Thailand-based EGCO takes 20% stake in Chevron geothermal assets in Indonesia
Thailand-based company EGCO has acquired a 20% stake in two geothermal power plants in Indonesia, as part of a deal by Philippines-based Ayala Corp. and Indonesian Star Energy involving the sale of geothermal assets by Chevron in Indonesia.
As reported in Thailand, listed Thai Electricity Generating Plc. (EGCO) has completed the acquisition of a 20.07% share in the two geothermal assets sold by Chevron in Indonesia.
The deals were done through the company’s subsidiaries, Start Energy Group Holdings and AC Energy Holdings, which acquired this stake in the Salak and Darajat geothermal power plants in Indonesia.
The deal was closed 31 March 2017, as we reported before. The Thailand-based EGCO started investing in Indonesia in 2014, buying a 20% indirect ownership stake in Star Energy Geothermal.
The company has a strategic plan in expanding its business in renewable energy generation in the Asia-Pacific region and is also developing renewable energy projects in Thailand.
Source: Bangkok Post