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Cikarang Listrindo and GE Signed a Cooperation Agreement
Public News|May 26, 2016
On October 26, 2015, we signed a Memorandum of Understanding (“MoU”) with GE Capital concerning the development of a planned 1,100 to 1,400 MW gas-fired combined cycle electricity generation facility in Indonesia utilizing General Electric’s Frame 9HA gas turbine model. The plant is intended to be built on land currently owned by us and located in the MM-2100 industrial estate. The MoU sets forth the intended framework for the development of the new gas-fired electricity generation facility for the benefit of both parties. This transaction is subject to the parties’ reaching definitive agreements setting forth the details of terms and conditions of the cooperation, including our securing a power purchase agreement with PLN for at least an additional 1,100 MW of supply.