Navigat

Indonesia’s Navigat raises power funds

The Indonesian gas-to-power group is set to announce $21 million in top-up investments as early as this week to build power generators.
Demand for electricity in remote and inaccessible areas of Indonesia is vast.
Demand for electricity in remote and inaccessible areas of Indonesia is vast.

Navigat, the gas-to-power group, is set to announce $21 million in investments from Indonesian investors to expand its network of power generators across Southeast Asia.

The investors in the Jakarta-headquartered company are financial services firm Mahanusa Capital and conglomerate Gunung Sewu Group. Their expected pledges follows a $25 million investment in Navigat by the private equity arm of Standard Chartered in December last year.

As with Standard Chartered’s investment, the new capital will go towards enabling Navigat’s power-generating business MAXpower to hit its target of 1,000MW of installed operating capacity by the end of 2015. Navigate specialises in generating electricity from many small energy...

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