Armstrong finances NKE, IDE for small hydropower development in Indonesia

Asian financial firm Armstrong Asset Management has announced its plan to spend up to US$22.5 million in developing and operating a 50 MW portfolio of mini-hydroelectric power plants in Indonesia.

The portfolio is being developed by construction company PT Nusa Konstruksi Enjiniring Tbk (NKE), which is a subsidiary of PT Inti Duta Energi (IDE).

“We are very pleased to announce this partnership with NKE Group,” Armstrong partner Michael McNeill said. “We look forward to building on our excellent working relationship with the IDE team, whose project development and technical capabilities are well recognized in the mini-hydro market Indonesia.

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Posted July 23, 2014 by repit in News

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