According to IFC, "the proposed project is the development, construction and operation of a 275 megawatt (MW) combined cycle gas turbine power plant and about 40-kilometer gas pipeline in Riau Province, Sumatera, Indonesia. The Project has secured a 20-year power purchase agreement from the national electricity utility, PT Perusahaan Listrik Negara (PLN) and it is anticipated that the Project will generate about 1.4 TWh of electricity annually."
IFC stated that the project was awarded to a consortium of PT Medco Power Indonesia (51%) and Ratchaburi Electricity Generating Holding Public Company Limited (49%), to implement through Medco Ratch Power Riau (MRPR).
PT Medco Power Indonesia (MPI) is a developer and operator of small to medium size gas-fired, geothermal and mini-hydro power projects. It was established in 2004 and is owned 88.63% by PT Medco Energi Internasional, Tbk, and 11.37% is owned by IFC.
Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) acts as a holding company and accounts for a total installed capacity of about 6.6 GW operating and 952 MW under development contributing about 18% of Thailand’s generation capacity. About 80% of RATCH’s power assets are gas-fired and their projects are located in Thailand, Laos, Australia, China and Indonesia. RATCH is listed on the Thailand stock exchange and owned 45 % by the Electricity Generating Authority of Thailand, 20% Thai NVDR Company Limited and the remaining by other investors, each below 5%.
Project Contact: Firdaus Rizaldy Rizky
Project Finance Manager, PT Medco Ratch Power Riau
Telephone No.: +62 21 2995 3316
Email Address: Firdaus.Rizky@medcoenergi.com
Office Address: South Jakarta 12190 Indonesia
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