Nov 24, 2014 - Singapore-based firm Impiro Pte Ltd said Wednesday it has made a "major investment" in PT Contained Energy Indonesia to support the latter's renewable energy operations in the country and the Pacific Islands.
Specific details on the transaction were not disclosed.
The two companies will aim to take advantage of the opportunities for renewable power capacity deployment, especially solar power, that will arise from the recent substantial increase in electricity fees in Indonesia, by up to 60% during 2014 alone, and the newly introduced net-metering. The companies' plan is to start adding new assets to Contained Energy’s renewable portfolio.
"With a ramp-up of sales and marketing efforts in conjunction with an anticipated rebranding of the company, a new era awaits Contained Energy," Impiro said in a press release.
The target company takes care of the design, system selection, installation and maintenance of alternative energy systems. It can also provide support in the financing stage.