Indonesian firms sign 30-year GT deal

In Indonesia, Pertamina Geothermal Energy and State Electricity Company signed a 30 year cooperation agreement on geothermal supply for two power plants in Lampung province. Pertamina will supply geothermal steam to two 55 MW Ulubelu power plants at 4.2 cents per kilowatt hour from the Way Panas geothermal site. In addition, Pertamina will get an annual price hike of 2%. The deal comes two years ahead of the scheduled operation of the two power plants, built by Sumitomo Corp. and funded by Japan International Cooperation Agency.