Equis aims to complete solar power project in third quarter 2018
Thursday, August 3 2017 - 03:23 AM WIB
Singapore?s Equis Funds Group Pte Ltd (Equis), an investment firm which among others specializes in renewables and conventional power generation, said that its 15 MW solar power plant project in Likupang, North Sulawesi Province, is expected to be completed in the third quarter of next year.
The project will be developed by its subsidiary PT Infrastruktur Terbarukan Lestari, which on Wednesday signed a power purchase agreement (PPA) with state-owned electricity firm PT PLN along with 52 other independent power producers (IPPs) also planning to develop renewable-based power projects. Signing of the PPA will pave the way for the construction process.
?We?re targeting (for completion) next year, in the third quarter or early fourth quarter,? said Michael Djuita, Associate Director of Equis to Petromindo.com on the sidelines of the PPA signing ceremony.
Michael said that construction will take about eight months to complete. The company has prepared 30 hectares of land for the project, which is estimated to require total investment of US$30 million.
Editing by Reiner Simanjuntak