Medco Power 2011

completed

Founded in early 2004, MPI is a developer of Indonesian IPP projects. MPI is currently 100% owned by PT Medco Energi Internasional tbk (“MedcoEnergi”), an integrated energy company. MPI is focused on small to medium sized IPPs, with a portfolio consisting of six operating gas-fired power plants. The current MPI operated production portfolio stands at 189 MW. Three of these power generation assets are located at one site on Batam Island, Indonesia, representing a total gross capacity of 158 MW. The Company also has a non-operating 5% equity holding in a gas fired power generation asset located in South Sulawesi. The Company has a power plant services (PPS) business which encompasses Engineering, Procurement, Construction (EPC), project management and O&M services. IFC is considering an equity investment of up to $25million in MPI to finance the company''s current expansion plans. The proceeds of this financing will be used for additional capacity expansions of around 200MW through a series of upcoming projects. These include capacity expansions at the existing assets on Batam Island (“Batam Operational Assets”), construction of an additional, separate, gas fired power plant on Batam Island, and entry into the small, run of the river, Indonesian hydro-power market with current activities focused on concession acquisition and feasibility development.