ISDN acquires 51% stake in Indonesian hydropower provider for $2m

The acquisition of PT Funda will strengthen ISDN’s presence in Indonesia.

ISDN Holdings Limited has announced its acquisition of 25,500 common shares or 51% ownership in PT Funda Kontruksi Engineering, a provider of end-to-end hydropower services in Indonesia.

The acquisition’s total consideration was $2m (IDR25.5b).

According to ISDN’s bourse filing, PT Funda’s operations cover both upstream engineering, procurement, and construction (EPC) and downstream operations and maintenance (O&M), complementing ISDN’s existing renewable energy operations to expand its foothold in Indonesia.

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