GEOTHERMAL POWER PLANT DEVELOPMENT IN INDONESIA

DIRECTORATE GENERAL OF NEW RENEWABLE ENERGY AND ENERGY CONSERVATION MINISTRY OF ENERGY AND MINERAL RESOURCES GEOTHERMAL POWER PLANT DEVELOPMENT IN I...
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DIRECTORATE GENERAL OF NEW RENEWABLE ENERGY AND ENERGY CONSERVATION

MINISTRY OF ENERGY AND MINERAL RESOURCES

GEOTHERMAL POWER PLANT DEVELOPMENT IN INDONESIA by:

Jarman Directorate General of New, Renewable Energy and Energy Conservation

Presented at: “Forum for East Asia-Latin America Cooperation” November 13th, 2012 Tokyo, Japan

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

OUTLINE I. II. III. IV. V.

Background Geothermal Policy Geothermal Program Geothermal Development Investment Opportunities

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

I. Background

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Direktorat Jenderal EBTKE

BACKGROUND 

Geothermal is a thermal energy that naturally formed beneath the earth's surface;



Geothermal energy is a green energy because it produces lower green house gasses (GHG) than fossil fuel. In addition, when managed properly, geothermal is also consider as a renewable energy;



Geothermal energy is site specific, can not be stored, and also can not be transported;



Implementation of geothermal activity in line with the mandate of the Law 1945;



Geothermal utilization are in forms of direct and indirect use;



Authority for geothermal management distributed to Minister, The Governor, and/or Regent/Mayor in accordance with their authority.

Constraints and Barriers: 

Pricing Electricity price from geothermal energy still considers has not reached its economical value;



Land-use Issues Geological Agency has been identified that more than 70% of geothermal areas are partially or completely overlapping with forestry areas (conservation forest, protected forest and production forest)

Direktorat Jenderal BACKGROUND EBTKE

Direktorat Jenderal Energi Baru, Terbarukan dan Konservasi Energi Kementerian Energi dan Sumber Daya Mineral

CURRENT ENERGY CONDITION 1. Electrification ratio in 2011 is 72,95%;

2011

2025

2. Energy consumption growth is 7% per year, which not balance with energy suppy;

Gov. Reg. NO. 5/2006

3. The dependence on fossil energy is high, but the energy reserve is limited;

Oil 20 %

4. Fossil subsidy is increasing; 5. The utilization of renewable energy and implementation of energy conservation has not been optimized;

Gas 30 %

NRE 17 %

Oil 49,7 %

6. Link with environmental issue: a. Climate change mitigation; b. Clean energy initiative: National commitment to reduce emission by 26% in 2020;

7. Funding for energy development is limited

Gas 20,1 %

Coal 24,5 %

Coal 33 %

NEP Draft By NEC NRE 5,7 %

Oil 23,7 %

Gas 19,7 %

NRE 25,9 %

Note: NRE = New and Renewable Energy NEP = National Energy Policy NEC = National Energy Council

Coal 30,7 %

Direktorat Jenderal BACKGROUND EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

GEOTHERMAL POTENTIAL

RESOURCES (MWe) Speculative Hypothetical 8.231

4.964

RESERVE (MWe)

%

45.17%

Possible

Probable

Proven

12.909

823

2.288

13.195

16.020

29.215

Source : Geological Survey, MEMR(2011)

%

Note: 54.83%

Preliminary Survey

Ready to Developad

Detail Survey

Already Developed

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

II. Geothermal Policy

Direktorat Jenderal EBTKE

Direktorat Jenderal Energi Baru, Terbarukan dan Konservasi Energi Kementerian Energi dan Sumber Daya Mineral

Direktorat Jenderal EBTKE

GEOTHERMAL POLICY Policy Directions: • The paradigm of national energy management is shifting from Supply Side Management to demand side management Management; • Supply Side Management on fossil focused energy sources; • Demand Side Management focused on optimizing energy efficiency and new renewable energy sources; • The Law No. 30/2007 on Electricity, emphasis on diversification and energy conservation. Opportunities:

• Environmental issues and sustainable development; • A paradigmatic shifting in the management of the national energy; • Indonesia has huge of renewable energy potential;

• High potential for energy savings.

