PT PLN (Persero) signed a MANdate Letter worth US$ 750 million from eight international and multinational banks to support a number of green energy transition projects that the company will work on.
The 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.
PLN President Director Darmawan Prasodjo explained that PLN carried out a number of initiatives to support the decarbonization agenda.
One of them is to retire steam power plants (PLTU) and aggressively build new renewable energy plants (EBT).
In carrying out the project of pursuing the neutral carbon target, PLN welcomes international support from the financing side.
"We plan to fully use this financing to support the construction of EBT-based programs," Darmawan said in an official statement, Wednesday, November 2.
Darmawan explained that international support and collaboration are needed to support PLN's mission in an effort to make the energy transition successful in Indonesia.
"This proves that PLN has won the trust and support of international creditors and investors so that PLN gets financing with competitive pricing like this in the midst of a market and economic situation full of uncertainty and volatile," said Darmawan.
The eight banks that obtained this 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).
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