http://www.thejakartapost.com/news/2009/10/15/pln-secures-loans-marches-with-first-phase.html
State utility company PT PLN has almost secured all of the financing required for its first massive 10,000 megawatt power-generation program aimed at helping prevent blackouts across the country amid increasing demands for electricity.
PLN signed three long-term loan facility agreements worth a total US$1.09 billion with two consortia of creditors, to finance power plants in Central Java, West Sumatra, North Sumatra and Lampung, PLN said in a statement on Wednesday.
A consortium comprising the China Development Bank (CDB) and Industrial and Commercial Bank of China (ICBC) lent $625 million to finance a 1x660 MW plant in Central Java and $138 million for a 2x112 MW plant in West Sumatra.
The other loan, worth a total of $329 million, was provided by Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia, and was for the financing of plants in Lampung (2x100 MW) and North Sumatra (2x200 MW).
The agreements mean PLN has now secured 90.7 percent in dollar-denominated and 98.2 percent in rupiah-denominated funding requirements to carry out its first 10,000 MW program, PLN president director Fahmi Mochtar said.
Under the program, more than 30 new power plants are planned - 10 of them in Java with a combined total output of 4,337 MW, and the rest outside the main Java-Bali system generating a total 5,626 MW.
The nine large power plants that have received full financing are Paiton (1x660 MW), Suralaya (1x625 MW), Labuan (2x315 MW), Indramayu (3x300 MW), Rembang (2x315 MW), Pelabuhan Ratu (3x350 MW), Teluk Naga (3x315 MW), Pacitan (2x315 MW) and Adipala (1x660 MW), Fahmi said.
PLN is also rolling out its second 10,000 MW program, under which up to 83 power plants will be tendered out, including 65 outside Java.
While the first 10,000 MW program relies entirely on coal-fired plants, the second program will see 12 percent of its power sourced from hydroelectric, 48 percent from geothermal, 14 percent from natural gas, and the remainder from coal-fired power plants.
"We are committed to continuing our support for the development of electricity infrastructure to meet the needs of many areas in Indonesia," Mandiri vice president director I Wayan Agus Mertayasa said. (*)
State utility company PT PLN has almost secured all of the financing required for its first massive 10,000 megawatt power-generation program aimed at helping prevent blackouts across the country amid increasing demands for electricity.
PLN signed three long-term loan facility agreements worth a total US$1.09 billion with two consortia of creditors, to finance power plants in Central Java, West Sumatra, North Sumatra and Lampung, PLN said in a statement on Wednesday.
A consortium comprising the China Development Bank (CDB) and Industrial and Commercial Bank of China (ICBC) lent $625 million to finance a 1x660 MW plant in Central Java and $138 million for a 2x112 MW plant in West Sumatra.
The other loan, worth a total of $329 million, was provided by Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia, and was for the financing of plants in Lampung (2x100 MW) and North Sumatra (2x200 MW).
The agreements mean PLN has now secured 90.7 percent in dollar-denominated and 98.2 percent in rupiah-denominated funding requirements to carry out its first 10,000 MW program, PLN president director Fahmi Mochtar said.
Under the program, more than 30 new power plants are planned - 10 of them in Java with a combined total output of 4,337 MW, and the rest outside the main Java-Bali system generating a total 5,626 MW.
The nine large power plants that have received full financing are Paiton (1x660 MW), Suralaya (1x625 MW), Labuan (2x315 MW), Indramayu (3x300 MW), Rembang (2x315 MW), Pelabuhan Ratu (3x350 MW), Teluk Naga (3x315 MW), Pacitan (2x315 MW) and Adipala (1x660 MW), Fahmi said.
PLN is also rolling out its second 10,000 MW program, under which up to 83 power plants will be tendered out, including 65 outside Java.
While the first 10,000 MW program relies entirely on coal-fired plants, the second program will see 12 percent of its power sourced from hydroelectric, 48 percent from geothermal, 14 percent from natural gas, and the remainder from coal-fired power plants.
"We are committed to continuing our support for the development of electricity infrastructure to meet the needs of many areas in Indonesia," Mandiri vice president director I Wayan Agus Mertayasa said. (*)
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