PTBA - USD2.17 bn loan boosts 2x660 MW power plant

PTBA - USD2.17 bn loan boosts 2x660 MW power plant Bukit Asam (PTBA), through its subsidiary Huadian Bukit Asam Power (HBAP), has secured an investment loan of USD1.27 bn from BMRI. The funds will be allocated for refinancing and enhancing the operations of HBAP, specifically at the Sumsel-8 coal-fired power plant in South Sumatra, which has a capacity of 2x660 MW. (Source: Company) Comment: PTBA's USD 1.27bn loan strengthens Sumsel-8 operations, which contributed ~8.6% of net profit in 1H24. The refinancing improves cash flow, but energy transition risks remain.