French power group GDF Suez SA (GSZ.FR) Wednesday said
it entered a joint venture along with Marubeni Corporation (8002.TO) and
Supreme Energy for the development of the Rantau Dedap geothermal project
located in the
South Sumatra
province.
MAIN FACTS:
- The agreement follows the appointment of Supreme
Energy as winner of the concession tender and the award of the geothermal
mining license to PT Supreme Energy Rantau Dedap, the company charged with
further development of the project.
- Supreme Energy and IPR-GDF SUEZ were joined by
Marubeni Corporation to constitute a partnership bringing to the geothermal
sector in
Indonesia
an unmatched combination of technical skills, geothermal expertise and IPP
development and operation experience in
Indonesia
and worldwide.
- Supreme Energy Rantau Dedap will negotiate the Power
Purchase Agreement (PPA) with PT. Perusahaan Listrik Negara for the sales of
the electricity from the geothermal resource before starting exploration
activities and the development of the power generation plant upon successful
exploration.
- The
targeted 220 MW geothermal power plant in the Rantau Dedap area is part of the
Indonesian government's second 10,000 MW accelerated electricity development
program. It will contribute to meeting the rising need for electricity in the
country, using renewable energy resources.