Syres Power targets two hydro power projects to start operation in 2019
Saturday, September 9 2017 - 03:08 AM WIB
Independent power producer PT Syres Power Energy has set target for two new mini hydro power plant (PLTM) projects in Sumatra to start operation in 2019.
The company is currently in the process of completing financial close for the 7.7 MW PLTM Batu Brak in West Sumatra Province and 6 MW PLTM Bayang Nyalo in Lampung Province, which will be followed with construction process.
?The target is that after six months of the PPA signing, the financial close can be concluded. But we?re trying to conclude the financial close in April,? said Operation Director of the company San Akri, referring to power purchase agreement for the two projects, which were signed with state-owned electricity firm PT PLN on Friday.
The PLTM Bayang Nyalo will be developed by subsidiary PT Bayang Nyalo Hydro, while PLTM Batu Brak will be developed by indirect subsidiary PT Tiga Oregon Putra. The two projects will cost around Rp 450 billion.
"Investment for PLTM Bayang Nyalo is around Rp160 billion and for PLTM Batu Brak Rp250 billion," said San.
Under the PPA, electricity output from PLTM Bayang Nyalo will be sold to PLN at a tariff of 6.86 US cents per kWh, while from PLTM Batu Brak will be sold at a tariff of 6.60 US cents per kWh.
Another subsidiary of Syres Power, PT Totabuan Energi Indonesia is also currently developing PLTM Tobabuan 1 and Tobabuan 2 projects with total capacity of 13 MW. ?We?re currently in the process of negotiating with PLN the power tariff, hopefully can be concluded in two months,? San said.
Editing by Reiner Simanjuntak