Ashurst and ADT Law advise BNI and PT SMI on US$151.6m financing for 262 MWp solar and 80 MWh BESS at Morowali Industrial Park
"Ashurst and ADT Law advised lenders PT Bank Negara Indonesia (BNI) and PT Sarana Multi Infrastruktur (PT SMI) (with BNI and Madison Pacific Trust as agents) on a USD 151.6 million project financing for a 262 MWp solar PV plant and 80 MWh battery energy storage system at the Indonesia Morowali Industrial Park in Central Sulawesi. Developed by Sembcorp Energy Indonesia and PT Sumber Energi Surya Nusantara (SESNA), the fully behind‑the‑meter project — selling all power to a subsidiary of Nickel Industries Limited — is among the largest solar and BESS schemes to reach financial close in Indonesia and supports decarbonisation of mining operations. The cross‑jurisdictional Ashurst team was led by partners Jean‑Louis Neves Mandelli (Singapore) and Frédéric Draps (Jakarta). The firms described the deal as a first‑of‑its‑kind, important step for industrial‑scale renewables in Indonesia."