JAKARTA. PT Arkora Hydro Tbk (ARKO), a holding company engaged in the renewable energy sector, has obtained a loan facility worth IDR 223 billion for the establishment of Tomoni Hydropower Plant.

Said loan facility agreement had been signed by PT Arkora Hydro Malili (HAM), ARKO’s subsidiary, and PT Sarana Multi Infrastruktur (SMI) on August 15, 2024.

Aldo Artoko, President Director of ARKO, mentioned that the progress of the construction of Tomony Hydropower Plant has reached 6.6% in July 2024. “The Commercial Operation Date (COD) is projected to take place in the second quarter of 2026,” he added.

For the record, Tomony Hydropower Plant will be equipped with a total capacity of 10 megawatts (MW) and will be the fifth hydropower plant owned by the company. It is projected to contribute roughly 22.1% of total power generated by the company.

ARKO itself had signed a power purchase agreement (PPA) for Tomoni project with PT PLN back in December 2023. With this credit facility from SMI, the company expects to gain support for its long-term business expansion. (KR/ZH)