Riau IPP moving forward

PT Medco Ratch Power Riau (MRPR) – a joint venture between Medco Power (51%) and Ratchaburi Electricity Generating Holding (49%) – is progressing on the raising of around $250 million of debt for the $300 million 275MW Riau IPP gas-fired power project in Indonesia.  Asian Development Bank, MUFG (also financial adviser), SMBC and IFC are lead arranging the deal.The sponsors have Norton Rose Fulbright as legal counsel, while Milbank is acting for the lenders.

Perusahaan Listrik Negara (PLN) awarded the IPP concession in April 2017, and in the same month, MRPR signed a 20-year PPA with the state-owned power company. Riau is scheduled for operation in 2021.