Weekly renewables M&A round-up (March 11-15)
Mar 15, 2024 15:54 CESTThe Asian Development Bank (ADB) said Thursday it has given the thumbs-up to a loan of USD 300 million (EUR 272m) for a 110-MW geothermal project in Java, Indonesia.
The project is being developed by state-owned geothermal energy company PT Geo Dipa Energi (GDE) and involves the construction and commissioning of two geothermal plants at Dieng and Patuha, in Central and West Java, respectively. Recognised as a National Strategic Project, it is expected to reduce the annual carbon dioxide (CO2) emissions on the Java–Bali electricity grid by over 700,000 tonnes.
Indonesia’s geothermal potential is estimated to be 29 GW. The country already ranks second globally in terms of installed geothermal power generation capacity with its 2.1 GW. The high cost and risk associated with the exploration phase in new geothermal projects, however, is slowing down the expansion of local capacity, the ADB noted.
In addition to the loan of USD 300 million, the bank will also manage a Clean Technology Fund loan of USD 35 million for GDE’s project.
“ADB’s geothermal project will help Indonesia combat climate change and make its electricity system more sustainable, reliable, and efficient. It will also help businesses and consumers access affordable, reliable, and modern energy,” said Winfried Wicklein, the bank’s Country Director for Indonesia.
(USD 1 = EUR 0.91)
Weekly renewables M&A round-up (March 11-15)
Mar 15, 2024 15:54 CESTSembcorp unveils Indonesian solar-storage JV, tender award in India
Mar 12, 2024 7:30 CESTEolus decides on 88 MW of onshore wind projects in Sweden
Mar 28, 2024 11:05 CESTSSE, Bord na Mona form JV to develop 800 MW of onshore wind in Ireland
Mar 28, 2024 11:03 CESTRPC inks first solar deal in Finland with 1-GW development pact
Mar 28, 2024 10:59 CESTAES Andes gets green light for jumbo solar-BESS project in Chile
Mar 28, 2024 10:54 CEST