Thu, 11 Mar 2010
From: The Jakarta Post
By Alfian
About six geothermal power plant projects, which were supposed to be built by PT PLN under the second 10,000 megawatts (MW) electricity crash program, will be transferred to private power producers (IPPs) as the state power company faces difficulties in securing financing for the projects, an official said.

The energy and mineral resources ministry’s decree No. 2/2010 on the list of the power plants included in the 10,000 MW power project designated PLN to construct 11 geothermal power plants with a total capacity of 880 MW.

“But, we will revise the decree, because there are about six geothermal projects that will be transferred to private companies,” J. Purwono, the Energy and Mineral Resources Ministry’s director general for
electricity and energy use said Wednesday.

Purwono refused to mention the projects planned to be transferred, saying the government was still waiting for a formal written request from PLN.

Meanwhile PLN president director Dahlan Iskan said that the state electricity utility withdrew from the three projects due to protests from the East Java provincial administration. According to him, the provincial government claimed that it was their right to choose the investors in the projects, not the ministry. In an earlier presentation from the ministry, there are three PLN geothermal power projects that were still looking for financing commitments. The power plants are the 110 MW Ijen Power Plant; the 55 MW Iyang Argopuro Power Plant, and the 165 MW Wilis Power Plant - all of them are located in East Java.

The Ijen Power Plant requires investment up to US$165 million, while the Iyang Argopuro and the Wilis power plants require investments of up to $83 million and $259 million, respectively.

Suryadarma, chairman of the Indonesian Geothermal Association (API), said the decree was inaccurate and not in line with the 2003 Geothermal Law. “The law states that the companies winning the geothermal working area tenders can develop the resource from the upstream to the downstream, meaning that they can build the power plants. But, the decree has forced them to sell the steam to PLN’s power plants,” Suryadarma said.

He added that the decree had hampered the geothermal working area tenders conducted by several regional governments. “Several tenders have been opened, but now the regional government are confused because the decree has limited that the downstream side of the business will be given automatically to PLN,” Suryadarma said. He added the projects that have been put up for tender are the Ijen and the Wilis power plants.

A geothermal power plant requires investment of as much as $3 million per megawatt. Suryadarma said the geothermal exploitation and the construction of the geothermal power plants would take about five years. “If the working areas can secure investors this year, the power plants can be finished between 2014 and 2015,” Suryadarma said.

The second 10,000 MW project was originally expected to be completed by the end of 2014.



