JAKARTA (rambuenergy.com) - MAXpower Group Pte Ltd, a power plant developer and operator with a focus in Southeast Asia, said that i has completed a US$282 million financing on June 12, 2015.
The financing include US$60 million structured equity investment from Standard Chartered Private Equity (SCPE), and a US$222 million debt refinancing where Standard Chartered Bank was advisor to the company and joint lead arranger with OCBC Bank.
The new equity and debt proceeds will be used to support MAXpower’s on-going development and construction program in Indonesia and other countries in South East Asia.
As part of the transaction, the company will be appointing Greg Karpinski as Executive Chairman of the MAXpower Group, and he is expected to take up the role by the end of July 2015. Karpinski is currently Managing Director at Standard Chartered Private Equity.
“MAXpower is one of the fastest growing energy companies in Southeast Asia and I am honoured to have been granted the opportunity to join the organization and help the Company realize its full potential. I look forward to working closely with the Board, the shareholders and the current management to help build the most successful distributed power company in Asia during the course of the coming years” said Mr Greg Karpinski.
The Company is also pleased to announce that Nainesh Jaisingh (Global Co-Head, Standard Chartered Private Equity), Benjamin Soemartopo (Managing Director, Head, Standard Chartered Private Equity, Indonesia) and Kanad Virk (Managing Director, Head, Standard Chartered Private Equity, Energy, Resources & Infrastructure) will be joining the Board of the Company. (*)