GLP to start site preparation for PLTU Sulbagut-1 project in August

By Tri Subhki R

Independent Power Producer PT Gorontalo Listrik Perdana (GLP), a subsidiary of IDX-listed PT Toba Bara Sejahtra Tbk, will soon start site preparation for the planned 2x50 MW PLTU Sulbagut-1 coal-fired power plant project in Gorontalo Province.

"The site preparation will start in August 2017 for the next six to eight months," Iwan Sanyoto, Toba Bara's Investor Relations, said to Petromindo.com recently.

GPL signed a power purchase agreement (PPA) with state-owned electricity firm PT PLN (Persero) on July 14, 2016 for the power plant project. The company completed financial close for the project one year later on July 14, 2017.

"Plant construction will commence in the first semester of 2018 and expected to complete in the first semester 2020," Iwan said.

Iwan added that the coal-fired power plant will consume 600,000 to 650,000 tons of coal per year and the coal supply will come from South Kalimantan and East Kalimantan.

GLP is 60 percent owned by Toba Bara Sejahtra, 20 percent by Shanghai Electric Power Construction Co Ltd, and 20 percent by PT Toba Sejahtra.

The PLTU Sulbagut-1 project forms part of Toba Bara?s diversification strategy into power plant business as it aims to become an integrated energy firm by 2020. Toba Bara also plans to develop PLTU Sulut-3 project in Minahasa Utara Regency, North Sulawesi Province.

Editing by Reiner Simanjuntak