Nebras Power and Indonesia’s electricity corporation, PT PLN (Persero), have signed an agreement for the construction of a 500 megawatt gas-powered power plant in Northern Sumatra.
Nebras Power chairman Fahad bin Hamad al-Mohannadi did not reveal specific details of the project but told Gulf Times that the two companies were “still in the finalisation phase of negotiations on the uptake of the contract and the fuel supply agreement”.
“It is still in the early stages, which is why we cannot quantify the investment. But the project is a full chain starting with the 500MW power plant, which is around $300mn. In addition, there will be a distribution system for gas and also a gas receiving terminal,” al-Mohannadi explained.
He added: “At this stage, we do not have the exact figures but this agreement would get the ball rolling towards developing the strategy of investments in Indonesia.”