Delphos International Transaction Named one of IJGlobal’s Top Deals
The 330 MW Sarulla geothermal project in Indonesia was named a top 10 deal in IJGlobal’s first half 2014 review. The $1.54 billion Sarulla project was the third largest project in the Asia-Pacific region as well as the second largest renewable energy project globally. IJGlobal noted that Sarulla’s successful closing proves that it is possible for Indonesia to realize at least some of its vast geothermal potential. Delphos International served as a sole advisor to an Ormat-led consortium to raise over $350 million of senior debt from the Asian Development Bank (“ADB”) to construct, operate, and maintain the Sarulla project. The other project sponsors were Itochu Corporation, Kyushu Electric Power Company, and Medco Power Indonesia.
