Financial closing reported for 90 MW Rantau Dedap geothermal project, Indonesia

Financial Close Rantau Dedap geothermal project, Jakarta/ Indonsia - March 23, 2018 (source: twitter/ JCBerthonnet)
Alexander Richter 23 Mar 2018

PT Supreme Energy Rantau Dedap (SERD) have signed a financial loan agreement with the Asian Development Bank. The project is a joint development by PT Supreme Energy, Marubeni and Storengy (Engie Group).

Through sources close to the matter, ThinkGeoEnergy learned that the joint venture PT Supreme Energy Rantau Dedap (SERD) developer of the Rantau Dedap geothermal project in Indonesia have reached an agreement with Asia Development Bank on the funding for the 90 MW project.

The signing of the agreement was attended by Engie Group CEO Isabelle Kocher and the partners to the project, Supreme Energy, Marubeni and Tohoku.

We reported on the lengthy process of reaching an adapted power purchase agreement with PLN, following lower than expected output from the project. An agreement on the new PPA was reached in November 2017.

We will report more as soon as we learn more from official sources.