Project Finance Deal of the Year in ALB Indonesia Law Awards 2021 and SE Asia Law Awards 2021, and Winner of APAC Deal Awards category Power – Coal-Fired by IJ Global Awards
The best ideas weave art and logic together. That is why one cannot simply breathe life into great legal ideas without mastering the basics and nurturing an imaginative mind full with unlimited possibilities. These are the crucial virtues that we demand from each of our lawyers and the best way to display those qualities is of course letting the awards speak for themselves.
As such, we are pleased to announce that our deal, the US$ 2.7bn project financing for 2,000MW Jawa 9-10 Power Project, the largest project financing transaction in Indonesia in 2020, has been awarded as the Project Finance Deal of the Year in ALB Indonesia Law Awards 2021 and SE Asia Law Awards 2021, and Winner of APAC Deal Awards category Power by IJ Global Awards. Three in a row!
These awards are a tribute to the outstanding performance of private practitioners in Indonesia, Southeast Asia, and around the region, recognizing best-in-class transactions across the local and international infrastructure and energy sectors. They also remark our successive journey since 2019 in managing large project finance deals in Indonesia that also won multiple prestigious awards, including Jimbaran-Tiung Biru (JTB) Gas Field Financing, the Indonesian largest project financing transaction closed in 2019 with a complex layer of financing scheme that involves hybrid conventional and Shari’a financing scheme.
Not many law firms can be involved as leading counsel in two of the biggest deals of the year, twice in a row, and especially not a firm as young as us. We truly appreciate the trust given to us by our clients in running these deals, solving all the complex bottlenecks, and convincing numerous stakeholders that even in the face of impossibility, there is always a way out. After all, we do not want to simply adhere to old precedents, we are here to make new ones! And in our case, the structure that we developed for the Jawa 9-10 Project became the foundation of the project financing structure for the largest Indonesian floating solar PV project in 2021 where we were also involved.
Congratulations again to all the parties involved!