Direktorat Jenderal Energi Baru, Terbarukan dan Konservasi Energi Kementerian Energi dan Sumber Daya Mineral

Direktorat Jenderal EBTKE

GEOTHERMAL POLICY 1. Revision of Law 27/2003 on Geothermal:

GoI is revising the law 27/2003 on Geothermal, law 5/1990 on Conservation of Natural Resources, and law 41/1999 on Forestry. 2. MoU Between MEMR – Minister of Forestry MEMR and Minister of Forestry have signed MoU regarding the acceleration of geothermal utilization permit within production forest, protected forest, and conservation forest . 3. Feed-in Tariff: Feed-in Tariff is a Government policy to set the price of electricity from geothermal power plant which is final and can not be negotiated by PT. PLN 4. Funding incentives : • Government guarantee on the feasibility of PT. PLN; • “Geothermal Fund" for geothermal exploration; • Green Banking Program. 9

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Direktorat Jenderal EBTKE

III. Geothermal Program

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

GEOTHERMAL PROGRAM POWER PLANT DEVELOPMENT 2010 – 2015

Development

2010

2011

2012

2013

2014

2015

37

115

3

375

1.797

1.226

1.341

1.344

1.719

3.516

Geothermal Development 1. Added Capacity (MW) 2. Installed Capacity (MW)

1.189

Note: - Capacity Factor of Geothermal Power Plant = 90%

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

GEOTHERMAL WORKING AREA FOR TENDER No

Geothermal Working Area (GWA)

Location

Potential Capacity (MW)

1

Gn. Talang

West Sumatera

36

2

Songa Wayaua

North Maluku

140

3

Danau Ranau

Lampung & South Sumatera

210

4

Mataloko

East Nusa Tenggara

63

5

Gn. Endut

Banten

80

6

Way Ratai

Lampung

105

7

Candi Umbul Telomoyo

Central Java

72

8

Simbolon Samosir

North Sumatera

155

9

Bora Pulu

Central Sulawesi

123

10

Gn. Lawu

Central Java

195

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

PRELIMINARY SURVEY ASSIGNMENT’S AREA 2012 No

Geothermal Working Area (GWA)

District/ City

Province

1

Gn. Hamiding

West Halmahera, North Halmahera

North Maluku

2

Pentadio

Gorontalo, Bone Bolango, Gorontalo City'

Gorontalo

3

Graho Nyabu

Merangin, Kerinci, Muko-Muko

Jambi and Bengkulu

4

Gn. Wilis

Ponorogo, Madiun, Nganjuk, Kediri, Tulungagung, Trenggalek

East Java

5

Gn. Geureudong

Central Aceh, Bener Meriah, North Aceh

Nanggroe Aceh Darussalam

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Direktorat Jenderal EBTKE

IV.Geothermal Development

Distribution of GWA

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

GEOTHERMAL DEVELOPMENT Total : 58 GWA ACEH 2 WKP  Jaboi: 70 MW  Seulawah Agam: 130 MW NORTH SUMATERA 5 WKP  Sibayak – Sinabung: 130 MW  Sibual – Buali: 750 MW  Sipaholon Ria-ria: 75 MW  Sorik Marapi: 200 MW  Simbolon Samosir : 155 MW

NORTH SULAWESI 2 WKP  Kotamobagu: 410 MW  Lahendong-Tompaso: 358 MW GORONTALO 1 WKP  Suwawa: 110 MW

JAMBI 1 WKP  Sungai Penuh: 70 MW

NORTH MALUKU 2 WKP  Jailolo: 75 MW  Songa Wayaua: 140 MW

SOUTH SUMATERA 3 WKP  Lumut Balai: 250 MW  Rantau Dedap: 106 MW  Danau Ranau: 210 MW

WEST SUMATERA 4 WKP  Bukit Kili: 83 MW  Gn Talang: 35 MW  Liki Pinangawan: 400 MW  Bonjol: 200 MW

BANTEN 2 WKP  Kaldera Danau Banten: 115 MW  G. Endut: 80 MW

BENGKULU 2 WKP  Tmbg Sawah-Hululais: 873 MW  Kepahiang: 180 MW LAMPUNG 4 WKP  Gn.Rajabasa: 91 MW  Suoh Sekincau: 230 MW  Waypanas – Ulubelu: 556 MW WEST JAVA 10 WKP  Ciater - Tgkban Perahu: 60 MW  Danau Ranau: 210 MW  Cibeureum–Parabakti: 485 MW  Way Ratai :105 MW  Cibuni: 140 MW  Cisolok Cisukarame: 45 MW  Gn. Tampomas: 50 MW  Gn. Tgkuban Perahu: 100 MW  Kamojang-Darajat: 1465 MW  Karaha Cakrabuana: 725 MW  Pangalengan: 1106 MW  G. Ciremai: 150 MW

CENTRAL SULAWESI 2 WKP  Marana: 35 MW  Bora Pulu : 152 MW

BALI 1 WKP  Tabanan: 276 MW

CENTRAL JAVA 5 WKP  Baturaden: 175 MW  Dataran Tinggi Dieng: 780 MW  Guci: 79 MW  Gn. Ungaran: 100 MW  Umbul Telomoyo : 120 MW

