BRPT Enters Geothermal Business

BRPT Enters Geothermal Business

Barito Pacific Tbk (BRPT) has entered the geothermal business by purchasing shares of Darajat Geothermal Indonesia (DGI) and Star Energy Geothermal Suoh Sekincau (SEGSS).

Agus Salim Pangestu, President Director of BRPT, said that the company has signed the sale and purchase agreement with Austindo Nusantara Jaya Tbk (ANJT) as a seller of 2.99 million shares or 4.99 percent of DGI on September 27, 2017. The transaction value reaches USD 1.51 million or approximately IDR 20.11 billion. BRPT also purchased 1,000 shares or 0.002 percent of DGI from George Santosa Tahija worth USD 481 or IDR 6.42 million.

The company also purchased 375 shares of Serial A, 1,125 shares of Serial B, and 1,500 shares of Serial C representing five percent of issued and paid capital of SEGSS from ANJT amounting to USD 325,000 or IDR 4.34 billion. The company has no affiliation with ANJT or George Tahija.

DGI is a subsidiary of Star Energy Geothermal BV. DGI has five percent of participating interest in the Darajat Geothermal 2 and 3 power plant projects with a total capacity of 216 MW. Meanwhile, SEGSS is working on a geothermal power plant project in Suoh Sekincau, Lampung with a capacity of 220 MW. (*)

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