Overview

China Construction Bank provides $400 million loan for 200MW (2x100MW) Kalbar-1 Coal-Fired Power Plant Construction Project

Commitments (Constant USD, 2023)$402,518,518

Commitment Year•2018Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2018

Start (actual): Aug 7, 2017

End (actual): Apr 28, 2021

Geospatial footprint

Map overview

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The purpose of the project was to construct the 200MW Kalbar-1 coal-fired power plant -- with two 100MW power generation units (known as Unit 1 and Unit 2) in West Kalimantan (precise locational coordinates: 0.816152, 108.846126). More detailed locational information can be found at https://www.openstreetmap.org/way/872005243 and https://www.google.com/maps/place/PLTU+KALBAR+1/@0.8961804,108.8200176,12z/data=!4m10!1m2!2m1!1sKalbar+power+plant+Indonesia!3m6!1s0x31e30b298d1b4037:0xca4f194f8dbc55f6!8m2!3d0.8156526!4d108.8460264!15sChxLYWxiYXIgcG93ZXIgcGxhbnQgSW5kb25lc2lhWh4iHGthbGJhciBwb3dlciBwbGFudCBpbmRvbmVzaWGSAQtwb3dlcl9wbGFudJoBJENoZERTVWhOTUc5blMwVkpRMEZuU1VNd04zRlRMV2hSUlJBQuABAA!16s%2Fg%2F11fd564h2j?entry=ttu

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownershipAt least 25% Chinese ownership

Funding agencies

State-owned Commercial Banks

China Construction Bank Corporation (CCB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

PT GCL Indo Tenaga

Implementing agencies

State-owned companies

Shandong Electric Construction Corporation III (SEPCO III)

Insurance providers

State-owned companies

China Export & Credit Insurance Corporation (Sinosure)

Loan desecription

China Construction Bank provides $400 million loan for 200MW (2x100MW) Kalbar-1 Coal-Fired Power Plant Construction Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2018, China Construction Bank signed a $400 million loan agreement with PT GCL Indo Tenaga -- a special purpose vehicle and joint venture of PT PLN Indonesia Power Renewable (PLN IP Ren) [35% equity stake] and Taicang Harbor Golden Concord Electric-Power Generation Co., Ltd (GCL) [65% equity stake] -- for the 200MW (2x100MW) Kalbar-1 Coal-Fired Power Plant Construction Project. The borrowing terms of the loan are unknown. However, it is known that the loan was backed by a Sinosure credit insurance policy. The purpose of the project was to construct the 200MW Kalbar-1 coal-fired power plant -- with two 100MW power generation units (known as Unit 1 and Unit 2) in West Kalimantan (precise locational coordinates: 0.816152, 108.846126). SEPCOIII was the EPC contractor responsible for project implementation. Construction began on August 7, 2017. Unit 1 was commissioned on December 29, 2020 and Unit 2 was commissioned on April 28, 2021.

Staff comments

1. The Chinese project title is Kalbar-1 2×100MW燃煤电站项目 or 协鑫印尼卡巴电站. 2. GCL is owned by Suzhou-based Golden Concord Holdings Ltd