PT Jawa Satu Power, a special purpose company sponsored by Marubeni Corporation, PT Pertamina (Persero) and Sojitz Corporation, entered into a long-term power purchase greement with PT PLN (Persero) for the sale of electricity for 25 years in respect of a project to construct, own and operate a 1,760 MW gas-fired power plant and floating storage and regasification unit for electricity sales to PLN. PLN announced that the Marubeni, Pertamina and Sojitz consortium was the winning bidder. Marubeni, Pertamina and Sojitz will proceed with the development of the Project by procuring financing, constructing the power plant, FSRU and associated facilities, and sell electricity to PLN for a 25 year term from its target completion date of 2021.