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View all search resultsEksploitasi Energi to acquire power plant
JAKARTA: Publicly listed PT Eksploitasi Energi Indonesia, which is engaged in coal trading, plans to acquire a majority stake in independent power producer PT Tenaga Listrik Bintan as part of its expansion in the electricity business
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J
AKARTA: Publicly listed PT Eksploitasi Energi Indonesia, which is engaged in coal trading, plans to acquire a majority stake in independent power producer PT Tenaga Listrik Bintan as part of its expansion in the electricity business.
“The company will take over Tenaga Listrik’s 60 percent share from PT Sakti Mas Mulia,” Eksploitasi Energi said in a file submitted to the Indonesia Stock Exchange.
Other shareholders of Tenaga Listrik are PT Menamas (25 percent), PT Pembangunan Kepri (10 percent) and PT Multi Resources Investama (5 percent).
Eksploitasi Energi said that the acquisition, expected to further strengthen its business in power generation, would cost Rp 48 billion (US$5 million).
Tenaga Listrik will develop a coal-fired power plant with a capacity of 2 x 10.8 megawatt located in Tanjung Pinang, Riau Islands. The company has signed a power purchase agreement (PPA) with state owned electricity company PT Perusahaan Listrik Negara, which will act as the buyer of the electricity.
