TEP signs loan deal for Lampung hydro power plant
Monday, October 6 2014 - 02:17 AM WIB
PT Tanggamus Electric Power (TEP) has signed loan agreement with three banks to help finance the construction of 2x27.7 MW hydro power plant project in Tanggamus Regency, Lampung, Kompas reported Monday.
The paper quoted Choi Pyeong Rak, President Director of Korea Midland Power Co, which controls 60 percent of TEP, as saying that the loan agreement was signed with Korea Exim Bank, BNP Paribas and ING Bank.
Posco Energy owns 20 percent TEP, while the remainder is equally divided by PT BS Energy and PT Nusantara Hydro Alam.
TEP in June signed a 30-year power purchasing agreement with PLN for the power plant project, which is guaranteed by the government of Indonesia. (*)