PT.AMCO Hydro Indonesia (“AMCO”) announced that it has entered into a factoring agreement and its disbursement with PT. SMFL Leasing Indonesia (“SMFL”) to secure the necessary funding for the rehabilitation of Karai-7, an operating mini hydro power plant project with the size of 2 x 3.54MW located in Simalugun, North Sumatera and owned by PT Global Karai Energi (“GKE”).
Karai-7 has been operating for more than 5 years. Due to low efficiency using a current turbine system, GKE initiated the idea to replace to the new turbine system with higher efficiency and more energy output. AMCO is the coordinator for this rehabilitation of Karai-7 with the system from Voith Fuji Hydro K.K. and provide necessary funding support. With the advisory support of Alamport Inc. (“Alamport”) dealing with SMFL and the technical support of Chodai Inc. (“Chodai”), AMCO has successfully secured funding from SMFL.
AMCO aims to contribute rehabilitation in hydropower plant projects in Indonesia by replacing the existing (and old) turbine(s) with new turbine(s) with better specification using the most updated international standard and with its funding support. Upon the rehabilitation, it is expected that the newly installed turbine(s) will generate more electricity and have higher revenue and contribute the climate of renewable energy policies in Indonesia aiming to have 23% of Indonesia’s energy coming from renewable sources by 2025.
GKE is the project company of Karai-7 as part of group company of PT Bersaudara Investco Energi (“BIE”). BIE is engaged in renewable energy business investment in Indonesia. BIE is a pioneer of the hydropower plants developer in Indonesia. Currently, BIE and its group companies owned two operating mini hydropower plants totaled of 16 MW in Sumatera, Indonesia and plans to develop more renewable power plants in the future.
Chodai is a leading construction consultant listed on the Tokyo Stock Exchange first section. We provide infrastructure development solutions that resolve social issues. We are recognized for the solid expertise of our team of outstanding professionals and our technology and creativity that cover a wide range of areas including civil engineering structures such as bridges and tunnels, roads and railways, lifelines such as water and electricity, ports and rivers, schools, and medical facilities.
Alamport is founded in March 2015. Alamport is engaged in business development, investment, consulting and advisory services to achieve the promotion of renewable energy projects that are closely aligned with local needs. The company is involved in a wide range of renewable energy projects using local natural resources effectively, including solar, hydro, biomass, and biogas.
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