Wednesday, May 16, 2012 | 16:12 Illustration of electricity substation PIP Power Fund Committed EBT Rp3, 4 Trillion Granting a loan facility for renewable energy projects will be taken from reserve funds PIP
Government Investment Center (PIP) set aside Rp3, 4 trillion to the credit facility pengembangunan fuel power plants with renewable energy (EBT) in the year. The details for the development of Geothermal Power Plant (PLTP) Rp2 trillion and micro hydro power plant (MHP) amounting to Rp1, 4 trillion.
PIP head, Soritaon Siregar, said the provision of loans for renewable energy projects will be taken from reserve funds PIP. PIP was originally to have a reserve fund of Rp15 trillion, but now almost everything is channeled. The details, worth Rp 7, 5 billion has been officially transmitted to PLN, worth Rp2, 5 trillion had been due to the purchase of 7 percent stake in PT Newmont Nusa Tenggara, originally valued at Rp2 trillion for the development of geothermal power plants, valued at Rp1, 4 billion was due to the development of MHP, and the remainder to infrastructure development.
"For the EBT, we have prepared Rp3, 4 trillion taken from reserve funds merupkan PIP benefits. In the near future, we are ready to sign a three-project financial close, continuing later continued financial close 4-5 renewable energy generation projects," he said after signing a memorandum of understanding (memorandum of understanding / MoU) with PLN at the Office of the PIP in Graha Mandiri Jakarta, this afternoon.
Soritaon disclose, for financial close to signing a loan between the PIP with the developers of renewable energy generation projects, PIP did MOU with PLN. In the memorandum, PLN will provide knowledge sharing related to the development and construction of renewable energy power projects are worked by private power developers (independent power producer / IPP).
"We have received several loan applications for renewable energy power plants. Some of the companies that applied for it already has a power purchase agreement (power purchase agrement / PPA) with PLN. But because the new PIP started to deal with renewable energy projects, PIP still have limited experience and knowledge in the management of funding for renewable energy based projects. On this basis, we articulated foreign policy, "he said.
Memorandum of agreement in that it contains the PIP and PLN to share knowledge and information (knowledge sharing) as well as capacity building. It is important to support the PIP in determining the feasibility assessment of a renewable energy project to be financed. PLN will do the transfer of knowledge about things that need to be controlled by the PIP in assessing and managing investments in renewable energy sector by providing training / Workship PIP as needed.
PIP will only fund projects that already have EBT PPA with PLN, but not close or fund financial gain. In addition to holding PLN, for the determination of project feasibility, PIP prepare a world-class foreign consultants to see projects from a technical, legal, and finance.
PLN is very concerned with PIP effort because the SOEs are trying to increase power generation from renewable energy to reduce dependence on fossil fuels, especially oil.
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