Indonesia firm invests in geothermal; Drilling and power supply in the Philippines

In Asia-Pacific geothermal markets, Indonesia’s state-owned firm PGE breaks down its estimated financing needs on 8 geothermal power projects. In the Philippines, the Biliran project is in drilling stages, while the Maibarara plant is approved for the Wholesale Electricity Spot Market.

Indonesia: PGE to Invest $2.29 Billion in its Geothermal Projects
The Philippines: Drilling Begins for in Biliran; Maibarara Plant Approved for WESM

In Asia-Pacific geothermal markets, Indonesia’s state-owned firm PGE breaks down its estimated financing needs on 8 geothermal power projects. In the Philippines, the Biliran project is in drilling stages, while the Maibarara plant is approved for the Wholesale Electricity Spot Market.

Pertamina Geothermal Energy (PGE), part of the state-owned oil and gas firm PT Pertamina, has knocked out the figures it says it will need to develop its current 8 geothermal power projects. With financing estimated at at about $3.5 million per MW, the total runs to about a US$2.29 billion investment. The breakdown is: 110 MW at Ulubelu units three and four, 110 MW at Lumut Balai units one and two, 110 MW at Lumut Balai unit three, 440 MW at Lahendong units five and six, 30 MW at Karaha unit one, 35 MW at Kamojang unit five, 110 MW at Hululais units one and two, and 110 MW at Sunga Penuh units one and two. These plans will more than double PGE’s current geothermal portfolio of 402 MW. “Most of the funding will come from Pertamina. Only three of the projects, which are Ulubelu, Lumut Balai [unit one and two] and Lahendong, are financed by soft loans,” PGE president director Adriansyah told Thejakartapost.com.

On October 30, Biliran Geothermal Incorporated began drilling on its first well for the anticipated 49-MW project near Caibiran, Biliran, an island province in the Eastern Visayas region of the Philippines. Along with preparation activities for the project such as building a road, the company donated a water reservoir to the community and continues to work on local efforts. The geothermal power plant is expected to be commissioned in late 2015 or early 2016. Biliranisland.com

Elsewhere in the Philippines, in Sto. Tomas, Batangas, the Wholesale Electricity Spot Market (WESM) operator Philippine Electricity Market Corp approved the 20-MW Maibarara power plant, expected to be completed this year. The WESM facilitates interactions between bulk buyers and suppliers; utilities or industries forward their supply requirements and then use lowest price offers first. Interaksyon.com

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