11
PINA Power Generation Projects 21 PT PP-Energi PT Perusahaan Listrik Negara (PLN) PT Indonesia Power (IP) PT Pembangkitan Jawa-Bali (PJB)
PINA Power Generation Projects
2121
PT PP-Energi
PT Perusahaan Listrik Negara (PLN)
PT Indonesia Power (IP)
PT Pembangkitan Jawa-Bali (PJB)
Investor : PT Indonesia Power and PT Barito Pasific Tbk
Financier : Equity by PT IP• Equity : will be provided by
Sponsor/Investor• Debt : will be provided by
Buyer’s Credit and Commercial Loan
Financial Feasibility :Project IRR : 9,7 %Equity IRR : 10,6 %Payback Periode : 11,75 yearsDebt portion : USD 2.723 Billion
Estimated Project CostUSD 3,630,000,000
Description:
Implementation Schedule (ETA)• Financial Closing in 2018• Construction phase for 48 – 54 months• COD in 2023-2024
Business Oportunity :Project LoanProject Status :Land preparation, PPA negotiationEPC selection
Indicative Project Structure
Sector : Energy Sub Sector : Power Generation
Source: PINA Center for Private Investment, Indonesia Power
2222
9. Jawa 9 & 10 CFSPP (2x1000 MW) – Indonesia Power (IP)Indicative Structure and Investment Objective (Location: Cilegon, Banten)
Government Contracting Agency:
PT Indonesia Power as a ultimate Sponsor of Project Company Contact Person: Mohamad WahyudiMobile : +628158808247 [email protected]
Locatedat:Suralaya village,Cilegon district,Banten
1. Project Name : IPP PLTU Jawa #9-10
2. Project Company Name : PT Indo Raya Tenaga
3. Sponsor/Consortium member : PT Putra Indo Tenaga 51 % of shares
: PT Barito Wahana Lestari 49 % of shares
4. Project Location : Suralaya, Banten
5. Capacity : 2 x 1.000 MW
6. Type of Contract : PPA by PT PLN for 25 years
7. Source of Fund : Project Financing
8. DER : 75 : 25
EPC
Lender
IRTPPA
O&M Coal
PIT BWL
Location : Denpasar, Bali
Investor : PT Indonesia Power Financier : Equity by PT Indonesia Power
Sector : Energy Sub Sector : Power generation Government Contracting Agency: PT Indonesia PowerContact Person : Hermanugroho, mobile: +628161927100; e-mail:[email protected]
Project Cost : USD 148,000,000Estimated fund obtained through refinancing :USD 74,000,000Financial Issue :Gas price after mid-stream < 14.5% ICP
Financial Feasibility Based on Feasibility Study :
IRR : 15%NPV : IDR 317.63 billion
Estimated Refinancing Schedule : 2018
Indicative Project Structure
Business Opportunity : Financier
Project Status : Commercial Operation Date on June 2015
Source: PINA Center for Private Investment,Indonesia Power
2323
10. Pesanggaran Gas-Fired Diesel Power Plant (200 MW) – Indonesia Power (IP) Indicative Structure and Investment Objective (Refinancing) (Location: Pesanggaran, Bali)
Investor : PT Indonesia PowerFinancier : -
Indicative Government Guarantee:None
Financial Feasibility :IRR : 11% NPV : USD 132 MillionDebt Portion: USD 630 M
Estimated Project CostUSD 900,000,000
Description:Implementation Schedule (ETA)COD on Dec 2021
Business Oportunity :Investor for EquityLender/FinancingProject Status :PPA signed on October 2017
Indicative Project Structure
Sector : Energy Sub Sector : Power Generation
Source: PINA Center for PrivateInvestment, Indonesia Power
2424
11. Jambi-1 Mine Mouth CFSPP (2x300 MW) – Indonesia Power (IP)Indicative Structure and Investment Objective (Location: Sarolangun Regency, Jambi)
Government Contracting Agency:
PT Indonesia PowerContact Person: Hadi MunibMobile : [email protected]
1. Name : Coal Fired Mine Mouth Jambi-1, 2x300 MW
2. Location : Pemusiran Village, Mandiangin, SorolangunRegency, Jambi Province
3. Boiler type : PC Supercritical
4. DER : 70:30
5. Transmission
: - 150 kV double phi to Sorolangun-Muara Bulian T/L- 275 kV to Bangko substation
6. Swithyards : 500 kV, 275 kV and 150 kV
IPPJambi-1
Financial Feasibility :IRR : 11 %Debt Portion : USD 300 M
Estimated Project CostUSD 400,000,000
Description:
Implementation Schedule (ETA)COD On June 2022 Business Oportunity :
Project LoanProject Status : PPA Signed
Indicative Project Structure
Sector : Energy Sub Sector : Power Generation
Source: PINA Center for Private Investment, Indonesia Power
2525
13. Kalbar-2 CFSPP (2x100 MW) – Indonesia Power (IP)Indicative Structure and Investment Objective (Location: Kubu Raya, Banten)
• Name : Kalbar-2 CFSPP 2x100 MW
