Medco Power spending $120m for power plants
Tuesday, January 28 2014 - 02:20 AM WIB
PT Medco Power, a unit of IDX-listed energy firm PT Medco Energi Inetrnasional Tbk has allocated to US$120 million in capital expenditure to develop several power plants, including gas-fired and hydropower plants, with a total capacity of 110 MW.
Some of the power plant projects will come onstream this year, while others in 2015.
The power plants that will come onstream this year are the expansion (30 MW) of PLTG Panaran I and PLTG Tanjung Uncang (70 MW) gas fired power plants, both located on Batam Island, Fazil Erwin Alfitri, President Director of Medco Power, said.
Both power plant projects are expected to come onstream in September this year.
The firm is also developing five mini hydropower plants, all located in West Java, including PLTMH Cibalapulang 1 (9 MW) which is expected to come onstream in March this year. The four other mini hydropower plants, namely PLTMH Cibalapulang 2 and PLTMH Cibalapulang 3 and PLTMH Parahyangan 1 and PLTMH Parahyangan 3, are expected to come onstream next year.
Medco Power is 51 percent owned by equity firm Saratoga Capital.
Editing by Johannes Simbolon