Energi Prima Elektrika. The recently acquired company owns and operates a 2x6 MW capacity gas-fired power plant in Patih Galung, Prabumulih - South Sumatra. PPA with PLN was already signed in 2004. The plant started to operate commercially on 1 June 2006 and was put under Medco Power Indonesia's management on 29 July 2010 after acquiring 85% of the company's shares. Prabumulih gas-fired power plant currently supplying electricity to local industries and housing in Jambi and Bengkulu.
- MPI plan to acquire 85% ownership of project with total capacity of 24 MW from PT. Multisakadaya.
- The project is located in Palembang (PT. MPE) & Prabumulih, North Sumatera (PT.EPE)
- Main objectives of the acquisition :
- Business Expansion to North Sumatera & synergy potential with other Medco projects.
- Support MPI strategy in focusing on small to medium IPP’s & captive plants
- Giving direct value added on Company’s Balance Sheet & Profil Loss since assets have been operated (EBITDA contribution estimated of IDR 37 billion/ year until 2026.
- Purchasing distress assets , where the value is cheaper than build the owned generator with the same capacity.
- The total acquisition of USD 22 million will be financed by Long term debt from Bank CIMB Niaga , all transactions are expected to be accomplished on May 2010.