Reservoir Link Energy’s (RLEB) wholly-owned subsidiary Skyline Energy (SESB) entered into a Term Sheet (TS) for the acquisition of 90% equity interest in PT Eco Power Engineering (EPE).
SESB had entered into the TS with PT Sumpratama Juru Engineering (SJE), owner of 100% of EPE for the acquisition of 90% of the ordinary shares of EPE for a cash consideration of USD 3,000,000 on 31 January 2023.
The objective of the aquisition is to enter into a Power Purchase Agreement (PPA) with Perseroan Listrik Negara (PLN) for a 9.6 MW Mini Hydro Power Plant.
The Acquisition is expected to be funded by internally generated funds and/or bank
borrowings.
