Banten Serang power station

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Banten Serang power station is an operating power station of at least 660-megawatts (MW) in Salira, Pulo Ampel, Serang, Banten, Indonesia with multiple units, some of which are not currently operating. It is also known as 云顶集团万丹电站.

Location

Table 1: Project-level location details

Plant name	Location	Coordinates (WGS 84)
Banten Serang power station	Salira, Pulo Ampel, Serang, Banten, Indonesia	-5.882972, 106.045929 (exact)

The map below shows the exact location of the power station.

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Unit-level coordinates (WGS 84):

• Unit 1, Unit 2: -5.882972, 106.045929

Project Details

Table 2: Unit-level details

Unit name	Status	Fuel(s)	Capacity (MW)	Technology	Start year	Retired year
Unit 1	operating	coal - unknown	660	supercritical	2017	–
Unit 2	cancelled	coal - unknown	660	supercritical	2025	–

Table 3: Unit-level ownership and operator details

Unit name	Owner
Unit 1	PT Lestari Banten Energi (LBE) [100.0%]
Unit 2	PT Lestari Banten Energi (LBE) [100.0%]

Background

PT Lestari Baten Energi, a subsidiary of the Malaysian Genting Group, is currently building a single-unit coal-fired power plant with a planned capacity of 670 MW in Banten Province. The plant is scheduled to be completed in 2017. Total cost of the project is expected to be $1 billion.

The project was carried out through a public tender process using the BOOT scheme (Build, Own, Operate and Transfer). Under the BOOT system, the plant will become an asset of the state electricity company, PT PLN, after its 25-year contract expires. The power purchase agreement (PPA) was signed in early July 2012. The project was scheduled to reach its financing date within 12 months of the signing of the PPA. Engineering, procurement, and construction (EPC) is being carried out by Harbin Power Engineering, a subsidiary of Chinese company Harbin Electric, with Swiss company ABB building the plant's automation system.

As of early 2015, ABB stated that the plant would go online in mid-2016, earlier than the original 2017 start date.

The PT PLN Long Range Plan for 2016-2025 lists completion in 2017 and describes the project as 625 MW in size.

According to a January 2017 press report, construction was complete and the plant's commercial operation date (COD) was May 2017. Of the 660 MW of capacity, PLN will buy 600 MW and the remaining 60 MW will be used by Lestari Banten Energy for its own purposes. As of March 2017, operational tests were underway.

According to a June 2017 report, the plant was operating in March 2017.

Proposed Expansion

The Indonesia Electricity Supply Business Plan (RUPTL) for 2018-2027 lists a proposed second Unit for the plant, with a capacity of 660 MW and an in-service date of 2025. The cost of the expansion is an estimated US$1 billion. In October 2021 the proposed expansion was shelved under the government's long-range plan for 2021-2030.

In October 2023, with no apparent updates since the project was shelved, the Banten Serang power station expansion was presumed to be cancelled.

Financing

• Parent company: Genting Group 55%, SDIC Power Holdings 40%, PT Hero Inti Pratama (5%)
• Cost: US$1 billion (US$1,515 per kW)
• Source of financing: US$730 million in debt from Citigroup, EXIM Bank of Malaysia, CIMB Bank, Maybank, and RHB Bank; US$268 million in equity from Genting Group and Hero Inti Pratama; US$775 million refinancing via a bond issuance arranged by Citigroup, Barclays, CIMB Group, and Sumitomo Mitsui Banking Corporation

Financial closure for Banten 1 was reached in July 2013. US$730 million in debt was provided by Citigroup, EXIM Bank of Malaysia, CIMB Bank, Maybank, and RHB Bank. US$268 million in equity was provided by Genting Group and Hero Inti Pratama.

On February 4, 2019, a US$775 million bond issuance took place for the refinancing of Banten 1. The banks on the issuance were Citigroup, Barclays, CIMB Group, and Sumitomo Mitsui Banking Corporation. Through an inter-company loan, proceeds from the refinancing were lent to the project company Banten 1 by the issuer LLPL Capital.

SDIC and coal financing

In March 2019, China's State Development Investment Corp. (SDIC) announced that it would no longer invest in new coal-fired power plants, but declined to comment on its investments in coal-fired plants already being developed. SDIC's subsidiary Jaderock Investment acquired a 40% stake in Banten Serang power station in May 2016.

Articles and Resources

Additional data

To access additional data, including an interactive map of coal-fired power stations, a downloadable dataset, and summary data, please visit the Global Coal Plant Tracker on the Global Energy Monitor website.