Tuesday, January 17, 2017

Indonesia: 30 MW Sokoria Geothermal Project Sale Completed

Xped Ltd - KS Orka Completes Acquisition of Sokoria Geothermal Project (News Release)

Xped Limited has announced the completion of the Conditional Sale and Purchase Agreement (CSPA) with Singapore based KS Orka Renewables Pte Ltd.

As announced on 2nd August 2016, the company advised it had entered the CSPA with KS Orka to acquire the company's 45% shareholding in PT Sokoria Geothermal Indonesia (SGI).

Completion of the CSPA has now been satisfied following the recent approvals granted by PT PLN (Persero) for the change of shareholding interest to KS Orka under the Power Purchase Agreement and approvals from BKPM (the Investment Coordinating Board of the Republic of Indonesia), and the extension of the exploration period under the IPB held by SGI for one year.

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