UPC Renewables Indonesia Ltd along with its local development partner PT Binatek Reka Energi, has signed a Memorandum of Understanding (MoU) between The Directorate of Various New Energy and Renewable Energy, Directorate General of New Renewable Energy and Energy Conservation of the Ministry of Energy and Mineral Resources of the Republic of Indonesia on the development of the 50 MW Samas Beach Wind Farm, Bantul, Yogyakarta Province, Java.
The MoU contemplates, amongst other things, a joint feasibility study to be conducted on the project and assistance from the Ministry in obtaining the necessary permits and consents on the production of a mutually acceptable feasibility study.
The agreement for the power purchase has yet to be signed, however and initial offered has been presented by UPC. The offer would allow for a purchasing period of 30 years at a price of Rp1,200/kWh (US$0.13) for the first 20 years and Rp700/kWh beyond that.
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