Supreme Energy Rantau Dedap signs on project funding

Supreme Energy Rantau Dedap (SERD) – a joint venture between PT Supreme Energy, Marubeni Corporation, Tohoku Electric Power and ENGIE – has raised a $490 million DFI and ECA-backed loan to finance the second 90MW phase of its geothermal power project in South Sumatra Province, Indonesia.

The funding (said to have a tenor of up to 20 years) comprises a $175.3 million loan from Asian Development Bank (ADB), $188.8 million from JBIC and $125.9 million from Mizuho MUFG and SMBC under a NEXI guarantee. Clean Technology Fund (CTF) is also providing $50 million which, according to ADB which administers the fund, is a rollover amount from an existing CTF facility for the first phase of the project. The deal is backed by a 30-year offtake agreement with PLN.