Mr. Chanin Chaonirattisai, President of Electricity Generating Public Company Limited or EGCO Group disclosed that “Star Energy Geothermal Pte Ltd. (SEG) in which EGCO Group holds 20% indirect ownership interest, has entered into negotiation for tariff adjustment with Indonesian electricity authority Perusahaan Listrik Negara (PLN) and got the approval on tariff adjustment on June 27, 2016. The adjusted tariff under energy sales contract has been increased by 40% on average from the existing tariff, enabling EGCO Group to immediately recognize additional earnings in proportion of its shares.”

SEG owns and operates “Star Energy” geothermal power plant located in Bandung, West Java, Indonesia. The power plant has the total installed capacity of 227MW comprising 2 units of 110MW and 117MW, which started commercial operations in 2000 and 2009 respectively. SEG sells its electricity output to PLN under long-term energy sales contract with the right to sell electricity up to 400MW. SEG is currently developing two additional geothermal power projects.