Valued At 290 Million US Dollars, PLT Gas Steam, A Joint Venture Company Owned By Conglomerate Arifin Panigoro, Officially Operates Commercially

Medco Power Gas Steam Power Plant. (Photo. Antara Doc/Medco Power)

JAKARTA - PT Medco Power Indonesia Tbk (MEDP) owned by conglomerate Arifin Panigoro has started commercial operations of the Riau Gas Steam Power Plant (PLTGU) with a capacity of 275 MW.

The PLTGU is operated by a subsidiary of Medco Power, namely PT Medco Ratch Power Riau, which is a joint venture with RATCH Group Public Company Limited.

President Director of Medco Power, Eka Satria said that the Riau PLTGU is a National Strategic Project (PSN), which is connected to the Sumatra electricity system and will strengthen electricity security and reduce the intensity of greenhouse gas emissions, especially in Riau Province and Central Sumatra.

"The completion of the Riau PLTGU project demonstrates Medco Power's commitment to supporting the Indonesian government in social and economic development programs, as well as developing our Gas to Power business portfolio. Riau PLTGU has recorded 8.6 million safe man hours," said Eka in an official statement quoted Tuesday, 15 February.

PLTGU Riau is a combined cycle gas generator based on the latest technology, has high efficiency and meets international standards for environmental quality management. The total investment reached 290 million US dollars.

The sponsor also cooperates with international financial institutions such as the Asian Development Bank, International Finance Corporation, MUFG Bank and Sumitomo Mitsui Banking Corporation. PLTGU Riau received an award for the category of Gas Generation Project and Natural Gas Generation Project from Asia Power magazine.

The CEO of MedcoEnergi, Roberto Lorato also said that the Riau PLTGU had safely achieved commercial operations and overcame the challenges of COVID-19.

"The Riau PLTGU is part of our strategy to develop a low carbon portfolio and achieve Net Zero emissions for Scope 1 and Scope 2 by 2050 and Scope 3 by 2060, supporting the Government's energy transition program," added Roberto.

Medco Power Indonesia, founded in 2004, is an independent power generation producer under the Medco Energi business group. Engaged in the IPP and O&M sector, Medco Power owns and operates power plants with a total (gross) capacity of more than 3.1 GW in 15 locations in Indonesia.

In addition to operating assets, Medco Power is developing the Ijen PLTP in East Java, the Riau PLTGU with a capacity of 275 MW and the 2x25 MWp PLTS project in the Bali area and the Sumbawa PLTS with a capacity of 26.8 MWp.