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Indonesia,Malaysia : YTL Power signs 30-year PPA with Persero.

A 30-year power purchase agreement (PPA) has been inked by YTL Power International Bhd with PT PLN (Persero) worth US$2.7 billion (RM11.61 billion), marking the group's second investment in Indonesia.

The PPA has been ratified by YTL Power`s 80%-owned subsidiary, PT Tanjung Jati Power Co Ltd to repeat and improve the original PPA that was entered into on April 2, 1997.

The deal includes that YTL Power has been assigned to build two units of 660-megawatt (MW) coal-fired power generating facility. Correspondingly, it would sell the energy and capacity from the facility to PLN.

The project, which is called as Tanjung Jati 'A' Coal Fired Independent Power project would be situated at Cirebon, West Java, Indonesia that would expire in 2051.

"YTL Power is pleased to be able to assist in realising (Indonesian) President Joko Widodo's bold vision of putting 35,000MW on the grid in the next five years," YTL Power managing director Tan Sri Dr Francis Yeoh said in the statement.

The project would use state-of-the-art coal-fired technology and it would be among the most efficient of the new generation of plants in the Indonesian system.

"We are very much looking forward to working with PLN to get this project built and exporting much needed energy into the grid," he added.

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Publication:Mena Report
Geographic Code:9INDO
Date:Dec 24, 2015
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