ndonesian under the leadership of President Joko Widodo realizes that electric power plant sector in Indonesia has been left behind. This condition shall

get a special attention and extraordinary breakthrough. Therefore, the government has no other choice but increases the capacity of electricity of 35,000 MW. Although there was a dispute between two ministers of working cabinet, this program has already been decided in Medium Term National Development Plan 2015 – 2019. Program of 35,000 MW requires a very great investment fund of over Rp. 1,100 trillion. To keep its financial performance, State Owned Electric Company (PLN) will construct electric power plants of 10,000 MW while the rest of 25,000 MW will be offered to private parties or independent power producer /IPP. Menurut Based on CDMI’s survey that there are 74 projects offered by the government to private investors (IPP). Some 21 projects with capacity of 10,348 MW are in progress and they have passed registration period. The supply of 16 IPP projects with capacity of 4,648 MW has already been opened through direct appointment referring to Ministerial Regulation of ESDM No. 3/2015 on Procedure for Purchasing Electric Power. The supply of the rest of 37 IPP projects with capacity of 10,908 MW will be opened through auction mechanism. Until May 2016, from entire program of 35,000 MW, only some 14,436 MW projects were contracted. Some 2,815 MW projects were distributed and performed by PLN and 11,621 MW was carried out by IPP. Meanwhile, some 20,564 MW of the program has yet to be contracted. Foreign investors which mostly control

these projects come from USA, Japan and China. Based on the investigation of CDMI that there are 20 domestic companies which are in cooperation with foreign parties so that they get funds to commence their projects. Even, one of domestic companies seeks fund through capital market. Moreover, more coal companies enter into electric power plant projects. Viewing the enthusiasm of the companies above, CDMI as a leading consultant company is attracted to perform a deeper research to identify the potential of this business until 2019 and finally succeeded in publishing a research book with the title of Study on POWER PLANT of 35,000 MW in Indonesia, 2016 – 2019 & Its Major Players. This book is only available at CDMI and it can be directly ordered in our Marketing Division with Mrs. Tina by phones (021) 3193 0108, 3193 0109, 3193 0070 or Fax (021) 3193 0102 or e-mail: marketing@cdmione.com at a price of US$ 700 for Indonesian Edition and US$ 800 for English Edition. Having submitted this offer, we thank you for your cooperation and look forward to hearing your response promptly. Cordially yours, P.T. CDMI Muslim M. Amin

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| List of Contents i.

LIST OF CONTENTS .................................................................................. i

LIST OF TABLE ....................................................................................... xi

1. INTRODUCTION .............................................................................................................. 1

1.1. Background ........................................................................................ 3

2. NATIONAL MEDIUM TERM DEVELOPMENT PLAN (RPJM) 2015 –

2019 IN ELECTRICITY FIELD ................................................................................ 5

2.1. Sovereignty of Energy ........................................................................... 5

2.1.1. Target ...................................................................................... 5

2.1.2. Direction of Policy and Strategy ...................................................... 6

2.2. Raising the Availability of Energy and Electric Power ...................................... 8

3. DEVELOPMENT OF ELECTRICITY PROJECT 35,000 MW .................... 11

3.1. Controversy ...................................................................................... 12

3.2. Roadmap 35.000 MW .......................................................................... 12

3.3. Operators of Electricity Project 35,000 MW ............................................... 13

3.3.1. PLN and PLN Unit Subsidiary Company.......................................... 13

A. PLN Region and Distribution: .................................................. 13

B. PLN Services:...................................................................... 14

C. PLN Electric Power Plants: ..................................................... 14

D. PLN Distribution and Load Control Center: ................................. 14

E. PLN Unit Parent Project (UIP): ................................................ 14

3.4. Subsidiary Company ........................................................................... 15

3.4.1. PT Indonesia Power (IP) ............................................................. 15

3.4.2. PT Pembangkitan Jawa Bali (PT PJB) ............................................. 15

3.4.3. PT Pelayanan Listrik Nasional Batam (PT PLN Batam) ........................ 16

3.4.4. PT Indonesia Comnets Plus (PT ICON +) ........................................ 16

3.4.5. PT PLN Tarakan ....................................................................... 16

3.4.6. PT PLN Batubara ...................................................................... 16

3.4.7. PT PLN Geothermal .................................................................. 16

3.4.8. PT Geo Dipa Energi (PT GDE) ..................................................... 16

3.4.9. PT Prima Layanan Nasional Enjiniring (PLN-E) ................................ 17

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3.4.10.Majapahit Holding BV ................................................................ 17

