PETALING JAYA: Kinergy Advancement Bhd
(KAB) is acquiring the entire equity interest in PT Green Energy Specialist One (PT GESO) for RM8.89mil and will be building a 4.26 megawatt biogas plant in Aceh, Indonesia.
In a statement, KAB said the proposed acquisition includes purchaser exclusivity over the 6.5ha land where the biogas plant will be constructed.
“PT GESO has already secured a power purchase agreement (PPA) with PT Perusahaan Listrik Negara, Indonesia’s state electricity company.
“The PPA, which has a duration of 25 years from the commercial operation date, ensures a steady and reliable revenue stream, bolstering KAB’s recurring income on the regional stage.”
Additionally, the proposed acquisition entails an exclusive agreement with four palm oil millers’ sale and purchase of palm oil mill effluent, securing a consistent supply of raw materials essential for biogas production to KAB before the formal acquisition.
