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Financial close reached for 1.8 GW Jawa-1 CCGT project (Indonesia)

Indonesian state-owned oil and natural gas corporation PT Pertamina and its partners Marubeni Corporation and Sojitz have reached financial close for the Jawa-1 gas-to-power project in Cilamaya, West Java (Indonesia). The agreement calls for co-financing by several banks including the Japan Bank for International Cooperation (JBIC) and the Asian Development Bank. All funding will be covered by Nippon Export and Investment Insurance (NEXI).



The gas-to-power project covers the integrated development, construction, and operation of a 1,760 MW gas-fired CCGT power plant and a 3.8 Mt/year (5.1 bcm/year) floating, storage and regasification unit (FSRU) to store and regasify LNG. The construction of both the power plant and the FSRU will begin later in December 2018. Once the construction is completed in 2021, Jawa-1 will deliver power to the Indonesian state-run utility PT PLN for a 25-year period.

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