Jera exits Indonesian coal power project
Japan’s Jera on August 20 said it had completed the sale of its stake in an Indonesia coal-based power project.
The company sold its approximately 14% interest in the Paiton independent power project, operated by Paiton Energy, in Indonesia to Medco Daya Energi Sentosa, a wholly-owned subsidiary of Medco Daya Abadi Lestari.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
“Jera will continue to renew its portfolio going forward, selling assets and reinvesting the proceeds as it optimises its asset allocation for compatibility with a changing business environment and seeks to expand earnings,” it said.
The Paiton project has a capacity of 2.04 GW. Japanese trading house Mitsui sold its 45.2% stake in the project earlier this year.