Austindo signs loan agreement for biogas power plant
Thursday, December 18 2014 - 01:10 AM WIB
PT Austindo Aufwind New Energy (AANE) announced on Wednesday the firm together with its parent company, IDX-listed palm oil company PT Austindo Nusantara Jaya Tbk, has signed a loan agreement worth US$750,000.
The firm did not unveil who will provide the loan but it said the money will be spent to expand the capacity of AANE?s biogas power plant in Jangkang village, East Belitung regency, Bangka-Belitung province.
The power plant is the first independent power producer in the country using palm oil mill affluent (POME) as fuel.
The firm earlier said it plans to expand the capacity of its Jangkang biogas power plant from 1.2 MW to 1.8 MW.
The expansion is expected to be completed in August of next year.
Editing by Johannes Simbolon