CIP New Market Fund I enters renewable energy market in Indonesia after closing of "Project Batavia"

CIP New Market Fund I, a renewable infrastructure fund of Copenhagen Infrastructure Partners (CIP), has entered into a joint venture with the Indonesian affiliate of French Akuo Energy to develop, build and operate an initial 400 MW "Project Batavia", a pipeline of onshore wind, solar and run-of-the-river hydro projects in Indonesia.

CIP’s first investment in the Indonesia renewable energy market comes in anticipation of the publication of a revised national electricity supply plan (known as RUPTL, its Indonesian acronym) for 2021-2030. The plan is expected to increase the proportion of renewable power to 30% of electricity generation in 2030.

Astris Finance acted as exclusive financial advisor to CIP during the privately negotiated M&A process and involved Astris teams in Singapore, Jakarta, HCMC, and Paris.