Perusahaan Listrik Negara (PLN) has secured USD200 million in loans from the Nippon Export and Investment Insurance (NEXI), a Government of Japan owned company, to develop renewable energy (RE) projects in Indonesia.
The loans will support PLN’s transition away from coal-fired power plants in favour of solar and geothermal energy facilities from 2025. Funds will be used to advance research and development as well as to purchase RE from producers.
NEXI will secure the loan and participating banks are being selected.