KUALA LUMPUR (Aug 2): Samaiden Group Bhd has entered into a joint venture (JV) agreement with Aneka Jaringan Holdings Bhd to vie for engineering, procurement, construction and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants in Indonesia.

In a joint statement to Bursa Malaysia on Tuesday (Aug 2), the companies said the JV provides Samaiden access to the Indonesian market and allows Aneka Jaringan, which already has a presence in Indonesia via its subsidiary PT Aneka Jaringan Indonesia, to add to its value chain in a fast-growing segment.

They said Indonesia’s renewable energy (RE) sector holds promising potential, adding that the JV puts both companies in a strategic position to capitalise on the opportunities presented by Indonesia’s commitment to RE.

In addition to EPCC of solar PV, the JV will provide RE and environmental consulting services, operations and maintenance services, and built-own-operate-transfer RE facilities.

Samaiden group managing director Chow Pui Hee said Indonesia presents great potential in an area of Samaiden’s expertise — RE, in particular solar PV systems.

“We perceive Aneka Jaringan through its Indonesian subsidiary, as a perfect partner who has the local knowledge, network and experience that can expedite and support our geographical expansion.

“With over 200 completed projects under our belt, we are committed to provide our best solutions to support Indonesia’s net-zero ambition,” said Chow.

Meanwhile, Aneka Jaringan managing director Pang Tse Fui said the JV is in line with its growth strategy of expanding operations in Indonesia and increasing revenue streams.

“Our new Jakarta office is nearing completion, ready to welcome a new JV company and this will enable them to hit the ground running to tap into Indonesia’s 400,000 megawatt (MW) solar power potential,” he said.

At midday break on Tuesday, Samaiden rose 1.6% or one sen to 63.5 sen with 253,200 shares traded while Aneka Jaringan fell 2.94% or 0.5 sen to 16.5 sen with 425,000 shares done.