Execution of Power Purchase Agreement for Paiton 3 Coal-fired Power Plant Expansion Project

05.08.08 - 14:15 ... source : Mitsui and Co.

... 2008.08.04 Mitsui & Co., Ltd. ("Mitsui"), hereby announces that PT Paiton Energy ("PE"), which is an independent power producer in Indonesia, jointly owned by Mitsui (share 36%), IPM Eagle LLP (45%, a partnership consisting of International Power plc and Mitsui), The Tokyo Electric Power Company, Inc. (14%) and PT BHP (5%), has obtained exclusive negotiation rights to promote the Paiton 3 coal-fired power plant (the "Expansion Project") at the Paiton Power Generation Complex ("Paiton Complex") in East Java and executed a power purchase agreement ("PPA") for the Expansion Project with the Indonesian state-owned power company, PT PLN ("PLN"), on August 4, 2008. Mitsui, as a major shareholder of PE since its foundation in 1994, has been continuously engaging in the operation and management of PE who achieved commercial operation of a 1,230 MW coal fired power unit in Paiton Complex in 19 ...» Next (HTML)