The financing will underpin network investment and hydro power upgrades.
PPL Acting Managing Director, Carolyn Blacklock, announced this during the PNG Investment Conference in Brisbane recently.
During her presentation, Blacklock announced the current plans with the ADB.
Blacklock said PPL has bold and aggressive plans that are focused on two areas:
- Reduce tariff to around half of current levels, in the next 5 to 10 years;
- Increase electrification to around 70 percent of population.
To achieve this, a new business model is needed.