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Tanjung Jati B Units 5 & 6
– TJB2 (2,000MW)

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Status: Financial close achieved on 27 March 2017

Location: Tanjung Jati, Central Jawa, Indonesia

Total project cost: US$4.2 billion

Debt-to-equity ratio: 80:20

Debt: US$3.36b
Equity: US$0.84b

PPA: 25 years (signed December 21, 2015)

This project expands upon four existing units at Tanjung Jati.

Image: Tanjung Jati B, Units 3 & 4

Sponsors

Sponsors provided US$840m equity finance

  • Sumitomo Corporation – 50%
  • Kansai Electric Power Co – 25%
  • PT United Tractors (Astra Group) – 25%
EPC
  • Sumitomo Corporation
Advisers
  • Financial: SMBC (though previously reported as Mizuho)
  • Legal: Latham & Watkins
Lenders

Export Credit Agencies (ECAs) – US$1.677 billion

Commercial banks – US$1.677 billion

  • Mitsubishi UFJ Trust and Banking
  • Mizuho Bank
  • Mitsubishi UFJ Financial Group
  • Norinchukin Bank
  • OCBC Bank
  • Sumitomo Mitsui Banking Corporation
  • Sumitomo Mitsui Trust Bank
Insurers

Commercial debt insurance (covers 100% political, 90% commercial risk)

  • Nippon Export and Investment Insurance (NEXI)