Towards Financial Freedom
ISDN Holdings to develop Indonesian hydropower projects
ISDN Holdings to develop Indonesian hydropower projects. ISDN, an integrated engineering solutions provider for diverse industries, has embarked on a new journey to diversify its business into energy sector. ISDN has proposed to acquire stakes in two Indonesian energy-related companies - 40.8% and 80.0% interest in PT Prisma Karun Energy and PT Potensia Tomini Energi respectively. This will give ISDN a strong foothold in Indonesia's growing energy sector. PT Prisma Karun Energy has signed a power purchase agreement (PPA) with PLN (Perusahaan Listrik Negara), a state run power distribution company, to develop a mini hydropower plant in South Sulawesi while PT Potensia Tomini Energi is in the process of signing a similar agreement in Central Sulawesi. Construction for the South Sulawesi plant is expected to begin early next year and is expected to last 18-24 months. The first income stream is expected to flow in after full operations commences. The projects will be financed through equity and debt.
Source: OSK
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