BCPG gets nod to acquire Star Energy?s shares
Friday, June 16 2017 - 12:40 AM WIB
Thai firm BCGP PCL reported on Wednesday that its shareholders have approved large scale geothermal investment in Indonesia.
The shareholders? extraordinary meeting held on Tuesday approved the investment through acquisition of 33.3 percent shares of Star Energy Group Holdings Pte. Ltd. with capital investment not exceeding US$357.7 million.
In April this year BCPG signed deal to invest in Indonesia through equity acquisition in Star Energy Group Holdings Pte. Ltd, which controls geothermal power plant and steam with total power production capacity of 995MW.
Through the investment BCPG will hold indirect 20% stake in 347 MW Wayang windu power plant, 17.3% in 377MW Salak power plant and 17.3% in 271MW Darajat power plant, all are located in West Java.