Thai utility Electricity Generating Public Co. (EGCO) has agreed to acquire a 20% interest in two geothermal power plants in Indonesia from Chevron.
The company and its partner AC Energy Holdings will buy shares in the Salak and Darajat facilities in West Java, which have a total capacity of 402MW of power and 235MW of heat.
The share transfer is expected to be completed in the first quarter of 2017.
EGCO first invested in Indonesia in 2014, when it bought a 20% interest in the 227MW Star Energy geothermal power plant.
“The acquisition fulfils our business plan in enhancing EGCO Group’s presence in Indonesia, where we have existing business, and is in line with our strategic directions to pursue investment opportunities in the Asia Pacific region,” President Chanin Chaonirattisai said.
Image: Ram Power
