KUALA LUMPUR: Express Powerr Solutions (M) Bhd
said its subsidiary PT Express Power Energy has entered into a joint cooperation agreement with PT Triotama Toya Energi to collaborate on a power generation project in Lombok, Indonesia.
In a bourse filing, the group said PT Triotama, in a consortium with two other private limited companies, is undertaking a power generation project in Indonesia, which includes the procurement and rental of high-speed diesel biodiesel-fuelled containerised power generations units with a total installed capacity of 15MW.
The project also includes providing the related mobilisation, installation, civil and electrical works for a power plant in Lombok.
"In view of the company’s expertise and experience in provision of generator rental services, PT Triotama is desirous to collaborate with PT Express Power to support its scope of works in relation to the Project. Pursuant to the JCA, PT Express Power is to collaborate with PT Triotama for the supply, installation, operation and maintenance works for the Project," said the filing.
After a fixed portion of the revenue from the collaboration is paid to PT Triotama based on the contracted supply, the remaining balance - minus operation and maintenance costs - will be split 70:30 between PT Express Powerr and PT Triotama respectively.
The operation and maintenance cost will also be shared in a 70:30 split between PT Express Powerr and PT Triotama.
The joint cooperation agreement is expected to be completed within two years from the commercial operation date of the project and may be extended in accordance with the instruction from the project owner, PT PLN Nusantara, and agreement by PT Triotama and PT Express Power.
