Adaro, EGAT plan cooperation in power projects
Tuesday, December 19 2017 - 01:15 AM WIB
IDX-listed coal giant PT Adaro Energy Tbk and the Electricity Generating Authority of Thailand (EGAT) have agreed to expand their business partnerships including to develop new power plant projects, kontan.co.id reported.
The news portal said that top officials of the two companies met in Bangkok on Monday. ?We agree to expand business partnerships in the development of power plants with Adaro, our key partner. Not only in coal-fired power plants, but also renewables such as hydro and solar,? said President of EGAT International Watchara Hemruchatanun, but did not provide further details.
EGAT operates own power plants in Thailand with combined capacity of 15,548 MW. The company has been purchasing coal from Adaro for the past ten years at a volume of about 2-3 million tons per year. Last year, EGAT acquired an 11.53 percent stake in coal miner Adaro Indonesia, a subsidiary of Adaro Energy.
Adaro Energy plans to develop new power plant projects in Indonesia with combined capacity of 2.260 MW. The company aims to further expand the capacity to around 3,000 MW soon. (*)