PLN nears close on MIGA-backed green loan

By Max Thompson

In:

Manufacturing, Traditional energy

Region:

Asia-Pacific

Indonesia’s state-owned electricity utility PLN is nearing financial close on a $1 billion MIGA-backed green loan. Proceeds will be used by PLN to make payments under existing PPAs to IPPs that are currently operational, including geothermal and hydropower plants.

Consistent with World Bank operational guidance and MIGA’s exclusion list, eligible IPPs do not include coal-fired or nuclear power stations. The medium/long-term (MLT) financing will be provided by Standard Chartered; KfW-IPEX Bank; LBBW; and JP Morgan.

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