Raser partners with Indonesia Power to develop W. Java geothermal project
Wednesday, September 3 2008 - 10:44 PM WIB
Utah-based firm Raser Technologies, Inc. announced Wednesday it has been chosen by PT Indonesia Power, a subsidiary of state electricity firm PLN, to build an estimated 110 megawatts (MW) of geothermal power in Tangkuban Prahu, West Java.
Indonesia Power will hold 51% ownership in the venture, while Raser will own 49%. It is expected that the capital to fund the development of the project in West Java will be independently financed.
?We have studied this resource along with The Energy and Geoscience Institute and believe that it could potentially support 200 to 300 MW of clean renewable power,? stated Michael Hayter, Raser?s Director of Geothermal Development. ?We anticipate that the initial phase of development will be a rapidly deployed binary plant with additional phases potentially including larger flash geothermal plants.? (alex)