Electricity Generating Public Company Limited or EGCO Group successfully completed the share transfer of 20.07% indirect ownership interest in “Salak” and “Darajat” geothermal power plants in Indonesia.

Mr. Chanin Chaonirattisai, President of EGCO Group said that “The affiliate of EGCO Group, Star Energy Group Holdings Pte. Ltd., and AC Energy Holdings, Inc. completely transferred the shares in “Salak” and “Darajat” geothermal power plants in Indonesia from Chevron’s affiliates on March 31, 2017 with EGCO Group’s investment interest of 20.07%. This investment is in line with EGCO Group’s strategic plan to expand its business in renewable power generation in Asia Pacific region.”

The two geothermal power plants are located in West Java, Indonesia and consist of several geothermal steam and electricity generating units with the aggregate capacity of 402 MW of electricity and 235 MW equivalent of steam. The power plants have secured long-term energy sales contracts with PT PLN (Persero), the Indonesian government-owned electricity corporation.