Yinson Renewables Vice President Business Development Marius Kleiven (left) and Inecosolar Founder and Director Benoît Prim (right) at the signing of the agreement.
KUALA LUMPUR: Yinson Holdings Bhd
's renewables division, Yinson Renewables, has entered the Indonesian market via the acquisition of a majority stake in solar company PT Ineco Solar Solutions (Inecosolar).
It said in a statement Inecosolar is a well-established solar system provider in Indonesia with a track record delivering residential and commercial rooftop solar systems.
According to the company, the acquisition aims to enable Inecosolar to provide all-in-one zero-capital solutions, expand its project portfolio and establish itself as an independent power producer (IPP) in Indonesia and beyond.
A zero-capital arrangement allows businesses to install rooftop PV systems with no upfront cost and benefit from reduced electricity tariffs over a 15 to 20-year tenure.
"The transaction will further build YR’s presence and pipeline in Asia, which is one of our core regions of focus.
"Indonesia contributes approximately a quarter of Southeast Asia’s economic activity and is expected to become a major global economy.
"With a nascent renewable energy market, Indonesia is poised to be a major hub of the energy transition,” said Yinson Renewables CEO David Brunt.