• Location : Rasau Jaya Subdistrict, Kubu Raya Regency,
West Kalimantan Province
• Technical Specification :
Coal Fired Power Plant
Capacity : 2x100 MW
Technology : Subcritical
• Project Commercial :
Project Cost : USD 400 M
DER : 75%:25%
• Power Transmission : Kota Baru Substation
Government Contracting Agency:
PT Indonesia PowerContact Person: Dadan HandaniMobile : +62 852 1009 6833 [email protected]
Investor : PT PIT & PartnerFinancier : -
Investor : PT PIT & PartnerFinancier : -
Indicative Government Support & Guarantee :None
Financial Feasibility :IRR : 11 %Debt portion: USD 274.5 M
Estimated Project CostUSD 366,000,000
Description:Implementation Schedule (ETA)COD on June 2022
Business Oportunity :Equity SponsorFinancingProject Status :PPA signed
Indicative Project Structure
Sector : Energy Sub Sector : Power Generation
Source: PINA Center for PrivateInvestment, Indonesia Power
2626
14. Kaltim-3 Mine Mouth CFSPP (2x100 MW) – Indonesia Power (IP)Indicative Structure and Investment Objective (Location: West Kutai, East Kalimantan)
• Name : Kaltim-3 MMCFSPP 2x100 MW
• Location : Melak Subdistrict, West Kutai Regency,
East Kalimantan Province
• Technical Specification :
Mine Mouth Coal Fired Power Plant
Capacity : 2x100 MW
Technology : Subcritical
• Project Commercial :
Project Cost : USD 366 M
DER : 75%:25%
• Power Transmission : Melak Substation
Government Contracting Agency:
PT Indonesia PowerContact Person: Zainal AbidinMobile : +62 813 1058 7818 [email protected]
Investor : PT PIT & PT Adaro PowerFinancier : Adaro Power (Equity)
Lender (Debt Portion)
Indicative Government Support & Guarantee :None
Financial Feasibility :IRR : 11 %Debt Portion: USD 270 M
Estimated Project CostUSD 360,000,000
Description:Implementation Schedule (ETA)COD on June 2022
Business Oportunity :Project LoanProject Status :PPA signed
Indicative Project Structure
Sector : Energy Sub Sector : Power Generation Government Contracting Agency:
PT Indonesia PowerContact Person: Zainal AbidinMobile : +62 813 1058 7818 [email protected]
Source: PINA Center for PrivateInvestment, Indonesia Power
2727
15. Kaltim-5 Mine Mouth CFSPP (2x100 MW) – Indonesia Power (IP)Indicative Structure and Investment Objective (Location: East Kutai, East Kalimantan)
• Name : Kaltim-5 MMCFSPP 2x100 MW
• Location : Muara Wahau Subdistrict, East Kutai Regency,
East Kalimantan Province
• Technical Specification :
Mine Mouth Coal Fired Power Plant
Capacity : 2x100 MW
Technology : Subcritical
• Project Commercial :
Project Cost : USD 360 M
DER : 75%:25%
• Power Transmission : Muara Wahau Substation
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Source: PINA Center for Private Investment, Pembangkit Jawa Bali
Developer : PT PJB Investasi (30-51%)Partner (49-70%)
Financier :
Indicative Government Support & Guarantee :None
Financial Feasibility :IRR : 12-14%
Estimated Project CostUSD 240,000,000
Implementation Schedule (ETA)1. Preparation : Nov ‘15 – Dec ‘172. PPA: Dec ‘183. Financial Closed: Jul ‘194. COD: 2021/2022
Description :Riau- 2 CCPP is built to fulfill electricity demand in growing Riau region
Business Opportunity :Project Sponsor, Financing, EPC Contractor, Insurance, O&MProject Status : Study finalization
Indicative Project Structure
Sector : Energy Sub Sector : Power Generation Government Contracting Agent :PT Pembangkitan Jawa-BaliContact Person :I Nyoman N. (+62 812-1718-108)PPA Period :20 Years
Government &
PLN
Financial
Institution
EPC Contractor
O&M Agreement
LicensesEPC
Contract
Shareholder Agreement
JVC IPP
51 %49 %PPA
Financing Agreement
O&M
Partner
16. Riau-2 Combined-Cycle Power Plant (250 MW) - Pembangkitan Jawa-Bali (PJB) Indicative Structure and Investment Objective (Location: Dumai, Riau)
2929
Source: PINA Center for Private Investment, Pembangkit Jawa Bali
Developer : PT PJB Investasi (51%)Partner (49%)
Financier :
Indicative Government Support & Guarantee :None
Financial Feasibility :IRR : 12-14%
Estimated Project CostUSD 831,000,000
Implementation Schedule (ETA)1. Preparation : Nov ‘15 – Dec ‘172. PPA: Dec173. Financial Closed: Jul ‘184. COD:- Gas Turbine 1: Dec ‘19- Gas Turbine 2: Jan ‘20- Combine Cycle: Jul ‘20
Description :Sumbagut-1,3,4 CCPP is built to fulfill electricity demand in North Sumatera.
