Medcosolar East Bali solar PV plant

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The project comprises the development of a 25-MW solar farm in Kubu District, Karangasem Regency, East Bali, Indonesia. The sponsors are Solar Philippines and Indonesia-based Medco Energi, which formed the joint venture PT Medcosolar Bali Timur. On April 8th, 2024 it has secured a $14-million bank loan to fund the project. The deal was signed with Bank Negara Indonesia (BNI) as a lender. The project, initiated in 2023 with an estimated cost of $20 million, is set to come online by the end of 2024. The solar project is one of the two schemes that the partners will execute under power purchase agreements (PPAs) with PLN. The 20-year contracts for the projects in East and West Bali, respectively, were awarded in a tender held by the utility (PLN) in 2019. https://southeastasiainfra.com/solar-philippines-jv-secures-financing-for-solar-farm-in-indonesia/ https://southeastasiainfra.com/solar-philippines-jv-secures-financing-for-solar-farm-in-indonesia/