Welcome!

News Feed Item

Appointment of New CEO and Creation of Executive Chairmanship Mark the Beginning of a New Era for the Group

Targeting 1,000MW of Installed Capacity by 2016; Further International Expansion Planned After Successful Myanmar Launch; Renaming of Navigat Group as MAXpower Group

SINGAPORE and JAKARTA, INDONESIA -- (Marketwired) -- 05/14/14 -- Navigat Group ("Navigat" or "the Group"), the South East Asian gas-to-power specialist, today announces the promotions of Arno Hendriks to Chief Executive Officer ("CEO") and of Willi Goldschmidt to Executive Chairman, a newly created role. These appointments take effect immediately, broadening the board of directors. Arno and Willi will lead the Group into the next phase in its development. As CEO, Arno will head the entire Group, with a focus on building it into a leading distributed power company in the region. Willi, as Executive Chairman, will continue to drive the high-level development of Navigat and ensure its businesses in Indonesia achieve their long-term potential.

With effect from 15 May 2014, the Group will also change its name to MAXpower Group Pte Ltd. ("MAXpower Group") to better reflect its future potential as an increasingly important distributed power plant developer in the South East Asian electricity market.

Arno Hendriks is currently Chief Financial Officer of the Group, a role he has held since joining in May 2010. During this time he led transformational financing deals and secured USD104 million equity investment from high profile investors, including Standard Chartered Bank ('SCB')* and seasoned Indonesian investors**. He raised USD270 million in debt finance in 2013, from co-lead arrangers SCB and OCBC. In addition to financing the Group's expansion and leading a 45 strong accounting and analyst team, Arno has also played a key role in the international development of the Group into Myanmar and Thailand and the build-out of MAXpower's distributed power business across the region.

Willi Goldschmidt, co-founder and CEO of the Group and subsidiaries MAXpower and Navigat Energy since their formation, will become Executive Chairman. Under his leadership, Navigat Energy installed its first GE Jenbacher ('GEJ') engine in Indonesia in 2004 and rapidly grew to become the leading distributor of GEJ engines in the region. In 2012 Navigat Energy was named GEJ's largest customer worldwide. MAXpower was launched in 2009 as a developer, owner and operator of gas-fired power plants in South East Asia, enabling the Group to build on its existing relationship with GEJ while dramatically increasing revenues and profit margins. To date, MAXpower has delivered 335MW of clean, scalable and affordable gas-fired power to some of the most remote and undersupplied parts of Indonesia and Myanmar. Led by Willi, the Group's revenue grew to c.US$ 200 million in 2013, demonstrating its fast ascension in the South East Asia distributed power industry.

Arno Hendriks said: "As CEO, my plan is to set the bar even higher and to grow MAXpower Group into the leading gas-fired distributed power provider in South East Asia. My objective is to deliver 1,000MW of clean, scalable and affordable gas-fired power to our core markets of Indonesia and Myanmar by 2016, to seek new markets for expansion, and to develop large gas fired projects in the region.

"I have every confidence that we will achieve our ambitious targets thanks to the strong support of our financing partners, General Electric, our customers and our exceptionally skilled and hardworking staff which will grow from 650 today to 1,000 by 2015.

"The success of our business model and approach has been clearly proven. We build scalable power solutions for undersupplied areas in record times. By bringing electricity to the most remote communities of South East Asia MAXpower Group also makes a considerable contribution to the region's economic and social development. Now all our efforts are focused on expanding our reach and scale."

Willi Goldschmidt commented: "I am extremely proud of what we have achieved over the past ten years, having begun as an engine distributor and evolved into an international integrated power company that services multiple markets across South East Asia.

"I am passionate about this business, and about the impact it has made on some of the most remote communities of Indonesia where we have supported PLN's efforts to bring the electrification rate to national levels."

Commenting on Arno's promotion to CEO, he added: "It is in full confidence that I cede the CEO role to Arno. He has been an exceptionally dynamic and result-focused executive over the past three years, and he is the right man to lead the Group into its next development phase."

*USD25 million investment from Standard Chartered Private Equity in December 2013, and USD58 million investment from Standard Chartered IL&FS Asia Infrastructure Growth Fund ("SCI Asia") in January 2012
** Mahanusa Capital and Gunung Sewu Group invested US$21 million on 5 May 2014

Company logo:
http://release.media-outreach.com/i/Download/1741

About Arno Hendriks
Arno Hendriks, CEO, is based in Jakarta, Indonesia. Prior to his appointment as CEO, Arno served as the Group's CFO for 4 years. Before joining the Group in May 2010, Arno served as a Managing partner of Asia Green Capital, a corporate finance company in Singapore. Prior to that, he spent four years as Managing Partner of a renewable energy/carbon company which he founded in 2004 with activities in Europe and South East Asia and four years as a Managing Director of a subsidiary of Petroplus International, a midstream oil and energy company. Arno started his career as an energy consultant and has over 20 years of international energy business experience, of which eight were in South East Asia. Arno holds a MBA degree from the Rotterdam School of management and a Master in Science degree from the University of Technology in Delft, The Netherlands.

About The Navigat Group
The Navigat Group (or the "Company") is SE Asia's leading distributed power plant developer, owner and operator, with 335MW of installed capacity and operations in Indonesia, Myanmar, Singapore and Thailand. It is also the second largest global distributor of General Electric ("GE") Jenbacher power equipment, having sold over 1,000MW of units through its distribution licenses in Indonesia, Singapore and Thailand. Navigat's top holding company is incorporated in Singapore, and the Company is headquartered in Jakarta.

The Group's main focus is the distributed gas to power market in SE Asia, and it typically pursues power projects of 5 - 100MW in size. Through its two major divisions, Navigat Energy (GE Jenbacher gas engine equipment sales and service) and MAXPower (IPP, BOOT and Rental projects), Navigat has the ability to pursue all distributed power opportunities along the value chain from equipment sales, to services, construction management, project development and asset ownership.

For more information: please visit Navigat /MAXPOWER website at www.maxpowergroup.com

Media contacts:
Alastair Hetherington/ Marylene Guernier/ Shelly Tong
RLM Finsbury
Tel: +852 3166 9886
Email: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.