Jakarta, 18 December 2019 --- Indonesia's electrification ratio is getting closer to 100%. To encourage the acceleration of this achievement, PT Perusahaan Listrik Negara (Persero) or PLN is working on the Steam Power Plant (PLTU) and the Gas Engine Power Plant (PLTMG) Projects on the Sulawesi Island 35,000 MW program.
In order to support PLN's business, PT Bank Negara Indonesia (Persero) Tbk (BNI) led the syndicated financing of Rp5.07 Trillion. The loan distribution was marked by the signing of the Syndicated Credit Agreement between the Finance Director of PLN, Sarwono Sudarto and the Syndicated Unit Leader of BNI, TP Sitompul and the Head of SOEs and Government Institution (BIN) of BNI, Babas Bastaman and other syndicated participating banks in Jakarta, Wednesday (18 December 2019).
Babas Bastaman said, BNI has the largest portion in the syndicated financing namely Rp2.3 Trillion. The 35,000 MW Program for this PLTU dan PLTMG Project has the total project value of Rp 6 Trillion and obtains Government Guarantee. In addition to Sulawesi Island, this project also covers the islands of Sumatra and East Nusa Tenggara. After all these projects are completed, it is expected that Indonesia will get closer to 35,000 MW electricity supply, so that the Electrification Ratio Target of 99% by 2022 can be pursued.
"The geographical factor of Sulawesi Island, which is surrounded by many islands, makes PLTMG a suitable source of energy. Through this syndicated loan channel, BNI hopes to help PLN provide electricity to the people of Sulawesi for lighting, education, and entertainment needs," Babas said.
Until now, the project's progress has reached an average of 38.52% of the project value. All facilities provided by BNI to PLN are used for projects that get Government Guarantees and also Loans that are Coporate Loans.
For more information, please call:
Corporate Secretary BNI