GE BUYS INTO INDONESIAN GEOTHERMAL

GE invests in Indonesian energy
Richard Lee, November 18, 2009 (The News-Times)

"…GE Energy Financial Services has made its first geothermal power investment outside the United States, loaning $50 million to Indonesia's biggest geothermal power producer, a 220-megawatt emissions-free plant set in a volcanic region of tea and quinine plantations.

"…[It] made the loan to a subsidiary of Star Energy, a privately held Indonesian energy developer, as it completed a turbine and steam-feed project to double the plant's power output. Further expansion is planned to helped meet the power needs of Java, Madura and Bali. [GE has invested $1.2 billion in Indonesia, where it began operations in 1940.]"

11% and just getting started. (click to enlarge)

"GE Energy Financial joined a $282 million project finance loan [to the Waywang Windu plant is near the town of Pangalengian, 200 kilometers south of Jakarta] that closed in 2007, with Standard Chartered Bank serving as the lead arranger…The power is sold into the state-owned power utility PLN's West Java high voltage grid…

"The [Ecomagination] program has led to GE's global investment of more than $4 billion in renewable energy…[and] GE has been an important player in providing funds to the renewable energy industry, creating "green" jobs and markets…"

Add GE to the list. (click to enlarge)

"The Indonesia plant, named for Mount Wayang and Mount Windu in the highlands of West Java, provides clean power, avoiding 1.2 million tons per year of greenhouse gas emissions…

Positioned on the volcanic "Ring of Fire" that circles the Pacific Ocean, Indonesia hosts an abundant source of clean, sustainable geothermal energy to complement its immense hydrocarbon and coal reserves. Indonesia has one of the biggest geothermal resource potentials in the world, estimated at 27,510 megawatts. But with today's total capacity of 1,052 megawatts, less than 5 percent of the potential has been developed. The government aims to install 9,500 megawatts of geothermal-generating capacity by 2025, accounting for 6 percent of the country's energy consumption."