KS Orka expanding business in Indonesia with JV on new geothermal project
Chinese power plant technology provider Kaishan through its KS Orka holding company has signed a joint venture agreement with PT Optima Nusantara Energi on the development of the Simbolan-Samosir geothermal power project in Indonesia.
In an announcement today, Chinese Kaishan announced that it is engaging in another geothermal project in Indonesia.
Its holding company KS Orka Renewables through wholly-owned subsidiary Sokoria Geothermal Singapore Pte. Ltd has signed the “Simbolon-Samosir Geothermal Project Shareholders Agreement” with PT Optima Nusantara Energi to jointly develop the geothermal project.
According to the shareholder agreement signed by both parties, KS ORKA and PT Optima Nusantara agreed to establish the special purpose entity PT Samosir Geothermal Power (project company) to jointly develop the Simbolon-Samosir geothermal project. This includes: exploration, exploitation and development of geothermal resources; design, engineering, procurement, financing, build, test, putting the plant into operation, own, manage, operate and maintain geothermal field facilities and power stations from the WKP region energy; use geothermal energy production in the WKP region, and sell power to PLN based on the PPA and PPN contracted by the project company.
The Simbolon-Samosir geothermal project is the third geothermal project the company acquired in Indonesia, which has increased the company’s on-hand geothermal resource reserves.
The company will continue to further increase its possession of high-quality geothermal resource reserves in accordance with established plans, and lay a solid foundation for the company’s sustainable development and development, transformation to geothermal power and other renewable energy operators and geothermal power generation equipment providers.
At present, the development of two geothermal projects of the company in Indonesia is proceeding smoothly, and grid-connected power generation is just around the corner.
Kaishan, as a power plant technology provider has been very active since it has entered the geothermal sector, with several projects in Europe, an operating power plant in Hungary, the now three projects in Indonesia and further plans beyond those markets. The company acts also as a developer and is buying projects to develop them.
Source: JRJ News