On the 14th, INPEX <1605.T> announced that through its geothermal subsidiary INPEX Geothermal Development, it has participated in a joint investment with Sumitomo Corporation <8053.T> and the Indonesian private power project development company Supreme Energy in Supreme Energy Muara Laboh (SEM Corporation), which holds the geothermal mining area and geothermal business license, and made a final investment decision regarding the expansion development of the Muara Laboh geothermal power project currently operating in Indonesia.
The project will expand the existing generation capacity of approximately 85 megawatts by an additional 83 megawatts, selling electricity to the state-owned electricity company of Indonesia until 2052. Project funding will be secured through project financing, which includes a cooperative loan from the International Bank for Cooperation (JBIC), Asian Development Bank (ADB), Mizuho Bank <8411.T>, Sumitomo Mitsui Banking Corporation <8316.T>, Mitsubishi UFJ Bank <8306.T>, and Hyakugo Bank <8368.T>, in addition to equity contributions.
As of 3:26 PM, the stock price is 1,978.5 yen, up 28.5 yen from the previous weekend.
Provided by Wealth Advisor Company.
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