At its briefing, ISDN also guided that they are hopeful that Anggoci and Sisira will finally achieve their COD soon.
CGS-CIMB Research analysts William Tng and Izabella Tan have kept their “add” call on ISDN Holdings with a higher target price of 61 cents from 55 cents previously, as the company’s mini hydropower plant in Indonesia, Anggoci, may obtain its commercial operation date (COD) by the end of the 1QFY2023.
ISDN currently has three hydropower plants. Lau Biang 1 (LB1), Anggoci and Sisira. They are all located in North Sumatra in Indonesia. LB1 and Anggoci have capacities of 10MW each while Sisira has a capacity of 4.6MW. LB1 received its COD as at Dec 31, 2022. The plant would have contributed $2.0 million to the company’s patmi for the 9MFY2022 ended Sept 30, 2022 on a pro forma basis and in line with the analysts’ expectations, according to ISDN at its virtual investor briefing on Jan 13.
