Barito Pacific completes acquisition of majority shares in Star Energy
PT Barito Pacific has completed the acquisition of the 66.67% majority shares in the local Indonesian geothermal power producer Star Energy Group Holdings. The majority interest was acquired for US$755 million.
Barito Pacific has used IDR 7.4 trillion (USD 515.6m) in proceeds from a recently-completed rights issue to fund the purchase. Overall, the rights issue has raised a total of IDR 8.5 trillion. The rest of the proceeds will be used to finance the working capital needs of the company's subsidiaries.
Star Energy owns plants with a combined capacity of 875 MW.
Country updates
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July 03, 2018
The project has been inaugurated
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June 01, 2018
BAM International acquires Strukton's stake in tidal bridge project in Indonesia
BAM International bv has announced it will acquire Strukton International’s majority share in the joint venture Tidal Bridge BV, established in 2015 to develop floating power...
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May 09, 2018
The third unit of the project has been switched on, bringing the entire complex into commercial operation
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April 25, 2018
1,000 MW geothermal capacity up for tender in Indonesia
Indonesian state-owned utility PT PLN (Persero) has issued a request for proposals (RFP) for up to 1 GW geothermal projects. Interested parties are invited to submit bids to develop both geothermal st...
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April 23, 2018
MoU signed for US$17.8 billion hydropower project in Indonesia
Power Construction Corporation of China (PowerChina) and PT Indonesia Kayan Hydropower Energy have signed a memorandum of understanding (MoU) to develop a hydropower project with a tota...
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