3.4.11.PT Haleyora Power .................................................................... 17

3.5. Electric Power Plants Owned by PLN ...................................................... 17

3.5.1. PLTP Ulumbu .......................................................................... 17

3.5.2. PLTP Asahan Unit 3 .................................................................. 18

3.5.3. PLTP Cibuni ............................................................................ 18

3.6. IPP (Independent Power Producer) .......................................................... 18

3.7. Profile of Several Large Sized Private Electric Power Plants ........................... 22

3.7.1. PT. Paiton Energi Company ......................................................... 22

3.7.2. PT. Jawa Power ........................................................................ 23

3.7.3. PT. Central Java Power............................................................... 24

3.7.4. PT. Tanjung Jati Power Company .................................................. 25

3.7.5. PT. Sumber Segara Primadaya (SSP) .............................................. 25

3.7.6. PT. Poso Energi........................................................................ 26

3.7.7. PT. Cirebon Electric Power.......................................................... 28

3.7.8. PT. Nusantara Powerindo ............................................................ 30

3.7.9. PT. Cikarang Listrindo ............................................................... 31

3.7.10.PT. Chevron Geothermal Indonesia ................................................ 31

3.7.10.1. PLTP Darajat .............................................................. 32

3.7.10.2. PLTP Gunung Salak (Unit 4,5, & 6) ................................... 34

3.7.11.PT. Priamanaya Power Energi ...................................................... 35

3.7.12.PT. Aceh Energi Utama .............................................................. 40

3.7.13.PT. Rajawali Koresia.................................................................. 40

3.7.14.PT. Krakatau Daya Listrik ........................................................... 40

3.7.15.PT. Pertamina Geothermal Energy (PT PGE) .................................... 43

3.7.16.PT. Geo Dipa Energi .................................................................. 45

3.7.16.1. PLTP Dieng ................................................................ 45

3.7.16.2. PLTP Patuha ............................................................... 47

3.8. Profile of Geothermal Powered Electric Plant (PLTP) in Indonesia ................... 50

3.8.1. PLTP Kamojang ....................................................................... 50

3.8.2. PLTP Salak (Unit 4,5, & 6) ......................................................... 51

3.8.3. PLTP Lahendong ...................................................................... 51

3.8.4. PLTP Sibayak .......................................................................... 53

3.8.5. PLTP Kerinci (PLTP Sungai Penuh) ............................................... 56

3.8.6. PLTP Lumut Balai ..................................................................... 56

3.8.7. PLTP Hululais ......................................................................... 57

3.8.8. PLTP Kotamobagu .................................................................... 57

3.8.9. PLTP Ulubelu .......................................................................... 57

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3.8.10.PLTP Karaha Bodas ................................................................... 59

3.8.11.PLTP Iyang Argopura ................................................................ 59

3.8.12.PLTP Wayang Windu ................................................................. 60

3.8.13.PLTP Bedugul .......................................................................... 62

3.8.14.PLTP Sarula ............................................................................ 64

3.9. Projects Carried Out by PLN and IPP ...................................................... 66

3.9.1. Plan for Developing Coal Mine Mouth PLTU .................................... 70

3.10. Electric Power Development Program 2015 - 2019....................................... 75

3.10.1.Construction of Electric Power Plant in 2015 - 2019 ............................ 75

3.10.2.Government Support for Accelerating Power Plant Construction Program 35

GW ....................................................................................... 76

3.10.3.Project for Accelerating Power Plant 10,000 MW ............................... 77

3.10.4.Program for Accelerating Power Plant Construction Phase 2 .................. 79

3.10.5.Need of Power Plant Addition in Indonesia ....................................... 81

3.11. Projects Which Starts Construction .......................................................... 82

3.11.1.PLTU Cirebon.......................................................................... 83

3.11.2.PLTU Lontar Ekspansi ............................................................... 83

3.11.3.PLTU Grati Ekspansi ................................................................. 84

3.11.4.PLTU Cilacap .......................................................................... 84

3.11.5.PLTG 2X25 MW Gorontalo ......................................................... 86

3.11.6.PLTD Gas Pesanggaran .............................................................. 87

