07 Jan 2014
BANTEN IPP - PFI POWER DEAL OF THE YEAR
We are pleased to announce that “Banten IPP” deal has been awarded the “PFI Power Deal of the Year” for Asia Pacific. The PFI (Project Finance International) Awards honour achievement in the global project finance market and are celebrated at the annual PFI Awards Dinner, which will be held on February 5 2014 at The Hilton, Park Lane, London
ABNR represented lenders in the financing of the first major IPP that does not have a guarantee from the Indonesian government. Banten IPP in West Java total project cost is US$998m and the debt amount is US$730m. The project was awarded to Genting, a listed company on the Kuala Lumpur Exchange and also involved a Chinese EPC contractor (Harbin) and saw parties working across five jurisdictions to complete an international standard project financing. If the project proceeds smoothly, it can become a model for future IPPs in Indonesia without government support, and this may change the way financing is raised in the country. For more information about the project, please visit PFI’s website here.