Sewatama realizing power projects, making coupon payment
Thursday, August 27 2015 - 02:50 PM WIB
The firm said in a statement on Thursday that in the past June, the firm, through its subsidiary PT Nagata Bio Energi, signed a Build Operation Transfer (BOT) agreement with PT Suryabami Tunggal Perkasa, a subsidiary of palm oil plantation fir PT Eagle High Plantation Tbk, on a 2.4 MW biogas power plant project in Suka Damai, Tanah Bumbu regency, South Kalimantan.
Suryabumi will provide lands and Palm Oil Mill Effluent (POME) to be converted into biogas for the power plant, while Nagata will provide financing, the POME-to-biogas conversion technology and develop the power plant, the firm said.
The firm will in the near future sign an agreement with a palm oil plantation firm in Kalimantan to build another biogas power plant.
The firm, through various subsidiaries, has also started developing a number of mini hydropower plants with a combined capacity of 50 MW in South Sulawesi, including one with a capacity of 5.2 MW in Gowa and another one with a capacity of 10 MW in Ma?dong in Toraja Utara. The Ma?dong power plant is scheduled to come onstream in 2016 and will supply power to Rantepao area, which is one of the tourism centers of the country.
Together with American firm Caterpillar Inc., the firm is also doing a study on the application of hybrid technology on diesel generators. The hybrid technology is able to combine diesel or gas power generators with solar power, thus making the operation of the generators more efficient.
The firm also announced it had paid Rp 23.45 billion in coupon on bonds worth Rp 1 trillion issued back in 2012. The bonds consist of three types, namely Serie A bond worth Rp 219 billion with coupon rate of 8.6 percent and Serie B bond worth Rp 581 billion with coupon rate of 9.6 percent, and sukuk (Islamic) bond worth Rp 200 billion with a fee rate of 9.6 percent.
It is the eleventh coupon payment that has been made by the firm, the firm said.
Editing by Johannes Simbolon