ADB provides 350 mln USD loan for Indonesian geothermal plant

Mar 31,2014

MANILA, March 31 (Xinhua) — The Asian Development Bank (ADB) said Monday that it has provided a loan of 350 million U.S. dollars for the construction of a 320-megawatt geothermal power plant in North Sumatra, Indonesia.

Under the loan package for the Sarulla Geothermal Power Development Project, the Manila-based lender said 250 million U.S. dollars will come from its ordinary capital resources while 80 million U.S. dollars will come from the ADB Clean Technology Fund. The remaining 20 million U.S. dollars will be drawn from the Canadian Climate Fund for Private Sector in Asia.

The project requires a total loan package of 1.17 billion U.S. dollars. Six commercial banks will also co-finance the loan package while the ADB and the Japan Bank for International Cooperation acted as lead structuring banks.

Proponents of the project are Itochu Corp., Kyushu Electric Power Co., Ormat International, and Medco Power Indonesia.

Source: Shanghai Daily

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