REPUBLIKA.CO.ID, JAKARTA - Ministry of Energy and Mineral Resources has denied the rumor that government sold Mount Ciremai in West Java to a global energy giant, Chevron, to explore geothermal energy possibilities in the mountain. Director General of New Energy, Renewable and Energy Conservation, Rida Mulyana explained that government auctioned the mount's geothermal potential instead of sold it.

"There is no such mountain being traded, it's auctioned instead," Mulyana said recently.

The auction process has been carried out transparently and generating Chevron as the winner. There is big potential of geothermal energy in Mount Ciremai predicted to reach 150 mega watt (MW). Chevron plans to build a geothermal power plant with a capacity of 2x55 MW.

Mulyana said that government and company had not yet decided the investment value, but the range was from 390 million USD to 440 million USD or approximately 4.5 trillion IDR to 5 trillion IDR. The investment can add foreign exchange reserves and increases electricity capacity. 

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