GCL Energy Technology Co., Ltd. recently announced that its wholly-owned subsidiary, Usual Win Limited, plans to provide subordinated loans totaling no more than USD 36 million to two indirectly held Indonesian companies—PT Hijaunesia GCL Banyuwangi and PT Hijaunesia GCL Gajah Mungkur—specifically to support the construction and operation of two major solar PV projects.
It is reported that earlier, GCL Intelligent Energy (Suzhou) Co., Ltd., a subsidiary of GCL Energy Technology, had officially signed Power Purchase Agreements (PPA) with Indonesia's state electricity company, PLN, for the above two solar PV projects. These two projects are the Banyuwangi 100MW Ground-Mounted Solar PV Project and the Gajah Mungkur 100MW Floating Solar PV Project. The signing of the PPA agreements has locked in long-term returns for the projects in advance, building a win-win bridge for cooperation between the two parties and laying a foundation for project advancement.
As Indonesia's sole national-level power enterprise, PLN is responsible for the core functions of nationwide power procurement, supply, and dispatch. Its indirectly held subsidiary, PT PLN Indonesia Power Renewables (holding 51% shares), is the core shareholder of these two solar PV projects. The deep cooperation between the two parties ensures the compliance and stability of the projects.
A representative of GCL Energy Technology stated that the company will fully leverage Indonesia's abundant new energy resources and vast electricity market advantages, combined with its extensive experience in integrated energy services and industrial investment, to further deepen cooperation with PLN. In the future, the two parties will explore multiple cooperation directions, including green power direct supply to data centers, integrated configuration of source-grid-load-storage, and low-carbon computing infrastructure construction, creating a new collaborative development model of "clean energy + digital infrastructure" to help Indonesia achieve the dual empowerment of energy transition and digital economy upgrade, promoting win-win development for both parties.
The provision of this subordinated loan is an important measure for GCL Energy Technology to expand into Indonesia's new energy market and advance project implementation, also marking a key step in its layout in Southeast Asia's core electricity market.
GCL Energy Technology Co., Ltd. recently announced that its wholly-owned subsidiary, Usual Win Limited, plans to provide subordinated loans totaling no more than USD 36 million to two indirectly held Indonesian companies—PT Hijaunesia GCL Banyuwangi and PT Hijaunesia GCL Gajah Mungkur—specifically to support the construction and operation of two major solar PV projects.
It is reported that earlier, GCL Intelligent Energy (Suzhou) Co., Ltd., a subsidiary of GCL Energy Technology, had officially signed Power Purchase Agreements (PPA) with Indonesia's state electricity company, PLN, for the above two solar PV projects. These two projects are the Banyuwangi 100MW Ground-Mounted Solar PV Project and the Gajah Mungkur 100MW Floating Solar PV Project. The signing of the PPA agreements has locked in long-term returns for the projects in advance, building a win-win bridge for cooperation between the two parties and laying a foundation for project advancement.
As Indonesia's sole national-level power enterprise, PLN is responsible for the core functions of nationwide power procurement, supply, and dispatch. Its indirectly held subsidiary, PT PLN Indonesia Power Renewables (holding 51% shares), is the core shareholder of these two solar PV projects. The deep cooperation between the two parties ensures the compliance and stability of the projects.
A representative of GCL Energy Technology stated that the company will fully leverage Indonesia's abundant new energy resources and vast electricity market advantages, combined with its extensive experience in integrated energy services and industrial investment, to further deepen cooperation with PLN. In the future, the two parties will explore multiple cooperation directions, including green power direct supply to data centers, integrated configuration of source-grid-load-storage, and low-carbon computing infrastructure construction, creating a new collaborative development model of "clean energy + digital infrastructure" to help Indonesia achieve the dual empowerment of energy transition and digital economy upgrade, promoting win-win development for both parties.
The provision of this subordinated loan is an important measure for GCL Energy Technology to expand into Indonesia's new energy market and advance project implementation, also marking a key step in its layout in Southeast Asia's core electricity market.