tasked with building the Muara Laboh geothermal plant in Indonesia, a former member of the Organization of Petroleum Exporting Countries. The plant is backed by a $440 million finance agreement coordinated in part by the Asian Development Bank and other regional lenders.
ENGIE said it has the drilling and other subterranean experience necessary to help build a facility that at 80 megawatts, will have the capacity to power 120,000 average homes. The company said construction will take about 30 months.
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