PLN has again received syndicated financing totaling Rp 7,917 trillion to secure funding to continue the 35,000 MW electricity infrastructure development. This is marked by the signing of the Investment Financing Agreement with the Government Guarantee for the construction of the Steam Power Plant (PLTU) and Gas Engine Power Plant (PLTMG) with a total ceiling of Rp 7.91 trillion in a period of 10 (ten) years and using 2 (two) schemes, namely conventional schemes of IDR 5.07 trillion and sharia schemes of IDR 2.84 trillion.
The event which was held at the PLN Headquarters, Jakarta on Wednesday (12/18/2019) was opened by PLN Finance Director Sarwono Sudarto. Financing with the Sharia scheme is the first time the Sharia scheme has been guaranteed by the Government of the Republic of Indonesia.
This is clear evidence of the role of PLN and a form of enormous support from Islamic Banking and the Government of the Republic of Indonesia through the Ministry of Finance to support the completion of the 35,000 MW Program as well as the development of Islamic finance in Indonesia.
The financing with the sharia scheme was obtained from the syndication of PT Bank Mandiri Syariah (BSM) which acts as a syndication agent, PT Bank BNI Syariah (BNIS), PT Bank BRI Syariah (BRIS) and PT Bank Permata – Sharia Business Unit (Bank Permata UUS), while loans with a conventional scheme were obtained from a syndicate of PT Bank Negara Indonesia Tbk (BNI), which acts as a syndication agent, PT Bank Rakyat Indonesia Tbk (BRI) and PT Bank Mandiri Tbk (Bank Mandiri).
“We say many thanks to all banks involved in the syndication today in providing Investment Funding for PLN, all for building electricity infrastructure in remote areas so as to increase the Electrification Ratio and improve the welfare of the community, we hope this collaboration will continue better, “Said Sarwono.
With the government guarantee scheme, it will encourage the acceleration of electricity infrastructure development while reducing the cost of fund loans (because the risk of financing from banks is lower), increasing the Rupiah portfolio of PLN loans, and increasing the ability of national banks to fund infrastructure development (because of this financing does not count in the LLL (Maximum Lending Limit).
Funding obtained using the conventional scheme will be used to fund the construction of 1 (one) PLTU project and 10 (ten) PLTMG projects, including the South Sulawesi-Barru PLTU (100MW), the Kupang Peaker PLTMG (40MW), the Nias PLTMG (25MW), the PLTMG Luwuk (40MW), Nunukan PLTMG (10MW), Waingapu PLTMG (10MW), Alor PLTMG (10MW), Namlea PLTMG (10MW), Dobo PLTMG (10MW), Saumlaki PLTMG (10MW), and Serui PLTMG (10MW), Serui PLTMG (10MW), Sero PLTMG (10MW), and Serui PLTMG (10MW), and Serui PLTMG (10MW).
Funding under the sharia scheme will be used to fund the construction of 1 (one) PLTU project and 3 (three) PLTMG projects, which consist of the Lombok FTP PLTU (100MW), Sumbagut 2 Peaker (250MW) PLTMG, Bangkanai 2 PLTMG (140MW) and PLTMG Lombok Peaker (130-150MW).
This PLTU and PLTMG development project is a series of supporting the development of the 35,000 MW program launched by the government, which is not only aimed at increasing the availability of electricity to 3T areas (frontier, outermost, and lagging), but also so that there is electricity infrastructure capable of generating electricity at an affordable price for the community and competitive for industry and business, to support national economic growth.
Source: cnbcindonesia.com
