On 21 March 2013, Project Finance Magazine selected the Wampu project as the 2012 Asia Pacific Hydro Deal.
Wampu is a $174 million 45 MW hydroelectric power plant on the Wampu River in North Sumatra that has entered into a 30 year Power Purchase Agreement (PPA) with Indonesia’s state-owned electricity company, PT Perusahaan Listrik Negara.
The project will be developed by PT Wampu Electric Power, which is a consortium of KOMIPO, POSCO Engineering and PT Mega Power Mandiri, an Indonesian private power generation company, with loans provided by Korea Eximbank and POSCO Engineering acting as the EPC contractor.
Wampu is a independent power producer (IPP) under the Second 10,000 MW Fast Track Program. And benefits from the Ministry of Finance Business Viability Guarantee Letter (BVGL) pursuant to Minister of Finance Regulation No. 139/PMK.011/2011 on PLN’s Business Viability.
Lubis Ganie Surowidjojo represented the Indonesian Ministry of Finance.