Singapore’s Impiro acquires 95% of Indonesian clean energy firm

Visual from Contained Energy Indonesia's website

Singapore-incorporated full-service investment firm Impiro will take over PT Contained Energy Indonesia (Contained Energy) through a cash-and-stock transaction, which will see Impiro acquire a 95 per cent stake in the renewable energy company.

Impiro initially invested in Contained Energy in November 2014, purchasing a 45 per cent stake.

After examining the prospects and growth potential of the renewable energy sector, Impiro decided to provide additional capital and management support for the expansion of Contained Energy, in the country and, at a later-stage plan, in the surrounding region.

Impiro will also appoint a new CEO, Lion Kraaijbeek, for the Jakarta-based clean energy solution provider. Kraaijbeek, who has 30 year experience working in South East Asia, most recently held the position of CEO at the publicly-traded The Nomad Offices.

Commenting on the current energy situation, Kraaijbeek said: “Increasing the portion of renewable energy in its nationwide energy production from 25 per cent to 41 per cent is a stated national goal in Indonesia and we are perfectly positioned to play a significant part in this.”

Kraaijbeek plans to rapidly expand and increase Contained Energy’s market share of the solar panel market in Indonesia, in the coming two years. The company has implemented more than 100 projects since 2004,

According to Impiro officials, the emerging economy of Indonesia, with over 250 million people living on 18,000 islands, will generate opportunities in adopting renewable energy solutions.

Simon Landsheer, founder and lead investor at Impiro, believes that there is a shortage of energy across various sectors, including residential, industrial and commercial buildings, while the electricity rates of the state-owned power utility Perusahaan Listrik Negara, have gone up and will continue to rise.

Industry experts have determined that both increased capital injection from private investors and a proactive government approach to change policies, are important factors that will assist the region in meeting its targets.

Despite getting off to a slow start, the Southeast Asia’s clean energy financing has grown at an eight per cent compounded annual growth rate (CAGR) between 2010 and 2014, according to Armstrong Asset Management report.

And according to a new report by ApacMarket.com, titled “Asia-Pacific Solar Energy Panel Market – Types, Mounting Systems, End Users, Trends, Opportunities, Growth and Forecast, 2013–2020”, the APAC solar energy panel market would reach $37.8 billion by 2020, registering a CAGR of 14.8 per cent during 2014–2020.

Technology improvements and a rise in the demand for solar panels should present potential opportunities for this industry in the near future, Impiro said. “Government subsidies, eco-friendly technology, project financing and the decreasing costs of raw materials are key factors that supplement the growth of this market.”

Contained Energy, therefore, is keen on sustaining its engagement in providing sustainable, renewable energy and water solutions for a variety of industries including residential, commercial, government and community projects.

The company’s founder, Pieter de Vries, will continue to play an integral role in the business as chief technical officer.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.