JAKARTA: The World Bank gives loans amount U.S. $ 300 million to PT Pertamina Geothermal Energy (PGE) to increase geothermal power generation capacity to 150 MW in Ulubelu, and Lahendong Lampung, North Sulawesi.
World Bank Country Director for Indonesia Stefan Koeberle said the World Bank will continue to support Indonesia in meeting its energy needs in a clean and friendly environment. "This important project is the first project in East Asia Clean Technology Fund is funded mechanism," said Stefan in his official statement today.
Preparation for the geothermal project was funded by grants from the Dutch Government-managed the World Bank. The project is scheduled for completion in 2015.
Electricity in Ulubelu expected to increase 110 MW, while in Lahendong electricity will increase 40 MW. This addition will replace coal-based electricity in the same amount and help reduce pollution in local and global level, "he said.
Director of PGE Poernomo said the World Bank's support will help PGE become an international scale geothermal companies.
The details of the loan amounting to U.S. $ 300 million consisted of U.S. $ 175 million loan from the International Bank for Reconstruction and Development (World Bank subsidiary) and U.S. $ 125 million from the Clean Technology Fund.
The portion of loans from the Clean Technology Fund is a soft loan with low interest rates and the deadline for payback is longer than ordinary loans.
World Bank Senior Infrastructure Specialist Migara Jayawardena said that because the loans funded, this project can be more quickly implemented. Given this funding could also ease the burden of consumers and the government budget. (*)
World Bank Country Director for Indonesia Stefan Koeberle said the World Bank will continue to support Indonesia in meeting its energy needs in a clean and friendly environment. "This important project is the first project in East Asia Clean Technology Fund is funded mechanism," said Stefan in his official statement today.
Preparation for the geothermal project was funded by grants from the Dutch Government-managed the World Bank. The project is scheduled for completion in 2015.
Electricity in Ulubelu expected to increase 110 MW, while in Lahendong electricity will increase 40 MW. This addition will replace coal-based electricity in the same amount and help reduce pollution in local and global level, "he said.
Director of PGE Poernomo said the World Bank's support will help PGE become an international scale geothermal companies.
The details of the loan amounting to U.S. $ 300 million consisted of U.S. $ 175 million loan from the International Bank for Reconstruction and Development (World Bank subsidiary) and U.S. $ 125 million from the Clean Technology Fund.
The portion of loans from the Clean Technology Fund is a soft loan with low interest rates and the deadline for payback is longer than ordinary loans.
World Bank Senior Infrastructure Specialist Migara Jayawardena said that because the loans funded, this project can be more quickly implemented. Given this funding could also ease the burden of consumers and the government budget. (*)
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