Thailand, Indonesia:

Thailand Company Buys Stake in Indonesian Geothermal Power Plant (Reuters Africa)

Location of the Wayang Windu Geothermal Power Plant
(Courtesy Star Energy)

Thailand's second-largest private power producer, Electricity Generating PCL (EGCO), said it spent $215 million to buy a 20 percent indirect stake in Indonesia's Star Energy Geothermal Pte (SEG) as part of its regional expansion.

SEG owns the 227 MW Wayang Windu geothermal power plant located 40 km south of Bandung in West Java in Indonesia. It is also developing another two power plants and wants to expand the power generation business into Southeast Asia, EGCO said in a statement on Monday.

EGCO, like other Thai power producers, is looking for opportunities to expand overseas as a slowing economy dampens demand at home.