Kencana Energi Lestari Wins Tobelo Solar Power Project

Major Renewable Energy Milestone

Kencana Energi Lestari (KEEN), listed on the Indonesia Stock Exchange, has achieved a significant breakthrough in the renewable energy sector by winning the tender for the Tobelo Solar Power Plant project. The project, located in North Halmahera, North Maluku, will have a capacity of 10 MegaWatt (MW) with an accompanying 8.4 MWh battery storage system.

Project Details and Significance

The Tobelo Solar Power Plant will be developed under an Independent Power Producer (IPP) scheme in collaboration with PLN, Indonesia's state-owned electricity company. This represents KEEN's first solar power project that will have a Power Purchase Agreement (PPA) with PLN, marking a crucial step in the company's expansion into renewable energy generation. The project is expected to be built in Tobelo Utara, Halmahera Utara, North Maluku.

Company Perspective

Giat Widjaja, KEEN's Finance Director, highlighted that this achievement represents a new milestone for the company as it ventures into solar power generation with a formal PPA. The successful tender demonstrates KEEN's growing capabilities in the renewable energy space and positions the company favorably in Indonesia's increasingly competitive clean energy market.

Market Impact

This project win not only strengthens KEEN's position in the renewable energy sector but also contributes to Indonesia's renewable energy targets. The development of solar power projects like Tobelo is crucial for Indonesia's energy transition and reducing reliance on fossil fuels.