4. ELECTRICITY CONDITION UNTIL END 2015 .............................................. 88

4.1. Sales of Electric Power ........................................................................ 88

4.1.1. Total Customers ........................................................................ 89

4.1.2. Electrification Ratio ................................................................... 89

4.1.3. Ratio of Electricized Villages ........................................................ 90

4.1.4. Growth of Peak Load ................................................................. 90

4.2. Condition of Generating System.............................................................. 91

4.2.1. Sumatera Area .......................................................................... 91

4.2.2. Java – Bali Area ........................................................................ 93

4.2.3. East Indonesia Area ................................................................... 94

4.2.4. Strategy .................................................................................. 96

4.3. Condition Of Transmission System .......................................................... 97

4.3.1. Transmission System of Sumatera Area ........................................... 97

4.3.2. Transmission System of Java - Bali ................................................. 98

4.3.3. Transmission System of East Indonesia Area ..................................... 99

4.4. Condition Of Distribution System ........................................................... 100

4.4.1. Depreciation of Distribution Network ............................................. 101

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4.4.2. Reability of Supply ................................................................... 102

4.5. Construction Of Non Power Plant Infrastructure ......................................... 102

5. DEVELOPMENT PLAN BY AREAS..................................................................... 103

5.1. SUMATERA AREAS ......................................................................... 103

5.1.1. Effort of Short Term Solution ...................................................... 103

5.1.2. Effort of Medium Term Solution ................................................... 104

5.1.2.1. Power Plant ................................................................. 104

5.1.2.2. Transmission and Main Station .......................................... 105

5.1.2.3. Addition of Power Plant Capacity in Sumatera Areas ............... 106

5.1.2.4. Strategic Projects ........................................................... 107

5.1.2.5. Power Balance ............................................................. 110

5.1.3. ACEH PROVINCE................................................................... 112

5.1.3.1. Present Electricity Condition ............................................. 112

5.1.3.2. Projection of Electric Power Demand in Aceh Province ............ 114

5.1.3.3. Development of Electricity Infrastructures ............................ 115

5.1.3.4. Resume ...................................................................... 119

5.1.4. NORTH SUMATERA PROVINCE ............................................... 120

5.1.4.1. Present Condition .......................................................... 120

5.1.4.2. Projection of Electric Power Need ...................................... 123

5.1.4.3. Development of Electricity Infrastructure ............................. 123

5.1.4.4. Isolated System Nias ...................................................... 130

5.1.4.5. Resume ...................................................................... 131

5.1.5. RIAU PROVINCE ................................................................... 131

5.1.5.1. Present Condition .......................................................... 131

5.1.5.2. Projection of Electric Power Need ...................................... 133

5.1.5.3. Development of Electricity Infrastructure ............................. 133

5.1.5.4. Electricity System of Rupat Island ...................................... 138

5.1.5.5. Resume ...................................................................... 138

5.1.6. RIAU ISLANDS PROVINCE (without BATAM) .............................. 139

5.1.6.1. Present Condition .......................................................... 139

5.1.6.2. Projection of Electric Power Need ...................................... 140

5.1.6.3. Development of Electricity Infrastructure ............................. 140

5.1.6.4. Electricity System of Natuna ............................................. 142

5.1.6.5. Resume ...................................................................... 143

5.1.7. BANGKA BELITUNG ISLANDS PROVINCE ................................ 143

5.1.7.1. Present Condition .......................................................... 143

5.1.7.2. Projection of Electric Power Need ...................................... 145

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5.1.7.3. Development of Electricity Infrastructure ............................. 145

5.1.7.4. Resume ...................................................................... 148

5.1.8. WEST SUMATERA PROVINCE ................................................. 148

5.1.8.1. Present Condition .......................................................... 148

5.1.8.2. Projection of Electric Power Need ...................................... 150

5.1.8.3. Development of Electricity Infrastructure ............................. 151

5.1.8.4. Resume ...................................................................... 156

5.1.9. JAMBI PROVINCE .................................................................. 157

5.1.9.1. Present Condition .......................................................... 157

5.1.9.2. Projection of Electric Power Need ..................................... 158

5.1.9.3. Development of Electricity Infrastructure ............................. 158

5.1.9.4. Isolated System ............................................................. 161

5.1.9.5. Resume ...................................................................... 162

5.1.10.SOUTH SUMATERA PROVINCE ............................................... 162

5.1.10.1.Present Electricity Condition ............................................ 162

5.1.10.2.Projection of Electric Power Need in South Sumatra ............... 164

5.1.10.3.Development of Electricity Infrastructure ............................. 165

5.1.10.4.Resume ...................................................................... 170

5.1.11.BENGKULU PROVINCE .......................................................... 170

5.1.11.1.Present Electricity Condition ............................................ 170

