Signing of Power Purchase Agreement and Issuance of Government Guarantee Letter for the Muara Laboh and Rajabasa geothermal projects

Posted on: March 2nd, 2012 by Admin Web

Jakarta, March 2, 2012

Press Release Today, March 2, 2012, PT Supreme Energy Muara Laboh and PT Supreme Energy Rajabasa entered into two Power Purchase Agreements (PPAs). The PPAs are with the Indonesian state-owned electricity utility Perusahaan Listrik Negara (PLN) for the sale and purchase of power from the Muara Laboh and Rajabasa geothermal project to be built on the Sumatra island and deliver electricity to the Sumatra grid. The geothermal projects will be developed as Independent Power Producers (IPPs).

On the same day the Ministry of Finance of the Republic of Indonesia issued the Government Guarantee Letter for the two above mentioned project companies. This Guarantee Letter is provided pursuant to the Minister of Finance Regulation No. 139/PMK.011/2011 for PLN’s Business Viability. (more…)