Aug 09 2023

The Jakarta Post, Jakarta - PT Energia Prima Nusantara (EPN), a company that is 51.01 percent owned by PT United Tractors (UT) and 48.99 percent owned by PT Pamapersada Nusantara (PAMA), signed a Subscription Agreement (SSA) on Monday (7/8) to acquire 40.476 percent of a set of new shares issued by PT Supreme Energy Sriwijaya (SES). SES is one of the shareholders of PT Supreme Energy Rantau Dedap (SERD), owner of a geothermal license with an existing capacity of 2 x 49 MW that has been operating in Lahat regency, City of Pagar Alam, and Muara Enim regency, all in South Sumatra. Prior to the rights issue, SES was owned by PT Supreme Energy (SE). Other than SES, SE also had investments in two other geothermal projects, one in Muara Laboh and another in Rajabasa.

“Investment at PT Supreme Energy Sriwijaya is aligned with the company’s business development strategy and is part of our commitment to continue developing green energy business as part of UT Group’s 2030 Sustainability Aspiration,” said Frans Kesuma, president director of UNTR, in a press release. SERD has the opportunity to increase its capacity up to a total of 2 x 110 MW in the future, in accordance with its Power Purchase Agreement (PPA) with PLN. The signing of the SSA was effected by Chinthya Theresa Am and Boy Gemino Kalauserang, president director and director of EPN, respectively, as well as Supramu Santosa and Nisriyanto, president director and director of SES, respectively.

The signing is also witnessed by Frans Kesuma as President Director UT, Hendra Hutahean as President Director PAMA, as well as Aditya Praristama as Commissioner of SE. Completion of the transaction is conditional on satisfaction of certain conditions set by the parties. About the companies Established in 2014, PT Energia Prima Nusantara (EPN) since 2018 has focused on the development of renewable energy, owning business portfolios in green energy such as the distribution and installation of solar photovoltaic arrays and minihydro power plants, and is continuing to develop into other energy sectors.

PT Supreme Energy Sriwijaya (SES) was established in 2010, focusing on the development of geothermal energy with experience and competence in conducting exploration, construction and operation in generating geothermal energy. SES is one of the sponsors in the geothermal project of PT Supreme Energy Rantau Dedap (SERD), which achieved its commercial operation date on Dec. 26, 2021.

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