Originally published at Montara Energy Ventures.

Ormat International, parent company of Ormat, announced today that they’ve been awarded the contract to build and operate a 340MW facility in Indonesia called the Sarulla Project. This is a joint venture between Japan’s Itochu and Indonesia’s Medco Energi Internasional Tbk that amounts to an estimated $800M investment.

At present, Indonesia has geothermal capacity of about 787MW and estimated geothermal potential of over 20,000MW.