Thai-listed BCPG to pick 33.3% in Indonesia’s Star Energy (DealStreetAsia)
BCPG (ex. Bangckak Petroleum Public Company Limited) has secured the approval from the Board of Directors to acquire one-third stake in Indonesia-based Star Energy Group for not exceeding $357.5 million. Both companies expect to enter into the transaction in the second quarter of this year, according to BCPG’s filing on Wednesday.
Following the acquisition, BCPG will hold stakes in three geothermal power plants in Indonesia with a combined production capacity of 182 MW. The three projects are top geothermal power plants in Indonesia. The largest plant is located in Sukabumi City in West Java with the installed capacity of 377 MW. The other two include the 227 MW geothermal power plant at Wayang Windu and the 271 MW Darajat project in Garut and Bandung.