APAC: MUFG to advise on East Java power project

25 June 2018 - 12:00 am UTC

Marubeni has appointed MUFG Bank to advise on non-recourse debt financing for the 800 MW Java 3 natural gas-fired power project in Indonesia, according to market sources.

Marubeni recently won a tender to build and own a minority stake in the Java 3 project alongside PLN, Indonesia’s state electricity company.

PLN requires that one of its major generating subsidiaries, PT Pembangkitan Jawa-Bali (PJB) or PT Indonesia Power (IP), hold 51% of new projects.

PJB is the majority partner in Java 3.

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