Tata Power-Origin Energy-Supraco Consortium wins geothermal bid in Indonesia

Sorik Marapi geothermal project in Northern Sumatra, Indonesia.

Tata Power, India’s largest integrated private power company, today announced that the consortium comprising of Tata Power (47.50%), Origin Energy Limited (47.50%) and PT Supraco Indonesia (5%) were declared as the successful bidder for the Sorik Marapi geothermal project in Northern Sumatra, Indonesia.

The Sorik Marapi project is estimated to support the development of approximately 240 MW of geothermal generation capacity. The project will be developed by PT Sorik Marapi Geothermal Power (“SMGP”), a Special Purpose Vehicle formed by the Consortium. The Consortium would undertake a detailed exploration programme over the next 18 months. The expected Commercial Operation Date (COD) for the project is June 2015.

Speaking on the occasion, Mr. Prasad R Menon, Managing Director, Tata Power said, “Tata Power is happy that its efforts to explore new avenues in the renewable space is moving on a steady path and in the right direction. Tata Power has a strong mission to achieve at least 25% of its generation portfolio through renewable sources of energy by 2017, geothermal energy being one of the prime renewable growth engines. The Sorik Marapi exploration is testament to our faith in the untapped potential of geothermal energy. I would like to take this opportunity to congratulate the entire team that has put in their relentless efforts during the bidding process. Our association with Origin Energy has been fruitful and rewarding. This is in line with our overall growth strategy to build global relationships and partnerships with organizations which are leaders in their field.”

Origin’s Executive Director, Finance and Strategy, Ms. Karen Moses said “The Joint-Venture is consistent with Origin’s strategy of pursuing exploration opportunities for energy resources near growing markets. This joint venture is reflective of our belief that geothermal can provide large scale renewable base load energy.”

Indonesia is situated on the Pacific ‘Ring of Fire’ and is expected to have approximately 27,000 MW of potential conventional geothermal resources (considered the largest in the world). Indonesia currently has 1196 MW in geothermal generation in operation.

Tata Power with generation capabilities in Hydro, Thermal, Solar and Wind energy has nearly 3000 MW in operation with an additional 5500 MW in construction. Tata Power has a 10% stake in Geodynamics Ltd., a listed Australia-based organization specializing in geothermal energy and Enhanced Geothermal Systems (EGS). Along with Geodynamics, Tata Power is reviewing the potential of geothermal prospects outside Australia to secure a foothold in the growing renewable energy markets. Tata Power is committed to investments in the energy and utilities space in Indonesia.

About Tata Power:

Tata Power is India’s largest private sector power utility with an installed generation capacity of over 2900 MW and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. The Company has successful public-private partnerships in Generation, Transmission and Distribution – “North Delhi Power Limited” with Delhi Vidyut Board for distribution in North Delhi, ‘Powerlinks Transmission Ltd.’ with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and ‘Maithon Power Ltd.’ with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. It has acquired 30% stake in Coal Companies at Indonesia and is developing the first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With its track record of technology leadership, customer care and redefining contours of the Indian power sector, Tata Power is poised for a five-fold growth and committed to ‘lighting up lives’ for generations to come. For more information go to www.tatapower.com

About Origin Energy

Origin Energy is Australasia’s leading integrated energy company focused on gas and oil exploration and production, power generation and energy retailing. Listed in the ASX top 20 the company has approximately 4,000 employees, is a leading producer of gas in eastern Australia, is the largest owner and developer of gas-fired electricity generation in Australia and is a leading wholesaler and retailer of energy. The company services more than 3.5 million electricity, natural gas and LPG customers across Australia, New Zealand and the Pacific. Origin’s strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth in the ever changing energy industry. Through Australia Pacific LNG, its 50:50 incorporated joint venture with ConocoPhillips, Origin is developing one of Australia’s largest CSG to LNG projects based on Australia’s largest CSG reserves base.

In New Zealand, Origin is the major shareholder in Contact Energy, the country’s leading integrated energy company, operating geothermal, thermal and hydro generation facilities and servicing electricity, gas and LPG customers across both the North and South islands. Origin also operates several oil and gas projects in New Zealand and is one of the largest holders of petroleum exploration acreage in the country. Origin has a strong focus on ensuring the sustainability of its operations, is the largest green energy retailer in Australia and has significant investments in renewable energy technologies. For more information go to www.originenergy.com.au

About Supraco:
PT. Supraco Indonesia has an established reputation as one of the prominent player in Indonesian oil and gas industry and provides local service to many foreign oil and gas companies in Indonesia.

Supraco had expanded its business activities to many areas in oil and gas service sectors: Integrated Logistic Base Management, Offshore Crane Supply and Maintenance, Offshore Drilling, Car and Heavy Equipment Rental Service, Maintenance of Production Service Facilities, Manpower and Expatriate Management Services, and many others mainly in operation support area.