Business Opportunity :IPP, EPC Contractor, Insurance, Gas Facility, O&MProject Status : Partner Selection
Indicative Project Structure
Sector : Energy Sub Sector : Power Generation Government Contracting Agent :PT Pembangkitan Jawa-BaliContact Person :I Nyoman N. (+62 812-1718-108)PPA Period :20 Years
17. Sumbagut-1,3,4 Combined-Cycle Power Plant (1 x 800 MW)- Pembangkitan Jawa-Bali (PJB) Indicative Structure and Investment Objective (Location: Medan City, North Sumatera)
Government
& PLN
Financial
Institution
EPC
Contractor
O&M
Agreement
LicensesEPC
Contract
Shareholder
Agreement
JVC
IPP
51%49%PPA
Financing
Agreement
O&M
Partner
• Sources: PT PP Energi, PINA Center for Private Investment
A. COMPANY PROFILE B. PROJECT OVERVIEW
• PT PP Energi is a subsidiary of PT Pembangunan Perumahan (Persero), PP Energi was founded in 2016.
• PP Energi focuses in the energy sector, with specialization in Engineering, Procurement and Construction (EPC), PP Energi also acts as investor and Independent Power Producer (IPP)
Projects Projects Projects
100%
INVESTMENT OPPORTUNITY IN PP ENERGY POWER PLANT PROJECTS
• Coal-Fired Power PlantMeulaboh is already part of RUPTL (Electricity Supply Business Plan) PLN 2016-2025 and 35,000 MW Mega Project which is supported by Government policies
• Other than Coal-FiredPower Plant Meulaboh, PP Energy is currently conducting development of several on-going project pipelines, such as PLTSa (WTE) Surakarta.
Project :Name
Capacity :
Transmission :Connection
Location :
SPV Name :
Project Cost :
Coal-Fired Power PlantMeulaboh
2x200 MW
275 Kv Nagan Raya
Meurebo, West Aceh
n/a (PP Energi 24%, CDTO & Sewatama 76%)
IDR 7.1 trillion/USD 540 million
Lokasi PLTU Meulaboh/Nagan
Raya 3&4
3030
18. Meulaboh CFSPP (Meulaboh 2x200 MW) - PP-EnergiCompany and Project Overview (Location: Meulaboh, Aceh)
• Sources: PT PP Energi, PINA Center for Private Investment
D. INVESTMENT OBJECTIVE
Investment : Objective
Use of : Funds
Capital :Structure of Project
Preferred : Instrument
• IDR ~2 trillion(US$ 162 million)
• Equity financing for Coal-Fired Power PlantMeulaboh and project pipelines
• 30% equity• 70% debt
• Limited Participation Mutual Fund (RDPT Equity)
• Perpetuity Notes
Contact:Supri (CFO/Director)Mobile : 0813 2611 9977Email : [email protected]
C. INDICATIVE STRUCTURE
2 options of financing instruments are considered:1. Limited Participation Mutual Fund/RDPT(RDPT issued by PP Energi, RDPT directly invests top energy project, new investors participate through RDPT)
2. Perpetuity Notes (Bonds issued by PP and fund will pass through to PP Energi)
New InvestorsPerpetuity
Notes
Projects
New Investors
RDPT Equity
Projects Projects Projects
3131
18. Meulaboh CFSPP (Meulaboh 2x200 MW) - PP-EnergiIndicative Structure and Investment Objective (Location: Meulaboh, Aceh)
