LONDON, June 15, 2011 /PRNewswire/ --
International Power (IPR), PT Supreme Energy (Supreme Energy) and Marubeni Corporation have entered into a joint venture agreement for the development of the Rantau Dedap geothermal project located in South Sumatra Province.
This agreement follows the appointment of Supreme Energy as winner of the concession tender and the award of the geothermal mining licence.
Supreme Energy, IPR-GDF SUEZ Asia and Marubeni Corporation constitute a partnership that brings a strong combination of technical skills, geothermal expertise and IPP development and experience to the power sector in Indonesia.
Supreme Energy will negotiate the Power Purchase Agreement with PLN before further progressing the development of the power plant.
The 220MW project in the Rantau Dedap region, in which IPR has a 35% interest, is part of the Indonesian government's second 10,000MW accelerated electricity development programme. It will contribute to meeting the rising need for electricity in the country, using renewable energy resources.
International Power is one of the leading power developers in Indonesia with 1,280MW of operating assets and 815MW of capacity under construction in this market.
About International Power
International Power plc is a leading independent electricity generating company with 70,196MW (gross) (41,550MW net) in operation and a significant pipeline of 17,249MW (gross) (6,826MW net) projects under construction as at 31 December 2010. International Power is listed on the London Stock Exchange with ticker symbol IPR. Company website: http://www.iprplc-gdfsuez.com GDF SUEZ holds a 70% interest in International Power plc, further information about the GDF SUEZ Group is available at: http://www.gdfsuez.com
About Supreme Energy
Supreme Energy was formed in 2007 by professionals with extensive experience and knowledge of the energy service business in Indonesia who have been very active and directly involved in the oil and gas industry in geothermal development and operations in Indonesia for the past ten years. Supreme Energy won the rights to carry out preliminary feasibility studies in three of the best geothermal areas in Indonesia and successfully secured the mining licences in all three in competitive tenders.
International Power Press and Investor Contact:
Richard Treacher, +44-207-320-8788
SOURCE International Power plc