Indonesian Banten 670-MW Thermal Power Project Contracted by HEI is Awarded Asia-Pacific Best Power Project Financing Award for 2013

Time:2014-04-08

Recently, the Indonesian Banten 670-MW Thermal Power Project contracted by HEI received the Asia-Pacific Best Power Project Financing Award for 2013 by Euromoney Institutional Investor PLC. The journal Project Finance, owned by Euromoney, reported the honor.

According to Project Finance’s report, the financing capability of Genting Group, owner of the Indonesian Banten Project, has been widely recognized by international credit institutes, and the financing methods adopted by Genting Group for the Banten Project successfully started a new chapter in the financing history of Indonesian power projects. The Indonesian Banten Project became the first IPP project to use Chinese technology when it was signed into existence in Harbin on November 8, 2012. HEI has worked as the EPC contractor for this project, and Project Finance spoke highly of the capability of HEI. The journal confirmed HEI to be an expert in coal-fired technology and highly capable in erection and construction, calling it an equipment manufacturer comparable to German and Japanese companies.

Prior to the formal effectiveness of the Indonesian Banten Project contract, Genting Group and HEI carried out a tremendous amount of work. Thereafter, on the date of effectiveness of the project—November 25, 2013—project construction officially started with the successful first pot of concrete casting. At present, all work on the Banten Project has been carried out smoothly and on schedule.