REPUBLIKA.CO.ID, JAKARTA -- The national power corporation PT Perusahaan Listrik Negara (PLN) would take over the construction of a 2,000 megawatt coal fired power plant in Banten.

PLN would build the power plant itself after the cancellation of tender for the mega project PLTU Jawa 5 in Serang, Banten, a PLN director Supangkat Iwan Santoso said here on Tuesday.

The project, however, would still be built under the independent power producer (IPP) scheme by a subsidiary of PLN and a private company partner, Supangkat said.

PLN President Director Sofyan Basir said PLN has financial capacity to build the project estimated to cost Rp40 trillion.

"Fund is not a problem. We have fund," Sofyan said.

Based on re-evaluation, PLN has assets worth Rp850 trillion, therefore, the company could raise up to Rp2,000 trillion in loan or three times of the assets.

"We have very big capacity , therefore, there should be no problem if we have to build the project ourselves," Sofyan said.

PLN has revoked the IPP tender for the power project as PLN found irregularities in the process of tender.

The tender was participated in by six bidders with three submitting offer, but only two consortium were declared qualified.

One of the two was a consortium of China Oceanwide Holding, PT Pembangkitan Jawa Bali (PJB), and Shanghai Electric Power Corporation (SEPC).

The other was the consortium of PT Sumber Segara Primadaya (SSP), China Nuclear Engineering Group Corporation Ltd (CNEC), and PT Wijaya Karya (Persero) Tbk.

The consortium of Oceanwide offered a power price at 4.5 U.S. cents per kilo-Watt hour (kWh), and the consortium of SSP at US$5.4 cents per kWh.

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