“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Saturday, January 31, 2009

PLN Gets $378m in Syndicated Loans

The Jakarta Globe, Muhammad Al Azari & Mita Valina Liem, January 31, 2009

State electricity firm PT Perusahaan Listrik Negara said on Friday that it has secured syndicated loans worth about Rp 4.3 trillion ($378.4 million) to finance the building of power plants across the country in a bid to meet the growing domestic demand for electricity. 

As part of its “fast-track” power generation program, PLN has signed three loan agreements with state and local government-owned banks, including the country’s fourth largest lender, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk and local development banks, or BPDs. 

“The success of the negotiation process and the approval of a loan facility to PLN from syndicated banks show strong support from the national banks and the government [of the program],” said Fahmi Mochtar, president director of PLN. The fast-track program aims add 10,000 megawatts of coal-fired power generation by 2010. 

The loans, which will finance 85 percent of the projects, will mature in 10 years with a three-year grace period and a floating rate based on the Jakarta interbank rate, or Jibor. 

“Until now the [electricity] demand in the market is much higher than the current capacity of PLN to supply consumers,” said Gatot M. Suwondo, president director of PT Bank Negara Indonesia. 

The first agreement that PLN signed was a syndicated loan of Rp 1.1 trillion with BNI and BRI to finance a coal-fired power plant project in Tanjung Awar-Awar, East Java Province, consisting of two power plants with a 350 MW capacity each. 

The second agreement was with BRI and BPDs from districts in Jakarta, Papua, South Kalimantan and South Sumatra provinces for another Rp 1.1 trillion-worth of loans to help finance six power plants in Bangka Belitung Islands, South Kalimantan Province, and Papua Island. 

The remaining Rp 2.1 trillion will be used to construct eight power plants with the capacity to generate a total of 310 MW. The plants will be constructed in the Sulawesi, Kalimantan, Papua and Sumatra Islands. 

Bloomberg reported on Friday that PLN may cut coal buying costs by 38 percent to Rp 500,000 a ton, from around Rp 700,000 to Rp 800,000 a ton last year, due to softening energy prices. 

Last week, Jacobus Purwono, director general of electricity at the Ministry of Energy, said PLN would pay Rp 750,000 for a ton of coal. However, Jacobus said that the earlier estimated coal price was made when the oil assumption was at $80 per barrel, while the ministry is now proposing the oil assumption to be between $40 to $60. 

PLN estimates that it would consume 34 million of coal this year, about 13 percent more than last year, Nasri Sebayang, PLN’s head of primary fuels said, as quoted by Bloomberg. PLN hasn’t priced all the coal it will use, he said, without elaborating further.

Related Article:

Indonesia state power firm PLN seeks $2.5 bln loan

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