Indonesia state utility, Perusahaan Listrik Negara (PLN) will construct the plants.
As original lenders, the two international export credit agencies will equally finance the investments in the mobile power plants, which will have a combined capacity of 500MW.
The HEXIM's financed portion is covered by Hungarian Export Credit Insurance Company (MEHIB) while EDC provided direct financing.
The mobile power plants are being developed as part of PLN’s efforts to accelerate the government’s priority to install 35,000MW new power capacity by 2019.
Designed to deliver electricity for approximately four million Indonesian homes, the power plants will be built in areas where there is urgent need for additional electricity infrastructure.
PLN finance director Sarwono said: “PLN is committed to expand access to electricity in Indonesia and support the government’s program to develop additional electricity capacity by 35,000 MW by 2019, which will help drive economic growth across Indonesia.
“As such, we have been utilizing ECA financing without sovereign guarantee in our financing portfolio in addition to financing from other bilateral and multilateral institutions.”
As part of a deal signed with PLN in 2015, GE will provide 20 GE TM2500 gas turbine generator packages for the 500MW of fast power plants for Indonesian electricity company.
The mobile power plants will be built in eight locations in Indonesia including Lampung (100MW), Pontianak (100MW), Bangka (50MW), Riau (75MW), Belitung (25MW), Ampenan (50MW), Paya Pasir (75MW) and Nias (25MW).
