World Bank disburses $300 million loan to Pertamina Geothermal
Lahendong Unit 2 plant Sulawesi, Indonesia (source: aecom.com)
Alexander Richter
22 Jun 2012
The World Bank has disbursed a loan of $300 million to Pertamina Geothermal Energy for the development of its Ulubelu 3 and 4, and the Lahendong 5 and 6 plants in Indonesia.
Reported earlier this week, the World Bank has disbursed a loan of $300 million to Pertamina Geothermal Energy (PGE) for its geothermal development program in Indonesia.
The company intends to use those funds for its 2,000 MW of geothermal power capacity development.
“PGE president director Slamet Riyadhi specified that the US$300 million would be used to build geothermal power plant (PLTP) Ulubelu 3 and 4 worth US$175 million, and PLTP Lahendong 5 and 6 worth US$125 million. “The Ulubelu plant will have the capacity to generate 2 x 25 megawatts while Lahendong, 2 x 20 megawatts,” said the director during document the hand-over ceremony with the World Bank on Monday.
The World Bank, according to Slamet, has provided a 30-year tenure for the loan in addition to a 10-year grace period. The loan is also considered a soft loan because the interest rate is below 3 percent per year, lower than commercial banks.”
Source: tempoInteractive
