Wind Power Energy by UPC Renewables

This USD 150 million project is Indonesia's first utility-scale wind farm project to achieve financial close. The Sidrap project is being funded through equity provided by UPC Renewables and AC Energy Holdings, and project financing provided by the Overseas Private Investment Corporation, the US governments development finance institution, and PT Bank Sumitomo Mitsui Indonesia, the Indonesian subsidiary of the Sumitomo Mitsui Banking Corporation of Japan.UPC Renewables is a leading global energy player that develops, finances, constructs, owns and operates a portfolio of wind power generation assets. The company and its proponents have successfully developed and operated renewable energy projects in Italy, the USA, Canada, China and the Philippines. AC Energy is a wholly owned, energy-focused holding company of Ayala Corporation, with investments in solar, wind, hydro and conventional energy sources.Brian Caffyn, CEO of UPC Renewables commented: UPC has been the pioneer of wind power projects in Indonesia, with our Sidrap project being the first project-financed wind project in the country. We wanted a firm which was at the forefront of power sector development and financing in Indonesia, and that had good local relationship with the key government stakeholders. Baker McKenzie was the obvious choice. At its peak, the project development and financing work required legal input from counsel in Indonesia, Hong Kong, Singapore, New York and the Netherlands. To be able to have a single law firm to provide a seamless offering was a key part of moving to a successful financial close.http://www.upcrenewables.com/indonesia/company/leadership-team/