Solar Philippines JV Secures Debt for Indonesian PV Project

• Solar Philippines and Medco Energi secure $14M loan for 25-MW solar park in East Bali, set to be Indonesia's largest PV plant by 2024.

Solar Philippines and its Indonesian JV partner Medco Energi have secured a USD 14 million loan from Bank Negara Indonesia for the construction of a 25-MW solar park in East Bali, Indonesia. The project is estimated to require a total investment of USD 20 million and is expected to be commissioned by the end of 2024.

The PV plant, which will be the largest ground-mounted PV park in Indonesia, is being developed by PT Medcosolar Bali Timur, with Solar Philippines holding a 49% stake and Medco Energi holding a controlling 51% stake. The project is one of two schemes that the partners will execute under PPAs with Indonesian utility PLN, with 20-year contracts awarded in a tender held in 2019 for projects in East and West Bali.

What is the estimated total investment for the construction of the 25-MW solar park in East Bali?

• The estimated total investment for the construction of the 25-MW solar park in East Bali is USD 20 million.
• Solar Philippines and Medco Energi have secured a USD 14 million loan from Bank Negara Indonesia for the project.
• The project is expected to be commissioned by the end of 2024.
• The PV plant will be the largest ground-mounted PV park in Indonesia.
• PT Medcosolar Bali Timur is developing the project, with Solar Philippines holding a 49% stake and Medco Energi holding a controlling 51% stake.
• The partners have PPAs with Indonesian utility PLN for this project and another one in West Bali, with 20-year contracts awarded in a tender held in 2019.