Indika mulls new power plant project

By Thomas R. Sembiring

IDX-listed integrated energy company PT Indika Energy Tbk is seeking to participate in the government?s plan to develop a combined 35,000 MW power plants over the next five years.

Indika President Director Wishnu Wardhana said on Tuesday that the company is considering to develop about 1,000 MW power plant, either geothermal-based or solar power.

He said that Indika has been in talks with a number of potential partners including from Japan to help finance and develop the planned project, which is projected to cost about US$1.2 billion, to be located in Java.

Wishnu said that Indika wanted to have between 20-30 percent interest in the project. ?We?re interested to enter (power) infrastructure (sector). We already have IPP (independent power producer) permit. There are talks going into that direction,? he said.

Indika currently owns a 20 percent stake in a 600 MW coal-fired power plant in Cirebon, West Java, through a consortium which also comprises of Marubeni Corporation, Korea Midland Power Company, and Samtan Co Ltd.

Editing by Reiner Simanjuntak