PT Bukit Asam Tbk (PTBA) officially commenced the commercial operation of the Mine Mouth Sumsel-8 Coal Power Plant on October 7, 2023.
The Mine Mouth Sumsel-8 Coal Power Plant is a result of a strategic collaboration between PTBA and China Huadian Hongkong Company. The function of this coal power plant is to supply electricity to PLN for public use in the electrical system in Sumatra.
PTBA's President Director, Arsal Ismail, explained in a disclosure to the Indonesia Stock Exchange (IDX) that the Mine Mouth Sumsel-8 Coal Power Plant, located in Tanjung Lalang, South Sumatra, has a capacity of 2x660 megawatts (MW).
"We hope that the Tanjung Lalang Coal Power Plant can assist PLN in meeting the electricity needs in the Sumatra region and create a multiplier effect for economic growth, contributing to development," Arsal stated.
He further detailed that the Mine Mouth Sumsel-8 Coal Power Plant requires an annual supply of 5.4 million tons of coal, with a project investment value of USD 1.68 billion or approximately IDR 26.54 trillion.
Arsal also explained that the Mine Mouth Sumsel-8 Coal Power Plant will utilize efficient and environmentally friendly supercritical technology, capable of reducing exhaust gas. Additionally, the coal power plant will implement Flue Gas Desulfurization (FGD) technology to reduce sulfur dioxide emissions from coal power plant exhaust gases.
According to information from IDX, Jisman Hutajulu, the Director General of Electricity at the Ministry of Energy and Mineral Resources (ESDM), stated that electricity demand in Sumatra continues to rise.
"Therefore, the Mine Mouth Sumsel-8 Coal Power Plant plays a crucial role in meeting this increasing demand," clarified Jisman.
PTBA's Financial Performance Declines
In the latest financial performance report for the third quarter of 2023, PTBA disclosed a net profit of IDR 3.8 trillion at the end of September 2023.
However, PTBA's net profit realization experienced a 62% year-on-year decline compared to the same period last year, reaching IDR 10 trillion. In terms of revenue, PTBA recorded a total revenue of IDR 27.7 trillion, representing a 10.84% decrease compared to the same period last year, which amounted to IDR 31.07 trillion.
Image source: PTBA
Source: www.trenasia.com/Bukit Asam PTBA Resmi Jalankan PLTU Sumsel 8 Nilai Investasi Capai Rp 26 Triliun
