Ashurst advises the first solar projects in Indonesia financed on a commercial basis
16 July 2021
Quantum and Sambelia are part of the first wave of utility-scale solar projects in Indonesia launched in 2017 and support PLN (the national utility) and the Government of Indonesia's strategy to boost the share of renewables in the energy mix and reduce reliance on diesel and coal power generation, which has recently been supplemented by a target to achieve carbon neutrality by 2060. These projects also represent the first ever solar projects in Indonesia financed solely by an international commercial bank.
Ashurst advised on the full range of financing documents, project documents and regulatory matters and advising Société Générale on all matters of English, Singapore and Indonesian law.
The Quantum and Sambelia projects have recently been awarded "Renewable energy deal of the year (Solar)" by The Asset Asean Infrastructure Awards 2021.
The Ashurst team comprised of a joint team with OSP (Ashurst's Jakarta associated office) and ADTLaw (Ashurst's Singapore law FLA), led by partners Frederic Draps and Alfred Ng, supported by Michelle Phang, Rizaldy Tauhid, Vanessa Teo, Khairunissa Yuliandhini and Timothy Lim.