News Search/Filter
Transaction Rates
24 May 18
Buy
Sell
AED1
3,860.83
3,860.83
AFN1
197.92
197.92
ALL1
130.76
130.76
AMD1
29.40
29.40
ANG1
7,897.24
7,897.24
AOA1
60.76
60.76
ARS1
579.47
579.47
AUD1
10,729.17
10,729.17
AWG1
7,924.67
7,924.67
AZN1
8,329.64
8,329.64
BAM1
8,490.05
8,490.05
BBD1
7,090.61
7,090.61
BDT1
167.56
167.56
BGN1
8,494.32
8,494.32
BHD1
37,561.58
37,561.58
BIF1
7.92
7.92
BMD1
14,181.22
14,181.22
BND1
10,539.00
10,539.00
BOB1
2,051.47
2,051.47
BRL1
3,909.81
3,909.81
BSD1
14,181.22
14,181.22
BTC1
104,964,426
104,964,426
BTN1
208.43
208.43
BWP1
1,421.05
1,421.05
BYN1
7,085.83
7,085.83
BZD1
7,052.60
7,052.60
CAD1
11,046.37
11,046.37
CDF1
8.77
8.77
CHF1
14,262.52
14,262.52
CLF1
622,803.08
622,803.08
CLP1
22.76
22.76
CNH1
2,224.80
2,224.80
CNY1
2,219.77
2,219.77
COP1
5.03
5.03
CRC1
25.08
25.08
CUC1
14,181.22
14,181.22
CUP1
556.12
556.12
CVE1
151.13
151.13
CZK1
644.61
644.61
DJF1
79.69
79.69
DKK1
2,229.06
2,229.06
DOP1
286.75
286.75
DZD1
121.77
121.77
EGP1
791.69
791.69
ERN1
939.32
939.32
ETB1
515.68
515.68
EUR1
16,605.35
16,605.35
FJD1
6,822.51
6,822.51
FKP1
18,958.88
18,958.88
GBP1
18,958.88
18,958.88
GEL1
5,796.68
5,796.68
GGP1
18,958.88
18,958.88
GHS1
3,046.45
3,046.45
GIP1
18,958.88
18,958.88
GMD1
300.67
300.67
GNF1
1.57
1.57
GTQ1
1,901.48
1,901.48
GYD1
68.53
68.53
HKD1
1,806.99
1,806.99
HNL1
594.37
594.37
HRK1
2,245.92
2,245.92
HTG1
220.10
220.10
HUF1
52.13
52.13
IDR1
1.00
1.00
ILS1
3,969.44
3,969.44
IMP1
18,958.88
18,958.88
INR1
207.57
207.57
IQD1
11.93
11.93
IRR1
0.33
0.33
ISK1
134.08
134.08
JEP1
18,958.88
18,958.88
JMD1
112.39
112.39
JOD1
19,987.54
19,987.54
JPY1
129.06
129.06
KES1
140.51
140.51
KGS1
207.47
207.47
KHR1
3.48
3.48
KMF1
33.71
33.71
KPW1
15.75
15.75
KRW1
13.18
13.18
KWD1
46,975.59
46,975.59
KYD1
17,010.35
17,010.35
KZT1
43.45
43.45
LAK1
1.69
1.69
LBP1
9.28
9.28
LKR1
89.83
89.83
LRD1
103.44
103.44
LSL1
1,128.18
1,128.18
LYD1
10,427.37
10,427.37
MAD1
1,496.22
1,496.22
MDL1
844.98
844.98
MGA1
4.35
4.35
MKD1
269.73
269.73
MMK1
10.45
10.45
MNT1
5.90
5.90
MOP1
1,753.35
1,753.35
MRO1
39.83
39.83
MRU1
396.89
396.89
MUR1
411.13
411.13
MVR1
914.91
914.91
MWK1
19.69
19.69
MXN1
722.01
722.01
MYR1
3,564.46
3,564.46
MZN1
234.02
234.02
NAD1
1,119.71
1,119.71
NGN1
39.33
39.33
NIO1
451.91
451.91
NOK1
1,754.85
1,754.85
NPR1
130.28
130.28
NZD1
9,820.49
9,820.49
OMR1
36,848.71
36,848.71
PAB1
14,181.22
14,181.22
PEN1
4,332.24
4,332.24
PGK1
4,342.27
4,342.27
PHP1
270.04
270.04
PKR1
122.67
122.67
PLN1
3,859.93
3,859.93
PYG1
2.51
2.51
QAR1
3,894.35
3,894.35
RON1
3,589.26
3,589.26
RSD1
140.60
140.60
RUB1
231.26
231.26
RWF1
16.48
16.48
SAR1
3,781.60
3,781.60
SBD1
1,807.82
1,807.82
SCR1
1,027.71
1,027.71
SDG1
787.84
787.84
SEK1
1,620.92
1,620.92
SGD1
10,561.51
10,561.51
SHP1
18,958.88
18,958.88
SLL1
1.81
1.81
SOS1
24.79
24.79
SRD1
1,898.93
1,898.93
SSP1
108.86
108.86
STD1
0.68
0.68
STN1
679.17
679.17
SVC1
1,620.07
1,620.07
SYP1
27.53
27.53
SZL1
1,126.38
1,126.38
THB1
442.08
442.08
TJS1
1,577.72
1,577.72
TMT1
4,051.79
4,051.79
TND1
5,584.72
5,584.72
TOP1
6,179.78
6,179.78
TRY1
3,098.80
3,098.80
TTD1
2,103.21
2,103.21
TWD1
473.82
473.82
TZS1
6.21
6.21
UAH1
543.47
543.47
UGX1
3.79
3.79
USD1
14,181.22
14,181.22
UYU1
453.40
453.40
UZS1
1.76
1.76
VEF1
0.17
0.17
VND1
0.62
0.62
VUV1
132.56
132.56
WST1
5,512.86
5,512.86
XAF1
25.31
25.31
XAG1
233,635.15
233,635.15
XAU1
18,366,133.36
18,366,133.36
XCD1
5,247.35
5,247.35
XDR1
20,109.16
20,109.16
XOF1
25.31
25.31
XPD1
13,975,369.03
13,975,369.03
XPF1
139.15
139.15
XPT1
12,833,688.88
12,833,688.88
YER1
56.63
56.63
ZAR1
1,138.26
1,138.26
ZMW1
1,381.61
1,381.61
ZWL1
43.99
43.99
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services