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Barito Pacific finalises acquisition of 2/3 stake in Star Energy in Indonesia

Darajat III geothermal plant, Indonesia (source: Thorndon Cook)
Alexander Richter 17 Jul 2018

PT Barito Pacific Tbk has finalised the acquisition of a 66.67% majority stake in Star Energy Group Holdings Pte Ltd. for $755 million.

PT Barito Pacific Tbk has finalised the acquisition of a majority stake in Star Energy Group Holdings Pte Ltd. We previously reported on the acquisition and efforts by the company to finance it.

The company now reported this month that it has paid $755 million for a two-third stake in Star Energy. Geothermal power company Star Energy has a total power generation capacity of 875 MW in Indonesia.

Barito Pacific has used proceeds of IDR 7.4 trillion (about $516 million) from a rights issue that was recently concluded.

Source: Renewables Now