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KUALA LUMPUR: Aneka Jaringan Holdings Bhd and Samaiden Group Bhd have entered into a partnership to create new revenue streams via the engineering, procurement, construction and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants in Indonesia.
In a joint statement, the companies said the joint venture will provide Samaiden access to the Indonesian market and allow Aneka Jaringan's Indonesian subsidiary to add to its value chain in a fast-growing segment.
"The JV puts both companies in a strategic position to capitalise on the opportunities presented by Indonesia’s commitment to RE.
"In addition to EPCC of solar PV, the JV will provide RE and environmental consulting services, operations and maintenance (O&M) services, and built-own-operate-transfer RE facilities," it said.,
Aneka Jaringan and Samaiden will hold 45% and 50% stakes in the JV company respectively with the remaining 5% subscribed by Aneka Jaringan's business partner in Indonesia.
"“This JV is in line with our growth strategy of expanding our operations in Indonesia and increasing our revenue streams.
"Our new Jakarta office is nearing completion, ready to welcome a new JV company and this will enable them to hit the ground running to tap into Indonesia’s 400,000 megawatt (MW) solar power potential," said Aneka Jaringan managing director Pang Tse Fui.
"With over 200 completed projects under our belt, we are committed to provide our best solutions to support Indonesia’s net-zero ambition," added Samaiden group managing director Chow Pui Hee.