Electric Power Development Acquires 28% Stake in Indonesian Hydropower Company

MT Newswires Live11-14 06:34

EnBio Holdings (TYO:6092) said Electric Power Development (TYO:9513) has acquired a 28.375% stake in Mulya Energi Lestari, an Indonesian hydropower company, according to a Wednesday filing on the Tokyo Stock Exchange.

The investment, which was made through Electric Power Development's sub-holding company, aims to support Mulya Energi Lestari's four hydropower projects under development.

EnBio, through its subsidiary Taiyoko Park Ni, owns 49% of Alamport Renewables, which has supported Mulya Energi Lestari's growth since its early days. Alamport Renewables and EnBio have provided equity investments and loans, and facilitated fundraising for Mulya Energi Lestari, aligning with Indonesia's renewable energy goals.

The deal with Electric Power Development is expected to provide substantial funding to accelerate Mulya Energi Lestari's expansion and contribute to Indonesia's renewable energy targets.

Price (JPY): $599.00, Change: $+1.0, Percent Change: +0.17%

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