JERA Sells its Shares in the Paiton Coal Thermal IPP Project in Indonesia
JERA Co., Inc. (“JERA”) completed the sale of its approximately 14% stake in the Paiton Coal Thermal IPP Project in Indonesia to PT Medco Daya Energi Sentosa, a wholly-owned subsidiary of PT Medco Daya Abadi Lestari.
JERA will continue to renew its portfolio going forward, selling assets and reinvesting the proceeds as it optimizes its asset allocation for compatibility with a changing business environment and seeks to expand earnings.
Overview of the Paiton Coal Thermal IPP Project
Operating company: PT Paiton Energy
Location: Paiton, Indonesia
Generation capacity: Paiton I: 1,230MW, Paiton III: 815MW
Generation type: Paiton I: Sub-critical pressure coal fired power generation
Paiton III: Supercritical pressure coal fired power generation
Commercial operation: Paiton I: 1999, Paiton III: 2012
Overview of PT Medco Daya Abadi Lestari
Details: The parent company of Indonesia's leading integrated energy and mining group.
The operations include electricity generation and power business with gross contracted IPP (Independent
Power Producer) and O&M (Operation and Maintenance) capacity of 3,469 MW.