panax geothermal plans expansion..

http://thinkgeoenergy.com/archives/13622

(it's a repeat of an old Proactive Investors story but at lest the PR machine is ticking over....)

"Australian developer Panax Geothermal already has projects of up to 300 MW in the pipeline in Indonesia, but sees opportunities for further investment in the country to fuel the energy demand in this growing economy.

With recent forecasts that see Indonesia developing in the world’s seventh largest economy and an expected dramatic increase in energy demand, McKinsey and Company expect the country to surpass large economies such as Germany and Britain in the world economic rankings.

This growth is seen as a catalyst for onshore investments, but also prominent global companies investing in the region.
Australian Panax Geothermal is already invested in the geothermal market in the country and – so Kerry Parker, the company’s Managing Director – has further plans of investment into the country.

“Parker said Panax anticipated bringing each of its three key projects in Indonesia into production over the next three to four years, boosting power to community and industry as energy demand grows.

Indonesia is considered a world geothermal “hotspot”, with the Indonesian Government planning to increase generation by 240% in the next four years to more than 4,000 megawatts – or the equivalent of about 12 large power stations.
Panax’s portfolio of projects has the capacity to produce more than 300 megawatts of clean electricity generation, with around 165 megawatts net to Panax.

The company recently negotiated power purchase agreements for its Sokoria and Dairi Prime geothermal projects with Indonesian electricity regulator PT PLN and the Indonesian Government.

Both Sokoria and Dairi Prime have planned initial electricity generation capacity of 30 megawatts.

Panax and its Indonesia partner PT Bakrie Power are targeting the start of electricity production at Dairi Prima by late 2013."