State electricity company PLN and Amoseas Indonesia, a subsidiary of Chevron Texaco, have reached agreement on the price of electricity to be generated from the Darajat III geothermal plant which will be soon constructed by Amoseas, Investor Daily reported on Thursday.
"I did not remember the detail but the price of the electricity from the Darajat III project will be less than 4.43 U.S. cent per kilo watt," the director of PLN's Primary Energy and Power Generation, Herman Ibrahim, said in Jakarta on Wednesday.
Amoseas plans to develop a new geothermal power plant in November this year at its geothermal power complex in Darajat, West Java. The company which at present has two geothermal power plants in the location - Darajat I and Darajat II, will need a cash of about US$143 million to build the Darajat III project.
Amoseas hopes that the new geothermal power plant with a capacity of 110 MW will start commercial production in October 2006. PLN will purchase the power output. (*)
