REPUBLIKA.CO.ID, BIAK - World Bank will finance 400 solar power projects in Indonesia worth 250 million USD or equal to 2.3 trillion IDR. The projects are part of solar power programs in 1,000 islands.
"World Bank has signed Memorandum of Understanding (MoU) for 400 solar projects," Operational Director of State Electricity (PLN) on East Indonesia, Vickner Sinaga, said last week.
The financing is in line with the agency steps to support renewable energy in emerging economies. PLN also recently obtains triple A (AAA) rating for period February 1 to May 31. PLN is able to get funds with 4.5 to five percent of interest for 30 years.
World Bank mostly finances the solar projects in Eastern Indonesia, which are still in tender process. PLN targets to finish 80 of 100 projects this year. "PLN has built 36 projects out of 100," he said.
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