PLN Signs Green Financing Mandate Worth USD 750-Million

Tempo Nasional are reporting that Indonesia’s state-run electricity company, PT PLN (Persero), has signed a Mandate Letter worth USD 750-million from eight international and multinational banks. This activity is to support a number of green energy transition projects that will be worked on by the company.

This green financing mandate was signed by PLN Finance Director Sinthya Roesly with eight international and multinational bank leaders witnessed directly by PLN President Director Darmawan Prasodjo in a series of Energy Transition Day events in Nusa Dua, Bali, Tuesday, November 1, 2022.

PLN President Director Darmawan Prasodjo explained that PLN carried out a number of initiatives to support the decarbonization agenda. One of them is retiring steam power plants (PLTU) and intensively building new renewable energy plants (EBT.) In carrying out the project to pursue the carbon neutral target, PLN welcomes international support from the financing side.

“We plan to fully use this financing to support the development of EBT-based programs,” said Darmawan.

Darmawan explained that international support and collaboration are needed to support PLN’s mission in an effort to make the energy transition in Indonesia a success.

“This proves that PLN has the trust and support of creditors and international investors so that PLN can get financing at competitive pricing like this in the midst of a market and economic situation that is full of uncertainty and volatility,” he said.

The eight banks that received the green financing mandate were Bank of China, China Construction Bank, CIMB, DBS Bank, PT Bank Mizuho Indonesia/Mizuho Bank Ltd, OCBC, Sumitomo Mitsui Banking Corporation/Bank BTPN, and United Overseas Bank (UOB).

Source: Tempo

Latest Article
Minister: Downstreaming Leads to a Golden Indonesia
Speaking at a public lecture at the State Institute of Public Administration (IPDN) in Sumedang, West...
Indonesia Looks to Complete ICA-CEPA by Year-End
Indonesia’s Trade Minister Zulkifli Hasan is targeting to complete the Indonesia-Canada Comprehensive...
Minister Urges TikTok to Invest More
According to reporting from Tempo, Indonesia’s Minister of State-Owned Enterprises (SOE), Erick...
Indonesian Economy Grows 5.11%, Top 5 in G20
Indonesia’s economy is doing well. It grew at a healthy 5.11% in the first quarter of 2024, compared...
Indonesia’s Property Sector is Predicted to Improve under New Administration
Indonesia’s property market has a history of riding economic waves and it is poised for a potential...

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.