JAKARTA (rambuenergy.com) – PT Sumberdaya Sewatama [IDX:SMMM], a subsidiary of diversified energy group PT ABM Investama, sets aside Rp132 billion to build a microhydro power plant with capacity of 5.2 megawatts (MW) in Sapaya, South Sulawesi.
“If there were no hurdles, the construction of plant will be completed and begins commercial operation in 2017,” Elan B. Fuadi, president director of PT Sumberdaya Sewatama, said in a media statement.
The microhydro plant, PLTM Sapaya, will be developed by a joint venture company between PT Nagata Dinamika, a subsidiary of PT Sumberdaya Sewatama and a regional government company Perusahaan Daerah Gowa Mandiri. Both parties have set up a JV firm called PT Punggawa Nagata Dinamika Hidro, the majority share of which is owned by Nagata with 86 percent and the remaining 16 percent shares are held by Gowa Mandiri.
The electricity produced by PLTM Sapaya will be delivered to the state electricity company PT PLN through its Kalebajeng power grid.
Sewatama is also developing other microhydro power plant, such as PLTM Ma’dong in North Toraja, Sulawesi with capacity of 10 MW. The power plant, which is expected to begin commercial operation in 2016, will supply electricity to Rantepao area, which is well-known for its tourism industry.
With regard to its bonds worth Rp 1 trillion issued in 2012, the company sets aside Rp23 billion to pay coupon bonds due this year. The bonds which was issued in three tranches with different coupon rate (Series-A worth Rp219 billion with coupon rate of 8.6 percent, Series B worth Rp581 billion with coupon rate of 9.6 percent and Sukuk Ijarah worth Rp200 billion with coupon rate of 9.6 percent). (*)