5.1.11.2.Projection of Electric Power Need in Bengkulu Province .......... 171

5.1.11.3.Development of Electricity Infrastructure ............................. 172

5.1.11.4.Resume ...................................................................... 174

5.1.12.LAMPUNG PROVINCE ............................................................ 174

5.1.12.1.Present Condition.......................................................... 174

5.1.12.2.Projection of Electric Power Need ..................................... 176

5.1.12.3.Development of Electricity Infrastructure ............................. 176

5.1.12.4.Resume ...................................................................... 180

5.2. JAVA - BALI AREAS ........................................................................ 181

5.2.1. Effort of Short Term Solution ...................................................... 181

5.2.2. Effort of Medium Term Solution in Java – Bali System ....................... 182

5.2.3. Power Plant ............................................................................ 182

5.2.4. Transmission and Main Station ..................................................... 183

5.2.5.1. Addition of Power Plants of Java – Bali System ..................... 184

5.2.5.2. Regional Balance of Java – Bali System ............................... 185

5.2.5.3. Power Balance of Java – Bali System .................................. 186

5.2.6. JAKARTA CAPITAL CITY AREA .............................................. 192

5.2.6.1. Present Condition .......................................................... 192

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5.2.6.2. Projection of Electric Power Need ...................................... 193

5.2.6.3. Development of Electricity Infrastructure ............................. 194

5.2.6.4. Distribution System to Thousand Islands .............................. 201

5.2.6.5. Resume ...................................................................... 202

5.2.7. PROVINSI BANTEN ................................................................ 203

5.2.7.1. Present Condition .......................................................... 203

5.2.7.2. Projection of Electric Power Need ...................................... 204

5.2.7.3. Development of Electricity Infrastructure ............................. 204

5.2.7.4. Resume ...................................................................... 210

5.2.8. WEST JAVA .......................................................................... 210

5.2.8.1. Present Condition .......................................................... 210

5.2.8.2. Projection of Electric Power Need ...................................... 212

5.2.8.3. Development of Electricity Infrastructure ............................. 212

5.2.8.4. Resume ...................................................................... 223

5.2.9. PROVINSI CENTRAL JAVA...................................................... 224

5.2.9.1. Present Condition .......................................................... 224

5.2.9.2. Projection of Electric Power Need ...................................... 225

5.2.9.3. Development of Electricity Infrastructure ............................. 226

5.2.9.4. Resume ...................................................................... 232

5.2.10.YOGYAKARTA CAPITAL CITY PROVINCE (DIY) ........................ 232

5.2.10.1.Present Condition.......................................................... 232

5.2.10.2.Projection of Electric Power Need ..................................... 233

5.2.10.3.Development of Electricity Infrastructure ............................. 233

5.2.10.4.Resume ...................................................................... 235

5.2.11.PROVINSI EAST JAVA ............................................................ 236

5.2.11.1.Present Condition.......................................................... 236

5.2.11.2.Projection of Electric Power Need ..................................... 237

5.2.11.3.Development of Electricity Infrastructure ............................. 238

5.2.11.4.Resume ...................................................................... 245

5.2.12.BALI PROVINCE .................................................................... 245

5.2.12.1.Present Condition.......................................................... 245

5.2.12.2.Projection of Electric Power Need ..................................... 246

5.2.12.3.Development of Electricity Infrastructure ............................. 246

5.2.12.4.Resume ...................................................................... 250

5.2.13.Power Balance of Lombok System................................................. 250

5.3. EAST INDONESIAN AREAS .............................................................. 252

5.3.1. Effort of Medium Term Solution in East Indonesian Areas ................... 252

5.3.1.1. Generating ................................................................... 252

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5.3.1.2. Transmission and Main Stations ......................................... 252

