September 26, 2016 5:24 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

Indonesia

Founded in 2004

Phone:

62 21 2995 3300

Fax:

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

Chevron's Asian Geothermal Energy Assets Reportedly For Sale

China General Nuclear Power Corporation has been invited to make a second-round bid for Asian geothermal energy assets of Chevron Corporation (NYSE:CVX) which could fetch $3 billion, according to people with knowledge of the matter. PT. Medco Power Indonesia is considering joining a separate shortlisted consortium that includes Marubeni Corporation (TSE:8002) and Aboitiz Power Corp. (PSE:AP), said the people, who asked not to be identified because the information is private. Citigroup Inc., Chevron's adviser on the sale, will call for second-round bids later this month, the people said. Representatives for Marubeni, Aboitiz and Citigroup declined to comment, while a representative for China General Nuclear didn't respond to a Bloomberg inquiry. A Singapore-based spokesman for Chevron said the company doesn't comment on market rumour or speculation concerning mergers, acquisitions, or divestitures of its assets.

B.Grimm Power Will Not Buy Medco Power

B.Grimm Power Co., Ltd. recently decided to cancel its plan to acquire PT. Medco Power Indonesia after re-evaluating the risk factors, President Preeyanart Soontornwata said.

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.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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