Germany to invest in hydro power project in Indonesia
Thursday, October 30 2014 - 01:37 PM WIB
"Germany has just committed 175 million euros in the form of a preferential loan for Indonesias sustainable hydropower program," Georg stated during a press conference here on Thursday, as quoted by Antara.
He added that the embassy sent an official note to the Development Planning Board (Bappenas) regarding the loan on Wednesday, Oct 29.
An agreement, according to Georg, had been reached during a government to government meeting held in Jakarta on November 14, 2013.
"The aim of the program is to promote the utilization of Indonesias vast hydro energy resources and help the government achieve its goal of improving electricity generation from renewable sources," Georg noted.
The ambassador remarked that the program also aimed to reduce Indonesias greenhouse gas emissions.
The German party will give the budget to state owned electricity firm PT Perusahaan Listrik Negara (PLN) to build hydropower stations.
"It is a direct loan to PLN. I hope the program will start in 2014 since we have sent the note to the Bappenas," Head of the Development Cooperation of German Embassy Ina von Frantzius said. (*)