Express Powerr Solutions (M) Bhd is expanding its regional footprint with a 15-megawatt (MW) power generation project in Lombok, Indonesia.
In a Bursa Malaysia filing on Wednesday, the company said it will provide generator rental services, including the procurement and leasing of high-speed diesel and biodiesel-fuelled containerised power generation units.
The project is undertaken by a consortium comprising PT Triotama Toya Energi, PT Bintang Bangkit Bersama, and PT Sumber Artho Bersaudara. PT Triotama, which is responsible for supplying the project’s power generators, has signed a joint cooperation agreement (JCA) with Express Powerr’s Indonesian unit, PT Express Power Energy, for the rental services.
Under the agreement, revenue will be shared on a 70:30 basis, with the larger portion allocated to PT Express Power. The contract value was not disclosed.
Express Powerr said the collaboration marks a strategic step to expand its core generator rental business into the regional market, while leveraging PT Triotama’s established network for potential future opportunities.
The project is expected to run for two years from its commercial operation date, with the possibility of extension subject to approval from the project owner, PT PLN Nusantara Power Services, and mutual agreement between the partners.
Shares in Express Powerr closed unchanged at 14 sen, giving the group a market capitalisation of RM135.5 million. The stock is currently about 30% below its IPO price of 20 sen in September last year.
