35,000 MW program to absorb Rp 1.1 quadrillion
Energy and Mineral Resources Minister Sudirman Said has said that the 35,000 megawatt (MW) program recently launched by the government will cost Rp 1.1 quadrillion (US$88 billion).
“We need Rp 1.1 quadrillion trillion to finance the program, so there’ll be room for the capital market to contribute financing,” he said during the program’s launch in Bantul, Yogyakarta, on Monday.
The government, Sudirman said, would invite the private sector to invest in power supply through the independent power producer scheme.
According to the minister, the power program is one of a raft of major programs prepared by the current government to provide power and boost economic growth.
Based on the government’s assessment, the country’s economic growth will be 5 to 6 percent in coming years, and the country will need 7,000 mW annually.
Sudirman added that the government would formulate regulation to provide legal certainty to encourage and convince investors to invest in power development.(rms)(+++)
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