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Bank of China provides $408 million loan for 600MW Cilacap Power Plant Phase 1 Construction Project (Linked to Record ID#34748, #61465, #69234)
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | PT Sumber Segara Primadaya (S2P) |
| Country | Indonesia |
| Start Date | Jun 01, 2003 |
| End Date | Jul 24, 2032 |
| Duration | 10,646 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 34801 |
Grant Description
Bank of China provides $408 million loan for 600MW Cilacap Power Plant Phase 1 Construction Project In 2003, Bank of China and PT Sumber Segara Primadaya (S2P) — a joint venture of PT Sumberenergi Sakti Prima (SSP) and PT Pembangkit Jawa Bali (PJB) — signed a $408 million loan agreement for the 600MW Cilacap Power Plant Phase 1 Construction Project.
SSP holds a 51% ownership stake in S2P and PT Pembangkit Jawa Bali (PJB) — a subsidiary of Perusahaan Listrik Negara (PLN), an Indonesian state electricity distribution company — holds a 49% ownership stake in S2P. The loan carried an interest rate of 3.8%. Its maturity and grace period are unknown.
The proceeds of the loan were to be used by the borrower to finance 80% of the cost of a $510 million EPC contract with China Chengda Engineering Co., Ltd., which was signed in June 2003.
The purpose of the project was to install two 300MW power generation units (Unit 1 and Unit 2) at the Jawa-8 Coal-Fired Power Plant (also known as the Cilacap Power Station).
The plant is located in the villages of Karangkandri, Menganti and Slarang within Kesugihan subdistrict, Cilacap Regency, and Central Java province. China Chengda Engineering Co., Ltd. was the general EPC contractor responsible for implementation.
Construction was originally expected to begin in June 2003, with the first 300MW power generation unit taking 25 months to complete and the second 300MW power generation unit taking 29 months to complete. The EPC contract officially went into effect on December 29, 2003 and construction began shortly thereafter.
Unit 1 passed a 168-hour trial run operation on February 28, 2006. Unit 2 passed a 168-hour trial run operation on August 2, 2006. Unit 1 and Unit 2 were handed over to the project owner (S2P) in April 2006 and September 2006, respectively.
The power plant was officially inaugurated by Indonesian President Susilo Bambang Yudhoyono and put into operation on November 14, 2006. As part of Indonesia's goal of net-zero emissions by 2050, the Cilacap power station was retired in 2023.
Staff Comments
- This project is also known as the Phase 1 of the Jawa-8 (Cilacap) Power Plant Project, the Cilacap 2x300MW-CFSPP Power Plant Project, and the 2x300MW MW Cilacap Power Plant Construction Project. The Chinese project title is 2x300MW火电厂 or 芝拉扎电站项目 or 芝拉扎2X300MW燃煤电站项目.
- CDB provided an additional loan for Phase 2 of the Jawa-8 (Cilacap) Power Plant Project (captured in Project ID#34748). Bank of China and CDB also provided loans for Phase 3 of the Jawa-8 (Cilacap) Power Plant Project (captured in Project ID#46420 and ID#61465).
Sources & References
- Business in Asia Today - June 3, 2003.
- Cilacap eyes Chinese funding
- China-Indonesia built coal fired steam power plant starts operation
- Cilacap Sumber power station
- Indonesian Business: The Year in Review 2006
- Cilacap Power Plant
- Reports on Taking Over and Inspection of 1# and 2# Units of Indonesia CILACAP 2X300MW Coal-fired Power Plant Project
- 芝拉扎电站隆重举行竣工典礼仪式
- 我承建印尼芝拉扎发电厂竣工
- 印尼总统主持中国承建的芝拉扎燃煤发电厂竣工仪式
- PLTU Cilacap Jadi Acuan
- Kapasitas PLTU Cilacap Akan Ditambah 600 MW
- Presiden Resmikan PLTU Cilacap 2 x 300 MW
- Slowing the Growth of Coal Power Outside China: The Role of Chinese Finance
- CNCEC Board Chairman Lu Hongxing Visits Chengda's Indonesia Projects
- Products and Services
- 成达公司芝拉扎电站项目采购管理研究
- 芝拉扎电厂燃煤电站项目
- Indonesia CILACAP power plant Supervisory Information System in Plant Level (SIS)
- 中国化学工程总承包的印尼芝拉扎电站移交业主
- Reports on Taking Over and Inspection of 1# and 2# Units of Indonesia CILACAP 2X300MW Coal-fired Power Plant Project
- Financing Indonesia's coal phase-out: A just and accelerated retirement pathway to net-zero
- Work From Home (WFH) and other gimmicks cannot clear Jakarta’s air
- Cilacap Sumber power station Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
PT Sumber Segara Primadaya (S2P)
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