Mau Caplok 20 Percent Saham Perusahaan Philippines, Pertamina: Masih Dijajaki

Pertamina (Photo: Antara)

JAKARTA - PT Pertamina Power Indonesia or Pertamina New & Renewable Energy (PNRE) has opened its voice regarding the news that it will acquire 20 percent of the shares of the company from the Philippines, Citicore Renewable Energy (CREC.PS).

Pertamina NRE Corporate Secretary Dicky Septriadi said Pertamina was still exploring the acquisition process. Pertamina is also still waiting for directions from the relevant authorities including the Ministry of State-Owned Enterprises (BUMN).

"Now the process is still being explored, and we make sure everything is in accordance with the stages. One of them is several directions and approvals from the authorities," said Dicky when contacted by VOI, Monday, January 13.

Quoted from Reuters, Pertamina will buy 20 percent of the shares in the pure renewable energy company for 6.70 billion pesos or 114.8 million US dollars.

"PT Pertamina Power Indonesia, a subsidiary of PT. Pertamina, will order 2.23 billion shares in Citicore for 3 pesos per share under the agreement," Citicore wrote.

Just so you know, Citicore is the largest solar power producer in the Philippines. Citicore management emphasized that the agreement will help develop renewable energy projects in Indonesia and expand the company's reach in Southeast Asia with a plan to contribute 1 gigawatt (GW) of green energy capacity per year.

"The funds from the ordering agreement will help the company develop its domestic green energy project network," said Citicore.