Sale in Darajat geothermal holdings boosts profits of plantation firm, Indonesia
As part of the sale of Chevron's geothermal assets in Indonesia, PT Austindo Nusantara Jaya has sold its complete ownership in PT Darajat Geothermal Indonesia and its 5% share in PT Star Energy Geothermal for around $30.5 million.
Indonesian plantation company PT Austindo Nusantara Jaya Tbk recently announced a rise in profits following its sale of shares from – among others – PT Darajat Geothermal and in PT Star Energy.
In September 2017, the company sold its complete 99.99% ownership in PT Darajat Geothermal Indonesia to Star Energy Geothermal (Saolak – Darajat) BV and PT Barito Pacific TbK for $30.1 million and its complete 5% ownership in PT Star Energy Geothermal Suoh Sikincau to PT Barito Pacific Tbk for $325k.
The gain for the company on the sale was $22.5 million.
Source: Rambu Energy