Ratchaburi Electricity and Medco Power to bid for Indonesian power project
Thailand's power firm Ratchaburi Electricity Generating Holding alongside the Indonesian energy firm Medco Power, a subsidiary of Medco Energi Internasional, are planning to build a US$350 million gas-fired power plant in Indonesia.
The joint-venture expects to submit a proposal for the 250 MW gas-fired plant project in the Riau Islands. The project is scheduled to begin its development in June. It will take a year for its entire development. Medco Power will take a 51 percent stake while Ratchaburi Electricity Generating Holding the 49 percent remaining.
Ratchaburi Electricity Generating Holding is trying to expand its business increasing its power generation capacity to nearly 10,000 MW by 2023 from the current 7,000 MW. Besides Indonesia, the company is looking to invest in Vietnam, the Philippines, Australia and Laos. Additionally, they have recently invested in nuclear plants in China.
As we reported in December 2015, Medco Energi Internasional, through its subsidiary PT Medco E&P Tomori Sulawesi signed a Term Facility Agreement with PT Bank ANZ Indonesia, PT Bank DBS Indonesia, PT Bank Mandiri (Persero) Tbk, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation (SMBC) to refinance a gas project in Indonesia.
In that case it was the Senoro Upstream Gas project, related with upstream gas operations in Senoro Field, Central Sulawesi, an Indonesian island east of Borneo.
Country news
-
-
March 21, 2016
OPIC finances renewable projects in Asia
The Board of Directors of the Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has recently approved OPIC support for two new private sector-led development projects totaling about US$470 million. Read more -
March 02, 2016
Engie sells 13 GW of power assets and acquires OpTerra
ENGIE has achieved a major step in the implementation of its transformation plan to redesign and simplify its portfolio, by acquiring OpTerra in energy services and selling 13 GW of power generation assets, of which 10 GW exposed to commodity prices in the United States and two coal-fired power plants (3 GW2) located in India and Indonesia. Read more -
February 12, 2016
Indonesia seeks investors for Bontang Oil Refinery
The government of Indonesia intends to construct the Bontang oil refinery in East Kalimantan through a private-public partnership (PPP). Read more -
December 09, 2015
ADB gives $600 million loans to Indonesia’s PLN
The Asian Development Bank (ADB) has approved assistance of $600 million for Indonesia’s state electricity corporation, Perusahaan Listrik Negara (PLN), to carry out major power transmission and distribution system upgrades in Sumatra. Read more -
December 04, 2015
MedcoEnergi signs $200 million refinancing for Senoro Upstream Gas Block
PT Medco Energi Internasional Tbk, through its subsidiary PT Medco E&P Tomori Sulawesi, has signed a Term Facility Agreement on November 24, 2015 to refinance an upstream gas operations in Senoro Field, Senoro-Toili PSC Block, Central Sulawesi (Senoro Upstream Gas). Read more
