Samsung C&T to invest US$150 mln in RI solar power

Jakarta (ANTARA News) - Samsung C&T of South Korea plans to invest US$150-200 million in Indonesia`s solar power plant with a capacity of 50 MW.

"The Samsung C&T president has expressed commitment that the company is very serious about developing solar energy in Indonesia," Coordinating Minister for Economic Affairs Hatta Rajasa said following a meeting with Samsung C&T President and CEO Shin Kim here on Friday.

To develop the project, Samsung C&T was expected to sign a memorandum of understanding with Indonesia`s PT Land and state electricity company PT PLN in Bali in May 2011 on the occasion of South Korea-Indonesia ministers meeting, he said.

Amir Sambodo, special assistant to the coordinating minister for economic affairs said Samsung C&T was planning to invest US$150-200 million in a solar power plant on the assumption the project would cost US$3 million per megawatt.

To that end, the company had applied for a permit to conduct a feasibility study on the grounds the solar power plants developed by PLN in 10 different places in Indonesia now had a maximum capacity of 1 megawatt, he said.

Amir said Samsung was exploring the possibility of developing a special area for solar power plant in Java, Bali or other islands having the capacity to develop a power plant with a capacity of 50 MW, he said.

The Korean company was in the process of applying for a permit to the Coordinating Ministry for Economic Affairs, the Industry Ministry, the Energy and Mineral Resources Ministry and the Investment Coordinating Board, he said. (*)