EGCO Group acquires 20% stake in Star Energy Geothermal
Tuesday, November 11 2014 - 05:04 AM WIB
Thailand?s EGCO Group has acquired a 20 percent indirect ownership in Star Energy Geothermal Pte Ltd (SEG), which operates two geothermal power plants in Indonesia.
EGCO said in a third quarter report on Monday that SEG invests in two geothermal power stations in Indonesia with combined capacity of 227 MW, and has signed long-term power sales contract with state-owned electricity firm.
?Moreover, SEG is developing other two geothermal power projects of which the energy sales contract (with PLN) are expected to be signed in a near future,? EGCO said without providing details.
The SEG existing geothermal power plants are the Wayang Windu unit I and II power stations located in Bandung, West Java. Unit I was completed in 1999, while the II in 2009. The Wayang Windu plants dispatch the electricity into West Java grid system.
Editing by Reiner Simanjuntak