Synergy scores a brace, again!
We are delighted to announce that Synergy has won two “Deal of the Year” Awards from PFI🏆 matching our record we set last year. We are honored and humbled to be consistently ranked among the best firms in the global Financial Advisory space.
Synergy thanks PFI for these prestigious awards.
We thank and hold immense gratitude for all our clients, sponsors, lenders, legal and technical advisory partners, and all other stakeholders in these Projects, for bestowing trust in us and working constructively together towards our shared goals. These awards amplify what we do, who we are and where we are going.
We are immensely grateful to Synergy Team members for exemplifying the highest working standards and ethics despite the struggles and personal sacrifices borne by many due to the continuing global health crisis.
Synergy acted as the Financial Advisor for the following two award winning Projects:
1. Cirata Floating PV Project (Asia-Pacific Solar Deal of the Year): the largest floating PV in Southeast Asia, and one of the largest in the world. Synergy acted as 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.
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.
2. REPDO Rd 2 Projects (Middle-East & Africa ESG Platform Deal of the Year): Synergy provided complete Financial Advisory Services to the Consortium of Masdar, EDF Renewables and Nesma Company, including negotiating Project agreements, supporting Consortium in commercial negotiations with the offtaker, raising financing for the Project, financing document negotiation and other related work streams.
Under the Round 2 Category B tender, REPDO tendered four solar PV IPPs with an aggregate capacity of 1.4GW. The Consortium submitted competitive bids for all four IPPs under this tender, and was selected as the preferred bidder for the Jeddah Project, in accordance with the tendering guidelines. The Project successfully achieved FC on April 8th, 2021, and is financed by a mix of regional and international lenders. Once operational, the Project will help bring KSA one step closer to achieving its ambitious renewable energy generation goal set under KSA’s ‘Vision 2030’ of producing 50% of its electricity from renewable sources by 2030