PGE to spend $2.29b on geothermal projects

Pertamina Geothermal Energy (PGE), a wholly owned subsidiary of state-owned oil and gas firm PT Pertamina, will spend up to US$2.29 billion to finance the development of eight geothermal power plants, the company’s senior executive says.

PGE president director Adriansyah said the company would need to spend about $3.5 million per megawatt (MW) of electricity to be produced by the eight new geothermal power plants. Thus, the total investment in the eight projects would reach $2.29 billion.

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Posted November 3, 2013 by repit in News

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