Toba Bara Sejahtera Completes Financing of PLTGU Senipah Project in East Kalimantan

INDUSTRY.co.id - Jakarta (ANTARA News) - PT Toba Bara Sejahtra Tbk (TOBA) has achieved financial close of financing for the expansion of Senipah Gas and Steam Power Plant (PLTGU) with capacity of 117 MW in Kutai Kertanegara, East Kalimantan.

President Director of PT Kartanegara Energi Perkasa (KEP), which is a subsidiary of TOBA which is working on this project, Hamid Awaludin said PLPGU Senipah IPP project is part of the National Electricity 35 thousand Megawatt (MW) Program. "We hope the electrification ratio can increase," said Hamid in Jakarta, Monday (09/10/2017).

At the same time, Finance Director of KEP, Juli Oktarina said, the financial close of this project is the initial step of commencement of construction process of PLTGU Senipah expansion to 117 MW.

According to July, the project will cost around US $ 150 million to US $ 165 million. To date, KEP has secured a US $ 66 million financing from Bank BNI Tbk which codes BBNI shares for funding the project. The plan, BNI as mandated lead arranger will be syndicated with Bank BRI coded BBRI shares.

Currently, PLTG Senipah distributes electricity to PT PLN (Persero) in East and North Kalimantan through the Mahakam transmission network system distributed to East Kalimantan, including Balikpapan, Samarinda and Tenggarong.

Thus, the reason for the expansion of PLTGU Senipah is to meet the projected growth of electricity demand by 10% per year in the region. The PLTGU Senipah will operate for 25 years from COD Simple Cycle 82 MW or until March 2040.