Supporting Indonesia's clean energy transition
Export Finance Australia (EFA) and Indonesian state-owned electricity company, PT Perusahaan Listrik Negara (PLN), have strengthened their cooperation today by signing a Memorandum of Understanding (MOU) during the ASEAN Indo-Pacific Forum.
Media release
5 September 2023
Export Finance Australia (EFA) and Indonesian state-owned electricity company, PT Perusahaan Listrik Negara (PLN), have strengthened their cooperation today by signing a Memorandum of Understanding (MOU) during the ASEAN Indo-Pacific Forum.
Under the MOU, EFA and PLN will work together to develop a US$200 million capital financing facility to support Indonesia’s clean energy transition.
EFA’s commercial financing support would allow PLN, Indonesia’s leading electricity provider, to invest in high-quality projects, including those which improve energy transmission or support a greater uptake of renewable energy across Indonesia’s grid.
Managing Director and CEO of EFA, Mr John Hopkins, said the agreement is a great example of how EFA can support the region’s energy transition.
“We’re excited about working with PLN to demonstrate how Australia can contribute to Indonesia’s commitment to transition to net zero by 2060.”
Finalisation of the capital financing facility is subject to the successful conclusion of commercial negotiations between EFA and PLN.
Signing the MOU progresses the EFA-PLN partnership, furthering the commitment to deepen cooperation on reducing emissions and promoting clean energy systems made by Prime Minister Albanese and President Widodo at the Australia-Indonesia Annual Leaders’ Meeting in July.
ENDS
Media Contact:
Chris Munro, +61 438 612 341, media@exportfinance.gov.au
About Export Finance Australia (EFA)
EFA is Australia’s export credit agency (ECA).
EFA provides commercial finance for export trade and overseas infrastructure development. From small and medium sized enterprises (SMEs) to large corporates, foreign Governments and infrastructure projects, we help Australian businesses take on the world. In doing so, EFA finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account (NIA), which currently includes the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific (AIFFP).
EFA also provides support to other Commonwealth entities, including the National Housing Finance and Investment Corporation (NHFIC) and the Northern Australia Infrastructure Facility (NAIF).
