Star Energy Geothermal, the largest geothermal company in Indonesia, is set to issue two green bonds valued at $1.1 billion.
The first green bond is worth $320 million and is set to mature in eight years; the second is valued at $790 million and is set to mature in 18 years, according to Think Geoenergy.
If successful, this issuance will be the first investment-grade green bonds produced by the private sector in Indonesia.
According to Think Geoenergy, the funds will be used to pay off debts, capital expenditures, working capital and other needs related to geothermal operations at the plants of Darajat and Salak in Indonesia. Star Energy has the exclusive right to explore, develop and utilize geothermal energy in these plants, which have a combined electrical capacity of 647.8-megawatts.
Global Capital Asia reports Star Energy already has experienced strong investor demand for the issuance.
This is the third green bond fr
