Supreme Energy closes $50m financing from Asian Development Bank
Rantau, South Sumatra, Indonesia (source: flickr/ amrufm, creative commons)
Francisco Rojas
5 Nov 2014
President of PT Supreme Energy Triharyo Indrawan Susilo said the geothermal project, located in South Sumatra is in the initial phase and the 240 MW of power will be online in 2015.
Local news state that PT Supreme Energy has managed to meet the schedule of financing (financial closing), for the construction of geothermal facilities projects worth $USD 50 million. The funds are provided by the Asian Development Bank (ADB) through a clean technology fund project.
President of PT Supreme Energy Triharyo Indrawan Susilo said the geothermal project, located in South Sumatra is in the initial phase, the project will begin with the exploration, infrastructure development, excavation and testing of wells in the near future. “We are targeting completion of this project in 2015,” he said in Jakarta.
According to the president, if successfully developed, installed capacity is expected to be 240MW. The project is aiming to provide a geothermal power plant that can last up to 30 years, to meet the electricity needs of 490,000 households.
He insists, this is part of the development program of 10,000 mega watts of electricity, where 4,000 MW are going to be from geothermal energy. “The project was estimated to be able to reduce total carbon dioxide emissions equal to 1.1 million tons per year,” he said.
SERD is a joint stock company owned by PT Supreme Energy, GDF SUEZ and Marubeni Corporation. This project will be conducted under the license geothermal running for 35 years, 30-year agreement with PT PLN signed on 12 November 2012, and also the assurance of the Minister of Finance, signed on November 21 of 2012.
Source: Merdeka
