Perusahaan Listrik Negara (PLN) has selected Australia and New Zealand Banking Group (ANZ) to aid the development of three large-scale hydropower plants in Indonesia.
The state-owned electricity distributor has chosen the group as financial consultant for the 510 MW Batang Toru plant in North Sumatra, the 450MW Karama hydropower plant in West Sulawesi, and the 350MW Merangin hydropower plant in Jambi, REPORTS Energy Business Review.
The Batang Toru and Karama projects are estimated to cost $1.2bn each and the Merangin plant requires an investment of $510m.
All three projects will be developed under public-private partnership schemes, reported Jakarta Globe.
All hydroelectric plants are projected to begin operations in 2018.
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