KUALA LUMPUR: Kejuruteraaan Asastera Bhd’s (KAB) subsidiary KAB Energy Holdings Sdn Bhd has entered into a term sheet agreement with Sarawak Cable Bhd to acquire the entire issued share capital of PT Inpola Itra Elektrindo (PT IME).
In a statement, KAB said PT IME has an existing power purchase agreement to supply electricity to PT Perusahaan Listrik Negara, the state-owned utility company in Indonesia, for a concession period of 20 years.
It operates a mini hydro power plant, named Kombih III, at Sungai Kombih in North Sumatera.
The plant has an installed capacity of 11 MW and achieved commercial operations on Oct 12, 2021.
According to KAB, the purchase consideration will be RM10,000.