Armstrong Commits US$22.5 Million to Construct Mini-Hydro Plants in Indonesia (Asia)
Source: Armstrong Asset Management
Southeast Asia-focused clean energy investor Armstrong Asset Management has agreed to invest up to US$22.5 million in a 50MW portfolio of mini-hydropower plants in Indonesia. The facilities are being developed by PT Inti Duta Energi, the mini-hydropower development subsidiary of Jakarta-listed construction company PT Nusa Konstruksi Enjiniring. The transaction will be structured through Armstrong’s South East Asia Clean Energy Fund. The first project of 5MW, located in Java, is expected to be operational by the second quarter of 2016, followed by an additional three projects totaling 21MW in Sumatra by the end of 2016.