PGE in geothermal loan talks with World Bank
Friday, June 5 2009 - 04:57 AM WIB
PT Pertamina Geothermal Energi (PGE), a geothermal subsidiary of state oil and gas company Pertamina, is in talks with World Bank to develop its three properties in Sumatra and North Sulawesi.
President Abadi Poernomo told reporters on Friday that the company and World Bank would conduct feasibility study to develop Ulu Belu in Lampung (2x55MW), Lumut Balai in South Sumatra (460MW) and Lahendong expansion in North Sulawesi (60MW).
Abadi said World Bank would give loan of US$500 million for the projects out of the $730 million total investment needed.
PGE is planning to spend $3 billion within the next five years to bring 1,342MW of new geothermal capacity to come on stream.(bernard)