After the initial public offering (IPO), PT Cikarang Listrindo Tbk (POWR) received proceeds that will be used as capital expenditure (capex) to increase the capacity and working capital. Of the company’s two power plant sites, the potential for increased power generating capacity could reach to 1,320 MW.
Christianto Pranoto, Finance Director, said the company has power plants in three locations: Gas-fired power plant in Jababeka and MM-2100 Industrial Area with a capacity of 864 MW; coal-powered plants with a total capacity of 240 MW (2 x 120 MW) in Babelan which is under construction. The Babelan power plant will be operational in the fourth quarter of 2016. “In the area of MM-2100, unused capacity is 109 MW. We still have land to be developed with a capacity of 900 MW. Babelan can still develop 3 × 140 MW or 420 MW, “said Christianto.
The Company has 2,185 customers in five industrial areas adjacent to Cikarang and sells electricity to PLN. At the end of 2015, electricity sales to industrial zones reached US $ 381.81 million or 69.69% of the company’s total net sales worth US $ 547.89 million. Christianto said the company predicts sales growth of electricity to the industrial area this year to reach 6.5% of the total value of kWh. (*)
Add Comment