Friday, September 14, 2018

Indonesia: Pt Barito Pacific Revenue Boosted by Income from 875 MW Star Energy Geothermal Assets

Pt Barito Pacific TBK Announced Results For The Period Ended 30 June 2018 (News Release)

The Pt Barito Pacific TBK (BRPT) results include the consolidation of Star Energy’s financials following acquisition of 66.67% stake in Star Energy (SEG) on 7th June 2018.

In June 2018, the company completed IDR 8.9 trillion Rights Issue, anchored by the major shareholder, Mr. Prajogo Pangestu, contribution of IDR .7 trillion. The successful acquisition of 66.67% ownership interest in SEG, includes a controlling stake in three geothermal assets (Wayang Windu, Salak and Darajat) with a total installed capacity of 875 MW.

EBITDA contribution from geothermal operations that were boosted by SEG’s
acquisition of Salak and Darajat geothermal assets netted by the decline in EBITDA from petrochemical business.

Through Star Energy, BRPT operates the largest geothermal company in Indonesia, which is also the third largest geothermal company in the world.

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