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The Asian Development Bank ADB said it agreed to provide a US$40.
2 million loan
for Indonesia's first utility-scale solar project.
The loan will be used to finance Vena Energy's 42 MW solar project, including a 21 MW photovoltaic farm in Likupang, North Sulawesi, the country's first utility-scale solar power plant, and three 7 MW facilities
in Selong and Lombok, West Nusa Tenggara province.
The Asian Development Bank's private sector financing package is part of a $160 million portfolio financing designed to support renewable energy in Indonesia, completed in two phases
.
The first phase grant, totaling $120.
8 million, was signed in December 2017 and supports a 72 MW wind power project
in Jeneponto, South Sulawesi.
As part of the second phase, ADB will also include loans
from two funds it manages: the Leading Asia Private Infrastructure Fund (LEAP) and Canada's Asian Private Sector Climate Fund II (CFPS II).
All wind and solar parks supported by ADB-financed projects will supply electricity
to the state power company, Perusahaan Listrik Negara (PLN), the Asian Development Bank said.
The Asian Development Bank ADB said it agreed to provide a US$40.
2 million loan
for Indonesia's first utility-scale solar project.
The loan will be used to finance Vena Energy's 42 MW solar project, including a 21 MW photovoltaic farm in Likupang, North Sulawesi, the country's first utility-scale solar power plant, and three 7 MW facilities
in Selong and Lombok, West Nusa Tenggara province.
The Asian Development Bank's private sector financing package is part of a $160 million portfolio financing designed to support renewable energy in Indonesia, completed in two phases
.
The first phase grant, totaling $120.
8 million, was signed in December 2017 and supports a 72 MW wind power project
in Jeneponto, South Sulawesi.
As part of the second phase, ADB will also include loans
from two funds it manages: the Leading Asia Private Infrastructure Fund (LEAP) and Canada's Asian Private Sector Climate Fund II (CFPS II).
All wind and solar parks supported by ADB-financed projects will supply electricity
to the state power company, Perusahaan Listrik Negara (PLN), the Asian Development Bank said.
