Construction progress of PLTU Cilacap power project exceeds 30%

By Thomas Sembiring

Construction progress of the 1x1,000 MW PLTU Cilacap coal-fired power plant project in Central Java has exceeded 30 percent, according to a senior official of state-owned electricity firm PT PLN.

?Construction progress of the PLTU Cilacap expansion (project) is quite rapid,? PLN Director of Strategic Procurement 2, Supangkat Iwan Santoso told Petromindo.com on Thursday, but did not provide further details.

The project, which is an expansion of the existing PLTU Cilacap, is being developed by PT Sumber Segara Primadaya (S2P), a company 51 percent owned by PT Sumberenergi Sakti Prima (SSP) and 49 percent by PT Pembangkit Jawa-Bali (PJB), a subsidiary of PLN. Construction started in October of last year and is targeted for completion in 2019.

A power purchase agreement for the project was signed on October 30 of 2015, and financial close was reached on September 19, 2016. Lenders for the US$1.39 billion project include Bank Rakyat Indonesia, China Development Bank, and Bank of China.

Editing by Reiner Simanjuntak