Jakarta, 20 Maret 2019 – PT Medco Power Indonesia (Medco Power), melalui anak usahanya, PT Medco Ratch Power Riau (“MRPR”) menandatangani perjanjian pinjaman pinjaman jangka waktu 20 tahun sebesar USD 222 juta dengan konsorsium pemberi pinjaman pembiayaan internasional yang terdiri dari Asian Development Bank (“ADB”), International Finance Corporation (“IFC”), MUFG Bank, Ltd (“MUFG”) dan Sumitomo Mitsui Banking Corporation (“SMBC”).
Pinjaman tersebut mencapai 76% dari total investasi proyek senilai USD 293 juta pembangunan proyek Pembangkit Listrik Tenaga Listrik (PLTU) Riau 275 MW. MRPR merupakan konsorsium PT Medco Power (51%) dan perusahaan listrik Thailand, Ratchaburi Electricity Generating Holding PCL (Ratch) (49%).
Project construction has started since Q3 2018 with the total project progress 24% to date, and target of COD in May 2021. After COD, Medco Power through its other subsidiary will take its role as O&M Contractor.
Eka Satria, President Director of Medco Power said “This signing affirms strong support and trust from International Financier for good reputation of Medco Group to complete large project in Indonesia. In addition to that, the power plant is expected to increase the electricity supply by 275 MW to Sumatera power grid and can support in fulfilling the target of electrification improvement in Riau region. This is also in line with Medco Power’s vision to become the clean Independent Power Producer (IPP) and reliable Operation & Maintenance (O&M) services company of choice with a mission to develop and operate IPP in natural gas, geothermal and other renewable and gas infrastructure facilities.”
Established in 2004, Medco Power is an independent power producer under MedcoEnergi group. MPI Currently owns and operates a gross capacity of 645 MW (IPP) and operates third-party power plants (O&M) with total capacity of 2,489 MW.
Currently, Medco Power Indonesia has some asset under development in its portfolio asset including Riau CCPP (275 MW) and Ijen geothermal (110 MW) and Solar PV (2 x 20 MW). Going forward, Medco Power will continue to prioritize development in the clean and renewable energy sectors.