Synergy Consulting is honored to be the Financial Advisor to Masdar on the Cirata Floating PV project, the largest floating PV in Southeast Asia, and one of the largest in the world. Synergy was the sole Financial Advisor to Masdar, and led the preparation of the financial model, coordination with lenders and Sponsors’ advisors, managed the interest rate swap placement process, and supported on other related work streams.
Masdar and PJBI signed a power purchase agreement with PLN to design, finance, construct, own, operate and transfer a floating Solar PV IPP, with an installed capacity 145 MWac, located in the West Java Province, Indonesia.
The Project achieved Financial Close on August 3rd, 2021, and has been financed by Sumitomo Mitsui Banking Corporation, Societe Generale, and Standard Chartered Bank. Commercial operations of the Project are expected to commence in Q4, 2022. Once operational, the Project will go a long way towards helping Indonesia achieve its target of renewables producing 23 percent of its energy supply by 2025, under its Electricity Infrastructure Acceleration Programme.
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