Asahan-I Hydropower plant

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Asahan-1 HPP was a an 180-MW independent power producer (IPP). It was a joint venture of China's Huadian Corp. and Indonesia's PT Bajra Daya Sentranusa. The plant was located at Porsea, Toba Samosir, North Sumatra Province. The project was intended to provide additional electricity power to North Sumatra. The project cost was estimated to be $270 million project. Originally, the project was proposed as an IPP in the mid-1990s by PT Bajradaya Sentranusa. A 30-year PPA was signed with PLN in 1997 but the project was postponed in January 1998 due to financial crisis that struck Indonesia in 1997. In 2002, the project was revived with a revised power sales tariff of 4.6 cents/kWh. In June 2008, it was reported that the plant was on track to be operational by December 2009. The project was commissioned on 18 January 2011. In July 2012, it was reported that the plant concluded refinancing of the project. Malaysian Maybank Group syndicated the loan of US$330.6 million. Other participating banks in the first US$ 187.5 million 10 year tranche were: PT Bank Bukopin Tbk, PT Bank Internasional Indonesia, Maybank Islamic Bhd, PT Bank Maybank Syariah Indonesia, Export-Import Bank of Indonesia. Banks participating in the second US$44.7 million 10 year second tranche were: Malayan Banking Bhd, PT Bank Bukopin Tbk, TP Bank Internasional Indonesia, Maybank Islamic Bhd, PT Bank Maybank Syariah Indonesia, Export-Import Bank of Indonesia. All aforementioned banks also participated in the third US$100 million Islamic finance tranche. Output was to be sold under a 30 year PPA to PT PLN.