JAKARTA – Indika Capital Pte Ltd (ICPL), channels a loan worth USD 51 million to help funding the solar power plant project intiated by PT Empat Mitra Indika Tenaga Surya (EMITS).
In the information disclosure quoted Wednesday (3/8), EMITS plans to install solar panels of 500 megawatts in Indonesia in order to meet the utility, commercial, and industrial demands, as well as off-grid needs. The loan will also be used in the operational activities and establishment of said solar power plant, which will then be leased to potential customers.
ICPL has set the credit tenor to two years with 4.8% annual interest rate and a 2% overdue fine. The loan given by ICPL originates from its parent company, PT Indika Energy Tbk (INDY) and Fourth Partner Energy Singapore Pte Ltd.
A portion of the facility by EMIT will be allocated to its affiliated company, PT Tripatra Multi Energi (TIME) as another facility, amounting to IDR 36.28 billion. This facility has a tenor of 15 years, an annual interest rate of 6.95%, and a 2% late fine. (LK/ZH)