Shearman & Sterling has been selected as an advisor for the 145 MW floating solar photovoltaic (PV) power project on the Cirata Reservoir in Indonesia. Shearman & Sterling will advised Abu Dhabi Future Energy Company and Pembangkitan Jawa Bali Investasi (PJBI) on the USD114 million financing of the solar project.
Sumitomo Mitsui Banking Corporation, Societe Generale and Standard Chartered Bank will fund the Cirata PV project. The plant is expected to start commercial operations in the fourth quarter of 2022.