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Aneka said the JV is targeted to tap into Indonesia’s 400,000MW solar power potential and will strengthen the group’s value chain and business resilience while contributing to Indonesia’s carbon neutrality goal.

KUALA LUMPUR: Aneka Jaringan Holdings Bhd and Samaiden Group Bhd have entered into a joint-venture (JV) agreement to tap into Indonesia’s energy market.

Samaiden said the JV would create new revenue streams for both companies via engineering, procurement, construction and commissioning of solar photovoltaic (PV) systems and power plants in Indonesia.

The JV is also expected to allow Aneka, which already has a presence in Indonesia via its subsidiary PT Aneka Jaringan Indonesia, to add to its value chain in a fast-growing segment.

Samaiden group managing director Chow Pui Hee said Indonesia presents excellent potential in the company’s area of expertise, namely in renewable energy and solar PV systems.

“We perceive Aneka, through its Indonesian subsidiary, as a perfect partner who has the local knowledge, network and experience that can expedite and support our geographical expansion.

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“With over 200 completed projects under our belt, we are committed to providing our best solutions to support Indonesia’s net-zero ambition,” he said in a filing with Bursa Malaysia.

Aneka and Samaiden will hold a stake of 45% and 50%, respectively, in the JV company and the remainder shall be subscribed by Aneka’s business partner based in Indonesia.

In a separate statement, Aneka said the JV is targeted to tap into Indonesia’s 400,000MW solar power potential and will strengthen the group’s value chain and business resilience while contributing to Indonesia’s carbon neutrality goal.

It added that it would finance its investment in the JV company via internal generated funds and/or bank borrowings. — Bernama

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