Project Brief

project brief

 

Historical Milestone

1993
Unocal North Sumatra Geothermal (UNSG) signed JOC (with Pertamina) and ESC (with PLN)
1993-
1997
UNSG conducted drilling exploration in Silangkitang, Namora I Langit and Sibual Buali, acquired some part of lands and built office/warehouse
1998
Economic crisis occurred in Asia, UNSG decided to suspend Sarulla Project
2004
  • Deed of assignment was signed in February 2004 to legally hand over the project from UNSG to PLN
  • PLN tendered the project to power developers including Sarulla Consortium (Medco, Itochu, Ormat) submitted its bid
2006
PLN awarded the Sarulla Consortium to develop Sarulla Project
2007
PLN, PGE and Sarulla Consortium signed the first amendment of ESC/JOC. The Sarulla Consortium paid USD 70 Million to PLN upon financial close
2008-
2009
The Sarulla Consortium renegotiated the tariff due to the world finance crisis since the tariff was no longer feasible. Kyushu Electric was approved by the Government of Indonesia as an additional member of consortium
2011
Tariff adjustment (3 stage tariff) was approved by Ministry of Energy and Mineral Resources
2013
April 4,2013 PLN, PGE and Sarulla Consortium signed the second amendment of ESC/JOC for the tariff adjusment
2014
  • Sarulla Consortium signed Loan Agreement for the project with the lenders in March
  • Achieved financial close in May
  • Started the project construction in May
2015
Inpex joined Sarulla consortium in March
2017
  • Started to operate SIL Power Plant in March
  • Started to operate NIL-1 Power Plant in October
2018
Started to operate NIL-2 in May