Additional Information
Market:ASX
Sector:Alternative Energy
EPIC:GER
Latest Price: 0.06  (0.00%)
52-week High:0.15
52-week Low:0.05
Market Cap:5.13M
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Greenearth Energy Full Greenearth Energy profile here

Greenearth Energy (ASX: GER) is a diversified Australian renewable energy company that has interests in conventional geothermal resources in Australia, Indonesia and the wider Pacific Rim.

 

The company also has technology opportunities and project applications in the waste heat recovery, energy efficiency, combined heat and power solar, and CO2 to fuel conversion markets.

Greenearth Energy reports on PT. Geo Power Indonesia's production plans

Monday, July 05, 2010
Greenearth Energy reports on PT. Geo Power Indonesia's production plans

Greenearth Energy (ASX: GER) has reported that PT. Geo Power Indonesia has signed a non binding Memorandum of Understanding (MoU) with the Cengiz Holding of Turkey to develop a Java based site in Indonesia for the production of geothermal power.

Greenearth Energy's 100% wholly owned subsidiary Greenearth Power Pty Ltd has a 40% interest in PT. Geo Power Indonesia.

The Turkish based Cengiz Holding's operates in numerous fields of business including Construction, Energy, Mining and Tourism. Within the Energy sector, Cengiz Holding has a successful track record in building and operating coal, natural gas and hydroelectric power generation infrastructure.

Greenearth Energy, along with fellow PT. Geo Power Indonesia partners Jakarta based Santini Group and North American based International Investment Resources LLC, "looks forward to working with Cengiz Holding."

Over the next 90 days, Cengiz Holding will complete due diligence before moving to a formal agreement.

Mark Miller, managing director, said Greenearth Energy believes this dynamic group collective have the skills, experience and track record to successfully deliver Geothermal Power development in Indonesia.

The group's Java based site in Indonesia has the potential to deliver several hundred megawatts (MW) of base load, zero emissions Geothermal Power.

Last December Greenearth Energy was awarded both a $7 million grant from the Australian Government and a $25 million grant from the Victorian Government for its vanguard Geelong Geothermal Power Project in Victoria, a project that has the potential of providing emissions-free baseload renewable power.

Greenearth Energy shares rose 5.56% to 9 cents in trading today.

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