The International Finance Corporation (IFC), a member of the World Bank Group, has proposed to extend a debt financing package of up to $50 million to support the development of a 275-megawatt (MW) combined cycle gas turbine power plant in Riau Province, Sumatera, Indonesia.
PT Medco Ratch Power Riau, a consortium of PT Medco Power Indonesia and Ratchaburi Electricity Generating Holding of Thailand, has started the construction of gas power plant (PLTGU) in Pekanbaru, Riau, Sumatera Island.
Head of Investment Office of Pekanbaru Muhammad Jamil said that the consortium firm will develop the PLTGU with an installed capacity of 250 MW with a total investment of US$300 million or around Rp3.5 trillion.
All required permits, including principal permit to develop the power plant as well as power purchase agreement (PPA) with the state electricity company PLN has been sealed.
