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China Shenhua, PJB sign financial deal US$1.8b for PLTU Jawa 7

JAKARTA (RAMBUENERGY.com) – State electricity company PT Perusahaan Listrik Negara (PLN) said its unit PT Pembangkitan Jawa-Bali (PJB) and its consortium partner China Shenhua Energy Company Limited have made good progress with regard to the development of coal-fired power plant (PLTU) Jawa 7 with capacity of 1,000 MW after they reached financial close.

Both parties have signed financial deal (financial close) worth US$1.8 billion with China Development Bank, eight days ahead of schedule, as required by the power purchase agreement (PPA).

The power plant construction has actually begun in April 2016 although the financial close for the project was finalized on September 29, 2016, PLN said.

PLTU Jawa-7 is located in Terate village, Kramatwatu subdistrict, Serang Regency, Banten province. The project is part of the government’s 35,000 Megawatt (MW) ambitious power plant development program, scheduled to be finalized by 2020.

China Shenhua holds 70 percent stakes in the power plant project, while PJB Investasi, a unit of PJB, holds 30 percent stakes.

The power plant has already used ultra super critical boiler technology, which cause low emissions although the power plant use low calorie coal (4,000-4,600 kkal/kg AR).

The commercial operation date (COD) of the project is set for 2019-2020 in line with PLN’s masterplan (RUPTL) for 2016-2025. The electricity from PLTU Jawa 7 will strengthen the Java-Bali power grid system and will be distributed through Substation Balaraja with capacity 500 kiloVolt (kV).

Currently, the Java-Bali power grid installed capacity reaches 33,863 MW. (*)

 

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