DFDL is pleased to announce its role as local legal counsel, supporting international counsel Mayer Brown, in advising Clifford Capital and Pentagreen Capital on their joint financing of BECIS Bioenergy Pte. Ltd. (BECIS). The financing package, structured as a green loan of USD 30 million, will support the development and construction of bioenergy projects across Southeast Asia and India. The loan includes an accordion feature, potentially increasing the total financing by an additional USD 20 million, which could bring the overall project value to USD 50 million.
The green loan will fund 14 individual bioenergy installations located across Indonesia, Thailand, Cambodia, the Philippines, and India. These projects will convert agricultural waste and sustainably sourced feedstock into renewable energy in the form of steam. The steam will be supplied to commercial and industrial customers under long-term offtake agreements, contributing to the region’s energy transition and sustainable development goals.
This significant transaction underscores DFDL’s ability to navigate and manage cross-border legal complexities across multiple jurisdictions. The DFDL team was led by Regional Managing Partner, Audray Souche, supported by Legal Advisor, Rohan Bishayee, providing seamless coordination across five different legal frameworks.
In Indonesia, the team at Nusantara DFDL Partnership was spearheaded by Partner and Managing Director, Vinay Ahuja, alongside Partner, Afriyan Rachmad, and Legal Advisor, Rahajeng Setyoko.
The Cambodia team was led by Partner, Kooi Thong Lai, Senior Advisor, Leung Seng, and Senior Advisor, Leab Seng, providing key local legal support.
For Thailand, the project was handled by Partner, Nipaporn Supha-utchaichan, and Legal Advisor, Benjawan Butkrut.
In the Philippines, DFDL partnered with VAL Law Offices spearheaded by Founding Partner and Head of Corporate & Special Projects, Timothy Joseph N. Lumauig, together with lead Associate, Joaquin A. Paras, and team to oversee the Philippines financing aspects.
In India, DFDL collaborated with Deepak Kumar Thakur, a Partner at Luthra and Luthra Law Offices, to manage the Indian legal and regulatory aspects of BECIS’ projects in India and their impact on the sponsor level the financing availed by BECIS in Singapore.
This transaction highlights DFDL’s extensive regional footprint and its expertise in the clean energy sector, as well as its ability to coordinate efficiently and deliver comprehensive legal services across multiple jurisdictions.
