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Nebras Power denies market rumor of selling its stakes in Indonesia’s Paiton Energy

Paiton Power Plant (Image credit: Nebras)

JAKARTA (RambuEnergy) – Nebras Power of Qatar has denied market rumors that it was considering to sell its entire 35.5% shares in Paiton Energy, one of the largest independent power producer in Indonesia.

“We are committed to a long-lasting economic cooperation between Qatar and Indonesia and we hope to further strengthen the presence of Nebras Power in the Indonesian market,” Khalid Mohammed Jolo, Chief Executive Officer of Nebras, said in a statement.

“We express our continuing commitment to Indonesia, as part of our global investment strategy and currently we are not considering the sale of our stake in Paiton Energy,” Khalid Mohammed Jolo said.

Paiton Energy is one of the largest independent power producers (IPP) in Indonesia; with 2,045 MW of coal fired power generating capacity (representing c.4% of installed capacity in Indonesia), and c.13,500 GWh of annual power output.

Through this project, Nebras Power aims to strengthen its position in the global energy markets and support its ambition to grow and expand globally, the company said.

Nebras Power Q.S.C. (Nebras) acquire the 35.5% shares in PT Paiton Energy from ENGIE in 2017.

Paiton Energy is jointly owned by Nebras Power, Mitsui & Co, Jera Co. and PT Batu Hitam Perkasa.

Paiton Energy operates three power generating units (P7, P8 and P3) at the Paiton Power Complex in East Java.

P7 and P8 commenced commercial operations in 1999 and P3 in 2012.

All electricity produced and the capacity made available by Paiton is purchased by PLN under a long-term Power Purchase Agreement (“PPA”) until 2042.

The plants are operated and maintained by Paiton Operation & Maintenance Indonesia. (*)

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