Eastern Indonesia Renewable Energy Project (Phase 2) (ADB-51209-002)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Specific Location
Likupang (North Sulawesi) Pringgabaya, Selong, and Sengkol (Lombok, West Nusa Tenggara)
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
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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.
Voting Date
Apr 11, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PT Infrastruktur Terbarukan (IT) Adhiguna, PT IT Buana, PT IT Cemerlang, PT IT Lestari
The holder of the loan, grant, or other investment.
Sectors
  • Energy
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)
$ 40.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 40.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Corporate Actor Documents
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 27, 2019

Disclosed by Bank Apr 25, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

Phase 2 of the project will construct, operate and maintain a 21 MW solar power plant in Likupang (North Sulawesi) and three 7 MW solar power plants, in Pringgabaya, Selong, and Sengkol (Lombok, West Nusa Tenggara). 

The Government of Indonesia has set ambitious targets to increase the share of energy supplied from renewable energy from 12% in 2013 to 23% in 2025. Therefore, the Ministry of Energy and Mineral plans to increase the capacity of grid power generation through new and renewable energy to 45 GW by 2025. The Project contributes to the acceleration and expansion of private sector investments in clean energy infrastructure in Indonesia

Investment Description
  • Asian Development Bank (ADB)

Canadian Climate Fund for the Private Sector in Asia II (CFPS II) US$ 21.90 million

Leading Asia's Private Infrastructure Fund (LEAP) US$ 5.78 million

Ordinary capital resources US$ 12.49 million

Private Actors

The Project supports a leading private sector player (Equis Group) in its contributions towards this goal. The concessional financing from the Canadian Climate Fund for the Private Sector in Asia II (CFPS II) was needed to assist with implementation of the first utility-scale solar power projects in Indonesia and to help the project sponsors to address its first mover costs and disadvantages as well as overcome various technical and regulatory challenges.

Contact Information

Project Sponsor(s)

Equis Group
PT Global Pasifik Terbarukan
PT Infrastruktur Terbarukan Mandiri
Redaya Energi Solar, Pte. Ltd

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main