24 February 2017 – Equis Asia Fund II, through its Indonesian platform Redaya Energi and PT Energi Bayu Jeneponto (together, “Equis”), is pleased to announce that it has signed Engineering, Procurement and Construction (“EPC”) and Operations and Maintenance (“O&M”) contracts for the Tolo I Wind Farm in Jeneponto, South Sulawesi, Indonesia. The contracts were awarded to Siemens Wind Power and PT Siemens Indonesia in Consortium with PT Pembangunan Perumahan (Persero) Tbk. (“PTPP”).
The contract signing took place in February 2017 at Equis’ office in Jakarta.
Tolo I Wind Farm will install 20 Siemens direct drive wind turbines, injecting power into PLN’s Jeneponto substation via a high‐voltage transmission line. Construction is set to commence later this year with an expected Commercial Operation Date in 2018.
David Russell, CEO of Equis, stated, “Indonesia is set for a period of rapid, sustained growth in energy demand, and the Indonesian government has set sensible targets for renewable energy to satisfy a large share of this demand. Equis is committed to leveraging our experience and expertise in Indonesia to support these government initiatives and to deliver low cost power and jobs for the benefit of local communities.”
The Tolo I Wind Farm contributes to Indonesian President Joko Widodo’s 35,000 MW of additional capacity by 2019 program, as well as the nation’s 23% renewable energy target. Equis is currently finalising the development of a number of other renewable energy projects in Indonesia with a targeted equity investment of more than US$500 million over the next 24 months.
