The Asian Development Bank (ADB) has announced the first drawdown of funds under a private sector financing package totalling more than $305 million. The amount has been invested in Jawa-1, Indonesia’s largest combined cycle gas turbine power plant.
The project comprises a 1,760 MW combined cycle gas turbine power plant and ancillary infrastructure in Cilamaya at Karawang, West Java. ADB’s financing package includes a direct loan of $185 million, and a parallel loan of $120 million provided by Leading Asia’s Private Infrastructure Fund, which is administered by ADB.