Quick Facts

Where the impacts of the investment may be experienced.
  • Indonesia
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-07-27
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: UPC Renewables Asia
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Type(s): Equity, Loan
The categories of the bank investment: loan, grant, etc.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-10-04
UPC Renewables Asia I Limited

Project Description
UPC Renewables Asia I Ltd is part of the UPC Group, which since 1995 has developed, financed and installed over 1,000 utility-scale wind turbine generators all over the world. Total global development rights on sites held by UPC would provide, once built, over 16,000 MW of wind energy. FMO will provide a subordinated loan in combination with equity in order to enable UPC to develop a series of wind energy projects in Indonesia. Currently there are 400-500MW worth of projects in the deal pipeline. This project has high development impact as it will provide renewable energy capacity to a country partly dependent on fossil fuels and a rising energy demand. Through this investment FMO contributes to the diversification of Indonesia's energy mix and aims to pave the way for future financiers in this sector.
Investment Description