Indian energy company Tata Power Company Ltd (BSE:500400) said it will team up with an Indonesian partner to build the Sorik Merapi geothermal power plant in North Sumatra.
Comment: But as it seems both companies still would need to win the auction, as reported here.
Reported from Indonesia, “Tata Power and PT Supraco, a privately owned company, will invest up to US$165 million in the project, Minesh Dave, Tata Power’s chief representative in Indonesia, said.
However, an agreement on the power price is yet to be reached with state electricity company PLN, which will buy the power generated by the plant, Dave said.
In the first phase, the Sorik Merapi geothermal power plant will have a capacity of 55 megawatts (MW) to be increased later to 200 MW, the newspaper Investor Daily said.”
Source: Trading Markets