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Thai private power company buys 20% stake in Star Energy Geothermal in Indonesia

Jakarta, Indonesia (source: flckr/ fidzonflickr, creative commons)
Francisco Rojas 11 Nov 2014

Reuters informs that Electricity Generating PCL from Thailand has just acquired a 20 percent indirect stake in Indonesia's Star Energy Geothermal for USD $215 million.

A recent news piece from Reuters states that Electricity Generating PCL, on the the largest private power producer in Thailand has invested USD $215 million buying 20% indirect stake in Star Energy Geothermal (SEG) from Indonesia.

The same source states that “SEG owns a 227 megawatt geothermal power plant located in Indonesia. It is also developing another two power plants and wants to expand the power generation business into Southeast Asia, EGCO said in a statement on Monday.”

The rationale behind the acquisition seems to be motivated to expand internationally since the Thai markets are suffering from a slowdown in economic growth.

Source: Reuters