News

PT Geo Dipa secures US$ 103 million for Patuha project/ West Java

Alexander Richter 29 Sep 2009

Geothermal power producer PT Geo Dipa Energi has secured a US$103 million loan from state-owned PT Bank Negara Indonesia (BNI) to develop a 55-megawatt (MW) geothermal power plant in Mount Patuha, West Java.

Reported locally, “Geothermal power producer PT Geo Dipa Energi has secured a US$103 million loan from state-owned PT Bank Negara Indonesia (BNI) to develop a 55-megawatt (MW) geothermal power plant in Mount Patuha, West Java.

The loan will mature in 11 years, and has a 36-month grace period, Geo Dipa president director Praktimia Semiawan said Tuesday after a ceremony to sign the loan.

“We’ll use the money to finance the power plant construction,” he said. “We expect the power plant to be in operation by early 2012.”

The area around Mt. Patuha holds an estimated geothermal potential production capacity of 400 megawatts electrical (MWe).

Steam reserves at the wellhead, which are ready for production, are estimated at 60 MWe. PT Geo Dipa Energi has formulated a Patuha potential development plan that constitutes three project sites: Patuha Units 1, 2 and 3.

The second and the third units are expected to begin production by 2013. The loan signed Tuesday was for the financing of the first unit of the project. Praktimia said that unit would supply enough electricity to power 60,000 households.”

Source: The Jakarta Post