Project ID: 39373

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

Commitment amount

$ 232248278.3

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Indonesia

Sector

Energy (Code: 230)

Flow type

Export Buyer's Credit

Concessional

Yes

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2014

Implementation

2015

2015-05-04

Actual start

Completion

2018

2018-07-02

Actual

Geography

Description

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: 3% interest rate, 15-year grace maturity, and 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). 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

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 unofficial sources

5

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Indonesia [Government Agency]; Perusahaan Listrik Negara (PLN) [State-owned Company]

Implementing agencies [Type]

China Gezhouba Group Company Ltd. (CGGC) [State-owned Company]

Loan type

Concessional

Maturity

15 years

Interest rate

3.0%

Grace period

5 years

Grant element

41.43627952%

Gurarantee provided

No

Insurance provided

No