MALUKU 1 WKP  Tulehu: 100 MW WEST NUSA TENGGARA 2 WKP  Hu'u Daha: 65 MW  Sembalun: 100 MW

EAST JAVA 3 WKP  Blawan – Ijen: 270 MW  Gn. Iyang Argopuro: 295 MW  Telaga Ngebel: 120 MW  Gn. Lawu: 195 MW

EAST NUSA TENGGARA 5 WKP  Atadei: 40 MW  Sokoria: 30 MW  Ulumbu: 199 MW  Mataloko: 63 MW  Oka Ile Ange: 40 MW

15 ©2012

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

GEOTHERMAL DEVELOPMENT TARGET (2010 - 2014)  Presidential Regulation No. 04/2010 on Assignment to PT. PLN to Accelerate Power Plant Development Using Renewable Energy, Coal and Gas  MEMR Regulation No. 01/2012 as revised in Ministerial Regulation No. 15/2010 on Projects List of Power Plant Accelerated Development using Renewable Energy, Coal and Gas as well as Related Transmission  Target for Geothermal Power Plant Development on Crash Program 10.000 MW Phase II  Existing field (on Production Phase)

 Existing field (not on Production Phase)  New Geothermal Working Area Total of Geothermal Development

: 465 MW : 1535 MW : 2925 MW 4925 MW

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Direktorat Jenderal EBTKE

V. Investment Opportunities

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Direktorat Jenderal EBTKE

INVESTMENT OPPORTUNITIES 

The development of 4,925 MW electricity from Geothermal in Second Phase Crash Program 10,000 MW up to the year 2014 requires more than US$ 14,000 millions for the investment.



The development plan of 12,000 MW Geothermal Power Plant up to the year 2025, international supports are needed.



Foreign ownership in Geothermal Business is allowed up to 95 %;



Access to Potential Geothermal Resources for Investors: - Preliminary Survey Assignment - Participate in the geothermal business through GWAs tendering mechanism



Other business opportunities in geothermal sector:  Geothermal direct use;  Low temperature geothermal potential;  Small scale power plant;  CER under CDM Scheme;  Services company to support the core business of geothermal.

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Direktorat Jenderal EBTKE

Thank You

Go Green Indonesia ! green energy, future energy

MINISTRY OF ENERGY AND MINERAL RESOURCES REPUBLIC OF INDONESIA

DIRECTORATE GENERAL OF NEW, RENEWABLE ENERGY, AND ENERGY CONSERVATION Jalan Jenderal Gatot Subroto, Kav. 49 Jakarta 12950; Telp: 021-52904235; 5250575; Faks: 021-25529106; 25529212

Email: [email protected] ; [email protected]

www.ebtke.esdm.go.id

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

INSTALLED GEOTHERMAL POWER PLANT CAPACITY 2012 No.

Geothermal Working Area/ Location

License Holder

Developer

Power Plant

Installed Capacity (MW)

1

Sibayak – Sinabung, NORTH SUMATERA

PT. Pertamina Geothermal Energy (PGE)

PT. Pertamina Geothermal Energy (PGE)

Sibayak

12

2

Cibeureum – Parabakti, WEST JAVA

PT. Pertamina Geothermal Energy (PGE)

KOB - Chevron Geothermal Salak, Ltd (CGS)

Salak

377

3

Pangalengan, WEST JAVA

PT. Pertamina Geothermal Energy (PGE)

KOB - Star Energy Geothermal Wayang Windu, Ltd (SEGWWL)

Wayang Windu

227

4

Kamojang – Darajat, WEST JAVA

PT. Pertamina Geothermal Energy (PGE)

PT. Pertamina Geothermal Energy (PGE)

Kamojang

200

5

Kamojang – Darajat, WEST JAVA

PT. Pertamina Geothermal Energy (PGE)

KOB - Chevron Geothermal Indonesia, Ltd (CGI)

Darajat

270

6

Dataran Tinggi Dieng, CENTRAL JAVA

PT. Pertamina Geothermal Energy (PGE)

PT. Geo Dipa Energi (GDE)

Dieng

60

7

Lahendong – Tompaso, NORTH SULAWESI

PT. Pertamina Geothermal Energy (PGE)

PT. Pertamina Geothermal Energy (PGE)

Lahendong

80

8

Ulubelu, LAMPUNG

PT. Pertamina Geothermal Energy (PGE)

PT. Pertamina Geothermal Energy (PGE)

