Megapower Makmur signs PPA with PLN
Thursday, June 14 2012 - 12:18 AM WIB
PT Megapower Makmur has signed an agreement with state-owned electricity company PLN?s Sulawesi division on May 30, 2012 to build and operate a mini hydro power plant with a capacity of 4,200 KW.
The power plant will be built in Patteneteang Village, Tompobulu District, Bantaeng Regency, South Sulawesi, at an estimated development cost of US$10 million, said Megapower, an indirect 80 percent subsidiary of Bina Puri Holdings Bhd, in a statement.
The annual output of electricity produced is approximately 23,915 GWH. The tenure of the Power Purchase Agreement (PPA) signed with the South Sulawesi, Southeast Sulawesi and West Sulawesi division of PLN is 15 years, effective from the date of commercial run of the power plant.
The construction period for the plant shall take twenty four months. This is the sixth power plant secured within the region, the statement said.
The agreement is expected to contribute positively to the earnings of Bina Puri Group from the financial year ending 31 December 2014 onwards.
Editing by Reiner Simanjuntak