China Datang Corp is nearing an agreement to buy a majority stake in three thermal power plants in Indonesia for about US$400 million, according to people familiar with the matter. The state-backed energy giant is in advanced talks with PT Dian Swastatika Sentosa for a 75 percent stake in its three independent thermal power plants with a total capacity of 600 megawatts, the people said. An announcement could come this week, said the people, who asked not to be identified as the discussions are private. In addition to the three independent thermal power plants, it also directly operates four captive power plants with a total capacity of about 300 megawatts, according to its website. Indonesian conglomerate PT Sinar Mas Tunggal is the largest shareholder of DSS with a 59.9 percent stake, while the rest is in public hands, according to data compiled by Bloomberg.

Source: The Standard December 29, 2020 03:15 UTC