February 24, 2017 12:23 PM ET

Electric Utilities

Company Overview of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara

Company Overview

Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, together with its subsidiaries, generates, distributes, and supplies electricity in Indonesia. The company also engages in cogeneration; energy service and management; coal trading; supervision and consultation; trading, construction, mining, and agriculture; engineering, procurement, and construction; finance; and shipping activities, as well as provides electricity and engineering services, and telecommunication services. In addition, the company is involved in the development of geothermal energy and electricity supplies; construction of gas pipelines; and operation of other energy sectors. Perusahaan Perseroan (Persero) PT Peru...

Jalan Trunojoyo Blok M 1/135

Kebayoran Baru

Jakarta,  12160

Indonesia

Founded in 1961

50,269 Employees

Phone:

62 21 726 1875

Fax:

62 21 722 1330

Key Executives for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara

President Director
Age: 57
Director of Finance and Director
Age: 63
Head of Power System Planning Division
Age: 57
Head of Commercial Division
Age: 56
Head of Budget Monitoring Planning Division
Age: 48
Compensation as of Fiscal Year 2016.

Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara Key Developments

PLN Drops Out Of The Bidding For Chevron Geothermal Assets

Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara is not willing to bid for geothermal assets put up for sale by Chevron Corporation (NYSE:CVX), Reuters reported. PT Perusahaan retreated because of concerns over governance, according to Nicke Widyawati, Corporate Planning Director at PLN. "We see that data on governance is not complete and hasn't been fulfilled so we cannot provide a price proposal," Widyawati stated.

PT PLN Signs Loan Agreement in Buyers Credit Totaling up to Approximately JPY 19 billion with The Japan Bank for International Cooperation

The Japan Bank for International Cooperation signed on October 20, 2016 a loan agreement in buyers credit (export loan) totaling up to approximately JPY 19 billion and USD 27 million (JBIC portion) with PT PLN (Persero). The agreement was signed at the 6th annual meeting for the Financial Policy Dialogue held between JBIC and Indonesia’s Ministry of Finance in Jakarta. The loans are co-financed with The Bank of Tokyo-Mitsubishi UFJ Ltd. (facility agent), Mizuho Bank Ltd., and Australia and New Zealand Banking Group Limited (ANZ), bringing the total co-financing amount to approximately JPY 31.7 billion and USD 45 million, with Nippon Export and Investment Insurance (NEXI) providing insurance for the portion co-financed by the three private-sector banks. The loan is intended to provide financing for PT PLN (Persero) to purchase a complete set of facilities, including gas turbine, steam turbine and waste heat recovery boiler (MITSUBISHI HITACHI POWER SYSTEMS, LTD.) and power generator (Mitsubishi Electric Corporation), from Mitsubishi Corporation and other entities for the construction of the 800 MW Jawa-2 gas-fired combined cycle power plant in Tanjung Priok, a sub-district of Jakarta on the island of Java, Indonesia. In order to respond to the country’s surging electricity demand which has risen in line with continued economic growth, the Indonesian government has committed to promote its 35 GW power plants development plans for the five years from 2015 to 2019. The Jawa-2 combined cycle power plant is part of this power development plan. Through JBICs support for the export of power generation equipment by Japanese companies, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries, and, at the same time, it is expected to support Indonesia’s economic development by realizing steady power supply.

Perusahaan Listrik Negara Secures IDR 12 Trillion Loan from State Lenders

Perusahaan Listrik Negara has secured loans worth up to IDR 12 trillion from state lenders to help fund the governments ambitious project to build enough power plants to produce an additional 35,000 megawatts (MW) of electricity for the country. The loan agreement with Bank Mandiri, Bank Negara Indonesia (BNI) and Bank Rakyat Indonesia (BRI) was signed on September 9, 2016 and will mature within one year. PLN plans to use the loan to fund the construction of an electricity transmission network connected to the new plants.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 11, 2016
PT Pertamina Geothermal Energy
Private Placement
June 23, 2016
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