Marubeni Corp. said Tuesday its joint venture in Indonesia has signed a contract to sell geothermal power to the state-run utility PT. PLN for 30 years.
PT. Supreme Energy Rantau Dedap, funded by Marubeni, Indonesia's PT. Supreme Energy and France's GDF Suez S.A., plan to open a 220,000 kw geothermal power plant in the Rantau Dedap area in the southern part of Sumatra Island by 2016.
The cost of the project is estimated at about $900 million.