This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily - PT PP jual saham perusahaan EBT ke Grup Salim
8 January 2023
Jakarta, ID – PT PP Tbk (PTPP), through its subsidiary, PT PP Energi, sells all its shares (divestment) in the new and renewable energy (NRE) company, PT Inpola Meka Energi, with the signing of sales and purchase agreement (SPA) over the ownership of the shares taking place on Thursday (28/12/2023).
PT PP Energi agreed to divest its 38.77% or 496,645 shares ownership in Inpola Meka Energi for Rp45.17 billion to PT Energi Infranusantara. Energi Infranusantara is one of the investors in renewable energy sector with over 11 years’ experience in Indonesia. Energi Infranusantara is a subsidiary of PT Nusantara Infrastructure Tbk (META), an entity of Salim Group.
Bakhtiyar Efendi, the Corporate Secretary of PTPP, explained that the fresh funds generated from the sale of PT Inpola Meka Energi's shares could increase the cash of PT PP Energi, resulting in greater liquidity in the company’s current asset position and its solvency is maintained. This was in line with the divestment of PT PP Energi's shares in PT Inpola Meka Energi and the company's financial recovery strategies, which included the divestment of some business portfolios.
“We believe that this corporate action will benefit PT PP Energi and PT PP Tbk as the majority shareholders,” Bakhtiyar Efendi stated in his official statement on Friday (5/1/2024).
PT Inpola Meka Energi is a company engaging in NRE sector and mini-hydro power plant (PLTMH) concession holder in Lau Gunung, Dairi Regency, North Sumatra. Inpola Meka Energi is also a power supplier with a capacity of 2x5 megawatts and its PLTMH has been operational since 2020. The presence of this PLTMH has provided significant advantages to Indonesia, particularly to the people of North Sumatra Province. (esa)
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