JAKARTA (TheInsiderStories) - A multinational energy firm from France, Engie (EPA: ENGI), aims to develop new and renewable energy generators in Indonesia, with a total capacity of around 2,700 megawatts (MW). The company prepared an investment values up to US$5 billion for these various projects.
“Yes, we have a big pipeline project, around 2 GW, mostly in Kalimantan and Sumatra,” president director PT Engie Energy Indonesia, David Cullerier, said on Tuesday (08/12).
The projects consisted of 1,500 MW of hydropower projects, 300 MW of geothermal power plants, 400 MW of solar power plants on a large scale, 400 MW wind power plant, and 100 MW solar power plant on site. Engie has run Muara Laboh power plant in West Sumatra (85 MW), which has been operating since December 2019 and the 90 MW in Rantau Dedap Geothermal Power Plant in South Sumatra, which is still under construction.
Cullerier said, the operator also in the discussion stage with state-owned utility firm, PT Perusahan Listrik Negara (PLN), to develop the Muara Laboh with additional capacity 63.7 MW, thrpugh its unit, PT Supreme Energy Rantau Dedap. This project need an investment of $700 million and is scheduled for completion by the end of 2020.
The operator is a joint venture of the PT Supreme Energy, Japan’ Sumitomo Corp., and Engie. The electricity will be supplied to the grid network Sumatra owned by PLN and to be distributed to 170,000 households.
Supreme Energy began a preliminary study of the Muara Laboh project in 2008, followed the signing of the Power Purchase Agreement in 2012 and immediately start the exploration. The total investment for the development of phase-1 reached $580 million.
In addition, through PT Supreme Energy Rajabasa, the company is also preparing an exploration program for the Work Area Mount Rajabasa located in South Lampung. Exploration activities will commence immediately after the negotiations extension of the deal with PLN completed.
The company is a joint venture of the company, Engie, Japan’ Marubeni Corp. and Tohoku Electric Power. Cullerier assessed, that Indonesia is quite attractive for new and renewable investment with quite large potential, although he admitted that it is not easy from a regulatory perspective.
Engie is a French multinational electric utility company, headquartered in La Défense, Courbevoie, which operates in the energy transition, generation and distribution of electricity, natural gas, nuclear, renewable energy and oil. The company’s revenue in 2019 reached EUR60.1 billion ($72.40 billion).
Some of its subsidiaries are Cofely AG, Electrabel, and ENGIE Home Services. The company is listed on the Euronext Paris (EPA) exchange with the ticker code ENGI.
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Written by Editorial Staff, Email: theinsiderstories@gmail.com
