Raser gets work to carry out W. Java geothermal project FS

Utah-based energy technology firm Raser Technologies, Inc. announced Monday it has been selected by PT Indonesia Power, a unit of state electricity firm PLN as sole-source contractor to carry out feasibility study of the Tangkuban Perahu geothermal concession in West Java under a grand funding of US$ 934,000 from the United States Trade and Development Agency (USTDA).

Under the contract Raser will assess the technical, economic, and financial feasibility of the geothermal resource, including the potential impact and opportunity the project will have for Raser and other U.S. suppliers in the Indonesian market.

Raser and IP entered into a consortium agreement in 2007 to jointly pursue geothermal development in Indonesia. In 2008, IP and Raser were awarded a 100,000 acre concession surrounding the Tangkuban Perahu volcano. Raser and IP have agreed to a 50/50 development arrangement for potential future projects within the concession. IP is Indonesia?s largest electricity generation company, with nearly 9,000 MW of total capacity, including 375 MW of geothermal power generation, which makes it the second largest geothermal generation company in Indonesia.

The feasibility study is expected to begin in May 2010 and be completed in 2011.(alex)