Cilacap Power Plant Expansion Phase II

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The project entails the second expansion of Cilacap Power Plant (Expansion Phase I has a capacity of 660 MW). The facility is located in Central Java province, Cilacap Regency, Kesugihan sub district. The capacity of the additional facility will be 1x1000 MW. S2P is a joint venture between the local investor PT Sumber Energi Sakti Prima (51%) and local generator PT Pembangkitan Jawa Bali (PJB). PT PJB is in turn a wholly-owned subsidiary of the state power utility PT Perusahaan Listrik Negara (PLN). The output will be sold to state power utility PT Perusahaan Listrik Negara (PLN) under a long-term power purchase agreement (PPA). The project requires an investment of approximately $1.4 billion. Bank of China has committed $1 billion to the expansion project. Bank Rakyat Indonesia (Persero) (government - owned) also contributed $300 million, together with China Development Bank - $98 million. No details on equity contributions are available at the moment of collecting the information. On October 12th the construction of the facility commenced. The project construction is projected to be completed in 39 months or the first quarter of 2020. Second sponsor with 49% stake is State owned PLN