Clifford Chance has advised Barito Renewables Energy and its subsidiary on the international aspects of acquiring five wind farm assets in Indonesia from UPC Renewables Asia Pacific Holdings for an undisclosed amount.
Subsidiary Barito Wind Energy will fully acquire Indonesia’s first and largest wind farm, the 75MW Sidrap 1, operated by Sidrap Bayu Energi, and Operation and Maintenance Indonesia (OMI), which supports Sidrap 1’s operations.
The transaction also involves Barito Wind acquiring 51% of three development-stage wind assets with a combined potential capacity of 320MW located in South Sulawesi (Sidrap 2), Sukabumi and Lombok. ACEN Renewables International, through its subsidiary ACEN Investments HK, acquired the remaining 49%.
Melissa Ng, lead partner at Clifford Chance, said: “It’s a privilege to advise Barito Renewables on this landmark transaction, which will contribute to the acceleration of Indonesia’s energy transition and development of renewables. The complexity of this transaction, involving long-term partnerships, underscores the value of our deep sector expertise and understanding of Southeast Asia. We’re honoured to play a part in Indonesia’s journey towards net zero emissions.”
The legal team includes counsel Stephanie Juwita Liman, associate Christie Long and trainee Jacie Lim. Assegaf Hamzah & Partners advised on the Indonesian law aspects of the transaction.
Barito Renewables, a prominent player in Indonesia’s renewable energy sector and part of the Barito Pacific Group, owns the Star Energy Geothermal Group, the country’s largest such producer.