bonanza?, page-5

officially on bakrie website now.

http://translate.google.com.au/translate?hl=en&sl=id&u=http://www.bakrie-brothers.com/mediarelation/detail/2194/bakrie-power-siapkan-us-777-juta-di-tiga-proyek-panas-bumi&prev=/search%3Fq%3Dbakrie%2Bgeothermal%26hl%3Den%26sa%3DX%26tbo%3D1%26biw%3D1348%26bih%3D621%26tbs%3Dqdr:d%26prmd%3Dimvns&sa=X&ei=Y-3rT46KFuaimQXi__DjAg&ved=0CGwQ7gEwBQ

Thursday, June 28, 2012
Bakrie Power Prepare U.S. $ 777 Million in Three Geothermal Projects
by Indonesia Finance Today
JAKARTA (IFT) - PT Bakrie Power, a subsidiary of PT Bakrie & Brothers Tbk (Bakrie & Brothers), allocated U.S. $ 777 million for the development of three geothermal power plant (PLTP) with a total capacity of 225 megawatts (MW) -250 MW. Ali Herman Ibrahim, Director of Bakrie Power, said the three plants would be built in Sokoria, Nusa Tenggara Timur, Dairi Prima Ngebel in North Sumatra and East Java. "Investing for the three regions was U.S. $ 777 million, out of our partners," he told the IFT on Wednesday.

Bakrie Power took Panax Geothermal Limited, a company in the geothermal sector is listed in Australia. Both will develop the geothermal potential in Sokoria capacity of 30 MW, built Dairi Prima geothermal plant in North Sumatra with a capacity of 30-55 MW and PLTP Ngebel, East Java, with a capacity of 3x55 MW.

Panax Geothermal says ready to invest U.S. $ 500 million per year for geothermal development in Indonesia. Panax will begin issuing regular shopping is starting to come in 2013 for geothermal projects in Indonesia.

Ali Herman said the project is projected to complete within 45 months after the signing of power purchase contracts (power purchase agreement / PPA) with PT PLN (Limited) as a buyer. "The price was finalized and signed so we expect 45 months to complete," he said.

Bakrie Power has a 55% stake in Sokoria, and 51% in the Dairi Prima. Whereas in PLTP Ngebel project, said the company also has a majority stake of 65%. The selling price of electricity from geothermal power plants Sokoria U.S. $ 12.5 cents per kilowatthour (kWh). While prices for PLTP Dairi Prima U.S. $ 15 cents per kWh and PLTP project Ngebel about U.S. $ 7.55 cents per kilowatthour.

Kerry Parker, Director General of Panax Geothermal says Panax currently finalizing two power purchase agreement with PLN geothermal. "PLN together with the Ministry of Finance and the Ministry of Energy confirmed that the negotiations related to a power purchase agreement for Sokoria and Dairi Prima is final and being prepared to be finalized," he said.

M Sofyan, Chief, Division of Renewable Energy PLN, said today the company and said the company is still in the process of negotiating the price for the three geothermal power plants. Targeting PLN signed a power purchase agreement with Bakrie Power geothermal can be implemented this year.

In addition to the Bakrie Power, PLN is still renegotiate the purchase price of geothermal electricity from geothermal mining working areas Jailolo, West Halmahera, North Maluku to be developed by PT Star Energy Geothermal Halmahera. He said the renegotiation was done because the purchase price of PLN electricity rate based on the results of the auction is too high.

Based on the results of the geothermal tender auction held local government, the purchase price of geothermal electricity from geothermal working areas Jailolo Rp 1727.54 per kWh. Price of electricity is more expensive than the price of geothermal power high of U.S. $ 9.7 cents per kWh is set by the government in the Minister of Energy and Mineral Resources No. 2 of 2011.

Sanusi Satar, Vice President of External Affairs Energy Star, previously said the company prepared to renegotiate the power purchase price of hot Jailolo with PLN.

Based on data from Directorate General of Renewable Energy and Energy Conservation, Ministry of Energy and Mineral Resources, Energy Star is planning to build a geothermal power plant at a capacity of 10 megawatts Jailolo, or about 13% of the total reserves of 75 megawatts unexpected.

At an early stage company developing geothermal power only with 2x5 megawatt capacity as adjusted by the electricity demand in the region. "The capacity of plants can be improved if local consumption also increased," said Sanusi.

Currently the company conduct a feasibility study on the working area. After thorough study, Star Energy will carry out exploration activities to find out the proven reserves of geothermal working areas Jailolo. "Reserves of about 70 megawatts of new reserves were unexpected, only discovered later when explored how real," he said.

Energy Star is targeting the plant began operating in 2015. If the infrastructure is good, the cost of drilling a geothermal well an average of U.S. $ 8 million. "If in Jailolo, drilling costs could be U.S. $ 10 million per well," said Sanusi.

Indonesia's geothermal potential has currently reached 29 038 MW located in 276 locations. The potential is made up of 13 171 MW of resources and reserves 15 867 MW. In this, the capacity of 1226 MW of geothermal. In 2015 geothermal development is targeted to increase up to 3156 MW.