PRZOOM - /newswire/ -
Paris, France, 2011/06/15 - GDF SUEZ, through its subsidiary International Power, PT. Supreme Energy (Supreme Energy) and Marubeni Corporation entered into a joint venture agreement for the development of the Rantau Dedap geothermal project located in the South Sumatra Province. FR0010 208488
Gerard Mestrallet, CEO and President of GDF SUEZ, Supramu Santosa CEO of Supreme Energy and Hiroshi Ikuno, regional CEO for Asean Marubeni Corporation signed the agreement at the occasion of the regional meeting of the World Economic Forum in Jakarta.
This agreement follows the appointment of Supreme Energy as winner of the concession (WKP) tender and the award of the geothermal mining license (IUP) to PT Supreme Energy Rantau Dedap, the company charged with further development of the project.
Supreme Energy and IPR-GDF SUEZ were joined by Marubeni Corporation to constitute a partnership bringing to the geothermal sector in Indonesia an unmatched combination of technical skills, geothermal expertise and IPP development and operation experience in Indonesia and worldwide.
PT. Supreme Energy Rantau Dedap will negotiate the Power Purchase Agreement (PPA) with PT. Perusahaan Listrik Negara (PLN) for the sales of the electricity from the geothermal resource before starting exploration activities and the development of the power generation plant upon successful exploration.
The targeted 220 MW geothermal power plant in the Rantau Dedap area is part of the Indonesian Government’s second 10,000 MW accelerated electricity development program. It will contribute to meeting the rising need for electricity in the country, using renewable energy resources.
GDF SUEZ is active in Indonesia through electricity, oil and gas, and water services. In Indonesia, IPR-GDF SUEZ is the first independent producer with 1,280 MW of operating assets and 815 MW of capacity under construction (Paiton). GDF SUEZ has a 70% shareholding in International Power which is one of the leading private power developers in Asia.
About PT. Supreme Energy and GDF SUEZ
PT. Supreme Energy was created in 2007. The company was created by professionals with extensive experience and knowledge of the energy business in Indonesia who have been very active and directly involved in the oil&gas industry and in geothermal development and operations in Indonesia for the past 10 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 licenses in all three in competitive tenders.
International Power plc (iprplc-gdfsuez.com) is a leading independent electricity generating company with 70,196MW (gross) (41,550 MW net) in operation and 17,249MW (gross) (6,826MW net) under construction as at 31 December 2010. International Power has power plants in operation or under construction in six core regions worldwide. International Power is listed on the London Stock Exchange with the ticker symbol IPR.
GDF SUEZ develops its businesses around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,350 people worldwide and achieved revenues of €84.5 billion in 2010. The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.
Investor relations contact:
T: +33 (0)1 44 22 66 29 / E: ir[.]gdfsuez.com.