24MW SOLAR C&I PIPELINE IN WEST & CENTRAL JAVA


$ 17.000.000



24MW SOLAR C&I PIPELINE IN WEST & CENTRAL JAVA – $17m TOTAL INVESTMENT COST ACROSS 8 SITES

Project type:  SOLAR POWER – C&I

Investment cost: US$17 Million

EPC cost/status: est $16.2m/ EPC already assigned.

% construction complete:   0%

Project Stage: Proposals submitted and approved- awaiting PPA signing with each client. 

Time to PPA:  1 month from providing proof of funds

Expected tariff/term: IDR 1050-1100kwh /20 year term

Annual Sales (est):  $2,400,000

Annual Cash flow (est): $2,010,000

BOOT/BOO: Na

Technology: Bifacial 540w Panel

Project Details:  Our client is developing 24MW of rooftop solar across 8 sites in Java. The projects are with larger corporates in the retail and industrial sectors. Feasibility studies/proposals have been completed and are available after NDAs are exchanged. The developer is now looking for an international partner to bring these projects as well as a broader pipeline of Solar assets forward to construction.

Management Background:  The developer is one of the best-known names in Indonesian Solar. They were one of the first IPPs to get a Solar PPA of more than 5MW and since then they have grown quickly within the C&I space with this 25MW pipeline, as well as a 30MW IPP project in East Nusa Tenggara.

Debt finance: Not yet secured. Local IIF interest rate anticipated to be 9% with a tenure of 10 years. With the help of European ECA support the best we have seen is 7% and 14 years of tenure.

Unlevered IRR: 10.6%

Investor IRR: 13.1% assuming 30% equity/ 70% debt and a 20% local partner shareholder loan

Investor Payback Period : 8 years.