Project management services provider Dovre of Espoo, Finland, enters into strategic partnership for biomass-to-energy development in South East Asia; first project is Indonesian pellet processing plant

ESPOO, Finland , March 2, 2012 (press release) – Dovre Group Plc has on March 2, 2012, entered into a strategic partnership regarding Biomass-to-Energy project development in South East Asia and acquired a minority share in SaraRasa Biomass Pte. Ltd., a renewable energy project developer based in Singapore. The partnership is a step towards expanding the Group’s business in the renewable energy sector by leveraging the Group’s existing core competences in project management and development. As part of the partnering agreement, Dovre Group will also invest in the first project developed by SaraRasa, which is a pellet processing plant using sustainable waste material. The other owners of the plant, which will be located in Indonesia, are SaraRasa and financial investor Stahl Capital Ltd. Dovre Group’s total investment is around EUR 1.4 million.

Dovre Group has extensive experience as a provider of project management services and solutions for demanding investment projects. The partnership with SaraRasa has arisen as part of the Group’s ongoing study into the possibility of expanding the Group’s business in the renewable energy sector, including developing, financing, and managing renewable energy projects in cooperation with local project developers. The overall study covering other geographical areas, renewable energy verticals, and new business models is planned to be completed during spring 2012.

“We are very excited about entering into a partnership with a highly skilled project development team specialized in renewable energy,” says Janne Mielck, CEO of Dovre Group. “This is a new strategic opportunity for Dovre Group, and our intention is to work together with SaraRasa on other Biomass-to-Energy projects in the future.”

“The partnering model with Dovre Group suits well our growth plans as a local project developer,” says Saku Rantanen, CEO and co-founder of SaraRasa. “Dovre Group’s offering covers the entire project development process from feasibility studies through project implementation to investors’ exit. This approach helps us to improve our project management processes, reduce the project risks, and to increase the project’s profitability.”

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