PLTU Batang?s financing date postponed
Thursday, October 8 2015 - 01:08 AM WIB
IDX-listed coal mining giant PT Adaro Energy Tbk said on Wednesday that its indirect subsidiary, PT Bhimasena Power Indonesia (BPI), the owner of PLTU Batang coal fired power plant project in Central Java, has signed an amendment to the Power Purchasing Agreement (PPA) with state owned electricity firm PT Perusahaan Listrik Negara.
Under the amendment signed on Oct. 5, 2015, BPI is allowed to postpone the Required Financing Date for the project for six months until April 6, 2016, Adaro said.
Adaro through PT Adaro Energy has 34 percent in BPI. The other shareholders are Japan?s J-Power Energy Power Development Co. Ltd. and Itochu Corp.
President Joko Widodo broke ground on the 2x1000 MW power project on Aug. 28.
Editing by Johannes Simbolon