Tuesday, August 19, 2014

Indonesia:

Societe Generale Arranges US$1.17b for Sarulla Geothermal Project (The Star Online)

Societe Generale Corporate & Investment Banking (SG CIB) has closed the US$1.17bil senior project financing for the massive Sarulla geothermal project in northern Sumatra, Indonesia.

When completed in 2018, the Sarulla geothermal power plant would be the world's largest “greenfield” geothermal power generation project.

The project involves building a 351 gross megawatt geothermal power station, commercial production of which is expected to begin in 2016.

SG CIB served as the "technical bank," coordinating both reserves and technical consultants and conducting due diligence. The bank also played a critical role in structuring the deal. The transaction achieved financial close in May 2014.

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