PT Akuo Energy Indonesia’s Joint Venture With Copenhagen Infrastructure Partners

Herbert Smith Freehills advised PT Akuo Energy Indonesia on the deal. Baker McKenzie advised Copenhagen Infrastructure Partners on the deal.

PT Akuo Energy Indonesia, a subsidiary of the Akuo group (“Akuo”), a leading independent global renewable energy power producer and developer, entered into a joint venture with Copenhagen Infrastructure Partners (CIP), amongst the largest renewable energy focused fund managers globally, through Copenhagen Infrastructure New Markets Fund I (“CI NMF”). 
Under the joint venture, CI NMF and Akuo will jointly develop an initial portfolio exceeding 400 MW of onshore wind, solar and run of river hydro projects in Indonesia, with a potential for future expansion. This transaction marks CI NMF’s first investment in the Indonesian renewable energy market and a key milestone in the partnership between Akuo and CIP. This pipeline of 400 MW equals approximately 4.5% of the additional capacity required for Indonesia to reach its target of 23% renewable energy by 2025.

Herbert Smith Freehills Paris has advised PT Akuo Energy Indonesia with a team led by partner Frédéric Bouvet (Picture) and of counsel Cyril Boulignat on corporate aspects. They were supported by partner Irina Akentjeva from the Singapore office and associate Jen Ru Wong from the Kuala Lumpur office.

The Baker McKenzie team included Norman Bissett, Nadia Soraya, Fanny Kurniawan, Ibnu Hasan, Tesalonika Barus, Bonfilio Sebayang, Marcia Tanudjaja, Meyliana Santy and Adella Kristi (from HHP), Kim Hock Ang, Andrew Zaw, Aaron Jones and Satta Chairasmisak (from BMWL) and Kim Tan and Charlotte van Rhee (from Amsterdam).

Involved fees earner: Tesalonika Barus – Baker McKenzie; Norman Bissett – Baker McKenzie; Satta Chairasmisak – Baker McKenzie; Ibnu Hasan – Baker McKenzie; Kim Hock Ang – Baker McKenzie; Aaron Jones – Baker McKenzie; Adella Kristi – Baker McKenzie; Fanny Kurniawan – Baker McKenzie; Bonfilio Sebayang – Baker McKenzie; Nadia Soraya – Baker McKenzie; Kim Tan – Baker McKenzie; Marcia Tanudjaja – Baker McKenzie; Charlotte van Rhee – Baker McKenzie; Andrew Zaw – Baker McKenzie; Irina Akentjeva – Herbert Smith Freehills; Cyril Boulignat – Herbert Smith Freehills; Frédéric Bouvet – Herbert Smith Freehills; Jen Ru Wong – Herbert Smith Freehills;

Law Firms: Baker McKenzie; Herbert Smith Freehills;

Clients: Copenhagen Infrastructure Partners; PT Akuo Energy Indonesia;

Giulia Di Palma

Author: Giulia Di Palma