en.Wedoany.com Reported - Indonesian mining company PT Archi Indonesia (ARCI) has stated that the Toka Tindung geothermal project in North Sulawesi Province should achieve its Commercial Operation Date (COD) target by 2029. The project is being developed by PT Toka Tindung Geothermal (TTG), a joint venture between PT Ormat Geothermal Indonesia (holding a 95% stake) and ARCI (holding a 5% stake).

Frederic, Investor Relations Officer at ARCI, outlined this long-term goal during a public briefing. The joint venture's business license was approved in 2025. Project partners are planning a development scale of 40 MW. Hidayat Dwiputro Sulaksono, Corporate Secretary of ARCI, previously stated that the joint venture covers all aspects of project development, including exploration drilling and design, through to procurement, financing, construction, testing, commissioning, operation, as well as management and maintenance. According to Frederic, the company plans to commence exploration by 2026, is currently not considering introducing new stakeholders, and the costs of exploration activities will be sourced from internal funds.

The partnership between ARCI and Ormat was first announced in 2021. Under the initial framework, Ormat was responsible for executing the exploration drilling program, developing the drilling program for the geothermal field, and the design, engineering, construction, commissioning, operation, and management of the geothermal facilities. In 2023, a report provided an update on the progress of the geothermal resource assessment process, with Ormat leading the resource assessment work at that time.

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