Ulubelu

55 1.281

20

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

GEOTHERMAL VALUE CHAIN (Current Regulations)

(S-2)

(S-3)

(S-4)

(S-5)

(S-6)

WKP-N

IUP-N

Report

Survey APBN

Report

Evaluation

WKP

Production/ Utilization

(S-7)

(S-8)

(S-9)

(S-10)

Exploitation

(S-1)

FS

FS

IUP Issuance

Exploration

WKP Tendering

Exploitation

WKP Determination

Exploration

MEMR

Potential Map

Pre-Survey

Electricity Price

(S-0)

BUSINESS STADIUM (S-X) Report of Tendering Process

Units

Geothermal Potential

Potential/ Stadium

(S4-N)

(S3-N) Tender Winner

Survey APBD Prov.

WKP-P

Local Govmt. (Regent/ City)

Survey APBD Kab./ Kota

WKP-K

Corporation

PLN

IUP-P

(S3-P) Tender Winner

(S4-P)

IUP-K

(S3-K)

(S4-K)

Tender Winner

Assignment Other Parties

Production/ Utilization

Prov. Govmt.

Assignment PPA

©2012

© DJEBTKE – KESDM 2012

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Road Map of Geothermal Development 2006 – 2025 (based on Presidential Decree No. 5/2006 on National Energy Policy)

2006

2008

852 MW (Produksi)

2000 MW

1148 MW Existing WKP

2012

2016

2020

2025

3442 MW

4600 MW

6000 MW

9500 MW (Target)

1442 MW Existing WKP

1158 MW Existing WKP + New WKP

1.281 MW Current Condition

1400 MW New WKP

3500 MW New WKP

Direktorat Jenderal EBTKE

GEOTHERMAL POWER PLANT PROJECTS INCLUDED IN CRASH PROGRAM PHASE II (Based on MEMR Regulaton No. 01/2012)

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

GEOTHERMAL POWER NO. PLANT PROJECT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

Sungai Penuh Hululais Kotamobagu 1 and 2 Kotamobagu 3 and 4 Sembalun Tulehu Tangkuban Perahu I Kamojang 5 and 6 Ijen Iyang Argopuro Ngebel Gunung Endut Rawa Dano Cibuni Cisolok-Cisukarame Karaha Bodas Patuha Tampomas Tangkuban Perahu II Wayang Windu Unit 3 and 4 Gunung Ciremai Baturaden Dieng Guci Ungaran Seulawah Agam

STATUS Existing WKP Existing WKP Existing WKP Existing WKP Open Area Existing WKP New WKP Existing WKP New WKP Existing WKP New WKP New WKP New WKP Existing WKP New WKP Existing WKP Existing WKP New WKP Existing WKP Existing WKP New WKP New WKP Existing WKP New WKP New WKP New WKP

PROVINCE

ESTIMATION OF CAPACITY (MW)

Jambi Bengkulu North Sulawesi North Sulawesi West Nusa Tenggara Maluku West Java West Java East Java East Java East Java Banten Banten West Java West Java West Java West Java West Java West Java West Java West Java Central Java Central Java Central Java Central Java Aceh

2x55 2x55 2x20 2x20 2x10 2x10 2x55 1 x30 1 x60 2x55 1 x55 3x55 1 x55 1 x 110 1 x 10 1 x50 1 x30 2x55 3x60 1 x45 2x30 2x 110 2 x 55 2x 110 1 x55 1 x60 1 x55 1 x55 1X55

GEOTHERMAL POWER NO. PLANT PROJECT 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51

Jaboi Sarulla 1 Sarulla 2 Umbul Telumoyo Simbolon Samosir Sipoholon Ria-Ria Sorik Marapi Muaralaboh Bonjol Lumut Balai Rantau Dadap Rajabasa Ulubelu 3 and 4 Suoh Sekincau Wai Ratai Danau Ranau Lahendong 5 dan 6 Bora Marana/Masaingi Hu'u Atadei Sokoria Mataloko Jailolo Songa Wayaua

STATUS New WKP Existing WKP Existing WKP New WKP Open Area New WKP New WKP New WKP New WKP Existing WKP New WKP New WKP Existing WKP New WKP Open Area New WKP Existing WKP Open Area New WKP New WKP New WKP New WKP New WKP New WKP New WKP

TOTAL PLANNED INSTALLED CAPACITY

PROVINCE

ESTIMATION OF CAPACITY (MW)

Aceh North Sumatera North Sumatera Central Java North Sumatera North Sumatera North Sumatera West Sumatera West Sumatera South Sumatera South Sumatera Lampung Lampung Lampung Lampung Lampung North Sulawesi Central Sulawesi Central Sulawesi West Nusa Tenggara East Nusa Tenggara East Nusa Tenggara East Nusa Tenggara North Maluku North Maluku