5.3.1.3. Addition of Power Plant Capacity in East Indonesian Areas ....... 255

5.3.1.4. Strategic Projects in East Indonesian Areas ........................... 257

5.3.1.5. Inauguration of 8 Electric Power Infrastructure Projects Based on

Renewed Energy in East Areas .......................................... 257

5.3.1.6. Power Balance of Kalseltengtimra System ............................ 259

5.3.2. WEST KALIMANTAN PROVINCE ............................................. 260

5.3.2.1. Present Electricity Condition ............................................. 260

5.3.2.2. Projection of Electric Power Need ...................................... 262

5.3.2.3. Development of Electricity Infrastructure ............................. 262

5.3.2.4. Electrification of Inter Country Bordering Areas ..................... 267

5.3.2.5. Resume ...................................................................... 267

5.3.3. SOUTH KALIMANTAN PROVINCE ........................................... 268

5.3.3.1. Present Electricity Condition ............................................. 268

5.3.3.2. Projection of Electric Power Need ...................................... 271

5.3.3.3. Development of Electricity Infrastructure ............................. 272

5.3.3.4. Isolated Electricity System ............................................... 276

5.3.3.5. Resume ...................................................................... 276

5.3.4. CENTRAL KALIMANTAN PROVINCE ....................................... 277

5.3.4.1. Present Condition .......................................................... 277

5.3.4.2. Projection of Electric Power Need ...................................... 278

5.3.4.3. Development of Electricity Infrastructure ............................. 278

5.3.4.4. Isolated Systems ............................................................ 282

5.3.4.5. Resume ...................................................................... 283

5.3.5. EAST KALIMANTAN PROVINCE .............................................. 283

5.3.5.1. Present Electricity Condition ............................................. 283

5.3.5.2. Projection of Electric Power Need in East Kalimantan .............. 284

5.3.5.3. Development of Electricity Infrastructure ............................. 285

5.3.5.4. Electricity Isolated System ............................................... 289

5.3.5.5. Resume ...................................................................... 290

5.3.6. NORTH KALIMANTAN PROVINCE ........................................... 290

5.3.6.1. Present Electricity Condition ............................................. 290

5.3.6.2. Projection of Electric Power Need in North Kalimantan ............ 291

5.3.6.3. Development of Electricity Infrastructure ............................. 292

5.3.6.4. Electricity System North Kalimantan and Isolated System .......... 295

5.3.6.5. Resume ...................................................................... 295

5.3.7. NORTH SULAWESI PROVINCE ................................................ 296

5.3.7.1. Power Balance of North Part of Sulawesi System (Sulbagut) ...... 296

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5.3.7.2. Electricity Condition of North Sulawesi ............................... 297

5.3.7.3. Projection of Electric Power Need ...................................... 298

5.3.7.4. Development of Electricity Infrastructure ............................. 299

5.3.7.5. Electricity System of Archipelago....................................... 304

5.3.7.6. Resume ...................................................................... 304

5.3.8. CENTRAL SULAWESI PROVINCE ............................................. 304

5.3.8.1. Present Electricity Condition ............................................. 304

5.3.8.2. Projection of Electric Power Need in Central Sulawesi ............. 306

5.3.8.3. Development of Electricity Infrastructure ............................. 307

5.3.8.4. Resume ...................................................................... 311

5.3.9. GORONTALO PROVINCE ........................................................ 311

5.3.9.1. PLTG Gorontalo Experience Trial (4X25 MW) ...................... 311

5.3.9.2. Present Electricity Condition ............................................. 312

5.3.9.3. Projection of Electric Power Need di Gorontalo ..................... 313

5.3.9.4. Development of Electricity Infrastructure ............................. 313

5.3.9.5. Resume ...................................................................... 316

5.3.10.SOUTH SULAWESI PROVINCE ................................................. 316

5.3.10.1.Power Balance of South Part of Sulawesi ............................. 316

5.3.10.2.Present Electricity Condition ............................................ 318

5.3.10.3.Projection of Electric Power Need in South Sulawesi .............. 320

5.3.10.4.Development of Electricity Infrastructure ............................. 321

5.3.10.5.Resume ...................................................................... 325

5.3.11.SOUTHEAST SULAWESI PROVINCE ......................................... 325

5.3.11.1.Present Electricity Condition ............................................ 325

5.3.11.2.Projection of Electric Power Need in Southeast Sulawesi .......... 326

5.3.11.3.Development of Electricity Infrastructure ............................. 327

5.3.11.4.Resume ...................................................................... 331

5.3.12.WEST SULAWESI PROVINCE................................................... 331

5.3.12.1.Present Electricity Condition ............................................ 331

5.3.12.2.Projection of Electric Power Need in West Sulawesi ............... 332

5.3.12.3.Development of Electricity Infrastructure ............................. 333

5.3.12.4.Resume ...................................................................... 335

5.3.13.MALUKU PROVINCE.............................................................. 336

5.3.13.1.Present Condition.......................................................... 336

5.3.13.2.Projection of Electric Power Need ..................................... 337

5.3.13.3.Development of Electricity Infrastructure ............................. 338

5.3.13.4.Resume ...................................................................... 342

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5.3.14.NORTH MALUKU PROVINCE .................................................. 342

