Breaking News

MARKET: Cikarang Listrindo sets capex up to US$50M in 2019

JAKARTA (RambuEnergy.com) – Independent power producer PT Cikarang Listrindo Tbk (IDX:POWR) has decided to set aside capital expenditure of US$40 million – US$50 million this year, higher than last year of US$30-US$40 million.

The expenditure will be allocated mainly to fund its power plants maintenance as well as to develop new distribution network of its electricity, the company’s Investor Relation Baskara Rosadi Van Roo said, as quoted by Kontan.

At present, Cikarang Listrindo operates three power plants — two plants are powered by natural gas (PLTG) with installed capacity of 755 MW and 109 MW respectively, and one power plant is powered by coal (PLTU) with installed capacity of 2×140 MW.

In total, the company operates power plants with total installed capacity of 1,144 MW.

The company expects to require US$15 million to develop new grid distribution network. At present, the company operates 20 kv grid system with a length of 1,455 km as well as 150 kv transmission line along 3 km, which connects PLTG I and PLTG II. It also has transmission line along 30 km, linking PLTG and PLTU.

At present, Cikarang Listrindo is also developing solar power pilot project (PLTS) in Cikarang, West Java with capacity of 52.5 kw with estimated cost of US$1 million for every 1 MW of solar PV.

Its power plants serve 2,382 customers.

On Wednesday, Cikarang Listrindo shares closed at Rp845 per share. At 10.36 a.m, on Thursday (Jan. 24), POWR was traded at Rp840 per share, down Rp5 or down 0.59%. (*)

Written by Staff Writer

Edited by Roffie Kurniawan (email: roffie.kurniawan@gmail.com)

Check Also

Indonesia’s PLN strengthening high voltage grid system in Sumatera

JAKARTA (RambuEnergy) - The state utility company PT Perusahaan Listrik Negara (PLN) continues to strengthen the ...

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.