Andalas Energy and Power plc (AIM:ADL) is pleased to announce that it has signed a memorandum of understanding with PT Pertamina Power Indonesia, a wholly-owned subsidiary of PT Pertamina (Persero), and Siemens AG regarding the development of an independent power producer at the Puspa field in Sumatra.
David Whitby, CEO of Andalas Energy & Power, commented, “The execution of the Puspa MOU establishes our first joint project with PPI and Siemens.
“Pertamina has recently completed an appraisal program on the Puspa field. The proposed IPP would enable Pertamina to commercialise the field. Andalas' preliminary assessment is that it will support a 20 to 50MW wellhead IPP. We will continue to refine this model in discussions with all stakeholders including PPI, Siemens, PEP and PLN.
“We are pleased to welcome Siemens to our consortium. Siemens is a leading provider of generating systems and networks in Indonesia and we believe their addition to the project will prove invaluable.”
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
PT Pertamina (Persero) – Indonesia's National Oil Company
Today Pertamina is ranked 230 on the Global Fortune 500 of companies generating over US$41 billion in revenue and with some US$45.5 billion in assets in 2015. It has interests in over 230,000 square kilometres of acreage, has over 5 billion barrels of oil equivalent (‘boe') in proven and probable reserves, and in 1H 2016 its production reached 640,000 boe per day, equating to over 50% of Indonesia's total hydrocarbon production. Pertamina's business is fully integrated and includes a significant power business. Pertamina are the lead developer of the recently approved Jawa-1 (1,760MW) power plant and have a further 235 MW of geothermal power plants in operation or being commissioned throughout Indonesia.
PT Pertamina Power Indonesia – Pertamina's power developer
PPI was recently established by Pertamina to run, control and manage all of its power business activities in Indonesia and globally. From 2017, all gas-based and new & renewable energy power projects undertaken by the Pertamina Group will be officially led by PPI. PPI's interests include a stake in PT Jawa Satu Power which is developing the 1760 MW Jawa-1 IPP. PPI also has stakes in a number of solar power projects.
PT PLN (Persero) – Indonesia's National Utility
PLN is a state-owned company responsible for the majority of Indonesia's power generation. It has exclusive powers over the transmission, distribution and supply of electricity to the public and it is responsible for the procurement of independent power production. PLN employs circa 51,000 employees across the archipelago and PLN's total generating capacity (produced by many different plants across Indonesia) at 31 December 2015 was reported at around 40,265MW. PLN is focusing their efforts and investments to fulfilling the Governments ambitious targets of adding 35,000 MW of generating capacity by 2019 in order to increase the electrification ratio of Indonesia to levels comparable with other ASEAN nations.
Siemens AG is a German conglomerate company headquartered in Berlin and Munich and one of the largest global industrial manufacturing companies. Siemens is 50% owner of PT Jawa Power 1,220MW that is the only coal fired power plant to receive the Proper Gold award from the government of Indonesia.
The RUPTL or Rencana Usaha Penyediaan Tenaga Listrik is Indonesia's electricity business plan. It contains demand forecasts, future expansion plans, electricity production forecasts, fuel requirements and indicates which projects are planned to be developed by PLN and independent power project investors.
Visit source siteAnd alas Energy And PowerMOUPups FieldPT Pertamina Power IndonesiaIndonesiaSiemens AG