KIJA sign $1.7b power sales deal with PLN
Friday, February 25 2011 - 01:33 AM WIB
IDX-listed property developer and power plant owner PT Kawasan Industri Jababeka Tbk (KIJA) reported on Thursday that it has on the same day signed power purchase agreement (PPA) with state electricity firm PT PLN (Persero).
Under the PPA, PLN will offtake all of electricity produced from KIJA?s 1x125.8 MW full combined cycle power plant for 20 years. The power plant, which is located near Jakarta, will start commercial operations in the fourth quarter of this year, the company said.
The deal will contribute revenue of US$85 million annually to the company, it said.
According to Corporate Secretary Muljadi Suganda, KIJA will sell electricity to PLN at a price of 9 US cents per kwh to PLN.
Currently, KIJA is operating 130-MW power plant which consist of 2x42 MW and 1x43 MW units. (alex)