North Sulawesi & Lombok PV Solar Plants

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The project comprises a 21 MW solar PV power plant in Likupang, North Sulawesi and three 7 MW solar PV power plants in Pringgabaya, Selong, and Sengkol in Lombok, West Nusa Tenggara. For the execution of the projects - four separate SPVs were established. Vena Energy, formerly known as Equis Energy, is the sponsor of the projects. In August 2017, Vena Energy reported that it had signed long term (20-year) power purchase agreements (PPAs) with Indonesian state-owned utility PT PLN. ADB’s financing package totaled $40 million to four respective subsidiaries of Vena Energy. Project financing is provided by ADB through trust funds, namely, the Leading Asia’s Private Infrastructure Fund (LEAP) and the Canadian Climate Fund for the Private Sector in Asia II (CFPS II). Financial closure took place on 24 of May 2018. https://ijglobal.com/data/transaction/41818/north-sulawesi-and-lombok-pv-solar-plants-42mw https://www.adb.org/news/adb-finances-first-ever-utility-scale-solar-pv-plants-indonesia-160-million-renewables-deal http://seasia.solarenergyevents.com/2018/05/24/adb-finances-venas-42mw-of-large-scale-solar-projects-in-indonesia/