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June 16, 2020

China Gezhouba Group wins $1.62bn contract for Indonesian hydro plant

State-owned construction company China Gezhouba Group has signed a $1.62bn deal to construct a 1.2GW hydroelectric power plant in Indonesia.

By Matt Farmer

State-owned construction company China Gezhouba Group (CGG) has signed a $1.62bn (CNY 11.52bn) deal to construct a 1.2GW hydroelectric power plant in Indonesia.

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CGG will run the design, construction material, procurement and commissioning for the Borneo plant. Work will begin with phase one of the Data Dian plant, owned by Indonesia Dafeng Heshun Energy Industri.

When the plant is completed, CGG will trial it before handing it over within the five-year agreement’s terms.

The company is a subsidiary of China Energy Engineering Group, which is in turn owned by the Chinese state. It said it has reassured workers of precautions made to limit the spread of Covid-19.

CGG Chairman Chen Xiaohua said he expects some of the power to be used for local industries such as metal extraction and smelting.

Chinese state media announced the deal as part of the Belt and Road Initiative. This policy was established by the country to invest in the development of nearby foreign countries. Some commentators, including the prime minister of Malaysia, have warned that this is a “new version of colonialism” based on economics.

Related Companies

Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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