Tolo Wind Park

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The project involves the construction and operation of a 72-MW wind park in Jeneponto, South Sulawesi, Indonesia. Tolo Wind Park will be build, own and operated by the special purpose vehicle PT Energi Bayu Jeneponto on behalf of the sole sponsor - Equis Energy. The project has a 30-year power purchase agreement with Perusahaan Listrik Negara, the government-owned electricity distributor. Contract was awarded on a license scheme in the attempt of the Indonesian Government to reduce greenhouse gas emissions by prioritizing the use of renewable energy. Siemens was chosen as a EPC contractor. Total investment cost is estimated at around $160 million. Although it was initially announced that OPIC will provide a loan worth $120 million, according to Shearman & Sterling submission, Asian Development Bank was the lender to PT Energi Bayu Jeneponto in the total amount of $120.75 million, split in 3 tranches. The remaining cost will be covered by equity contribution - about $39.25 million. Hence, debt to equity ratio is 75:25. Financial closure occurred on December 16, 2017. Bank submission https://ijglobal.com/data/transaction/36662/tolo-1-wind-farm-72mw Equis Energy to be added to sponsors' list