YTL Power to build coal-fired plant in RI
Wednesday, December 23 2015 - 02:42 AM WIB
The power generation and water/sewage treatment group said its 80 percent owned unit, PT Tanjung Jati Power Co Ltd, had on Monday signed a restated and amended power purchase agreement (PPA) - originally entered into on April 2, 1997 - with Indonesia?s utility firm PT PLN, thestar.com.my reported Wednesday.
The PPA includes the construction of a 2 x 660MW coal-fired power generating facility and the sale of the facility?s energy and capacity to PLN, the report said.
The PPA will be for a term of 30 years expiring 2051, on the 30th anniversary of the anticipated commercial operation date of the plant.
The Tanjung Jati ?A? coal-fired independent power project is YTL Power?s second investment in Indonesia.
YTL Power made its first in 2004 with the purchase of a 35 percent stake and loan stocks in the 1,220 MW PT Jawa Power project for $139.4 million (RM599.5mil) plus 100 percent in PT Powergen Jawa Timur, which operates the coal-fired power station in East Java under a 30-year agreement, for $3.6 million (RM15.5mil).
YTL Power, an associate company of YTL Corp, currently owns 35 percent of Jawa Power through its 57.14 percent YTL Jawa Power Holdings BV.
YTL Power managing director Tan Sri Francis Yeoh said the company was able to leverage on the experience in running the Jawa Power power plant over the past 11 years to develop the new project.
?The project will utilise state-of-the-art coal fired technology and will be among the most efficient of the new generation of plants in the Indonesian system,? he said. (*)