The Ngebel Project is a large, 165 megawatt project consisting of three 55 megawatt geothermal power stations. The project has the potential to expand to more than 200 megawatts. It will be developed in a joint venture between Panax and Indonesian-owned company PT Bakrie Power, part of the listed Bakrie Group which is one of Indonesia’s largest companies. Electricity will be supplied to Indonesian state-owned power company PT PLN (Persero).

The Ngebel Project is strategically located directly under the main transmission grid in East Java and is underpinned by a guaranteed commercially attractive electricity tariff.

A considerable amount of exploration has been undertaken in the project area. The reservoir temperature is predicted at up to 200°C and is approximately 1,000 metres deep. Two 500 metre wells with temperatures of approximately 200°C have already flowed successfully.

Panax will fund the acquisition of existing data and reports about the project. Gathering this information will assist in the ongoing development of the project, and is expected to result in significant savings in both time and money.

Location East Java, Indonesia
Equity 35% - Panax as operator
Key features
  • 165 megawatt project with the potential to expand to more than 200 megawatts
  • Strategic location directly under main transmission grid
  • Guaranteed, commercially attractive power tariff of US$90 per megawatt hour
  • Excellent infrastructure
  • Electricity provided to Indonesian power company PT PLN (Persero)

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