Medco, PLN Make Power Deal

Bali. Medco Power Indonesia, a subsidiary of Indonesia’s largest listed oil and gas firm Medco Internasional, signed two power-purchase agreements on Monday with utility firm Perusahaan Listrik Negara.

The first agreement states that Medco Power, through its subsidiary Energi Listrik Batam, will build and operate a gas-fired power plant in Batam, Riau Island in which the electricity will be sold to PLN. The plant will consist of two 35 megawatt generators.

The contract, which has a 20-year term, obliges PLN to pay 2.81 cents per kilowatt hour to Medco, excluding payment for a gas fuel component.

The plant, located in the Tanjung Uncang industrial area, will begin operations in 2014 and has an option to increase the capacity to 110 megawatts.

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Posted October 16, 2012 by repit in News

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