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Jakarta Post

Geo Dipa secures $103 million loan for Patuha project

  • Alfian

    The Jakarta Post

Jakarta   /   Wed, September 30 2009   /  01:17 pm

Geothermal power producer PT Geo Dipa Energi has secured a US$103 million loan from state-owned PT Bank Negara Indonesia (BNI) to develop a 55-megawatt (MW) geothermal power plant in Mount Patuha, West Java. The loan will mature in 11 years, and has a 36-month grace period, Geo Dipa president director Praktimia Semiawan said Tuesday after a ceremony to sign the loan. "We'll use the money to finance the power plant construction," he said. "We expect the power plant to be in operation by early 2012." The area around Mt. Patuha holds an estimated geothermal potential production capacity of 400 megawatts electrical (MWe). Steam reserves at the wellhead, which are ready for production, are estimated at 60 MWe. PT Geo Dipa Energi has formulated a Patuha potential development plan that constitutes three project sites: Patuha Units 1, 2 and 3. The second and th...