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View all search results$600m in ADB loans to help PLN expand networks, upgrade operations
The Asian Development Bank (ADB) has given US$600 million in loans to state-owned electricity firm PLN.
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Steam evaporates at the Supreme Energy Muara Laboh Geothermal Power project site in Muara Laboh, West Sumatra, on Nov. 20, 2017. (ADB/ADB)
The Asian Development Bank (ADB) has given state-owned electricity monopoly PLN US$600 million in results-based loans.
In a statement published on Monday, the ADB said the funds, with a sovereign guarantee from the government, were aimed at improving PLN’s transmission lines, power grid automation and hazardous waste storage facilities.
Read also: ADB pledges to double funds for Indonesia, pushes for green recovery
The loans are expected to enhance access to sustainable and reliable energy in western and central parts of Java, said ADB senior finance specialist Daniel Miller.
“[The program] will accelerate Java’s economic recovery and help transform its poorer areas into growth engines through agro-industries, tourism and micro and small enterprises,” Miller said in the statement.
A capable power grid is critical to meeting Java’s electricity demand and carrying out the transition to a low-carbon economy, as power grids need to have the ability to integrate more renewables.
Java, which hosts 41 percent of Indonesia’s population, is estimated to require an electricity generating capacity of 259 terawatt-hours by 2030, or 66.4 percent of the country’s demand, according to the ADB.
