JAKARTA (RambuEnergy.com) – PT Kartanegara Energi Perkasa (KEP), an independent power producer has secured financing needed to expand the capacity of gas power plant (PLTGU) Senipah, located in Kutai Kartanegara, East Kalimantan, to 117 MW.
The company estimates funds needed to develop the project expansion around US$211 million, which will come from domestic banks including BNI and BRI.
The first phase of the project commenced operation in 2015 with an installed capacity of 82 MW. “In 2017, we will expand the capacity of the power plant by 35 MW, therefore its capacity will increase to 117 MW),” President Director of KEP Hamid Awaluddin told reporters on Monday.
The company has signed power purchase agreement (PPA) with state electricity company PLN on Dec 22, 2016. PLTGU Senipah is part of the government’s drive to develop 35 GW installed capacity of power plants in the next few years.
PT Kartanegara Energi Perkasa is a subsidiary of PT Toba Sejahtra, which owns 10% shares in PT Toba Bara Sejahtra Tbk (IDX:TOBA), found by Luhut Binsar Panjaitan, currently the Coordinating Minister for maritime affairs. (Updated)