PT Bajradaya Sentranusa (IFC-40507)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Specific Location
Medan, North Sumatra
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
BAJRADAYA SENTRANUSA, PT
The holder of the loan, grant, or other investment.
Sectors
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 80.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 320.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 9, 2019

Disclosed by Bank Apr 25, 2018


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Project Description

According to IFC, the project will support BDSN’s operational 180 MW Asahan-1 hydropower plant (HPP) in North Sumatra, Indonesia. The plant has been fully operational since January 2011 and sells electricity to PLN pursuant to a long-term PPA expiring on Dec 31, 2040 on a take-or-pay basis of 1,175 GWh of electricity per year. Asahan-1 is developed by the Independent Power Producer (IPP) BDSN.

The HPP located 25 km downstream of Lake Toba on the Asahan River in North Sumatra, Indonesia, is approximately 130 km southeast of the city of Medan. Construction restarted in 2006/7 and the HPP was finally commissioned in 2010. The operation and maintenance (O&M) since January 2014 has been contracted to PJB Services (PJBS), a subsidiary of PJB Asahan-1 is a run-of-river scheme developed to utilize the hydraulic head between the Regulating Dam and Siguragura Dam of the pre-existing Asahan-2 project, a three dam cascade developed between 1975-1982 to support the PT Inalum smelter, located on the North Sumatra coastline near Medan. The Asahan-2 scheme, which is not part of this project, comprises a 39 m Regulating Dam, a 47 m, 286 MW Siguragura Dam and HPP, and a 73 m, 317 MW Tangga Dam and HPP. The scheme relies on releases from Lake Toba, the largest volcanic lake in the world, as the Asahan River is the primary drainage of this lake to the Straits of Malacca. The Asahan-1 HPP comprises of a 6.5 km tunnel, 70 m surge shaft, 275 m penstock, powerhouse with two 90 MW Francis turbines, accommodation camp and switchyard (the latter handed over to PLN).

Investment Description
  • International Finance Corporation (IFC)
Private Actors

IFC stated that BDSN is an Indonesian company with Fareast Green Energy as the largest shareholder. Fareast Green Energy is a Singaporean private company develop projects in the renewable energy sector. PJB, a PLN subsidiary engaged in electricity generation, is the second largest shareholder of BDSN. PLN is Indonesia’s state-owned electric utility company and has been a key stakeholder in BDSN since its inception.

Contact Information

Project Contact: President Director of PT Bajradaya Sentranusa
Telephone No.: 62-21-7202117
Email Address: bdsn.ho@bajradaya.co.id
Office Address: Jln. Wijaya III No. 5, Kebayoran Baru, Jakarta 12160, Indonesia


ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/