Jakarta – As a significant step towards sustainable energy initiatives, PT PLN (Persero) obtained a loan of Rp 12 trillion (USD 774.3 million) from national banks to support the upcoming energy transition program that PLN plans to implement.
The PLN syndication agreement was signed with PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, PT Bank Central Asia Tbk and PT Bank Syariah Indonesia Tbk. In addition, PLN also received a bilateral loan facility from PT Sarana Multi Infrastruktur (SMI) (Persero).
PLN President Director Darmawan Prasodjo said the company is committed to accelerating the development of environmentally friendly energy with the support of all stakeholders.
“The excellent cooperation between PLN and the National Financial Institution is proof of the unity and synergy of all components in Indonesia to accelerate the energy transition. PLN currently has various strategic steps to push Indonesia towards a green country,” he said in a written statement.
The green financing facility includes conventional and sharia schemes. The syndicated loan facility consists of a conventional scheme of Rp 9 trillion (USD 580.7 million) and a sharia scheme of Rp 1 trillion (USD 64.5 million).
Meanwhile, the bilateral loan facility consists of a conventional scheme of Rp 1 trillion and a sharia scheme of Rp 1 trillion. The 10-year financing facility will fund electricity infrastructure projects and other programs that meet the eligibility criteria outlined in PLN’s green financing framework.
Sinthya Roesly, Finance Director of PLN, added that PLN needs various financing collaborations to implement energy transition projects in the future. The loan obtained is proof of the National Financial Institution’s trust in implementing PLN’s strategic program.
“Going forward, PLN still needs large investments. This cooperation is a crucial moment for PLN, and in addition to green loans, we will explore other financing schemes to support the energy transition,” she said.
In this syndication, in addition to being a creditor, Bank Mandiri is also appointed as a green loan coordinator to provide green loan facilities to support PLN’s activities in the transition to renewable energy. (Hartatik)
