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    Ari Bessendorf

    Partner

    Singapore

    Ari’s practice is focused on the finance and construction of projects in Indonesia and across Southeast Asia. He advises clients on finance agreements, offtake contracts and construction agreements, including numerous “first of a kind” transactions.

    Ari’s practice cuts across sectors, including conventional power, renewable energy (solar, wind, geothermal, hydroelectric), infrastructure, oil & gas and mining throughout the United States and Asia. His combination of project development and finance experience allows him to advise clients on bankability considerations for development matters.

    Clients commend him for being “meticulous on the finer details”, and “a firm but calming and amiable presence at the negotiating table.” They add that “he gained our trust” and has “a cost-effective approach and a drive to successfully close deals.”

    • Development and Construction

      • Sime Darby Property Bhd in connection with an Agreement to Build and Lease (ATBL) with a subsidiary of Google in the development of a 200 MW capacity data center located in the Elmina Business Park in Kuala Lumpur, Malaysia.
      • EdgeConneX on the development, construction and financing of a 120 MW hyperscale campus located in Jakarta, Indonesia.
      • PT Sumbawa Jutaraya as owner on the supply and construction contracts for the Pangulir metal processing project located in Sumbawa, West Nusa Tenggara, Indonesia.
      • PT Petrosea Tbk as EPC contractor for the Awak Mas gold mining project located in South Sulawesi, Indonesia, including vendor financing, a FEED agreement, and Head of Agreement (HoA) of an EPC agreement.
      • PT Medco Power Indonesia in negotiating the Terminal Use Agreement and EPC agreement for an LNG terminal regasification facility in connection with a smelter project located in Sumbawa, West Nusa Tenggara, Indonesia.
      • PT Ormat Geothermal Indonesia on its bid for several geothermal projects in connection with a Geothermal Exploration and Energy Conversion Agreement (GEECA).
      • RE Energy Company Limited on a behind-the-meter PPA with Toyota for a floating solar project located in Bangkok, Thailand.
      • International Container Terminal Services on drafting a construction contract.
      • Plastic Energy on due diligence of a project company with a concession for waste processing in West Java, Indonesia.
      • An international infrastructure developer on the drafting of a construction contract for a 65MW hydropower project on the Endikat River in South Sumatera, Indonesia.
      • A Japanese trading house on the proposed acquisition of several mini-hydro IPP projects located in Sumatera, Indonesia.

      Finance

      • The mandated lead arrangers on the financing of the 145MW Cirata floating solar PV project.
      • The Asian Development Bank on the project financing of a 36,000 tons per year PET waste recycling plant located in the Kendal Industrial Park in Central Java, Indonesia.
      • The lenders on a USD 350 million club deal financing for PT Solusi Tunas Pratama, an Indonesian telecommunications provider.
      • The China Development Bank on the financing of a 2x200 coal fired IPP located in Nagan Raya, Aceh Province, Indonesia.
      • The lenders and ECAs (including JBIC, ADB, and NEXI) on the 2x800 Jawa 1 FSRU and gas fired combined cycle IPP located in West Java, Indonesia.
      • The lenders and ECAs (including US-EXIM, SACE, EXIM, and K-SURE) on the financing for the Balikpapan refinery project located in East Kalimantan, Indonesia.
      • A Japanese financial institution on the development and financing of the Legok Nangka waste-to-energy PPP project (with a waste handling capacity of 1,000 tons per day and peak power output of 16MW) located in West Java, Indonesia.
      • PT Pertamina International Shipping as borrower on a USD 185 million corporate loan.
      • PT Pertamina International Shipping a USD 25 million term loan to two subsidiaries in connection with the prior acquisition of two shipping vessels.
      • Corbin Capital Partners in its participation in a loan facility provided to PT Energi Mega Persada, an Indonesian upstream oil and gas company.
      • PT Profesional Telekomunikasi Indonesia on an ISDA master agreement for interest rate and FX hedging.
      • Bank of China on a IDR 875 billion term loan and USD 60 million revolving credit facility to PT Profesional Telekomunikasi Indonesia.
      • Indika Energy on the increase in its equity participation in the Awak Mas gold mining project located in South Sulawesi, Indonesia.

      Carbon and Regulatory Advice

      • The Rocky Mountain Institute (RMI), a US-based environmental think tank, on the structuring and regulatory aspects of reducing emissions from coal-fired power plants in Indonesia.
      • The World Bank on regulatory advice in relation to the Indonesian carbon trading market.
      • A National Oil Company on the regulatory and contractual aspects of carbon capture, storage, and use in Indonesia.
      • An ECA on the feasibility study for a planned hydropower project located in North Sumatera, Indonesia.
      • D&E Green Enterprises on the sale of CDM credits to Enel Trade SPA from a consumer based clean cooking stove project in Port-au-Prince, Haiti.
      • The US National Renewable Energy Laboratory Solar Access to Public Capital (SAPC) on the drafting and development of a form power purchase agreement/solar lease agreement to be used as the basis for solar bonds and securitization for public markets.
      • Southern California Edison Company on the negotiation of a shutdown agreement with Searles Valley Mineral’s coal fired cogeneration project located in Trona, California, US.

    Insights