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YTL Power to build RM11.6bil coal-fired plant in Java

YTL Power International Bhd is embarking on a US$2.7bil (RM11.6bil) 1,320MW coal-fired power plant project in Cirebon, West Java – its second investment in Indonesia.

The power generation and water/sewage treatment group said its 80% 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 the republic’s national utility firm PT PLN (Persero).

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 PPA will be for a term of 30 years expiring 2051, on the 30th anniversary of the anticipated commercial operation date of the plant.

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Posted December 23, 2015 by repit in News

GB Asiatic, CMEC team up in power and drugs projects worth RM9.2bil

GB Asiatic Ventures Sdn Bhd has partnered with China Machinery Engineering Corp (CMEC) to sign two memorandums of developments with AJ Pharma Holding Sdn Bhd and PT Sriwijaya Utama Energy to undertake projects worth RM9.2bil.

GB Asiatic chief executive officer Datuk Wong Kong Choong said the projects involved building the world’s first halal vaccine and pharmaceutical plant for AJ Pharma with gross development value (GDV) of RM330mil in Bandar Enstek, Negri Sembilan and two coal-fired power plants in south Sumatra, Indonesia, with PT Sriwijaya worth around RM8.82bil.

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Posted December 23, 2015 by repit in News

President Jokowi meets power plant investors

President Joko Widodo (Jokowi) held a meeting with some 150 power plant investors at the State Palace on Tuesday to discuss efforts to accelerate the development of projects to generate 35 thousand megawatts (MW) electricity.

“In todays meeting, I want to emphasize again that the power projects to generate 35 thousand MW of electricity are needed. It is not a small figure, and therefore, I always closely monitor the developments in the projects. I always summon the president director of the state-owned electricity firm (PLN) and the relevant minister,” the president stated while addressing the investors at the State Palace in Jakarta on Tuesday.

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Posted December 23, 2015 by repit in News

Indonesia Parliament approves capital injection allocation for PLN

The House Commission VI which oversees state owned enterprises have approved the changes of the utilization of capital injection (PMN) into state electricity company PT PLN worth Rp5 trillion. The capital injection will be used by PLN to fund a number of electricity projects in a number of regions across the country.

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Posted December 21, 2015 by repit in News

Is Indonesia Ready for Nuclear Power Plants?

The National Nuclear Energy Agency’s Deputy Technology Chief, Taswanda Taryo, had previously said that one of Indonesia’s strongest statement ever in favor of nuclear power. According to Taryo, Indonesia will never achieve its Long-Term National Development Plan (RPJPN) 2005-2025 without building nuclear power plants for electricity.

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Posted December 21, 2015 by repit in News

Indonesian media mogul earmarks $500m for M&A

Mr Tanoesoedibjo, 50, told the Financial Times that he is in the midst of negotiations to acquire an oil and gas business, a coal-fired power plant and a number of local banks, with total investment of “around $500m altogether” — equivalent to a tenth of Indonesia’s total mergers and acquisitions activity this year.

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Posted December 21, 2015 by repit in News

Govt opens bidding for 3 geothermal power plants

The government has opened tender processes for the development contracts of geothermal power plants in three provinces as part of efforts to boost the country’s electricity supply amid an increasing power deficit.

The Energy and Mineral Resources Ministry announced on Friday the geothermal power plant contracts for Way Ratai, Lampung; Marana, Central Sulawesi and Gunung Talang Bukit Kili, West Sumatra.

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Posted December 21, 2015 by repit in News