ABM Investama unit to develop mini hydro power plants

PT Sumberdaya Sewatama, a subsidiary of IDX-listed integrated energy firm PT ABM Investama Tbk, plans to invest US$29 million to develop two mini hydro power plants in South Sulawesi, Kontan daily reported on Wednesday.

The paper quoted Hasto Kristiyono, President Director of Sewatama, as saying that construction of the plants, each with a capacity of 9 MW and 5.5 MW, is scheduled to start in the middle of this year, with hope that it could be completed by the end of next year. ?Each MW is estimated to cost about $2 million,? he said.

Hasto said that his company was currently finalizing the power purchase agreement with state-owned electricity firm PLN.

Going forward, Sewatama plans to build six other similar power plants in the province, but they are all still at feasibility study stage. (*)