China Eximbank provides $240.9 million preferential buyer's credit for 200MW Takalar Steam Coal Power Plant Construction Project

On December 22, 2014, China Eximbank and the Government of Indonesia signed a $240,983,647 preferential buyer’s credit (PBC) agreement [CHINA EXIMBANK PBC No. (2014) 35 Total No.(329)] for the 200MW Takalar Steam Coal Power Plant Construction Project. The PBC carried the following borrowing terms: a 3% interest rate, a 15-year grace maturity, and a 5 year grace period. Then, on March 5, 2015, the Government of Indonesia signed a $240,983,647 subsidiary loan agreement [SLA-1260/DSMI/2015] with Perusahaan Listrik Negara (PLN) — an Indonesian state electricity distribution company — for the same project. The proceeds of the loan were to be used by PLN to partially finance an EPC contract with China Gezhouba Group Corporation (CGGC). The purpose of the project was to construct a power plant — with two 100MW power generation units — in Punagaya village within Bangkala District, Jeneponto Regency, South Sulawesi Province (locational coordinates: -5.6236347, 119.550822). CGGC was the EPC contractor responsible for project implementation. Construction commenced on May 4, 2015. The first power generation unit was put into commercial operation on December 19, 2017 and commissioned on December 28, 2017. The second power generation unit was put into commercial operation on February 14, 2018 and commissioned during the same month. Then, on July 2, 2018, a project completion ceremony was held.

Additional details

1. The project is also known as the 2x100MW Takalar Steam Coal Power Plant Construction Project or Punagaya FTP2. The Indonesia project title is Proyek Takalar. The Chinese project title is 塔卡拉燃煤电站项目.

Number of official sources

14

Number of total sources

19