Wahyu Dwi Anggoro
IDXChannel - The Asian Development Bank (ADB) has signed a financing agreement with PT Supreme Energy Muara Laboh (SEML) to develop Indonesia’s geothermal power resources.
This will be done through the expansion of a geothermal facility at Muara Laboh in West Sumatera, while supporting the construction, operation, and maintenance of a new geothermal power plant with an approximate capacity of 83 megawatts (MW).
ADB’s total arranged finance package of around USD92 million comprises of a USD38 million from the bank’s ordinary capital resources, a USD38 million syndicated ADB B loan from Sumitomo Mitsui Banking Corporation with ADB acting as the lender on record, and a USD15 million concessional loan from the Australian Climate Finance Partnership (ACFP).
ADB is the lead structuring bank on the transaction, mobilizing private commercial capital with uncovered project risk for the first time in Indonesia’s greenfield geothermal Independent Power Producer sector.
ADB is joined by parallel lenders including the Japan Bank for International Cooperation and a set of commercial banks under guarantee from Nippon Export and Investment Insurance.
