MYOH Entered Renewable Energy Business, JAKARTA - PT Samindo Resources Tbk. (MYOH) expanded to enter the renewable energy business through the construction of solar power plants. The company is targeting 3 projects in Sumatra.

Kim Jung Gyun, President Director of MYOH said Samtan Group wants to build a new business in Indonesia in the power sector through Samindo Resources.

Electricity sector is meant for coal-fired steam power plant, mine mouth power plant, and solar power plant (PLTS). The reason, he revealed if the group also has the ability in the field of development of the PLTS.

"Therefore, we also participate in this PLTS tender," he said on Wednesday (26/7/2017).

Former Director of Marketing Samtan Co. Ltd., stated that the company is very interested in renewable energy, as well as with the group. Although, he added, the development of PLTS is still facing the challenge of the project economy.

However, MYOH believes that in the next 20 years, the opportunity to utilize renewable energy in Indonesia is very good and gradually the problem of project economy will decrease.

Meanwhile, Director of Marketing MYOH Lee Young Soo confirmed if the company is very interested to enter the PLTS business. Therefore, when a tender from PT PLN (Persero) some time ago, the company immediately took part.

"So we're still waiting for that. In the tender we joint with other South Korean companies. But this [partner] is not part of the group, "he said.

He revealed that of the six projects offered by PLN in the PLTS tender in Sumatra, the company is targeting three projects with total capacity below 100 megawatts (MW).

According to him, the need for funds to build PLTS of US $ 1 million per MW. However, to produce 1 MW of photovoltaic PLTS it takes approximately 1.5 hectares of land.