August 31, 2016 12:18 PM ET

Independent Power and Renewable Electricity Producers

Company Overview of PT. Medco Power Indonesia

Company Overview

PT. Medco Power Indonesia owns and operates gas-fired power plants in Batam Island and Palembang. The company develops and operates small-to-medium size independent power projects in Indonesia; and provides power project services with business activities, including operating and maintenance power plant services, as well as project engineering, procurement, and construction. It focuses on small to medium independent power producers in domestic and international markets. The company was founded in 2004 and is based in Jakarta, Indonesia. PT. Medco Power Indonesia operates as a subsidiary of Pt Saratoga Power.

The Energy 50th floor

SCBD Lot 11A

Jl. Jenderal Sudirman

Kav. 52-53

Jakarta,  12190


Founded in 2004


62 21 2995 3300


62 21 2995 3301

Key Executives for PT. Medco Power Indonesia

President Director
Age: 50
Chief Financial Officer and Director
Age: 39
Chief Operation Officer and Director
Age: 58
Managing Director
Chief Business Development Officer and Director
Age: 39
Compensation as of Fiscal Year 2016.

PT. Medco Power Indonesia Key Developments

Amata B. and Global Power Synergy In Talks To Buy Majority Stake In Medco Power

Global Power Synergy Public Company Limited (SET:GPSC) and Amata B.Grimm Power Limited have submitted a bid to acquire more than 51% of PT. Medco Power Indonesia, Amata B. Grimm Power's President, Preeyanart Soontornwata, told Reuters. Amata B. Grimm and Global Power are in exclusive talks with Indonesia's PT Saratoga Investama Sedaya Tbk (JKSE:SRTG). Soontornwata added that deal is expected to be finalized in mid-June 2016 and the company will use cash and loans to finance the purchase. A spokesman for Saratoga told Reuters that it is in talks with several parties to sell a stake in the company but declined to give further details. Global Power declined to comment, Reuters added.

PT. Medco Power Indonesia Presents at 2nd Annual Indonesia Infrastructure Finance Conference, May-24-2016 02:10 PM

PT. Medco Power Indonesia Presents at 2nd Annual Indonesia Infrastructure Finance Conference, May-24-2016 02:10 PM. Venue: Grand Hyatt, Jakarta, Indonesia. Speakers: Fazil E. Alfitri, President Director.

Many Buyers Emerge For Chevron Assets

China Investment Corporation, Malakoff Corporation Berhad (KLSE:MALAKOF) and Ormat Technologies Inc. (NYSE:ORA) are among companies weighing bids for Chevron Corporation's (NYSE:CVX) Asia geothermal assets, which could fetch as much as $3 billion, people with knowledge of the matter said. Energy Development Corporation (PSE:EDC), Aboitiz Power Corp. (PSE:AP) and Marubeni Corporation (TSE:8002) are also weighing offers for the assets, the people said. Mitsubishi Corporation (TSE:8058) and PT. Medco Power Indonesia are separately studying potential bids, according to company officials. Chevron is also seeking buyers for its stake in an Indonesian oil and natural gas field and for a 75% stake in its South African unit, people with knowledge of the matter have said. Citigroup Inc., which is advising Chevron on the geothermal asset sale, will call for indicative bids by the end of next month, the people said. Deliberations are at an early stage, and there’s no certainty the suitors will submit bids, according to the people. Some potential buyers are considering partnering for joint offers, they said. A spokesman for Mitsubishi said that the company is studying whether or not to bid. Medco Power President Director Fazil Alfitri said that the company is interested in acquiring Chevron’s geothermal assets and will seek a partner for a joint bid. A spokesman for Chevron said the company does not comment on mergers, acquisitions or divestitures of its assets. CIC and Malakoff didn’t immediately respond. Spokesman for Ormat said he couldn’t immediately comment. Representatives for Citigroup, EDC and Marubeni declined to comment. Aboitiz Power President Erramon Aboitiz did not respond.

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