5.3.14.1.Present Condition.......................................................... 342

5.3.14.2.Projection of Electric Power Need ..................................... 343

5.3.14.3.Development of Electricity Infrastructure ............................. 344

5.3.14.4.Developer of Electrical Systems Related Industrial Ferronickel .. 347

5.3.14.5.Resume ...................................................................... 348

5.3.15.PROVINSI PAPUA .................................................................. 348

5.3.15.1.Present Electricity Condition ............................................ 348

5.3.15.2.Projection of Electric Power Need ..................................... 349

5.3.15.3.Electrical Systems in the Border Region Papua - PNG ............. 353

5.3.15.4.Resume ...................................................................... 353

5.3.16.WEST PAPUA PROVINCE ........................................................ 354

5.3.16.1.Present Electricity Condition ............................................ 354

5.3.16.2.Projection of Electric Power Need ..................................... 354

5.3.16.3.Development of Electricity Infrastructure ............................. 355

5.3.16.4.Electrical System of Sorong ............................................. 358

5.3.16.5. Resume ..................................................................... 358

5.3.17.WEST NUSA TENGGARA PROVINCE ........................................ 359

5.3.17.1.Present Condition.......................................................... 359

5.3.17.2.Projection of Electric Power Need ..................................... 360

5.3.17.3.Development of Electricity Infrastructure ............................. 361

5.3.17.4.Resume ...................................................................... 365

5.3.18.EAST NUSA TENGGARA PROVINCE ......................................... 365

5.3.18.1.Present Condition.......................................................... 365

5.3.18.2.Projection of Electric Power Need ..................................... 367

5.3.18.3.Development of Electricity Infrastructure ............................. 368

5.3.18.4.Expansion of Other PLTS and EBT .................................... 372

5.3.18.5.Resume ...................................................................... 372

6. DEVELOPMENT OF NEW AND RENEWED (EBT) ENERGY AND

PRIMARY ENERGY AVAILABILITY ................................................................ 374

6.1. Development of EBT .......................................................................... 374

6.1.1. Geothermal ............................................................................. 375

6.1.2. Hydro Power .......................................................................... 375

6.1.3. PLTM/MH ............................................................................. 378

6.1.4. PLTS .................................................................................... 378

6.1.5. Biomass ................................................................................. 379

6.1.6. PLT Bayu / Wind Power Plant ..................................................... 379

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6.1.7. Marine Energy ........................................................................ 380

6.1.8. Coal Bed Methane (CBM) ........................................................... 380

6.1.9. Coal Slurry ............................................................................. 380

6.1.10.Nuclear ................................................................................. 380

6.2. Availability of Primary Energy .............................................................. 381

6.2.1. Coal ..................................................................................... 381

6.2.2. Natural Gas ............................................................................ 382

6.2.2.1. Muara Karang and Priok.................................................. 384

6.2.2.2. Muara Tawar ............................................................... 384

6.2.2.3. Tambak Lorok .............................................................. 384

6.2.3. LNG and Mini-LNG ................................................................. 386

6.2.4. CNG (Compressed Natural Gas) ................................................... 388

6.3. Development of Rural Electricity and Electricized Villages ............................ 389

6.3.1. Rural Electricity ....................................................................... 389

6.3.2. Electricized Villages .................................................................. 390

6.4. Development of Spreading Small System (Until 10 MW) .............................. 390

7. FUND REQUIREMENT ............................................................................................. 391

7.1. Projection of Indonesian Investment Need................................................. 391

7.2. Projection of Sumatera Investment Need .................................................. 392

7.3. Projection of Java - Bali Investment Need ................................................. 393

7.4. Projection of Investment Need of East Indonesian Areas ............................... 394

7.5. Electricity Investment Need of PLN and IPP ............................................. 395

7.6. Fund Source and Financial Capacity of PLN ............................................. 395

7.6.1. Investment Plan and Financial Source ............................................. 395

7.6.1.1. Self Financial Capacity (APLN) ......................................... 396

7.6.1.2. Composition of Financial Source for Investment ..................... 396

7.7. Financial Capacity of Corporate for Investment .......................................... 397

7.7.1. Company Financial Leverage ....................................................... 397

7.7.2. Improvement of Company Capital Structure ..................................... 399

7.7.3. Development of Cooperation Business Model of PLN and Non IPP Third

Party .................................................................................... 399

8. GOVERNMENT REGULATION (SUMMARY) ................................................. 400

9. C O N C L U S I O N ..................................................................................................... 401