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Jakarta Post

Geo Dipa needs $600m to finance new projects

  • Rangga D. Fadillah

    The Jakarta Post

Jakarta   /   Tue, May 24 2011   /  08:00 am

In a bid to expand its business into electricity generation, state-owned geothermal producer PT Geo Dipa Energy said Monday that it needed additional capital of around US$600 million.

The company’s president director, Praktimia Semiawan, said in Jakarta on Monday that the funds would be allocated to finance the development of new geothermal power plants in Dieng in East Java and Patuha in West Java.

“We want to construct geothermal power plants in Dieng with a total capacity of 110 megawatts and in Patuha with the same capacity.

The cost at each location will be around $300 million, so we need $600 million in additional capital in total,” she told House of Representatives Commission VII overseeing energy in Jakarta.

The power plants will tap geothermal wells in Dieng and Patuha, which are estimated to have capacities of 800 megawatts and 400 megawatts ea...