PLN secures loan from Japanese banks for RE projects in Indonesia

Perusahaan Listrik Negara (PLN) has secured USD200 million in loans from the Nippon Export and Investment Insurance (NEXI), a company owned by the Government of Japan, to develop renewable energy (RE) projects in Indonesia.

The loans will support PLN’s transition away from coal-fired power plants in favour of renewable energy sources such as solar and geothermal energy facilities from 2025. Funds will be used to advance research and development as well as to purchase electricity from renewable energy producers. NEXI will insure the loan and participating banks are being selected.