Syndicated credit facility worth U.S. $ 75.3 million and Rp 10 billion to PT Meppogen for the development of gas power capacity of 30 MW

PT Bank Internasional Indonesia Tbk (BII) as Mandated Lead Arranger together with PT. CIMB Niaga Tbk. syndicated credit facility worth U.S. $ 75.3 million and Rp 10 billion to PT Meppogen for the development of gas power capacity of 30 MW.

Advertisement

PT Meppogen a private power company established since 2006. Majority shareholder of the company today is PT Widjajatunggal Sejahtera or better known as the Synthesis Group.

This syndicated credit facility of which will be used for the development of electric power center environmentally friendly. Currently, PT Meppogen been operating Power Plant Gas (PLTG) with a capacity of 2×40 MW, located in Mount Mosque, Muara Enim, South Sumatra.

This project will be developed into Combined Cycle project that combines two types of turbine power plants. Emissions of the remaining results of further processing of the gas turbines will be utilized to generate steam turbine using the HRSG (Heat Recovery Steam Generator) that can generate a total capacity of 110 MW electricity efficiently without the additional cost of gas.

“We appreciate the PT Meppogen who has succeeded in developing environment-friendly electricity projects efficiently, thus contributing positively to the needs of electrical energy sources in the country with the advanced aspects of energy conservation,” said Ridha Wirakusumah, President Director of BII.

Corporate banking credit portfolio has contributed 24.6% of BII’s total loan portfolio amounted to Rp 36.49 trillion (as of 30 September 2009). Along with the global economic recovery and economic conditions in the country increasingly conducive, BII credit target may grow 20% -25% in 2010 to harmonize the concentration of business in the consumer sector, corporate and SME / commercial.

Announcement from our Chairman, David C BarclayThe World Renewable Energy Association are delighted to announce the launch of a brand-new initiative exclusively for its members. The Renewable Energy Finance Hub has been launched following the largest survey undertaken with UK businesses conducted by WoREA in conjunction with the UK Government and its partners. Reduce your businesses carbon footprint today and begin your journey towards net zero!