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Inpex Corp invests in Sarulla geothermal project

Taman Hutan Raya Bung Hatta, Solok, West Sumatra, Indonesia (source: flickr/ Daniel Wilder, creative commons)
Francisco Rojas Francisco Rojas 11 Jun 2015

Japanese Inpex Corp. buys stake in 37% interest of the 330 MW Sarulla geothermal project in Indonesia.

Reported yesterday, Japanese Inpex Corp has invested into the 330 MW Sarulla geothermal project.

Inpex has bought a 49% stake in a unit of PT Medco Power Indonesia that helds a 37.25% interest in project company Sarulla Operations Ltd.

Other shareholders in the project are: Kyushu Electric, Itochu Corp. (25% stake each) and Ormat Technologies that holds a 12.75% stake in the project.

The project is currently in construction state and it is expected to start operations in 2016, with full capacity expected to be online by 2018. The project has signed a 30-year PPA with PLN.

The move is in line with Inpex’s medium- to long-term strategy to pursue business opportunities in the renewable energy sector, it said, without disclosing financial details.

Soure: Indonesia Investments