Kaishan Group (300257.SZ) announced that from December 12 to 15, 2024, the company's subsidiary S...
According to the Zhituo Finance APP, Kaishan Group (300257.SZ) announced that from December 12-15, 2024, its subsidiary SorikMarapi Geothermal Energy Co., Ltd. (referred to as “SMGP”) completed the 72-hour Rated Capacity Test (URC) for the fifth unit. Based on the Power Purchase Agreement between SMGP and the Indonesian National Grid Company (referred to as “PLN”), as well as the URC report signed by PLN headquarters, SMGP confirmed that the fifth unit officially commenced commercial operation at 00:00 local time on December 28, 2024 (01:00 Beijing time), with a net power generation capacity of 31.34 megawatts. The purchase agreement stipulates that after the commissioning of each unit, a 72-hour rated capacity test needs to be conducted annually. In this instance, SMGP conducted the rated capacity test for the five-phase units, achieving a total net power generation capacity of 177.57 megawatts.
The achievement of COD for the SMGP Phase V power station marks a significant milestone towards the company’s vision of becoming a global leader in the operation of geothermal power stations and a supplier of complete equipment, with the SMGP geothermal project joining the global '200MW (gross) geothermal power station club.' Meanwhile, as the V platform that provides resources for the Phase V power station has found a new geothermal lake, SMGP has begun applying to the Indonesian Ministry of Forestry for a new permit. Once the drilling permit is obtained, S platform will be constructed in the forest protection area to drill new geothermal production wells, allowing for the discovery of more resources to increase the power generation capacity sold by SMGP.