Completed Mixed AidData Chinese Aid

ICBC contributes to $625.2 million loan for 660MW Adipala Power Plant Construction Project (Linked to Record ID#67236)

$312.63M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	PT Perusahaan Listrik Negara (Persero) (PLN)
Country	Indonesia
Start Date	Oct 14, 2009
End Date	Aug 26, 2031
Duration	7,986 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105327`

Grant Description

ICBC and CDB contributions to $625.2 million loan for the 660MW Adipala Power Plant Construction Project On October 14, 2009, China Development Bank (CDB) and the Industrial and Commercial Bank of China (ICBC) signed a $625,256,803 loan agreement with Perusahaan Listrik Negara (PLN) — an Indonesian state electricity distribution company — for the 660MW Adipala Power Plant Construction Project.

Record ID#67236 captures CDB's estimated contribution, and Record ID#105327 captures ICBC's estimated contribution.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following terms: a 13-year maturity

📅 Maturity13 years

⏳ Grace Period3 years

The loan’s final maturity date was October 14, 2022.

The proceeds of the loan were to be used by the borrower to finance an EPC contract between PLN and China National Technical Import and Export Corporation (CNTIC).

The purpose of the project was to install a 660-megawatt (MW) coal-fired Adipala Power Plant in Bunton Village, Adipala District, Cilacap Regency, Central Java Province (exact locational coordinates: -7.68377, 109.13756). The plant is located about 3 km east of the Cilacap Sumber power station. CNTIC was the general contractor responsible for implementation.

However, the steam generator set for the project was supplied by Shanghai Electric. A project kickoff meeting took place with CNTIC on November 16, 2009. Pile foundation work was initiated in April 2011 and completed on December 12, 2012. Construction of the power plant itself began on April 27, 2014.

The construction of the breakwater was completed on November 21, 2014. A 720-hour trial run operation of the plant was undertaken in June and July 2016. The project owner (PLN) issued a test completion certificate on July 19, 2016.

As part of the CIF ACT Investment Plan (IP), the Adipala plant was specified as one of seven PLN coal plants for transitioning to more sustainable operations in October 2022, accompanied by official consultations and environmental and social impact assessments.

📋 Staff Comments

This project is also known as the 660MW PLTU 2 Jateng Adipala Power Station Project, the Bunton Power Station Project, and the PLTU 2 Jateng Project. The Chinese project title is 阿迪帕拉66万千瓦超临界燃煤电站项目.
The project was part of the fast-track program by Indonesian government to add power plants around the country, which totalled to about 10000 MW.
Given that the individual contributions of the banks are unknown, AidData assumes equal contributions ($312,628,402) across the two members of the loan syndicate. Record ID#67236 records CDB's contribution and Record ID#105327 captures the contribution from ICBC.
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

2011 Bond Prospectus
China's Global Energy Finance
Slowing the Growth of Coal Power Outside China: The Role of Chinese Finance
PLN Dapat Utangan dari China
Laporan Pengelolaan Kewajiban Penjaminan Pemerintah
印尼阿迪帕拉1号机正式投产发电
驻印度尼西亚大使章启月出席印尼电站项目贷款协议签字仪式
PERKEMBANGAN PENGELOLAAN KEWAJIBAN KONTINJENSI TRIWULAN II TAHUN 2016
Adipala power station
Kick-off Meeting of Adipala Power Plant Project Contracted by CNTIC Was Held in Indonesia
PLTU2 Jetang 1X660MW Adipala
Cilacap Contracted by CNTIC Has Completed the 720-Hour Reliability Test Run
Vice President of CNTIC Zhang Xu Inspected the Site of Indonesia Adipala Project
Overseas Attractions: The Construction of Break-Water of PLTU2 Jetang 1X660MW Adipala
Cilacap Has Been Finished
All Pile Foundations Completed for Indonesian Adipala Power Plant Project Undertaken by CNTIC
PLTU Adipala Cilacap 700 MW Beroperasi Akhir 2015 Artikel ini telah tayang di Bisnis.com dengan judul 'PLTU Adipala Cilacap 700 MW Beroperasi Akhir 2015'
Klik selengkapnya di sini: https://ekonomi.bisnis.com/read/20150504/44/429501/pltu-adipala-cilacap-700-mw-beroperasi-akhir-2015. Author: Muhammad Khamdi Editor : Yusuf Waluyo Jati Download aplikasi Bisnis.com terbaru untuk akses lebih cepat dan nyaman di sini: Android: http://bit.ly/AppsBisniscomPS iOS: http://bit.ly/AppsBisniscomIOS, 2017 Government of Indonesia Bond Prospectus
驻印度尼西亚大使章启月出席印尼电站项目贷款协议签字仪式
CIF ACT Investment Plan (IP) INDONESIA
Adipala coal-fired power plant
Bunton
Central Java
Indonesia Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.