SBS Energi Kelautan (SBSEK) has reached the final investment decision (FID) for the first phase of the Nautilus project that will use tidal turbines supplied by Atlantis Resources.
The FID with private equity investors for the first 12MW phase of the project was secured on October 5, 2017, according to SBSEK, an Indonesia-based independent power producer and the owner of Nautilus tidal-stream project.
The first stage of the project, expected to be completed by the first quarter of 2020.
It involves the installation of eight 1.5MW tidal energy turbines, supplied by Edinburgh-based tidal energy developer Atlantis Resources.
The power produced from the project will be sold to Indonesia’s state-owned electrical utility company PT Perusahaan Listrik Negara (PLN), under the 30-year power purchase agreement.
SBSEK added it awarded a 36-month Engineering, Procurement, Construction, Installation and Management (EPCIM) contract to Scottish marine, subsea, and renewable energy project developer SBS.
The contract entails offshore surveys, completion of front end engineering (FEED), environmental impact assessment (EIA) studies, turbine/power cable manufacturing, turbine assembly, system integration testing and installation activities, SBSEK said.
Endrue Fasa , President Director of SBSEK, said: “I am delighted to have Indonesian equity partners and very grateful for the enthusiasm and support we continue to receive for this initial project from the Indonesian government, Energy Ministry and PLN, to be able to secure this proven, renewable energy technology for Indonesia from the UK and deliver clean and reliable, zero emission ocean-energy power to people with the highest electricity need in Indonesia’s Eastern Archipelago.”
SBS will direct the phased development works for SBSEK, whose first 12MW phase, will be followed progressively by site expansions to 70MW (Phase II), through 150MW (Phase III).
The project sites in Indonesia will be located in the straits around islands of Bali and Lombok.