ABM unit acquires independent power plants in Aceh

By Ruli Setiawan

PT Sumberdaya Sewatama, a power solution provider and a unit of PT ABM Investama, completed its 70 percent acquisition of independent power plant company PT Energi Alamraya Semesta (EAS) having secured notification letter from the Ministry of Law and Human Rights on Tuesday.

PT Pradipa Aryasatya, a Sewatama subsidiary active in independent power provider business with thermal energy sector, served as a vehicle for the acquisition which is valued at US$7 million.

EAS, established in 2008 as a coal-fired power producer (CFPP) with steam turbine in Aceh, will supply electricity to state owned utility firm PT Perusahaan Listrik Negara (PLN) and provide mine-mouth power for PT Media Djaya Bersama (MDB), one of ABM group?s subsidiary with coal concession in Aceh.

?Having Sewatama use EAS to supply power to our coal concession in Aceh is part of consolidating our position as an integrated energy company and confirming our commitment in optimizing the business of our subsidiaries,? said ABM Investama President Director Andi Djajanegara in a media release.

In the first quarter 2012 report, Sewatama reached 944.8 MW, or 74.16 percent of its 1,274 MW target. Revenue also increased to US$30.14 million, up 21.8 percent from total income in the same period the previous year.

Editing by Dadan Wijaksana