PT Medco Cahaya Geothermal (MCG) and PT Sarana Multi Infrastruktur (Persero) (SMI) have inked a financing agreement for the Blawan Ijen geothermal power plant project in Indonesia. In November 2022, feasibility studies were approved for the renewable energy project, which is set to be the first geothermal plant located in East Java.

The Ijen power plant will be developed in two stages. Work on the first stage is expected to be completed in 2025 and will be able to generate around 34 MW annually. Around 12 potential geothermal locations have been identified in East Java with a combined potential to generate around 1,012 MW of clean energy annually. However, only three of the locations are currently in development.