Velcan?s hydropower project in Aceh to start operation in 2019
Tuesday, April 1 2014 - 07:41 AM WIB
French firm Velcan Energy expects to commission its 59 MW Meureubo 2 hydropower project in Nangroe Aceh Darussalam in 2019.
?We started studies on the Meurebo 2 hydropower project in 2011 and hope it will start operation in 2019,? Co-Managing Director of Velcan Energy, Antoine Decitre said on the sidelines of conference on Indonesia Power Project Finance held by Petromindo.com in Jakarta, recently.
The power plant project is owned by a consortium consisting of PT Pembangkitan Jawa-Bali (PJB) and PT Aceh Hydropower (AHP). PJB, a 100 percent subsidiary of Indonesia?s national power utility PT Perusahaan Listrik Negara (PLN), has a 25 percent stake, while AHP holds the remaining 75 percent stake. AHP is a joint venture between Velcan Energy (owning 70 percent of the SPV which owns the power project) and local firm PT Panca Perdana Gemilang (5 percent).
He said the consortium agreement with PJB was signed in Oct. 2013. PJB will play the role as operator in Operation and Management (O&M), while Velcan along with its local partner as consortium leader in development, financing, and the Engineering, Procurement, and Construction (EPC) works during the Power Purchasing Agreement (PPA) period.
A document obtained by Petromindo.com says the Meurebo-2 hydropower project will replace the 43-MW Meulaboh-5 hydropower project, which is one of a number projects mentioned by PLN in its 2012-2021 Power Plant Development General Plan (RUPTL).
Under the consortium?s plan, the Meurebo-2 hydropower plant will be connected with the 150 kV Meulaboh substation through a 50-km 150 kV transmission line. Under the plan, the project is scheduled to begin construction in 2015. The total investment for the project is estimated at US$ 152.4 million.
Editing by Johannes Simbolon