Bengkulu Coal-Fired Power Plant

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The project envisages the development of a 200-MW coal-fired power plant in Bengkulu, Sumatra by PT Tenaga Listrik Bengkulu ("Project company"). The project company is 70 per cent owned by Sinohydro and 30 per cent by Intraco Penta. Once completed, TLB would supply 1.4 gigawatt-hours of energy to Bengkulu province every year. This is a greenfield project awarded following an international competitive bidding process. The plant will be operated by the project company for a period of 25 years under a BOOT modality. In November 2015 the sponsors signed a power purchase agreement (PPA) with PLN for a period of 25 years. PLN did not reveal the price it pays for TLB power, but the company said the power plant could save Rp 1.7 trillion ($123 million) from annual costs for Sumatra’s power grid. The total investment is estimated at $360 million, with 75:25 debt to equity ratio. The $270 million debt financing is tied up with ICBC and EX - IM Bank of China. The remainder funds are provided by the two sponsors - Sinohydro $63 million, and Intraco Penta $27 million. DBS is the financial adviser to the sponsors. Financial closure occurred on 25th October 2016 since the financing was secured and construction kicked off. https://ijglobal.com/data/transaction/30198/bengkulu-coal-fired-power-plant-200mw http://industri.bisnis.com/read/20161025/44/595854/pltu-bengkulu-beroperasi-2019 https://www.pressreader.com/indonesia/the-jakarta-post/20161028/281973197200560 http://www.jakartaglobe.beritasatu.com/business/intraco-penta-sinohydro-secures-pln-power-purchase-deal-bengkulu-project/ http://www.chinadaily.com.cn/bizchina/2016-10/26/content_27179531.htm Second sponsor (30%) is Intraco Penta Group