Norton Rose Fulbright has advised Export-Import Bank of Korea (Korea Eximbank) in relation to its first ever equity investment. The project is to build and operate a 54MW hydroelectric power plant by the Semangka river in the Tanggamus District, Lampung Province which is located in South Sumatra, Indonesia, which will supply power to Sumatra. The plant is scheduled for completion in 2017.
On top of the equity investment, Korea Eximbank is also providing USD 132.9 million in project financing which includes a loan and a guarantee.

This project holds particular significance as an 'investment-development type project' whereby Korean players are involved in every stage of the project from early development, equity investment and construction to operation.

Charles Whitney, partner, Norton Rose Fulbright, comments:

“We are delighted to advise Korea Eximbank on this landmark transaction. The development of the equity investment product has been one of the key innovations coming from Korea Eximbank in recent years and the Korea Eximbank Financial Investments team, together with the sponsors group led by Korea Midland Power Co., deserve all the credit for signing the first transaction in the Indonesian power sector.”

The Norton Rose Fulbright team advising Korea Eximbank was led by partner Charles Whitney and included partner Andrew Hart and associates Claire Kim, Alexandra Jeffreys and Christina Jeong.

The parties successfully signed the equity investment documents on 6 May 2015 in Indonesia and Korea Eximbank’s equity investment component of the project is expected to complete by end of May 2015.

http://www.nortonrosefulbright.com/uk/news/128711/norton-rose-fulbright…