New York, July 22, 2009 — Arrow Resources Development agreed with Four Crystal Funding and GTherm to build up to 200 50-MW geothermal power plants. The power plants will use GTherm technology and will be built and operated on Arrow properties in Indonesia. Four Crystal will invest $10 million in the project.
GTherm has agreed to build and maintain the plants, which will use the company’single well engineered geothermal system, or SWEGS, which eliminates many of the limiting factors present with current water-based enhanced geothermal systems.
GTherm technology uses components developed and tested at the U.S. Department of Energy and by United Technologies Corp. and is cost competitive with conventional fossil fuel electric power generation technologies.
The site for the initial geothermal 50 MW plant was chosen to coincide with the site of Arrow Resources Development and large-scale plantation farming and ethanol plants in Indonesia.