Financial close for Indonesia's first utility-scale wind project

Financial close for Indonesia's first utility-scale wind project

A consortium headed by UPC Renewables has reached financial close for the
75MW Sidrap wind farm in South Sulawesi.

Construction has already started on the $150 million development, which will
be Indonesia's first utility-scale wind project when it starts delivering
power from its 30 Gamesa G114 2.5MW turbines early next year.

The owner-operator, PT UPC Sidrap Bayu Energi, is a joint venture formed by
UPC Renewables, PT Binatek Energi Terbarukan and AC Energy Holdings.

The project has a 30-year power purchase agreement with PLN, the state-owned
utility, and is part of a 300MW memorandum of understanding that UPC
Renewables has signed with the South Sulawesi administration.

Indonesia has set a target of adding 35GW of energy capacity by 2020, of
which renewables should provide 23%, around 8GW.

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com