"On November 12, 2012, PT. Supreme Energy Rantau Dedap (Indonesia, “SERD”), a special purpose company established by Marubeni Corporation (“Marubeni”), PT. Supreme Energy (Indonesia, “Supreme Energy”) and GDF Suez S. A. (France, “GDF Suez”), entered into a Power Purchase Agreement (“PPA”) for 30 years with the Indonesian state-owned electricity utility, PT. PLN (Persero) (Indonesia, “PLN”) in respect of the development of Rantau Dedap geothermal power plant project (“Project”) located in the South Sumatra Province of Indonesia.
SERD will develop the geothermal resources in the Rantau Dedap area and construct a geothermal power plant with a generating capacity of 220MW. The target commercial operation is scheduled in 2016 and the electricity generated by the Project will be supplied to PLN based on the PPA. SERD expects to procure main equipment of its power plant from Japanese manufacturers and secure financing through project finance with the assistance of international commercial banks and export credit agencies such as Japan Bank for International Cooperation.
With the world’s largest estimated geothermal resources and rapidly growing electricity demand, the government is proactively laying groundwork to expand development of geothermal power plants. The Project is part of the Indonesian government’s electricity development program (the Fast Track Program II) and holds an important place for the future development of geothermal energy in Indonesia. Marubeni will, through the Project, contribute to stable power supply and facilitation of geothermal resources as a low emission and renewable energy in Indonesia."
etc.
PAX Price at posting:
0.4¢ Sentiment: None Disclosure: Held
