Cikarang Listrindo (POWR) Will Commercialize Renewable Energy Generation This Year

Public News|April 16, 2019

Jakarta, April 16, 2019 - PT Cikarang Listrindo Tbk plans to commercialize renewable energy generation in 2019.

Director of Finance Cikarang Listrindo Christanto Pranata said that this is one of the Company's transformations to provide a better service.

"In 2018 solar panels started to being explored, and a feasibility study on the application of biomass in PLTU Babelan was being prepared. And this year, we are going to apply them, "he said in Jakarta, Tuesday (4/16/2019).

However, Christanto said the Company is not able yet to confirm the increase in power from the renewable generation.

The Company can only confirm the increase in power after the feasibility study is complete. "Only after collecting sufficient information, that we are able to determine the optimal level," he said.

The issuer coded as POWR has budgeted for capex of around US$ 40 million-US$ 50 million which will be obtained through the Company's internal funding.

Meanwhile, around US$ 20 million - US$ 25 million of the budgeted capital expenditure will be used for maintenance purposes for gas and coal power plants. "The remaining budget will be for distribution activities and development of renewable projects," he concluded.

Source: (English version translated by the Company)