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Marubeni Achieves Conclusion of Project Finance Agreement

Source: www.gulfoilandgas.com 6/26/2018, Location: Asia

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Marubeni Corporation (hereinafter, “Marubeni”) is pleased to announce that PT. Supreme Energy Rantau Dedap (hereinafter, “SERD”), which is owned by Marubeni, ENGIE S.A., PT. Supreme Energy, and Tohoku Electric Power Co., Inc., signed a loan agreement for limited-recourse project financing in March 2018, and initiated construction of its geothermal power plant for the Rantau Dedap Geothermal Independent Power Project (hereinafter, “IPP”), located in the Republic of Indonesia (hereinafter, “Project”) in April 2018.

This loan agreement took the form of co-financing supported by the Japan Bank for International Cooperation, the Asian Development Bank, Mizuho Bank Ltd., Sumitomo Mitsui Banking Corporation, and MUFJ Bank., Ltd.

The loan of commercial banks in Japan uses the insurance of Nippon Export and Investment Insurance Co., Ltd. SERD will construct a 98.4MW power plant in the South Sumatra province of Indonesia, and all generated power will be dispatched to PT. PLN (Persero) (hereinafter, “PT. PLN”) under a 30-year power purchase agreement. The consortium of PT. Rekayasa Industri (as civil engineering & construction contractor) and Fuji Electric Co., Ltd (as turbine and generator supplier) were engaged in the construction of the highly efficient geothermal power plant; the two companies combined the use of high-quality Japanese equipment with extensive experience in geothermal power plant construction in Indonesia.

The Republic of Indonesia is aggressively promoting the development of renewable energy, and according to its electricity supply business plan (RUPTL), intends to increase renewable energy up to 23% of its entire generation capacity by 2025. Furthermore, with its goal to diversify its power generation sources, Indonesia is focusing on further development of its abundant geothermal resources.

Through the development of this Project, Marubeni will strive to contribute to the supply of stable electricity in Indonesia, and with its extensive experience will further expand its IPP business in the renewable energy sector.

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Related Categories: Biomass Energy  General  Geothermal Energy  Hydropower  Photovoltaic Solar Energy  Solar thermal Energy  Wind Energy 

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