Ilham F. Raaziy

Partner (Project Finance), Assegaf Hamzah & Partners

Ilham is a Partner in the Project Finance, Project Development, and Construction practice of Assegaf Hamzah & Partners (AHP), Indonesia’s largest law firm and a member of the Rajah & Tann Asia network.

He graduated from New York University School of Law and was awarded a prestigious scholarship by LPDP, the Ministry of Finance of the Republic of Indonesia.

Ilham was recognised as a Rising Star Partner in Project Finance by IFLR1000 (2025), as an Indonesia Rising Star by Thomson Reuters’ Asian Legal Business (2023), and as Rising Star Lawyer of the Year (Indonesia) at the IFLR Asia Pacific Awards (2021). He joined AHP in 2018, following five years with HHP Law Firm (a member firm of Baker McKenzie).

In recent years, Ilham has played a leading role in a series of award‑winning Indonesian infrastructure and energy transactions, which collectively have won 13 “Deal of the Year” awards from leading international industry publications.

Selected highlights include advising on the US$265 million syndicated financing for Plaza Indonesia Group, led by Credit Suisse, which won Project Finance Deal of the Year at the ALB Indonesia Awards 2022, and the US$222 million ADB‑ and IFC‑led financing for the development of the 275 MW Riau combined‑cycle power plant, awarded Project Finance Deal of the Year at the ALB Indonesia Awards 2020. He also advised on the refinancing of Indonesia’s first wind power project, the Sidrap Wind Farm, which received Renewable Energy Deal of the Year at The Asset Triple A Infrastructure Awards 2021.

Ilham has further advised on the development of the Patimban Port, Indonesia’s largest port and the country’s first port project implemented under a public‑private partnership (PPP) scheme, as well as the construction of a chlor‑alkali plant owned by a subsidiary of PT Chandra Asri Pacific Tbk, Indonesia’s largest publicly listed petrochemical company.

Contributed to

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ESG in Indonesia

Practice Notes

Executive narrativeIn practice, Indonesia’s environmental, social and governance (ESG) regime is best treated as a layered compliance environment. The main pressure points tend to come from:•environmental licensing, impact assessment and sanctions under the national environmental framework•capital markets and financial-sector sustainability reporting and governance expectations led by the Financial Services Authority (OJK), and•a growing set of climate/carbon market mechanisms that are operational enough to create data-integrity and claims risks even where full sector coverage is still evolvingPrivate litigation is also a material risk channel, especially in the environmental realm, because Indonesia has accessible procedural tools for group claims and specialised guidance for courts hearing environmental disputes.Disclosure and reportingThe backbone for ESG reporting in Indonesia remains OJK Regulation POJK 51/POJK.03/2017 on Sustainable Finance, which requires financial services institutions, issuers and public companies to apply sustainable finance and to publish a sustainability report (with phased implementation set out in the regulation and its appendices).In governance terms, listed/public companies also sit under OJK’s corporate governance

Environment