 |
Dairi Prima Project
Sumatra - Indonesia (Courtesy Panax)
|
Panax Geothermal of Queensland, Australia, has raised A$1.1 million, giving it the working capital to finalise
Power Purchase Agreements (PPA) and project financing discussions for its Indonesian geothermal projects.
The company has already received written advice that execution of the PPA for both the Sokoria and Dairi Prima projects in Flores and North Sumatra are expected to occur soon.
This will in turn allow it to finalise project financing for the two projects.
Panax and its local partner PT Bakrie Power, which is involved in all the projects, are also close to finalising the PPA for the larger Ngebel Project in East Java.
Read More....
The company has already received written advice that execution of the PPA for both the Sokoria and Dairi Prima projects in Flores and North Sumatra are expected to occur soon.
This will in turn allow it to finalise project financing for the two projects.
Panax and its local partner PT Bakrie Power, which is involved in all the projects, are also close to finalising the PPA for the larger Ngebel Project in East Java.
Read More....