US$ 30 MILLION WAY RATAI GEOTHERMAL PROJECT

[CATEGORY: GEOTHERMAL]

Italian firm Enel Green Power (EGP), in consortium with Indonesian geothermal developer PT Optima Nusantara Energi (ONE), has been awarded the right to hold the license to explore geothermal resources and develop the 55 MW Way Ratai geothermal power project in the Way Ratai area, Lampung province, following the tender launched by the Indonesian Ministry of Energy and Mineral Resources in December last year.

The project will be the first to be developed by Enel in the country, marking the company's entry into Indonesia's renewables market. Enel will be investing up to US$ 30 million for the exploration phase of the project, which is part of the investment program set by the group's current strategic plan.

"Construction of the geothermal power plant, which depends on the results of the exploration phase, is expected to be completed and enter operation in 2022. EGP and ONE will jointly establish and own a special purpose vehicle (SPV) holding the project, with EGP having the majority stake in the SPV. In line with the tender rules, the energy produced by the geothermal power plant, which is expected to generate around 430 GWh per year, will be sold to national utility PT Perusahaan Listrik Negara (PLN) (Persero) under a 30 year power purchase agreement (PPA).  

All complete data can be seen at www.tender-indonesia.com

(The source of the Indonesia Oil and Gas, Mining, Electricity, Infrastrcuture, Telecommunication tender project and tender award)