INPEX Joins Rantau Dedap Geothermal Power Project in Indonesia

Source Press Release
Company Inpex CorporationENGIE 
Tags Corporate Deals, Deals, Renewable Energy, Power
Date October 25, 2022

INPEX CORPORATION announced today it has joined the Rantau Dedap Geothermal Power Project (the Project) through INPEX GEOTHERMAL, LTD. (INPEX GEOTHERMAL), a subsidiary established for the purpose of conducting geothermal business operations.

The Project is based in the Rantau Dedap Geothermal Block located in Indonesia’s South Sumatra Province, and has been jointly implemented by major international energy company ENGIEMarubeni Corporation, Tohoku Electric Power Co., Inc. and a private Indonesian geothermal power generation business developer PT. Supreme Energy through an investment in PT Supreme Energy Rantau Dedap, the Project’s operating company. INPEX has joined the Project by acquiring 27.4 percent of the shares of PT Supreme Energy Rantau Dedap held by ENGIE. INPEX acquired the shares from ENGIE through INPEX GEOTHERMAL.

The Rantau Dedap Geothermal Power Plant is currently in commercial operation with a rated output of 98.4 megawatts and produces a volume of electricity equivalent to what is consumed annually by approximately 450,000 households in Sumatra, Indonesia. Electricity generated by the plant using geothermal resources is planned to be marketed to Indonesian national power company PT PLN (Persero) over a 30-year period from the start of commercial operations in December 2021.

INPEX seeks to enhance and emphasize renewable energy initiatives, which are one of the 5 net zero businesses outlined in the company’s “INPEX Vision @2022” announced on February 9, 2022. INPEX will accelerate its initiatives aimed at its geothermal power generation business, which can utilize the technologies cultivated by the company through oil and natural gas development. INPEX will proactively engage in energy structure reforms towards the realization of a net zero carbon society while fulfilling its responsibilities for the stable development and supply of energy.

The impact on INPEX’s consolidated financial results for the current fiscal year is minimal

Source: EvaluateEnergy® ©2023 EvaluateEnergy Ltd