Home » Business » Legitimate! PLN Officially Acquires Rokan Block Power Plant

Legitimate! PLN Officially Acquires Rokan Block Power Plant

Jakarta, CNBC Indonesia PT PLN (Persero) officially acquired the Rokan Block power plant with a capacity of 300 Mega Watts (MW) managed by PT Mandau Cipta Tenaga Nusantara (MCTN).

It is marked by signing Share Sale & Purchase Agreement (SPA) or Share Purchase Agreement between PT PLN (Persero) and MCTN shareholders, one of which is Chevron Standard Limited (CSL), a business unit of Chevron, the majority shareholder of MCTN, today, Tuesday (06/07/2021).

With the signing of this SPA, PLN ensures that electricity supply to the Rokan Block when PT Pertamina (Persero) through its business unit PT Pertamina Hulu Rokan (PHR) takes over the management of this block from Chevron Pacific Indonesia next month, on August 9, 2021, will run smoothly.

Chevron Standard Limited (CSL), an affiliate of Chevron, previously owned 95% of MCTN’s shares.

PLN President Director Zulkifli Zaini said, with the signing of this SPA, PLN officially acquired 100% of PT MCTN.

“PLN is committed to supplying electricity to the Rokan Block since the signing of this SPA,” he said during the signing of the CSPA with MCTN, Tuesday (06/07/2021).

As is known, PLN has also signed a power and steam sale and purchase agreement with PHR on February 1, 2021. This agreement is divided into two, namely short-term and long-term.

In the short term, PLN must use existing assets because production cannot stop. With the acquisition of the MCTN power plant, it means that the company can ensure the flow of electricity to the Rokan Block will continue to run smoothly when Pertamina takes over the Rokan Block next month.

The electricity supply from the Cogen NDC MCTN PLTG power plant can last for at least the next three years.

Meanwhile, to supply long-term electricity, PLN takes about three years to build the Sumatra electricity interconnection system to the Rokan Block.

“We hope that there will be good partnerships and cooperation and there will be other cooperation opportunities in the future. Hopefully this can encourage Indonesia’s economic growth,” he said.

The MCTN power plant with a capacity of 300 Mega Watts (MW) has been built since 20 years ago with an investment value of around US$ 190 million or around Rp. 2.7 trillion (assuming an exchange rate of Rp. 14,500 per US$).

PLN and CSL are said to have communicated to acquire CSL’s stake in MCTN since November 2020.

[Gambas:Video CNBC]

(wia)


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