09 Nov 2020

Development of power plant by PT Indo Raya Tenaga

Partner Kanya Satwika from Assegaf Hamzah & Partners acted as Indonesian counsel to the lenders led by Korean-ECA in providing a USD 2.568 billion limited recourse project financing facility to PT Indo Raya Tenaga, a joint venture of PT Indonesia Power, a subsidiary of PT PLN (Persero), and PT Barito Pacific Tbk., for the development and construction of the 2 x 1,000 MW Jawa 8 & 9 ultra-supercritical coal-fired power plant in Banten, Indonesia. The financial close was successfully reached on 5 November 2020.