Turkish group to invest $2.5b in East Java

GeothermalPowerStation
Indonesia is rich in geothermal resources

Turkey-based Hitay Investment Holdings plans to invest $2.5 billion in three geothermal power projects in East Java, Indonesia, local media reported.

The estimated power potential for all three projects, located at Mount Bromo, Mount Lamongan and Raung, is about 1,100 MW.

Hitay Investment said it has been studying the investment possibility since 2011 and has now received approval from the Indonesian Ministry of Energy and Mineral Resources.

The company, through its newly founded subsidiary PT Hintay Renewable Energy, is now conducting an exploration survey, which is to take about 1-2 years. The planned survey will cover aspects of geology, geochemistry and geophysics. In addition to geothermal exploration, it is hoped that there will be a transfer of knowledge between Turkey and Indonesia. It is planned that satellite technology owned by the Turkish government will aid in the exploration of the fields.

Hitay Investment Holdings is a business conglomerate focusing on corporate venture capital since 1988. The group was founded by Emin Hitay, a prominent entrepreneur and investor known with his startups in Turkey.

 



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[caption id="attachment_7903" align="alignleft" width="300"] Indonesia is rich in geothermal resources[/caption] Turkey-based Hitay Investment Holdings plans to invest $2.5 billion in three geothermal power projects in East Java, Indonesia, local media reported. The estimated power potential for all three projects, located at Mount Bromo, Mount Lamongan and Raung, is about 1,100 MW. Hitay Investment said it has been studying the investment possibility since 2011 and has now received approval from the Indonesian Ministry of Energy and Mineral Resources. The company, through its newly founded subsidiary PT Hintay Renewable Energy, is now conducting an exploration survey, which is to take about 1-2 years....

GeothermalPowerStation
Indonesia is rich in geothermal resources

Turkey-based Hitay Investment Holdings plans to invest $2.5 billion in three geothermal power projects in East Java, Indonesia, local media reported.

The estimated power potential for all three projects, located at Mount Bromo, Mount Lamongan and Raung, is about 1,100 MW.

Hitay Investment said it has been studying the investment possibility since 2011 and has now received approval from the Indonesian Ministry of Energy and Mineral Resources.

The company, through its newly founded subsidiary PT Hintay Renewable Energy, is now conducting an exploration survey, which is to take about 1-2 years. The planned survey will cover aspects of geology, geochemistry and geophysics. In addition to geothermal exploration, it is hoped that there will be a transfer of knowledge between Turkey and Indonesia. It is planned that satellite technology owned by the Turkish government will aid in the exploration of the fields.

Hitay Investment Holdings is a business conglomerate focusing on corporate venture capital since 1988. The group was founded by Emin Hitay, a prominent entrepreneur and investor known with his startups in Turkey.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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