Velcan SA gets environmental permit for Meureubo 2 hydropower
Monday, February 1 2016 - 04:12 PM WIB
French firm Velcan SA announced on Monday that its subsidiary PT Aceh Hydro Power has been granted the Environmental Permit for the Meureubo 2 (59 MW) hydropower project by Aceh Barat regency, Aceh province.
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This permit is an important step towards the completion of all the necessary procedures for Velcan?s flagship project in Indonesia. It is a prerequisite for obtaining the Forest Land Use Permit.
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Velcan started the development of Meureubo 2 in 2011 and incorporated Aceh Hydro Power as the special purpose vehicle for this project. Velcan leads the consortium of the Meureubo 2 Hydropower Project with a 70 percent stake alongside PT PJB with a 25 percent stake. PJB is a fully-owned subsidiary of state owned electricity firm PT Perusahaan Listrik Negara (PLN) and will be responsible for the operations and maintenance of the power plant. PT PPC, Velcan?s local partner for this project, owns the remaining 5 percent of the consortium.
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??This approval is another important milestone for Velcan in Indonesia. It reflects five years of determined work by Velcan. Our Indonesian team in particular, both in Jakarta and in Aceh has nurtured a constructive and positive relationship with all the relevant authorities and stakeholders,? Jean-Luc Rivoire and Antoine Decitre, co-CEOs of Velcan SA said.
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?We would like to thank the many organizations, former and present Velcan team members, engineering companies, local and national authorities, local population representatives and individuals who have been involved in this process,? he added
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Editing by Johannes Simbolon