KS Orka acquires 30 MW Sokoria project on Flores Island, Indonesia

Flores Island, East Nusa Tenggara, Indonesia (source: flickr/ Gabriel ^(oo)^, creative commons)
Alexander Richter 20 Sep 2016

Chinese-Icelandic KS Orka has finalised the acquisition of a 95% stake in the 30 MW Sokoria geothermal power project on Flores Island, East Nusa Tenggara, Indonesia.

In August 2016, we reported on the sale of the 30 MW Sokoria project on Flores Island by its owners. Now details emerge in a release by Chinese-Icelandic KS Orka.

KS Orka Renewables Pte Ltd of Singapore (KS ORKA) has signed an agreement to acquire 95% of PT Sokoria Geothermal Indonesia (SGI) from PT Bakrie Power and Xped Ltd. SGI holds the development rights to Indonesia’s Sokoria Geothermal Power Project (SGPP), a 30MW geothermal power project located in Flores Island, East Nusa Tenggara, Indonesia.

KS ORKA intends to accelerate development of the Sokoria Project. The first geothermal power unit is expected to come online in December 2018. Commissioning of the Project will coincide with the planned completion of the integration of the Flores power grid by the national state power company, PT Perusahaan Listrik Negara (PLN).

KS ORKA, is a joint venture between Hugar Orka ehf, an Icelandic company and Zhejiang Kaishan Compressor Co., Ltd (Kaishan), which is listed on the Shenzhen stock exchange. KS Orka combines the Icelandic geothermal and project development expertise with Kaishan’s power plant technology and manufacturing expertise to form Asia’s only vertically integrated geothermal and waste energy company.

Source: KS Orka