Bhimasena signs amendment of PPA for Batang power project
Thursday, April 14 2016 - 01:34 AM WIB
PT Bhimasena Power Indonesia (BPI), which is developing the giant 2x1,000 MW Batang power plant project in Central Java, has signed an amendment of the power purchase agreement (PPA) for the project with state-owned electricity firm PT PLN, Kontan reported on Thursday.
The paper said that the amendment is a condition for an extension of the deadline for the financial close of the project to June 6, 2016.
BPI is a consortium comprising of J-Power, Itochu Corp, and PT Adaro Power, which is fully owned by IDX-listed coal giant PT Adaro Energy Tbk.
BPI President Director Mohammad Effendi said that the company needs additional time to complete the financial closure due to previous delays in the completion of land acquisition for the project.
Following the recent completion of the land acquisition process, the Batang power plant project has currently entered the pre-construction phase. (*)