Sunter WTE (IFC-41295)

  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Jalan Sunter Baru, Kelurahan Sunter Agung, Kecamatan Tanjung Priok, Kota Administrasi Jakarta Utara
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
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."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 240.00 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)
$ 75.00 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.
Project Cost (USD)
$ 350.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 24, 2019

Disclosed by Bank Jun 19, 2019

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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.

The Sunter intermediate treatment facility (“ITF”) is a 720,000 tons annual throughput waste to energy plant with 35MW electricity output to be located in the city of Jakarta, the capital of Indonesia. The Project is expected to manage waste for the city of Jakarta under a long-term Cooperation Agreement and sell power to PLN under a long-term Power Purchase Agreement. The Project is expected to be developed by a special purpose vehicle, PT Jakarta Solusi Lestari, formed by Fortum 2 B.V. (“Fortum”) and PT Jakarta Propertindo (“JakPro”)

The project company will build, own, operate and at the end of the 25-year operational period, transfer ownership (BOT) of a 35MW Intermediate Treatment Facility (ITF) Waste to Energy (WtE) based power plant (the “project”).

The project is located at the 3-hectare Sunter site, at Jalan Sunter Baru, Kelurahan Sunter Agung, Kecamatan Tanjung Priok, Kota Administrasi Jakarta Utara. The facility, with a design capacity of 35MW and annual waste throughput of 720,000 tons, will use contemporary thermal process technology to convert municipal solid wastes (MSW) into renewable energy, with the power to be evacuated through a 2.2 km kV underground transmission-line (“T-line”) to the Kemayoran 150kV substation.

The project site was previously a municipal waste compacting transfer station which is no longer in use, and as part of the Jakarta Government’s municipal waste management masterplan, has been designated by the Government as the site to set up the proposed ITF WtE facility.

There are 116 households residing immediately outside the northern boundary of the project site. The project expects a construction-phase workforce of 900 persons and an operational-phase staff of 95 persons, with construction expected to start around the end of 2019 or Q1 2020. The proposed investment by IFC, its first project with Fortum and JakPro, will consist of a financing package of up to US$240 million. For details on the nature of IFC’s investment, please refer to the disclosed Summary of Investment Information document.

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

The total IFC financing package is expected to be up to US$240 million, of which up to US$75 million will be from IFC’s own account and up to US$30 million concessional loan would be from IFC in its capacity as Implementing Entity of the Finland-IFC Blended Finance for Climate Program and from IFC in its capacity as Implementing Entity of the Clean Technology Fund.

The remainder is expected to consist of other financing such as Managed Co-Lending Portfolio Program, B, and/or Parallel Loans.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
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 proposed investment by IFC is to support the first waste to energy (“WtE”) facility in Jakarta, Indonesia by providing a financing facility to a Joint Venture company (the “project company”) formed by Fortum 2 B.V. (“Fortum” - a subsidiary of Fortum Oyj, a Finnish energy company listed on the Helsinki Stock Exchange) and PT Jakarta Propertindo (“JakPro” – a company owned by the Jakarta City Government).

Fortum Oyj is a leading clean energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. Fortum engages its customers and society to join the change for a cleaner world. Fortum Oyj employs 9,000 professionals in the Nordic and Baltic countries, Russia, Poland, and India. In 2018, sales were EUR 5.2 billion. Fortum’s shares are listed on Nasdaq Helsinki. Please refer to Fortum Oyj’s website ( for more information.

Incorporated in 1997, JakPro, a Regional Owned Company (BUMD) of the Province of DKI Jakarta Government in the form of a private limited liability company, has business activities in property, infrastructure, and utilities.

The Project Company is expected to be 56% and 44% owned by Fortum and JakPro respectively during construction. During operations, JakPro has the option to increase its shareholding to 51%.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Fortum Oyi Parent Company -
- - - - PT Jakarta Propertindo Parent Company -
- - - - PT Jakarta Solusi Lestari Client -

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.

1/ The Project Contact

Company: Fortum Oyj / PT Jakarta Propertindo 
Contact: Ulla Rehell / R. Aditya Bakti Laksana 
Position: Vice President Sustainability / Project Director SBU ITF 
Tel No.: +358 503839426 / +62 21 29625700 ext. 230 
Address: Ulla Rehell, POB, FI-00048 Fortum, Finland

R. Aditya B. Laksana, PT Jakarta Propertindo, Gedung Thamrin City, Lantai 1, Lobby Timur, Jl. Thamrin Boulevard, Jakarta 10340, Indonesia 
Website: / 

2/ The IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

3/ Local Access for Project Documentation

PT Jakarta Propertindo

Gedung Thamrin City, Lantai 1, Lobby Timur

Jl. Thamrin Boulevard, Jakarta 10340



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