PLN, ANZ agree to develop three hydro projects
Tuesday, December 11 2012 - 12:38 AM WIB
State utility PT Perusahaan Listrik Negara (PLN) and Australia and New Zealand Banking Group (ANZ) have signed a cooperation to develop three projects of hydro power plants in Sulawesi and Sumatra.
Based on cooperation?under the scheme of the public and private partnership (PPP)--, ANZ will function as an advisor of PLN in pursuing transactions for the development the three projects.
The projects include the hydro power plant (PLTA) Karama with a generation capacity of 450 megawatt (MW) in Sulawesi, PLTA Batang Toru with a generation capacity of 510 MW in North Sumatra, and PLTA Merangin with a generation capacity of 350 MW in North Sumatera.
?After conducting a transparent and competitive evaluation, PLN finally decided to appoint ANZ to play its role as the key advisor to support the development of our projects,? said PLN President Director Nur Pamudji in a press statement received by Petromindo.com on Monday.
He added that the main reason for the decision was that because ANZ has already had a long experience and expertise in handling geothermal and hydro projects in Asia.
Paul Finn, ANZ Global head for project and structured finance, said that the hydro power plant projects stood as an important step in further developing a reliable power system in Indonesia.
?We hope we can help PLN to achieve its success in developing the power plant system,? he said.
Editing by Benget Besalicto Tnb.