Raya continues searching for partner in Sokoria project
Friday, January 29 2016 - 09:42 AM WIB
ASX-listed Raya Group Ltd and PT Bakrie Power continue informal discussions with a large European Power group to discuss potential involvement with the Sokoria geothermal project, Flores Island.
Whilst the discussions remain early, the European firm hold all the capabilities to develop and fund the project should they wish to participate. They will continue to review Sokoria and other projects in the region and will advise their intentions when ready, Raya said in a statement on Friday.
Raya said it is currently awaiting approval from state owned electricity firm PT Perusahaan Listrik Negara (PLN) on the Transmission Line Study tariff proposal for the Sokoria project with negotiations still ongoing.
The power plant project which is designed with a capacity of 30 MW is 45 percent owned by Raya. The remaining shares are owned Bakrie.
Editing by Johannes Simbolon