Ketapang Smelter power station

From Global Energy Monitor

Ketapang Smelter power station is an 80-megawatt (MW) coal-fired power plant in West Kalimantan Province, Indonesia. An additional 80 MW is under development.

Location

The map below shows the location of power station at the alumina refinery in Ketapang Regency, West Kalimantan Province. Satellite photos from Planet appear to show construction on the second unit from February 2019 to May 2019.

Loading map...

Background on Project

In July 2013, PT Cita Mineral Investindo, a subsidiary of the Harita Group, began construction on the first of two phases of the massive Well Harvest Ketapang aluminum smelter in West Kalimantan, at a total cost of $1 billion.[1] The first phase apparently includes a three-unit, 80-MW coal-fired power plant and is expected to be completed in 2016.[2] It began operating in June 2016.[3]

Expansion

In 2013, it was announced that a second phase consisting of a three-unit 80-MW coal plant would be completed by 2016.[4][5] In October 2017 it was reported that construction of the second phase would begin in 2018.[6]

Ownership

As of April 2014, Harita had apparently sold a 60% stake in the Well Harvest Ketapang project to China Hongqiao Group, retaining only a 25% share.[2]

In May 2016, the ownership structure was described as 30 percent Harita Grou, 56 percent China Hongqiao Group, 9 percent Winning Investment (Hongkong) Company, and 5 percent Shadong Weiqiao Aluminum and Electricity Company.

Financing

Ketapang-1: In January 2017, a financing agreement for the Ketapang-1 facility, including the power plant, was closed. US$330 million in loans was provided by Indonesia Eximbank, Bank of China, OCBC Bank, and DBS Bank.[2][7] US$421 million in equity was provided by China Hongqiao Group, Harita Group, and Winning Investment. DBS Bank acted as financial adviser to the sponsors.[7]

Ketapang-2: In November 2019, a financing agreement for the Ketapang-2 facility, including the power plant, was closed.[8] US$595 million in loans was provided by the Bank of China, DBS Bank, Indonesia Eximbank, OCBC Bank, BNP Paribas, and China Exim Bank. US$144.20 million in equity was provided by China Hongqiao Group, Cita Mineral Investindo, Winning Investment, and Shandong Weiqiao Aluminium Electricity.[9]

Project Details

  • Sponsor: PT Well Harvest Winning Alumina Refinery
  • Parent company: Harita Group (30%), China Hongqiao Group (56%), Winning Investment Co. (9%), Shandong Weiqiao Aluminum an dElectricity Co. Ltd. (5%)
  • Location: Kendawangan District, Ketapang Regency, West Kalimantan Province, Indonesia
  • Coordinates: -2.3661823,110.1572717 (exact)
  • Status: Operating (Ketapang-1); Construction (Ketapang-2)
  • Gross capacity: 160 MW (Ketapang-1: 2 x 25 MW and 1 x 30 MW; Ketapang-2 Unit 3: 2 x 25 MW and 1 x 30 MW)
  • Type: Subcritical
  • In service: Ketapang-1 Units 1-3: 2016; Ketapang-2 Units 1-3: 2022[10]
  • Coal type:
  • Coal source:
  • Source of financing: Ketapang-1 (this loan applies to the expansion of the whole facility, including the power plant): US$330 million in debt from Indonesia Eximbank, Bank of China, OCBC Bank, and DBS Bank;[2][7] US$421 million in equity from China Hongqiao Group, Harita Group, and Winning Investment;[7] Ketapang-2 (this loan applies to the expansion of the whole facility, including the power plant): US$595 million in debt from the Bank of China, DBS Bank, Indonesia Eximbank, OCBC Bank, BNP Paribas, and China Exim Bank; US$144.20 million in equity from China Hongqiao Group, Cita Mineral Investindo, Winning Investment, and Shandong Weiqiao Aluminium Electricity[9]

Articles and resources

References

  1. Well Harvest Mulai Bangun Smelter Terbesar di Indonesia, Investor Daily, 18 July 2013.
  2. 2.0 2.1 2.2 2.3 Bangun Smelter, Cita Mineral Cairkan Pinjaman US$ 150 Juta, Berita Satu, 10 Apr. 2014.
  3. Grace D. Amianti, "Cita Mineral to produce Indonesia’s first alumina," The Jakarta Post, June 17 2016
  4. Harita Group Investasi Smelter Rp 10 Triliun, Indonesia Ministry of Industry, 25 Oct. 2013.
  5. "Harita Group Tuntas Bangun Smelter Tahap I di Ketapang," CNN Indonesia, 21 May 2016
  6. Gubernur Kaltara Kunjungi Industry Smelter PT WHW di Ketapang Merit 7, Oct. 31, 2017
  7. 7.0 7.1 7.2 7.3 "Preview of Well Harvest Ketapang Alumina Refinery Phase 1 | Transaction | IJGlobal". ijglobal.com. Retrieved 2020-11-06.
  8. Silaen, Linda (2019-12-02). "Chinese Hongfa, Cita Mineral Build Second Alumina Plant in West Kalimantan". The Insiders Stories. Retrieved 2020-11-06.
  9. 9.0 9.1 "Preview of Well Harvest Ketapang Alumina Refinery Phase 2 | Transaction | IJGlobal". ijglobal.com. Retrieved 2020-11-06.
  10. Chinese Hongfa, Cita Mineral Build Second Alumina Plant in West Kalimantan, The Insider Stories, Dec. 2, 2019

Related GEM.wiki articles

External resources