Chevron divests Asian geothermal portfolio
Chevron's geothermal subsidiary operated Darajat Unit 3 from its 2009 startup. A divestment from its geothermal assets in Asia shifted ownership of the field to Star Energy, part of Star Energy's acquisition of the plants Chevron had run in Indonesia and the Philippines.
Ownership moved from an oil major to a dedicated geothermal developer.
Star Energy's focus on wringing more value from existing fields set up the kind of upgrade Mitsubishi completed in 2026.
Explains why Darajat received a retrofit rather than being sold off or expanded with new units—its owner values output gains from assets already in place.
