Early Warning System

Countries

Indonesia

Geographic location 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

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Apr 11, 2018

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

PT Infrastruktur Terbarukan (IT) Adhiguna, PT IT Buana, PT IT Cemerlang, PT IT Lestari

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 40.17 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Primary Source

Original disclosure @ ADB website

Updated in EWS Jun 25, 2020

Disclosed by Bank Apr 25, 2018

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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

Here you can find a list of individual development financial institutions that finance the project.

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 Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Equis Funds Group Pte Ltd	Parent Company	-
-	-	-	-	PT Global Pasifik Terbarukan	Parent Company	-
-	-	-	-	PT Infrastruktur Terbarukan Adhiguna	Client	-
-	-	-	-	PT Infrastruktur Terbarukan Buana	Client	-
-	-	-	-	PT Infrastruktur Terbarukan Cemerlang	Client	-
-	-	-	-	PT Infrastruktur Terbarukan Lestari	Client	-
-	-	-	-	PT Infrastruktur Terbarukan Mandiri	Parent Company	-
-	-	-	-	Redaya Energi Solar, Pte. Ltd.	Parent Company	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

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