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MarketScreener Homepage  >  Equities  >  Tokyo  >  Marubeni Corp    8002   JP3877600001

MARUBENI CORP

(8002)
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Marubeni Achieves Conclusion of Project Finance Agreement

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06/26/2018 | 10:24am EDT

Marubeni Corporation (hereinafter, “Marubeni”) is pleased to announce that PT. Supreme Energy Rantau Dedap (hereinafter, “SERD”), which is owned by Marubeni, ENGIE S.A., PT.

Supreme Energy, and Tohoku Electric Power Co., Inc., signed a loan agreement for limited-recourse project financing in March 2018, and initiated construction of its geothermal power plant for the Rantau Dedap Geothermal Independent Power Project (hereinafter, “IPP”), located in the Republic of Indonesia (hereinafter, “Project”) in April 2018.

This loan agreement took the form of co-financing supported by the Japan Bank for International Cooperation, the Asian Development Bank, Mizuho Bank Ltd., Sumitomo Mitsui Banking Corporation, and MUFJ Bank., Ltd.

The loan of commercial banks in Japan uses the insurance of Nippon Export and Investment Insurance Co., Ltd.

SERD will construct a 98.4MW power plant in the South Sumatra province of Indonesia, and all generated power will be dispatched to PT. PLN (Persero) (hereinafter, “PT. PLN”) under a 30-year power purchase agreement. The consortium of PT. Rekayasa Industri (as civil engineering & construction contractor) and Fuji Electric Co., Ltd (as turbine and generator supplier) were engaged in the construction of the highly efficient geothermal power plant; the two companies combined the use of high-quality Japanese equipment with extensive experience in geothermal power plant construction in Indonesia.

The Republic of Indonesia is aggressively promoting the development of renewable energy, and according to its electricity supply business plan (RUPTL), intends to increase renewable energy up to 23% of its entire generation capacity by 2025. Furthermore, with its goal to diversify its power generation sources, Indonesia is focusing on further development of its abundant geothermal resources.

Through the development of this Project, Marubeni will strive to contribute to the supply of stable electricity in Indonesia, and with its extensive experience will further expand its IPP business in the renewable energy sector.

(c) 2018 Universal Solutions S.A.E. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
ENGIE 0.26% 13.475 Real-time Quote.7.31%
MARUBENI CORP 1.01% 793 End-of-day quote.4.70%
TOHOKU ELECTRIC POWER CO., INC. 0.21% 1450 End-of-day quote.1.40%
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Financials (JPY)
Sales 2019 8 663 B
EBIT 2019 -
Net income 2019 238 B
Debt 2019 1 902 B
Yield 2019 4,36%
P/E ratio 2019 5,70
P/E ratio 2020 5,51
EV / Sales 2019 0,38x
EV / Sales 2020 0,36x
Capitalization 1 364 B
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Mean consensus HOLD
Number of Analysts 9
Average target price 905  JPY
Spread / Average Target 15%
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Managers
NameTitle
Fumiya Kokubu President & Representative Director
Teruo Asada Chairman
Nobuhiro Yabe Representative Director & Chief Financial Officer
Hikaru Minami Representative Director
Shigeru Yamazoe Representative Director & Executive Vice President
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