Sebukit power to invest $400m to develop peat-fired power plant
Thursday, September 18 2008 - 03:30 PM WIB
Under the HoA signed, Sebukit Power will supply electricity for 30 years to PLN at the price of 4.787 US cents per KWH.
CEO Marcellius Kurniawan told reporters that the power plant will built in stages starting September 2009 with first unit commissioning seen in 2011, followed by second unit in 2012 and the third unit in 2013.
Kurniawan said the company will use European technology and a South Korean company will operate the power plant.
Finland firm Poyry Energy has conducted study on the peat land and concluded that the firm?s concession is suitable to be used as fuel for the power plant, he said.
The company has secured 19,500 hectares peat land concession in West Kalimantan, he said., adding that the company is in the process of securing 70 percent of the investment fund from lenders. (godang)