Wednesday, August 10, 2016

Indonesia: PT Pertamina Geothermal Energy (PGE) to Be Controlled by PLN (Persero)

PLN plans to acquire PGE to boost geothermal development (Jakarta Post)

State electricity company PLN (Persero) is set to acquire a stake in state energy giant Pertamina in PT Pertamina Geothermal Energy (PGE) as part of efforts to speed up geothermal power supply to the electricity firm.

Pertamina currently holds a 100 percent stake in PGE. Pertamina president director Dwi Soetjipto said the company was currently conducting due diligence on the acquisition, highlighting its willingness to sell some of its stake in PLN for the greater good of the nation.

It is expected that the acquisition will help accelerate the development of geothermal power plants in Indonesia.

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