KAB completes transfer of mini-hydropower plant unit in Indonesia

KUALA LUMPUR: Kinergy Advancement Bhd's (KAB) wholly-owned subsidiary KAB Energy Holdings Bhd has completed the transfer of all the shares in PT Inpola Mitra Elektrindo, which owns a mini-hydropower plant, from the vendors to KAB Energy.

PT IME, which has become a wholly-owned subsidiary of KAB, owns and operates an installed capacity of 11 MW mini-hydropower plant in North Sumatera, Indonesia, under a 20-year Power Purchase Agreement (“PPA”) with PT Perusahaan Listrik Negara (“PLN”), the state-owned electricity company.