ADCO Law represented PT Berkah Kawasan Manyar Sejahtera (“BKMS”), a subsidiary of PT AKR Corporindo, Tbk and the operator of JIIPE Industrial Estate in Gresik, East Java in a Power Purchase Agreement with PT PLN (Persero) (“PLN”) and back-to-back Power Purchase Agreement to PT Freeport Indonesia (PT FI).
PLN will supply the electricity needs of 170 MVA to the mineral processing and refining facility (smelter) owned by PT FI located in the Gresik JIIPE Industrial Zone, East Java. The electricity supply for PT FI smelter is supplied through two 150 kV subsystems i.e., the Krian 3.4 subsystem and the Ngimbang subsystem with 2 circuits each. In this Power Purchase Agreement, PT FI smelter becomes a premium platinum electricity customer.
“We are very pleased to able to draw on our strong expertise in project financing. Furthermore, despite facing many challenges in increasing economic growth in this outbreak situation, the agreement proved that investment in Indonesia will increase, for instance, through the JIIPE Industrial Estate as the first integrated industrial area in Indonesia. As Indonesian and international companies increasingly look to Indonesia for opportunities in electricity, we strongly believe that this successful deal will be growing rapidly”, said Dendi Adisuryo, Partner of ADCO Law.
The ADCO Law team was led by Dendi Adisuryo (Partner) including the team, Adimas Wicaksono (Mid-Associate), and Gabriela Riwu Kore (Junior Associate).