FinanceAsia Japan Achievement Awards 2014/2015
Societe Generale wins the the “Best Project Financing in Asia” in FinanceAsia Japan Achievement Awards 2014/2015 for the Sarulla deal in Northern Sumatra, Indonesia.
Societe Generale Corporate & Investment Banking acted as Mandated Lead Arranger, Technical Bank and Hedge Provider for the USD 1.17 billon senior project financing of the Sarulla Geothermal Project
(“Sarulla”) in North Sumatra, Indonesia. Sarulla deal wins the “Best Project Financing in Asia” in FinanceAsia Japan Achievement Awards 2014/2015.
Sarulla will be the world’s largest “greenfield” geothermal power generation project and involves the construction of a 351 gross megawatt geothermal power station, commercial production of which is expected to begin in 2016. Project completion is scheduled for 2018.
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.