Panax reviews Ngebel pre-feasibility study
Monday, July 30 2012 - 02:14 AM WIB
Australian-listed Panax Geothermal Limited announced that it had completed in the second quarter of the year the final draft of detailed Pre-Feasibility Study for the Ngebel project in East Java, including full life of project economics.
Panax said in a report that the draft is now being reviewed internally prior to finalization by end July 2012.
The Ngebel geothermal project is a joint venture between Panax and Indonesian private company PT Bakrie Power with the Australian firm controlling a 35 percent interest.
Panax recently said that the project is expected to increase capacity up to 220 MW from 165 MW, allowing the project to deliver more renewable energy to the country which power generation is still dominated by fossil-based fuels.
Editing by Dadan Wijaksana