Acquisition of additional interest in Darajat Geothermal Project in Indonesia (News Release)
The
Electricity Generating Public Company Limited (EGCO) has announced that
Star Energy Geothermal (Salak - Darajat) B.V. (SEGSD), the affiliate of EGCO (20.07% indirect ownership interest), Star Energy Group Holdings Pte. Ltd. and AC Energy Holdings, Inc. have entered into
Share Sale and Purchase Agreements with PT Austindo Nusantara Jaya Tbk (ANJ) on July 14, 2017 to acquire 95% share of PT Darajat Geothermal Indonesia (DGI). The share transfer was completed on September 27, 2017.
DGI holds the participating interest of 5% in Darajat Geothermal Project Unit 2 and Unit 3, which have total capacity of 216 MW. The transaction increases SEGSD's indirect ownership interest in Darajat Geothermal Project Unit 2 and 3 from 95% to 99.75% while SEGSD remains to hold 100% indirect ownership interest in Darajat Geothermal Project Unit 1.
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