Aiming to expand its business in the renewable energy sector, Mitsubishi Corporation (“MC”) has agreed to acquire 20% shares of Star Energy Geothermal Pte Ltd. (“SEGPL”). SEGPL is a holding company that manages operation of the Wayang Windu Geothermal Power Project Plant (“Wayang Windu”), a geothermal power plant stably operating since June, 2000 in Java Island of Indonesia.
Wayang Windu, which owns approximately 13,000 hectares of contract area, is known as one of the world’s largest geothermal resources with a potential gross capacity of 420MW. Located in the midst of a vast expanse of a tea plantation, it is also known to be one of the world’s most environmentally friendly and beautiful geothermal plants.
This acquisition marks MC’s‘first entry into the Indonesian power industry and its first operation of a geothermal power plant. Through SEGPL, MC is aiming to develop and operate multiple geothermal power plants in Indonesia, including the expansion of Wayang Windu.