2x5 3x 110 2x55 1 x55 2x55 1 x55 240 (Total) 2x 110 3x55 4x55 2x110 2x110 2x55 4x55 1 x55 2x55 2x20 1 x5 2x10 2x10 2 x2,5 3x5 1 x5 2x5 1 x5

4925

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Implementation of Geothermal Policies Existing GWA

New GWA

 President Decree No 45/1991, No 49/1991,

 Law No. 27/2003

 Business structure based on JOC and ESC

 Business structure in the form of Permit:

 34% of Net Operating Income (NOI), that had

 Obligation to pay for taxes and royalty

 Project Management : Under Pertamina (JOC)

 Project Management : Under Permit Holder

 Project Type:

 Project Type:

and No 23/1992

 

Geothermal Mining Permit Enterprise Permit for Electricity

included all kinds of taxes and retribution, except personal tax. and PLN (ESC)

 

Total (Integrated) Project Partial Project

Total (Integrated) Project GWA holder will be granted as generally plan operation

24

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Direktorat Jenderal EBTKE

GEOTHERMAL REGULATION 1.

Law No. 27/2003 on Geothermal

2.

Government Regulation (GR) No. 59/2007 on Geothermal Business Activities, as amanded in GR No. 70/2010

3.

GR No. 62/2008 jo. GR No. 1/2007 on Income Tax Facilities for Investment in Certain Business Areas and / or in Specific Regions

4.

GR No. 9/2012 on Types And Tariffs On Non-tax State Revenue Applicable to The Ministry Of Energy And Mineral Resources

5.

Presidential Regulation No. 04/2010 on Assignment to PT. PLN (Persero) to Accelerate The Development of Power Plant from Renewable Energy, Coal and Gas

6.

Ministry Regulation (MR) of Minister Energy And Mineral Resources 1) MR No. 11/2008 on the Procedure for Determination Geothermal Working Area 2) MR No. 02/2009 on Guidelines for Geothermal Preliminary Survey Assignment (as amendment of MR. 05/2007) 3) MR No. 11/2009 on Guidelines for Implementation of Geothermal Business , jo. MR No. 18/2012

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Direktorat Jenderal EBTKE ..Continue

4) MR No. 01/2012 on Revision of MR No. 15/2010 on The List of Power Plant Acceleration Projects Using Renewable Energy, Coal, and Gas and Related Transmission 5) MR No. 22/2012 on Assignment to PT PLN (Persero) to Purchase Electricity from Geothermal Power Plant and Geothermal Power Purchase Benchmark Price by PT PLN (Persero) 7.

Ministry Regulation of Minister of Finance 1) No. 139/PMK.011/2011 on Procedures for Granting Business-Feasibility Guarantee to PT PLN (Persero) for The Development or Renewable Energy, Coal and Gas-Fueled Power Plants Through Cooperation With The Independent Power Producers 2) No. 03/PMK.011/2012 on Procedures for the Management and Accountability Geothermal Facility Fund

Direktorat Jenderal EBTKE

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

GEOTHERMAL FEED-IN TARIFF No

Area

1 2

Sumatera Java, Madura and Bali South Sulawesi, West Sulawesi, and Southeast Sulawesi North Sulawesi, Central Sulawesi, and Gorontalo West Nusa Tenggara, and East Nusa Tenggara Maluku and Papua

3 4 5 6

Price (cent US$/kWh) High Medium Voltage Voltage 10 11,5 11 12,5 12 13,5 13

14,5

15

16,5

17

18,5

Ministry of Energy and Mineral Resources Directorate General of New Renewable Energy and Energy Conservation

Feed in Tariff Mechanism The Feed-in Tariffs mechanism will be applied to : a. geothermal license holders (IUP holder) after the issuance of Minister Regulation No. 22/2012; b. mining right holders, license holder or concession holder that existed before the enactment of Law No. 27 Year 2003 on Geothermal who already have Power Purchase Agreement (PPA), which will increase power plant capacity on the existing agreement (PPA); c. mining right holders, license holder or concession holder that existed before the enactment of Law No. 27 Year 2003 on Geothermal who will extend their expired PPA; d. mining right holders, license holder or concession holder that existed before the enactment of Law No. 27 Year 2003 on Geothermal who already have PPA, for both who have produced or not yet produced electricity or steam, as long as all parties involved agree upon the amendment on sales price of electricity or steam; or e. IUP holder who will undertake PPA, as long as agreed by the parties involved and allowed by PPA to be agreed by the parties. ©2012

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