ARCI Forms Joint Venture for Geothermal Project
Fri 14 Nov 2025, 01:46 AM
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PT Archi Indonesia Tbk (ARCI) has announced the formation of a new joint venture to develop a geothermal project with energy company PT Ormat Geothermal Indonesia.
According to a disclosure to the Indonesia Stock Exchange (IDX), the joint venture is named PT Toka Tindung Geothermal, with Archi holding 5% and Ormat 95%.
“The purpose of establishing the Joint Venture Company is to collaborate on the joint development of exploration drilling programs and the design, procurement, financing, construction, testing, commissioning, ownership, management, operation, and maintenance of geothermal facilities,” the filing stated on Thursday (11/13/2025).
The project will be located within the mining concession areas of Archi’s subsidiaries, PT Meares Soputan Mining and PT Tambang Tondano Nusajaya.
Archi’s management stated that this step is expected to have a positive impact on the company’s and its subsidiaries’ business sustainability. The project is considered to have strong prospects for future production and sales of geothermal-based electricity.
As is known, beyond the gold business, this Peter Sondakh–affiliated issuer is also exploring renewable energy opportunities through its subsidiary PT Toka Tindung Geothermal (TTG). The company is currently processing environmental permits to develop a geothermal project.
For reference, PT TTG is a joint venture between ARCI and PT Ormat Geothermal Indonesia established in 2024. TTG obtained a geothermal permit in June 2025 for a project in Bitung City with a target capacity of 40 megawatts (MW).
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