Terregra to develop hydro power plants in N. Sumatra
Wednesday, April 12 2017 - 01:10 AM WIB
PT Terregra Asia Energy through subsidiary PT Terregra Hydro Power (THP) plans to build four hydro power plants in North Sumatra with combined capacity of 36 MW.
Vice President Director of Terregra Asia, Lasman Citra said that the company hopes to be able to start construction of the power plant projects this year in the hope that commercial operation can start in 2019.
Lasman said that total investment for the four hydro power plant projects is estimated at US$70 million-$90 million, part of which to be financed via bank loans.
Terregra is also planning to sell 21.34 percent shares to the public via initial public offering (IPO) to raise between Rp 120 billion and Rp 198 billion. About 97 percent of the proceeds will be allocated to subsidiaries to finance power plant projects.
Terregra Asia has two subsidiaries including THP, which is engaged in hydro power plant projects, and PT Terregra Solar Power (TSP), which will be engaged in the solar power plant development.
Lasman said that Terregra Asia aims to build a total of 12 renewable-based power plant (PLTS) projects in Sumatra and eastern part of Indonesia with combined capacity 450 MW.
?For PLTS (projects), we?ll participate in tender to be held by PLN in the second semester,? he said, referring to the state-owned electricity firm PT PLN.
He added that the company, which has been providing services and equipment for PLN, is currently conducted survey of potential hydro power plant projects in North Kalimantan, Central Kalimantan, and South Kalimantan.
Editing by Reiner Simanjuntak