Tuesday, August 16, 2016

Indonesia: Tata Power Completes Sale of Geothermal Energy Asset

Tata Power arm closes $30 million stake sale in OTP Geothermal  (Moneycontrol.com)

Tata Power today said its Singapore-based subsidiary Tata Power International Pte (TPIPL) has completed sale of its 50 percent stake in OTP Geothermal Pte to KS Orka Renewables (KS Orka) for USD 30 million. 

TPIPL, wholly-owned subsidiary of Tata Power, had inked the stake sale agreement with KS Orka in April this year.

OTP is a 50:50 joint venture between Origin Energy Ltd and Tata Power International Pte (TPIPL). The company is developing the 240 MW Sorik Merapi Geothermal Power Project in North Sumatra, Indonesia.

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