Status: Financing (pre-Financial Close)

On 17 May 2016, four companies signed a Memorandum of Understanding for development of the proposed US$2 billion, 1,000MW Cirebon 3 coal-fired power station in Cirebon, West Java, Indonesia.

Debt-to-equity ratio: 75:25

(Debt: US$1.5b)
(Equity: US$500m)

In early June 2016, one source stated: “Signing of the loan documents is expected after signing of the facility for the Central Java IPP project is completed.” Several days later, the Central Java IPP project reached financial close.

It expands upon the existing Cirebon power station and will sit alongside Cirebon 2.

Image: 660MW Cirebon power station.

  • Indika Energi Internasional
  • Korea Midland Power
  • Marubeni Corporation
  • Samtan
Export Credit Agencies (ECAs)

  • Export–Import Bank of Korea (Kexim)
  • Japan Bank for International Cooperation (JBIC)


  • Bank of Tokyo-Mitsubishi UFJ
  • Credit Agricole
  • ING Bank
  • Mizuho Financial Group
  • Sumitomo Mitsui Banking Corporation