Construction will begin in May 2016 on Indonesia’s largest wind farm as Asia Green Capital Partners Pte Ltd., a Singapore-based clean energy developer, lines up financing for the 62.5-megawatt project.
The World Bank’s International Finance Corp. will contribute to the project known as Jeneponto 1, which will cost $120 million to $135 million, according to Edgare Kerkwijk, managing director of Asia Green Capital.
The firm expects the project to achieve “financial closure in the first quarter of 2016,” Kerkwijk said. Standard Chartered PLC has been appointed as the financial adviser.
The power purchase agreement for the project is being negotiated and is expected to be signed in three to four weeks.