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.
Country updates
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August 04, 2021
Financial close achieved for 145 MW Floating solar plant in Indonesia
Masdar, and PT PJBI, a subsidiary of Indonesia’s state-owned electricity company PT PLN, announced that financial close has been achieved on the Cirata Floating Photovoltaic Power Plant project...
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July 22, 2021
MOU signed for world's largest 2.2 GW floating solar and energy storage system in Indonesia
Sunseap Group and Badan Pengusahaan Batam (BP Batam) have signed a Memorandum of Understanding (MOU) for the building of a floating photovoltaic system (FPV) and energy storage system (ESS) on a reser...
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January 21, 2020
Masdar, PLN sign PPA deal for 145 MW floating solar project in West Java
Abu Dhabi Future Energy Company PJSC, also known as Masdar, has signed a power purchase agreement (PPA) with the Indonesian state-owned power utility Perusahaan Listrik Negara (PLN) for the energ...
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October 30, 2019
Fortum Power, jakpro signs PPA for 35 MW Sunter waste-to-energy project in Jakarta
Fortum Power and Heat Oy has signed a power purchase agreement (PPA) for a US$360 million waste-to-energy plant in Sunter, near Jakarta. Fortum and city-owned PT Jakarta Propertindo (Jakpro) have for...
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September 18, 2019
Doosan Heavy Industries & Construction selected to supply turbine to 110 MW Palu 3 thermal power plant in Indonesia
Perusahaan Listrik Negara (PLN) has awarded the contract to supply circulating fluidized bed (CFB) boilers and turbines for the 110MW Palu 3 coal-fired power plant on Sulawesi island to South Korea&rs...
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