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8/6/2019 Irman Boyle - PFAN Matchmaking and Bank Partnerships
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PFAN Matchmaking and Bank Partnershipsfor Clean Energy Financing in Indonesia:
Irman Boyle
USAID ContractorCountry Manager for IndonesiaECO-Asia Clean Development and Climate Program
Asia Clean Energy Forum 2011
Manila, June 20-24, 2011
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Seeking financing Seeking projects/ businesses
The Missing Middle:Lack of Access to Financing
PUSH
Coaching andmentoring
businesses
Clean energy businessesand ro ects
InvestmentSources R
The Challenge
Training andAdvisory toFinancial
Institutions
PUSH
Policy Dialogue
PUSHGovernment (policies)
Required: Network, network, network Market knowledge Technical knowledge
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CTI PFAN: A Multilateral Initiative
CTI PFAN Funding Partners
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Asia Forum for Clean Energy Financing, Bangkok: March 2009,March 2010
Philippines Clean Energy Investor Forum: June 2009, June and Nov2010 Indonesia Clean Energy Investor Forum: June 2009 and July 2010 China Clean Energy Investor Forum: October 2009 and September
2010
PFAN Modus Operandi: Clean
Energy Financing Investor Forums
India Clean Energy Investor Forum: October 2010
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33 partnerships fostered during 2009-2011
80 + Projects in development pipeline, with investment value of USD 1.4 billion
21 projects secured financial closure with investment of USD 274.6 million
Asian Regional Highlight
USD 200 300 million: target leverage
Dedicated Country Networks
India China Philippines Indonesia
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21 projects -- 138 MW -- $274.6 million -- 12.2 m tons CO2
Summary of PFAN Results(Apr 2009 May 2011)
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PROJECTS PER COUNTRY
Cambodia 1China 7
India 2
Indonesia 4
Philippines 6
INVESTMENT BY CUNTRY
Cambodia 2.5
Breakdown of PFAN Projects
Thailand 1
TOTAL 21
TECHNOLOGY DISTRIBUTION
Biogas 6
Biomass 5Hydro 3
Energy Efficiency 5
Clean Transport 1
Solar PV 1
TOTAL 21
.
India 9.2
Indonesia 88.2
Philippines 123.13
Thailand 10
TOTAL 247.6
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PFAN in Indonesia
PFAN Investor Forum:Coaching, mentoring, matchmaking and
holding Investor Forum in business plancompetition format
PFAN Bank Mentoring Program:
Training and advisory services forpartner banks on clean energy projects
New strategy: two targets for PFAN assistance, i.e. working with project
partners and potential lenders in closing financing transaction
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Project Partners from Indonesia CE InvestorForum 2009 and 2010
Project Type Location Size (MW) Investment
(US$ million)
Banten Global Synergy Geothermal Banten 110 275
Tiara Energy (BSP) Biomass (rice husk) South Sulawesi 10 24
Wirajasa IPP Biomass East Java 7 21.7
Sarana Citra Persada (pilot project) Wind 6
Narpati Waste to fertilizer Central Java 250 tons/day 8
Gikoko Landfill West Java 4 10
connecting clean energy businesses with financing
e an a e r a gra n es ava .
Selo Kencana Energi (Lubuk Gadang) Hydro West Sumatera 7.5 12
Mitra Edssa Markati Geothermal East Java 10 20
Erasia Global (Pasui) Hydro South Sulawesi 2 3.7
Eco Power Indonesia (Sawangan) Hydro North Sulawesi 16 28
Indonesia Clean Energy (Dominanga) Hydro North Sulawesi 3.6 6.6
Restu Bumi Persada (Bintang Bano) Hydro West Nusa Tenggara 8.8 12
Kutilang Bangun Persada (Northsum) Hydro North Sumatera 6 15.6
Pasadena Biofuels Mandiri Wood pellets West Java 50 tons/day 1
Indonesia Clean Energy Biomass Jambi 8 15.5
Bakrie Power (Sokoria) Geothermal East Nusa Tenggara 30 127
Total 237.9 607.6
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Project Closures
Growth SumateraIndustries
Medan Biomass PowerPlant
(2 x 15 MW)
Kencana Agri Group
Pakkat Minihydro PowerPlant (10 MW)
IDR 192 010 000 000
Selo Kencana Energi
Lubuk Gadang MinihydroPower Plant (7.5 MW)
Growth Asia
Medan Biomass PowerPlant
(2 x 15 MW)
IDI
connecting clean energy businesses with financing
IDR 203,000,000,000
Equity and Loan Financing
Lender and Shareholder
October 2010
Equity and Loan Financing
Lender and Shareholder
December 2010
IDR 159,000,000,000
Equity, Mezzanine, andLoan Financing
Lender and Shareholder
April 2011
IDR 219,000,000,000
Equity and Loan Financing
Lender and Shareholder
May 2011
Three projects closings through our work with bank partners One project closing through our work with project partner Total 77.5 MW, Rp 773 billion (US$ 88.2 million), and
annual GHG savings of 281,700 ton/year
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Lessons Learned
Financing Barriers:
Lack of experience/trust among financiers and/or investors
Entrepreneur: Lack of banking relationships/experience
Entrepreneur: Lack of business track record
connecting clean energy businesses with financing
Investor/bank: Lack of investment experience
Mismatch between the available financing vehicle and projectfinancing requirement
Most debt financing is corporate finance loan
Lack of risk capital (equity/mezzanine/public fund) High cost of capital
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Lessons Learned
Project Entrepreneur:
Help entrepreneur do their homework: But to what extent? Assist withproject conception, pre-FS/FS, project structuring, PPA, for improving
project readiness
Help entrepreneur understand financing structure, for creating viable andbankable business proposal
Investor:
connecting clean energy businesses with financing
Seek investor with commitment, business track record, and own-money toinvest.
Create innovative financing vehicle that match project need
Bank:
Work with the regulator (Bank Indonesia) for the issuance of clean-energyfriendly banking policy, encouraging banks to finance
Provide banks with comprehensive assistance (at various stages of projectdevelopment)
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Lesson Learned: Match Financing
with Stage of Technology Maturity
connecting clean energy businesses with financing
Pilot
technologyproject
Biogas, POME,landfill, wind
Minihydro,direct burning
biiomass
Source: UNEP SEFI, 2008), and own analysis
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PFAN Matchmaking and Bank Partnershipsfor Clean Energy Financing in Indonesia:
Summary of Lessons Learned
connecting clean energy businesses with financing
Irman BoyleUSAID Contractor
Country Manager for Indonesia
ECO-Asia Clean Development and Climate [email protected]
Asia Clean Forum 2011Manila, June 20-24, 2011