19 Mar 2015
ABNR wins IFLR Asia “Project Finance Deal of the Year” Award

Ali Budiardjo, Nugroho, Reksodiputro (ABNR) acted as counsel to lenders in the financing of Sarulla project, which International Financial Law Review (IFLR) announced as “Project Finance Deal of the Year” during the IFLR Asia Awards ceremony in Hong Kong that took place on March 11, 2015.


ABNR advised Asian Development Bank (ADB), Japan Bank for International Cooperation (JBIC), and six commercial banks in the US$1.17 billion financing of the 330 MW geothermal power plant in Sarulla, North Sumatera, Indonesia. The sponsors of the project are PT Medco Power Indonesia, ITOCHU Corporation, Kyushu Electric Power and Ormat Technologies, Inc. This marks the financing of the biggest geothermal power project in Indonesia.

The ABNR team was lead by Partners Emir Nurmansyah & Herry Kurniawan.