Green Power signs battery pack rental agreement with Safago New Energy
Friday, December 27 2024 - 07:38 AM WIB
By Romel S. Gurky
Battery pack firm PT Green Power Group Tbk (IDX: LABA) announced on Thursday a partnership with PT Safago New Energy (SNE) for a long-term battery pack rental agreement. This collaboration supports SNE’s operations as a manufacturer of three-wheeled electric motor vehicles and is set to enhance the adoption of electric vehicles in Indonesia’s logistics and retail sectors.
Under the agreement, Green Power Group will supply custom-made battery packs tailored to SNE’s specifications, with an annual delivery of 6,000 units of 72V 100AN battery packs until 2029. The deliveries will follow a phased schedule, starting with 600 units in the first quarter, increasing incrementally to 2,400 units by the fourth quarter each year.
Read also : Green Power plans solar and battery storage project
The agreement also specifies a revenue-sharing model, where SNE, as the operator, will retain 15% as a management fee, with the remaining 85% divided between the two parties. PT Green Power Group will receive 30% of the operational income as rental fees for the battery packs, while the remaining 70% will belong to SNE.
These battery-powered vehicles are expected to serve as transport fleets for retail, logistics, and other businesses, aligning with Indonesia’s push towards sustainable energy solutions.
Editing by Alexander Ginting