PLN: World Bank to finance Upper Cisokan power project

By Cepi Setiadi

The World Bank is expected to help finance the PLTA Upper Cisokan hydro power plant project in West Java, said Nasri Sebayang, Business Director for West Java Region at state-owned electricity firm PT Perusahaan Listrik Negara (PLN).

Nasri said that the hydro power plant project, dubbed to be largest in Southeast Asia with planned capacity of 1,040 MW, is projected to cost about US$900 million, of which $700 million will come from the World Bank, and the remainder $200 million from PLN?s internal cash.

He added that the World Bank is expected to sign the loan agreement in November, so that construction of the project could start end of this year in the hope that it could be completed in 2019. He said that about 80 percent of the land requirement has been acquired.

Nasri said that PLN has yet to decide which of its subsidiaries, whether PT Pembangkitan Jawa Bali or PT Indonesia Power, will operate the new power plant.

Editing by Reiner Simanjuntak