TGR secures loan for Cirompang power plant

PT Jasa Sarana its subsidiary, PT Tirta Gemah Ripah (TGR) will receive a loan worth about Rp 100 billion from Bank CIMB Niaga to partly finance the construction of the company?s minihydropower plant currently being built in Cirompang, Garut, West Java.

The loan agreement was signed in Jakarta on Thursday by CIMB Niaga?s senior executive Hery Adriawan Zainal and the president director of PT Tirta Gemah Ripah Johan Romadhon.

Soko Sandy Buwono, the director of PT Jasa Sarana said as quoted by Antara that it would need at least Rp 130 billion to finance the construction of the power plant to be called PLTMH Cirompang.

PLTMH Cirompang minihydro power plant, the first power plant to be operated by TGR, will have capacity of 8 megawat and will be the largest minihydro power plant in West Java.

TGR builds the power plant under a build, own and operate (BOO) cooperation scheme. The electricity from the power plant will be sold to PLN under a 15-year contract based on a take and pay scheme. (*)