GE taps into Indonesian steam

JAKARTA, Nov. 4 (UPI) -- GE Energy Financial Services in a novel investment outside the United States loaned $50 million to an Indonesian power company for a geothermal energy plant.

The GE division announced the loan for the Wayang Windu plant located 125 miles southeast of Jakarta. The company said Indonesia has the potential to produce huge amounts of energy using geothermal resources, though only 5 percent is utilized currently.

The Wayang Windu plant will produce 220 MW of energy using underground reserves of steam and hot water to turn conventional steam turbines to produce electricity in a high-pressure system.

James Berner, the Asia chief of GE Energy Financial Services, described the Indonesian project as ideal for the long-term goals of the company.

"It illustrates two strategic themes for GE: the rise of Indonesia and the growth of renewable energy in our 'ecomagination' program," he said.

The Indonesian government plans to produce 9,500 MW of geothermal energy by 2025, which would make up for about 6 percent of the country's total energy consumption.

GE said it has plans for further expansion in Java, Madura and Bali.