17 January 2017
Clifford Chance advises Nebras Power on 35.5% acquisition of Indonesia's largest Independent Power Provider
Jakarta: Leading international law firm Clifford Chance, through its associated office in Jakarta, Linda Widyati & Partners (LWP), has advised Qatar-based energy company Nebras Power Q.S.C on the acquisition from Engie of 35.5% in PT Paiton Energy, Indonesia's largest Independent Power Provider (IPP).
Paiton has more than 2000MW installed capacity, which represents 4% of Indonesia's installed capacity. Clifford Chance also advised on the acquisition of a stake in the Operations & Maintenance company that runs Paiton.
The deal is one of the largest M&A deals in the market and was led by Jakarta-based partners Jeroen Koster and Arisia Pusponegoro, assisted by a cross-border team comprising foreign counsel Gerrit Jan Kleute, senior associates Eko Prasetio, Dede Fikry, trainees Adhitya Ramadhan, Indy Djalal and Ario Pamungkas in Jakarta, senior associate Danielle Delbridge and associate Per Lindberg in Singapore, as well as team members from Amsterdam, New York, Doha and Dubai.
Jeroen offers, "This landmark deal demonstrates our significant cross border M&A capability in Indonesia, which is unique in the market. We worked closely with Nebras' General Counsel, Marco Faldella, and it is very pleasing to receive such incredibly positive feedback, in particular the 'significant added value' we delivered to Nebras. I'm very proud of our team.”
The deal further cements Clifford Chance's position as a leading adviser in the energy sector, including in South East Asia. The firm recently advised a consortium on the entry into binding agreements to acquire global energy provider Chevron's geothermal operations in Indonesia and the Philippines (press release here).