Navigat appoints new CEO, Exec Chairman
Friday, May 16 2014 - 12:27 AM WIB
Navigat Group, the South East Asian gas-to-power specialist, on Wednesday announced the promotions of Arno Hendriks to CEO and of Willi Goldschmidt to Executive Chairman, a newly created role.
These appointments take effect immediately, the company said. As CEO, Hendriks will head the entire Group, with a focus on building it into a leading distributed power company in the region. Goldschmidt, 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.
Hendriks is currently CFO 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 and seasoned Indonesian investors.
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. 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.
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."
The Navigat Group 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 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.