Indonesia’s Adaro Energy to Diversify into Renewable Power
Posted on : 15 Feb, 2017
Indonesia’s second-largest coal miner by volume, Adaro Energy is planning to diversify its business by exploring the renewable energy domain.
The company via its subsidiary Adaro Power is aiming to slowly make an entry into the green energy domain. As a start, it plans to add 50 megawatts of renewable power. However, the company is still exploring different types of clean energy sources such as solar-cell, geothermal, biomass and micro hydro power for its project.
Adaro is aiming to invest approximately US$75 million to $100 million for the initial project. It plans to secure 70 percent of the funds from loans and the remainder from internal sources. Adaro has enough equity, but the challenge for the company is to acquire a loan.
Meanwhile the Japan Bank for International Cooperation (JBIC) has provided a loan for Batang power plant project in which Adaro owns 34 percent shares. It will be the biggest coal-fired steam power plant in Southeast Asia.
Adaro is hopeful to secure more finance from Japanese banks as well as JBIC for power projects in Indonesia.
More about clean energy projects in Indonesia will be discussed at CMT’s Indonesia Renewable Power on 27 Feb - 1 March, 2017 in Jakarta.
For more information about the event, contact Ms. Grace Oh at firstname.lastname@example.org or call +65 6346 9147.