Adaro Booted From Central Java Power Project

Independent power producer Sejahtera Alam Energy revealed on Thursday that Adaro Power will no longer participate in the construction of a 220-megawatt geothermal power plant in Baturaden, Central Java.

Ahmad Nugrah Juanda, Sejahtera Alam Energy’s president director, said Adaro had failed to keep its end of the bargain in the two companies’ cooperation agreement.

Ahmad said Trinergy Mandiri Internasional and Adaro signed a partnership accord in December 2011, in which the latter agreed to provide loans in exchange for 60 percent ownership in the venture. Adaro Power is a unit of Adaro Energy, Indonesia’s second-largest coal miner, while Sejahtera Alam Energy is a Trinergy subsidiary.

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Posted January 11, 2013 by repit in News

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