By Lambok Dominikus
Japan’s energy company INPEX Corp through subsidiary INPEX Geothermal Ltd plans to acquire a 31.5 percent interest held by French energy firm Engie SA in the 2x110 MW Rajabasa geothermal power plant project in Lampung Selatan Regency, Lampung Province, according to a source.
The source said that the plan by Engie to sell its stake in the Rajabasa power plant project to INPEX has been one of the factors that have hampered project sponsor PT Supreme Energy Rajabasa (SERB) from securing a new power purchase agreement (PPA) from state-owned electricity firm PT PLN. The original PPA had expired in 2018.
The source estimated the 31.5 percent interest in the Rajabasa geothermal power plant project at about $30 million. No further details were provided.
Read also: Supreme plans additional survey in Rajabasa geothermal field
Petromnindo.com reported in August that SERB planned to conduct additional geophysical exploration in the Rajabasa geothermal field this year and early next year to support the planned development of the 2x110 MW power plant project.
SERB is owned by Indonesian geothermal power producer PT Supreme Energy, Engie and Sumitomo Corp.
This portal reported in February, quoting a source, that Engie had divested its stake in the Muara Laboh geothermal power plant in Solok Regency, West Sumatra Province.
The source told Petromindo.com that Engie sold its shares in PT Supreme Energy Muara Laboh (SEML), owner and operator of the 85 MW Muara Laboh geothermal plant, to a foreign investor in a transaction worth US$150 million. The source did not disclose the identity of the buyer.
Aside from Engie, the other co-owners of the Muara Laboh power plant are Sumitomo Corp and Indonesian firm PT Supreme Energy Sumatera.
INPEX Geothermal Ltd in December of last year acquired a 33.33 percent stake in PT Supreme Energy Sumatera, a subsidiary of Indonesian geothermal power producer PT Supreme Energy.
Editing by Reiner Simanjuntak
