Indonesia's Medco Inks Gas-to-Power Pact

Indonesia's MedcoEnergi and Japan's Kansai Electric have agreed to build and operate gas-fired power plants in a joint venture in Indonesia, the companies said on September 7.

Kansai, which mainly manages power plants in Japan but is expanding overseas, said the alliance with Medco would serve as a platform for building up its business in Indonesia, where electricity demand is rising steadily with economic growth. Medco, with has over 3.3 GW of generation capacity in Indonesia, said the pact would help "unlock" its growth potential in Indonesia. Medco also has oil and gas production business in Indonesia and internationally. It bought upstream minnow Ophir Energy in May 2019.