US geothermal firm nabs Indonesia deal

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geothermal_reservoirs_IndonesiaOrmat Industries, a subsidiary of Ormat Technologies, a US-based provider of geothermal energy and recovered energy generation, signed a joint venture contract with Indonesia’s Sarulla Operations on April 3 for a 330-megawatt geothermal power project.

The renewable energy project, named after the Indonesian company, is located in Tapanuli Utara in north Sumatra, and designed by Ormat, who will supply its branded energy converters, receiving $254 million in the deal.

Ormat International, a unit of Ormat Technologies, owns a 12.75 per cent stake in Sarulla.

The Sarulla project is the largest geothermal power project in Indonesia, which will be construction in three phases consisting of an installed capacity of 110 megawatts each.

The first phase is due to come online in 2016, with the following two starting 18 months later.

The granting of the joint venture contract follows a long period of negotiation by Ormat, who was looking to secure financing terms.

Indonesia is the third largest producer of geothermal energy after the US and the Philippines, and has 40 per cent of the world’s potential geothermal resources due to its volcanic geology.

The Sarulla geothermal power stations will join Ormat’s current power stations in the US, Kenya, Guatemala, and Nicaragua, which generate a net 575 megawatts of electricity.

 

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Reading Time: 1 minute

Ormat Industries, a subsidiary of Ormat Technologies, a US-based provider of geothermal energy and recovered energy generation, signed a joint venture contract with Indonesia’s Sarulla Operations on April 3 for a 330-megawatt geothermal power project.

Reading Time: 1 minute

geothermal_reservoirs_IndonesiaOrmat Industries, a subsidiary of Ormat Technologies, a US-based provider of geothermal energy and recovered energy generation, signed a joint venture contract with Indonesia’s Sarulla Operations on April 3 for a 330-megawatt geothermal power project.

The renewable energy project, named after the Indonesian company, is located in Tapanuli Utara in north Sumatra, and designed by Ormat, who will supply its branded energy converters, receiving $254 million in the deal.

Ormat International, a unit of Ormat Technologies, owns a 12.75 per cent stake in Sarulla.

The Sarulla project is the largest geothermal power project in Indonesia, which will be construction in three phases consisting of an installed capacity of 110 megawatts each.

The first phase is due to come online in 2016, with the following two starting 18 months later.

The granting of the joint venture contract follows a long period of negotiation by Ormat, who was looking to secure financing terms.

Indonesia is the third largest producer of geothermal energy after the US and the Philippines, and has 40 per cent of the world’s potential geothermal resources due to its volcanic geology.

The Sarulla geothermal power stations will join Ormat’s current power stations in the US, Kenya, Guatemala, and Nicaragua, which generate a net 575 megawatts of electricity.

 

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