JAKARTA (Yosefardi) – Coal miner PT Adaro Energy Tbk (ADRO) reported that PT Bhimasena Power Indonesia (BPI), a company 34% owned by PT Adaro Power, a wholly-owned subsidiary of the Company, has signed a Power Purchase Agreement (PPA) amendment with state electricity company PT PLN (Persero) (PLN) on 31 October 2014.
In the PPA amendment, the time limit was extended to achieve Financial Closure for BPI’s 2 x 1,000 MW Coal Power Plant Project in Batang, Central Java (PLTU Batang).
The amended date, effective since 6 October 2014, was extended to 6 October 2015.