a bit more press

http://www.theindonesiatoday.com/news/resources-news/resources-photo/item/1367-panax-excepts-to-increase-generating-capacity-at-ngebel-geothermal-project.html#.UJWnkMXMhfQ

"Panax Expects to Increase Generating Capacity at Ngebel Geothermal Project
Written by Ferdi Hasiman


SYDNEY (Indonesia Today) - Panax Geothermal said Ngebel Geothermal Project (East Java, Indonesia) is expected to increase generating capacity to 220MW, in response to Indonesia’s growing demand for secure, renewable energy.

The Ngebel Geothermal Project is expected to be revised to deliver capacity of 220 MW (up from 165MW), allowing the project to deliver more power to a nation hungry for energy.

In Indonesia, only 65% of residents currently have access to reliable, grid-connected power – a problem that the Indonesian Government is seeking to fix by incentivizing development of the country’s abundant geothermal resources.

Panax said, the Indonesian Government has confirmed a significant increase in the electricity tariff that will be payable for Panax’s geothermal energy projects in Indonesia. The feed-in-tariff for Indonesian geothermal projects will increase from the current $US97/MWh, to $US120/MWh for geothermal projects in Java, and to $US150/MWh for projects on the island of Flores.

"The revised tariffs for our projects are expected to be – Sokoria $US 145/MWh, Dairi Prima $US 170 / MWh, and Ngebel $US 120/MWh. These are also accompanied by a financial guarantee of the financial obligations of PLN (electricity offtaker) by the Indonesian Government," Panax said.

It added progress towards finalisation of our Power Purchase Agreements (PPA’s) for Sokoria and Dairi Prima, with Ngebel to follow shortly thereafter." ( [email protected])

Last modified on Wednesday, 31 October 2012 09:14