US DFC commits up to USD 126m for Indonesian geothermal project

The US International Development Finance Corporation (DFC) has committed up to USD 126 million (EUR 116m) in support of the development and operation of a 31-MW geothermal power project in Indonesia, it was announced on Wednesday.

The DFC commitment was made in coordination with the project’s current financing lender – Indonesian infrastructure bank PT SMI – and benefits power company PT Medco Cahaya Geothermal.

The project in question is the Phase I Ijen Geothermal, which is located in the province of East Java.

“This project also reinforces our shared goals through the U.S.-Indonesia Comprehensive Strategic Partnership, which will enhance economic and energy security for both of our countries,” commented Nisha Biswal, deputy CEO of the DFC.

(USD 1.0 = EUR 0.923)

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