PLN signs PPAs for two power plant projects
Friday, April 7 2017 - 01:01 PM WIB
PLN said in a statement that a PPA was signed with PT Medco Ratch Power Riau for the planned 275 MW PLTGU Riau gas and coal-fired power plant, and another one with PT Minahasa Cahaya Lestari for the planned 2x50 MW PLTU Sulut-3 coal-fired power plant project.
PLN said that the two IPPs must complete the financing close of the two projects within 12 months since the signing of the PPA. It added that the government doesn?t provide guarantee for the projects.
PLTGU Riau, with estimated investment of US$300 million, will be developed in Sail, Tenayan Raya District, Pekanbaru, Riau Province. Construction including for the development of a 43-km gas pipeline and transmission line is targeted to be completed within 36 months, and is scheduled to start commercial operation in 2021. The plant is projected to produce about 1,446 GWh of electricity output, and will be transmitted to the Central and South Sumatra System via 150 kV transmission network to the 150 kV substation in Tenayan and 150 kV substation in Lembu, owned by PLN.
Meanwhile, the PLTU Sulut-3 will be developed in Kema, Minahasa Regency, North Sulawesi Province. Estimated investment requirement for the project is $215 million and the project including a 7 km transmission line is targeted to be completed within 39 months, while the Commercial Operation Date (COD) status is targeted to be reached in 2020. The power plant will produce about 700 GWh power output, transmitted to the Suluttenggo System via a 150 kV network and 150 kV substation in Kema.
PT Medco Ratch Power Riau is a special purpose vehicle company set by a consortium comprising PT Medco Power Indonesia (51% ownership), and Ratchaburi Electricity Generating Holding Pcl (49%).
Meanwhile, PT Minahasa Cahaya Lestari is a special purpose vehicle company set up by PT Toba Bara Energi and Sinohydro Corporation Limited (10% shares).
Editing by Reiner Simanjuntak