Norton Rose LLP has advised Indonesian state-owned electricity company Perusahaan Listrik Negara on the US$371,000,000 financing for the 2 x 350MW coal-fired Tanjung Awar-Awar power project, signed late last year.

The financings are part of the Indonesian government’s ‘Fast Track’ programme to construct and finance 10,000MW of new generation capacity.

The financing was arranged by Bank of China and is supported by an Indonesian Ministry of Finance guarantee and Chinese export credit insurance.

Norton Rose advised PLN on all international financings under the Fast Track Program to date.

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The firm's Singapore-based banking partner, Jeff Smith, led the transaction with assistance from senior associate Hannah Logan.

Indonesian law firm Hadiputranto, Hadinoto & Partners provided Indonesian legal advice to PLN.

Clifford Chance and Ali Budiardjo, Nugroho, Reksodiputro advised the lenders.