Saturday, October 18, 2014

Chevron Bets on 30 Billion Volcanoes in Indonesian Rainforest

The San Francisco Chronicle has an article on the geothermal power boom in Indonesia - Chevron Bets on $30 Billion Volcanoes in Indonesian Rainforest.
Chevron Corp. drilled 84 wells to a depth of two miles beneath the Indonesian rainforest to tap steam, not oil and gas, thats trapped in the worlds richest store of volcanic energy.

The geothermal plant, set among wild orchids and bamboo trees, uses 315 degree Celsius (600 degree Fahrenheit) heat to spin turbines 24 hours a day, generating electricity for Jakarta, a four-hour drive to the north. The oil driller, which pioneered geothermal energy 20 years ago in Southeast Asias biggest economy, is about to see competition.

Companies from General Electric Co. to Indias Tata Corp. are leading an investment boom in Indonesia that may climb to more than $30 billion, anticipating President Susilo Bambang Yudhoyono will honor his promise in February to boost clean- energy subsidies. The pledge has spurred the biggest geothermal spending spree in Asia and the largest outside of the U.S.

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