ABOITIZ Power Corp. (AboitizPower) said on Tuesday it has decided to exit from the greenfield geothermal exploration and development project of its wholly owned Singapore-based subsidiary, AboitizPower International Pte. Ltd. (AP Intl), in Ijen, East Java Province, Indonesia.
AP Intl entered into an agreement with PT Medco Power Indonesia to participate in the exploration and development of a potential 2 x 55-megawatt (MW) geothermal power plant in September 2015.
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