Reservoir Link to acquire 90% stake in Indonesian mini hydro plant project
Reservoir Link Energy Bhd’s unit has entered into a term sheet (TS) to acquire a 90% stake in Indonesia’s PT Eco Power Engineering (EPE) for US$3 million (RM12.81 million) in cash. EPE was incorporated in Indonesia on Feb 20, 2013 as a limited liability company as a special purpose vehicle (SPV) to enter into a power purchase agreement (PPA) with PLN for a 9.6MW Mini Hydro Project at Sungai Lawe Mamas, Wilayah Sungai Alas-Singkil, Acheh, Indonesia, according to Reservoir Link's bourse filing Tuesday. PLN is an Indonesian state-owned company tasked with supplying the electricity needs ...
Source: theedgemarkets.com