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March 30, 2009

Indonesia’s state firms join geothermal plant construction
PT Geo Dipa Energi (GDE), recently signed a deal with state engineering company PT Rekayasa Industry and state-run Bank Negara Indonesia (BNI) to construct and finance a geothermal power plant in West Java, reported the Jakarta Post.

GDE is a joint venture company of state oil and gas company PT Pertamina and state power company PT Perusahaan Listrik Negara (PLN).

The geothermal project, located in Patuha, Bandung, West Java, will have a capacity of 55 megawatt (MW) from a potential of 400 MW.

"This project is very vital to the second phase of the country's 10,000 MW energy crash program because 4,733 MW of it will be powered by geothermal energy, including from this one," said GDE president director Praktimia Semiawan said.

She said the construction of the Patuha plant was to be completed in two years and fully operational by late 2011, generating around 500 million KWH per year, saving PLN production costs of about 750 billion rupiah ($65.2 million).

Praktimia said a diesel-fueled power plant usually cost about 2,250-2,500 rupiah per KWH while the recurrent cost of geothermal energy was about 8 US cents per (900 rupiah).

Praktimia said the construction of the Patuha plant would cost GDE $143 million, of which about $80 million would be financed by a syndicated loan of state banks while the rest would be from company equity.

"We have appointed state BNI as the syndication leader for the loan," she said, adding other state banks -- Bank Mandiri and Bank Rakyat Indonesia (BRI) -- were included.


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