Adaro to Make Bid for Coal-Fired Power Plant in Banten

BY :RIDHO SYUKRA

JUNE 21, 2015

Adaro chief Boy Garibaldi Thohir. (GA Photo/M Defrizal)

Jakarta. Coal miner Adaro Energy is participating in a tender to operate a 2x1,000 megawatt coal-fired power plant, called PLTU Jawa 5, in Banten, as part of an effort to diversify its non-coal revenue sources.

“We are participating into the PLTU Jawa 5, but we haven’t established a consortium yet,” said Garibaldi Thohir, president director at Adaro Energy.

He said the project was “promising” as it was the same size as the company's delayed coal fired power plant project in Batang, Central Java.

Garibaldi estiamated coal needs for the plant were about 8 million to 10 million tons per year.

“One power plant with a capacity of two 1,000 MW needs at least 200 million to 250 million tons for 25 years. Nowadays, not many coal miners have coal reserves of more than 250 million,” he said.

Garibaldi did not mention the cost of investment for the Banten plant project.

Adaro is working on other coal-fired power plant projects, including a 2x100 MW plant in South Kalimantan which is still in the process of financial closure.

Adaro is targeting a financial closure in October or December this year.

The company is also working on its 2x1,000 MW power plant in Batang, although progress has been delayed due to land acquisition issues.

Adaro controls 34 percent stake in the project, which is worth more than Rp 40 trillion ($3 billion), and has teamed up with Japanese firms J-Power and Itochu.

Investor Daily

SHARE