REPUBLIKA.CO.ID, JAKARTA -- PT Adaro Energy, Tbk signed cooperation with China Shenhua Overseas Development to build coal-fired power plant in Kalimantan. The Memorandum of Understanding (MoU) was signed by Director of Adaro Power Mohammad Effendi and Chairman of Shenhua Kee Cheng Chye.
The companies plan to create a joint venture in Indonesia to develop mine-mouth power plant. Adaro Power will own 49 percent of the joint venture company. "The project will be financed by project financing, with mostly from non-recourse project debt financing," Effendi said on Tuesday, November 25.
In the first phase, Shenhua Overseas and Adaro Power will build 2x300MW mine-mouth coal fired power plant and electric transmission facility. It is a part of government's plan to build 35 gigawatt of power plant for the next five years. It is also in line with government's policy to add value to low calorie coal.
President Director of Adaro Energy Garibaldi Thohir said the company contributed in generating high quality yet affordable electricity in Kalimantan. Adaro boosts economic development in Kalimantan, as well as creating maximum value for coal.
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