Alamport Renewables Pte. Ltd. (“AR”), a subsidiary of Alamport Inc. (“Alamport”) and jointly managed by Alamport and EnBio Holdings Inc. (“Enbio”), would like to announce that one of the invested company named PT Mulya Energi Lestari (“MEL”) has raised new capital through issuing new shares to Japanese investor named Electric Power Development Co., Ltd. (“J-Power”). J-Power has acquired 28.375% stakes in MEL through its sub-holding company.
MEL was established in 2016 to develop, construct and operate hydropower plants in Indonesia. MEL currently owns six projects in Sumatera (one under operation, one under construction, four under development, MEL’s equity output: 52.5 MW), and J-Power’s capital will be used for the four projects under development.
Alamport and AR have been supporting MEL’s growth since the company’s early days by providing financial assistance, including equity investments and loans, as well as facilitating the fundraise from strategic investment partners, securing government subsidies, and arranging bridge financing, etc. We are pleased that J-Power has decided to invest in MEL, enabling the company to secure substantial funding that will facilitate further growth in the future.
The Indonesian government announced its commitment to achieving a renewable energy ratio of at least 23% by 2025 and carbon neutral by 2060. To meet this goal, the government aims to increase approximately 21 GW of renewable energy between 2021 and 2030, with hydropower, including small-scale hydro projects, expected to account for around 10 GW, nearly 50% of the total increase in renewable energy capacity. As outlined in the government’s plan, there are high expectations for hydropower generation, and the Alamport group will continue to play an active role in promoting hydropower projects in Indonesia to contribute to the country’s renewable energy goals.
■ Overview of Alamport Renewables Pte. Ltd. (“AR”)
| Name | Alamport Renewables Pte. Ltd. |
| Establishment date | 1st March, 2022 |
| Registered address | 160 ROBINSON ROAD #14-04 SINGAPORE, 068914 |
| Paid up capital | USD1,000,000 |
| Shareholders | Alamport Inc. (51%) Taiyoko Park Ni, G.K. (49%) *100% owned by Enbio |
■ Overview of PT Mulya Energi Lestari (“MEL”)
| Establishment date | Aug. 2016 |
| Registered address | Jakarta, Indonesia |
| Shareholders | Silver Moon Investment PTE. LTD. PT Sudi Mulya Lestari Orange Capital PTE. LTD. Alamport Renewables PTE. LTD. Air Indonesia LTD. *J-Power’s sub-holding |
| Business Activities | Development, construction and operation of hydropower plants |
[About Alamport Inc.]
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.
URL: https://alamport.net/en/
[About EnBio Holdings, Inc.]
Founded in June 1999. Enbio is listed in Tokyo Stock Exchange Standard Market (Code: 6092). Enbio’s core business is to solve environmental problem by providing services for engineering solutions on soil improvement, brownfield revitalization and renewable energy.
URL: https://enbio-holdings.com/
<For inquiries regarding this press release>
E-mail: info@alamport.com