Feb 24, 2011

Jababeka unit signs PPA with PLN

PT Bekasi Power, a wholy owned subsidiary of PT Jababeka Tbk (KIJA), has entered into purchase power agreement (PPA) with PT Perusahaan Listrik Negara (PLN) today.
Jababeka Vice President Director Budianto Liman, in an official statement submitted to Indonesia Stock exchange (IDX) today, said PLN is acting as 100% off-taker of electricity generated by gas and steam-fire power plants (full combined cycle) with 1x125.8 MW capacity owned by Bekasi Power in 20 years.
The commercial date of the power plans is scheduled in the last quarter of this year, generating revenue contribution of US$85 million a year to Jababeka with EBITDA margin above 30%. KIJA-coded stock today skyrocketed 29.81% to Rp135 per share. 

Disclosure: No position at the stock mentioned above.

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