DBS Bank and Sumitomo Mitsui Banking Corporation ( SMBC ) have lent US$121 million for the capacity expansion of the Wayang Windu, Salak, and Darajat geothermal projects in Indonesia. Milbank advised the lenders.

The borrowers are three subsidiaries of Star Energy Geothermal, which is a leading geothermal energy producer in Indonesia and a subsidiary of Barito Renewables Energy, one of the biggest publicly listed renewable energy companies in the country.

The green loans have a five-year tenor.

The expansion of Wayang Windu includes the retrofitting of two existing geothermal units for an additional 18.4 megawatts and the construction of a third unit for an additional 30MW. The expansion of Salak and Darajat includes the retrofitting of Darajat’s existing Unit 3 for an additional 7MW, and the construction of a new Salak Unit 7 geothermal unit for an additional 40MW.

Salak in West Java is the country’s largest producing geothermal field.