10MW SOLAR PROJECT (22MWh STORAGE) – SOUTH SUMATRA – PPA SIGNED WITH PRIVATE MARKET OFF-TAKER – $13m TOTAL INVESTMENT COST
Project type: SOLAR/BESS
Investment cost: US$13 Million
EPC cost/status: $12m/ EPC AVAILABLE for tender.
Land/Grid Connection status: Land provided by off-taker
Project Stage: Ready for Construction
PPA (date/tariff/term) PPA SIGNED in 2020 / Tariff (via lease agreement) equivalent to be $0.1185/kwh for 20 years
Annual Sales/Cash flow(est) $5m/ $3.5m (EBIT)
Off-taker: Coal-Trading business with credit rating 4A3
Technology: The energy storage system and inverter is being supplied by a Tier 1 global supplier (contracts already signed). The module and structure is open for bidders. There will be a total of 23600 modules with a module spec of 445wp.
Project Details: The project owners (an overseas/local consortium) are looking for international partners to participate in this private market solar project. The investor will have the option to acquire up to 100% of the project either pre or post COD. The local partners are currently engaged in several other projects with PLN as off-taker and are thus looking for investors to increase financing capacity.
Debt finance: Local bank interest rate is 10%, overseas will be lower.
Project IRR/Payback Period - 14% / 6 years