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PRESS RELEASE 20 Feb 2018

Pöyry provides lenders technical advisory services as Cirebon 2 power plant project in Indonesia achieves financial close

PÖYRY PLC   Press Release  20 February 2018  

Financial close for Cirebon 2 ultra-supercritical coal fired power plant in Indonesia was achieved last November. The 1000 MW plant, located in the West Java Province, expands the initial 660 MW capacity of Cirebon 1 project, increasing the production capacity in this location, scheduled to be commercially operational by February 2022.

Pöyry has acted as the Lender's Technical Advisor (LTA) for the project since December 2015 and is set to continue to act as LTA during the project's construction phase. Once operational, the expanded plant is expected to supply power to Perusahan Listrik Negara (PLN), Indonesia's state-owned electricity company, to meet the country's increasing demand in electricity attributed to its continuous economic growth. 

"Pöyry is committed to continue supporting the government of Indonesia in ensuring reliable and stable electricity for its people. We hope that through our technical expertise, we will be able to contribute in projects such as Cirebon 2, and be a pivotal partner in providing the best facilities and utilities that will boost the country's power generation capacity," said Kishore Dass, President Director, PT Pöyry Indonesia. 

The Cirebon project is being developed by Cirebon Energi Prasarana, a Marubeni-led consortium which also includes Indika Energy, Samtan, Korea Midland Power, and JERA. Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), and the Export-Import Bank of Korea (K-EXIM), comprise its Lenders group. 

Additional information:

Kishore Dass
President Director, PT Pöyry Indonesia
Tel. +62 21 252 6668-69

Did you know? 
· Pöyry is one of the largest power sector consulting engineering companies in South East Asia, involved in over 30,000 MW of on-going thermal, hydro and renewable energy projects in the region
· Pöyry has been involved as lenders technical advisor in more than 30,000 MW of power plant projects globally. 
· In Indonesia, Pöyry is currently working on projects, either under development or construction, with a generating capacity in excess of 10,000 MW

About Pöyry

Pöyry is an international consulting and engineering company.  We serve clients across power generation, transmission & distribution, forest industry, biorefining & chemicals, mining & metals, infrastructure and water & environment. Together, we deliver smart solutions and work with the latest digital innovations. Pöyry's net sales in 2017 were EUR 522 million. The company's shares are quoted on Nasdaq Helsinki. Approximately 5500 experts. 40 countries. 115 offices.

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