Monday, October 24, 2016

Indonesia: PT PLN (Persero) Eyeing Two Chevron Geothermal Assets

PLN upbeat about winning Chevron geothermal bids (Jakarta Post)

State-owned electricity company PLN is eyeing two geothermal assets that US-based Chevron is currently offering for auction.

To date, six companies, including PLN, are in the running to take over Chevron’s Mount Salak and Darajat geothermal fields in West Java, which are estimated to be worth a combined US$3 billion. The auction winner is scheduled to be announced in January.

PLN corporate communications head I Made Suprateka said on Friday that the company was confident it would secure the deal as it already had a power purchase agreement (PPA) with Chevron to buy electricity from the Mt. Salak and Darajat geothermal power plants, each of which has a capacity to generate 377 megawatts (MW) and 255 MW of electricity, respectively.