A consortium led by Japanese and Indonesian financiers will provide a loan of $1.31 billion to PT Jawa Satu Power (JSP) and PT Jawa Satu Regas (JSR) for the 1,760 MW Java 1 gas-to-power project in West Java, Indonesia. The Japan Bank for International Cooperation has committed a $600 million loan for JSP and JSR. The loan is co-financed by Mizuho Bank and MUFG Bank, among others. The portion co-financed by private sector banks is covered by Nippon Export and Investment Insurance. In the proposed project, electric generation and gas-related facilities will be developed in an integrated manner. JSP will construct, own and operate the combined cycle power plant, while JSR will construct, own and operate an offshore floating liquefied natural gas storage and regasification unit to supply fuel to the power plant. The electricity produced by these facilities will be sold to Indonesian government-owned power utility PT PLN (Persero) for a period of 25 years.