JAKARTA (TheInsiderStories) - PT. Supreme Energy Muara Laboh (SEML) has signed a loan agreement with Japan Bank for International Cooperation (JBIC), the Asian Development Bank (ADB), the commercial bank consisting of Mizuho Bank, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation with a guarantee of Nippon Export and Investment Insurance.
A loan of US$440 million is to finance development projects Geothermal Power Plant with a capacity of 80 MW in the region of South Solok, West Sumatra, which is developing the first phase of the exploration program and development of 220 MW are planned. To develop the project, SEML has appointed an EPC contractor, a consortium of Sumitomo Corporation, and Industrial Engineering with a major equipment ie turbines and generators supplied by Fuji Electric. The project is expected to be completed by mid 2019.
“The project development geothermal electricity Muara Laboh this is the result and evidence of long efforts continuous and strong commitment of the Supreme Energy in the development of geothermal energy in Indonesia is an important part of the plan the Indonesian government to increase the role of renewable energy in the energy mix in order to realize a sustainable energy security,” said President of Supreme Energy, Supramu Santosa in a press statement.
Laboh Muara project will help open up the South Solok, West Sumatra Province is still a bit off the beaten track, providing employment to around 1,200 people as well as providing business opportunities to local entrepreneurs during the 30 month construction period. CO2 emissions-free electricity generated by the plant will be able to provide electricity to about 120 thousand households.
Supreme Energy is also preparing the development of 86 MW of geothermal resources in the Rantau Dedap located in South Sumatra Province after completing the drilling of six exploration wells in 2016 by PT Supreme Energy Rantau Dedap (SERD), which is developing the first phase of the exploration program and a production of 220 MW are planned. Through PT Rajabasa energy Supreme, Supreme Energy is also preparing an exploration program for the working area of Mount Rajabasa located in the district of South Lampung by PT Supreme Energy Rajabasa (Serb).
SEML and the Serb is a joint venture consisting of Supreme Energy, Engie of France and Sumitomo Corporation of Japan, while SERD is a joint venture company Supreme Energy, Engie and Marubeni Corporation.