Indonesia’s President Inaugurates OPIC Supported 75MW Wind Farm
July 2, 2018
(OPIC)
SULAWESI, INDONESIA – At a ribbon cutting ceremony, President of Indonesia
Joko Widodo, today inaugurated the country’s first wind power project in
Sulawesi, Indonesia. The project, supported by $120 million of financing from
the Overseas Private Investment Corporation (OPIC) in collaboration with
Sumitomo Mitsui Banking Corporation (SMBC), and built by US developer UPC, will
provide 75MW of installed generating capacity and support the country's clean
energy goals.
“With the financing of this wind farm, we are improving the lives of local
communities by providing reliable, clean power,” said OPIC President and Chief
Executive Officer Ray W. Washburne. “OPIC is proud to be able to bring a new
form of energy generation to the people of Indonesia at competitive price.”
Indonesia's power generation capacity is struggling to meet its growing
electricity demand and this problem is aggravated on the island of Sulawesi. The
75MW wind farm is diversifying country’s generation mix with a clean source of
power and is contributing to the Government of Indonesia’s energy goals of
increasing renewable energy from six percent of the generation mix in 2014 to 23
percent by 2025.
In 2017, the project received a "Smart Project" citation for Best Practices from
Project Finance International. The recognition highlights successfully
structured and executed infrastructure projects in the Asia-Pacific region.
Since 1974, OPIC has committed $2.35 billion in finance and insurance across 116
projects in Indonesia. OPIC’s portfolio of active projects in the country
covers a range of sectors, from healthcare to financial services.
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