PLN Bags US$380 Mln Loan to Build Upper Cisokan Hydropower

By Editorial Team 16/03/2022
Energi baru terbarukan
Summary

PT PLN obtained US$380 million in loan to finance the construction of 1,040 MW Upper Cisokan Hydroelectric Power Plant (PLTA) on the Bandung-Cianjur border, West Java. The International Bank for Reconstruction and Development (IBRD), a part of the World Bank Group, provides the loan through a subsidiary loan agreement (SLA) scheme. Director-General of Treasury Hadiyanto said this scheme was the first for PLN in the last six years.

In addition, the Upper Cisokan hydropower project obtained a loan from the Asian Infrastructure Investment Bank (AIIB) worth US$230 million in co-financing with the World Bank under the same scheme. "We really support this financing because the goal is to finance the construction of Upper Cisokan hydropower electricity infrastructure based on new and renewable energy from hydropower, which is more sustainable, affordable, and of course sufficient to supply electricity for the community," Hadiyanto said Tuesday.

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