Indonesian law firm Assegaf Hamzah & Partners has been particularly active in sustainable finance transactions and also works across environmental advisory matters and renewable energy projects.

In 2021, head of the firm’s projects team Kanya Satwika, among others, advised Masdar (also known as the Abu Dhabi Future Energy Company), PJBI (a subsidiary of Indonesia’s state-owned electricity company PLN), and PMSE (a joint venture between Masdar and PJBI) on a 145MW floating solar power plant in the country’s West Java province, the largest of its kind in Southeast Asia.

In the sustainable finance space, the firm was involved in the first investment grade green project bond from the private sector in Indonesia: It advised Star Energy Geothermal Salak – Darajat on their $1.1bn amortizing dual tranche senior secured green project bonds. The proceeds of the transaction were used to finance the Wayang Windu Geothermal power plant as well as assets with direct emissions of less that 100g CO2 per kWh (compared to a national average of around 900g CO2 per kWh). The firm has also handled various green sukuk transactions. Most recently, in 2022, it advised on the the largest ever green sukuk tranche globally: It acted as Indonesian legal counsel to the joint lead managers in the Republic of Indonesia’s issuance of a $3.25bn sukuk offering, including a US$1.5bn green sukuk.

In a country where waste management and reduction of single-use plastic is a relatively new concept, the firm has implemented a policy not to provide plastic straws and water bottles. The firm is also one of five organisations in Jakarta, one of the most polluted cities in the world, to install an air pollution monitor in its office which allows the public to get accurate and real time data of air quality.