KUALA LUMPUR (April 15): Express Powerr Solutions (M) Bhd (KL:XPB) is expanding to Indonesia with a collaboration on a 15-megawatt (MW) power generation project in Lombok.

The company is bringing its generator rental services to the project, which involves the procurement and rental of high-speed diesel bio-diesel-fuelled containerised power generation units, according to a bourse filing on Wednesday.

The project is being undertaken by a consortium comprising PT Triotama Toya Energi, PT Bintang Bangkit Bersama and PT Sumber Artho Bersaudara.

PT Triotama, which is responsible for the supply of the project’s power genset, inked a joint cooperation agreement with Express Powerr’s unit, PT Express Power Energy, for the latter’s generator rental services.

The collaboration’s revenue sharing is under a 70:30 split between PT Express Power and PT Triotama. Its value was not disclosed in the filing.

“The JCA provides an opportunity for the company to expand its core business activities of provision of generator rental services, as well as market presence, to the regional market,” Express Powerr said.

“In addition, leveraging PT Triotama’s established network may bring further collaboration opportunities in the future,” it added. 

The collaboration is expected to be completed within two years from the project’s commercial operation, which was not disclosed in the filing.

It may be extended with instruction from the project owner, PT PLN Nusantara Power Services, a unit of state-owned enterprise PT PLN Nusantara Power, and mutual agreement between PT Triotama and PT Express Power.

Shares in Express Powerr ended unchanged at 14 sen on Wednesday, valuing the company at RM135.5 million. The counter is down 30% from its 20 sen listing price on Sept 4 last year.