ADB announces second phase of financing package for renewable energy projects in Indonesia.

The Asian Development Bank (ADB) has announced the second phase of a private sector financing package of $40 million for four subsidiaries of Vena Energy, formerly known as Equis Energy, which has 11 GW of capacity in either the operation, construction, or development phase in the Asia-Pacific region. The loan package is part of a two-phase portfolio financing of $160 million for new renewable energy investments in Indonesia. The financing for the first phase, which was signed in December 2017, consisted of a 72 MW wind power plant in Jeneponto, South Sulawesi, Indonesia. ADB’s financing package for PT Energi Bayu Jeneponto, a subsidiary of Vena Energy, totalled $120.8 million. The second phase comprises a 21 MW solar PV power plant in Likupang, North Sulawesi, and three 7 MW solar PV plants in Pringgabaya, Selong, and Sengkol in Lombok, West Nusa Tenggara.

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