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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