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Demand for electricity in Indonesia has surged during the last decade and the government aims to dramatically expand power generation and transmission capacity. IFC acted as transaction advisor for PT Perusahaan Listrik Negara on the selection of the appropriate private sector investor for the Central Java Power Plant through a fair, competitive and transparent tender process.
A Japanese-Indonesian consortium consisting of J-Power, Itochu Corporation, and Adaro Power won the bid for a 25-year contract to build, own, operate and transfer the new facility. The project, which is expected to start operations in 2016, includes a 2,000-megawatt power plant and will improve access to electricity for 7.5 million people. It is the first project to be implemented under Indonesia’s new Public-Private Partnership regulations, laying the groundwork for future public-private infrastructure projects.