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Jakarta Post

South Korean firm eyes $650m green energy project in RI

  • Norman Harsono

    The Jakarta Post

Jakarta   /   Tue, January 21 2020   /  01:54 am

A South Korean power producer is looking to finance a hydropower plant project in Central Java that would be the coal buyer’s first renewable energy deal with Indonesia.Korea Southern Power (KOSPO) is currently reviewing a feasibility study to develop the 230-megawatt (MW) Maung hydropower plant in Banjarnegara, Central Java, with Indonesian state-owned construction firm Nindya Karya and power producer Indonesia Power, a subsidiary of state electricity firm PLN. They estimated the hydropower plant development to cost US$650 million.“If every condition is reasonable, KOSPO will be an equity investor. We will have a joint operation with Indonesia Power,” said KOSPO overseas business senior manager Chong Ryu after signing a memorandum of understanding (MoU) with the Indonesian companies in Jakarta on Friday.South Korea is among the many major economies — including China and the Unit...