Article

Jakarta, 29 August  2012 – PT Sumberdaya Sewatama (Sewatama), a power solution provider and subsidiary of PT ABM Investama Tbk (IDX: ABMM), announced 70 percent acquisition of independent power plant company PT Energi Alamraya Semesta (EAS) after receiving ratification notice from the Ministry of Law and Human Rights today. PT Pradipa Aryasatya, a Sewatama subsidiary active in thermal energy within the independent power sector served as a vehicle for the acquisition worth of US$7 million. 

EAS was established in 2008 as a coal-fired power producer (CFPP) with steam turbine in Aceh (northern Sumatra) to supply electricity to state-owned PLN and provide mine-mouth power to PT Media Djaya Bersama (MDB), one of ABM group’s subsidiary with coal concession in Aceh.

PT Sumberdaya Sewatama President Director Hasto Kristiyono said, “This acquisition is in line with our strategic plan to develop the independent power producer business. As the EAS majority shareholder, we aim to increase EAS power capacity and serve growing demand for power in the area around the plant.”

With more than 20 years’ experience, Sewatama is Indonesia’s largest temporary power service provider. To respond to higher demand for electricity, Sewatama expanded its reach into the independent thermal power plant and renewable energy. “With a constant growth in electricity demand, we are committed to supporting the government’s program for increasing electrification ratio nationwide,” said Hasto.

PT ABM Investama Tbk President Director Andi Djajanegara said, “Using EAS to supply power to our coal operations in Aceh is part of consolidating our position as an integrated energy company. It also reaffirms our commitment to optimizing the business of our subsidiaries.”

“Sewatama is one of ABM’s primary business units and contributes substantially to ABM’s overall growth. We strongly support the development of independent power producers for two main reasons -- to supply domestic electricity needs and add value to ABM as a group in responding to the challenges of meeting the growing demand for energy sector.”

In its first quarter 2012 report, Sewatama recorded 944.8 MW, or 74.16 percent of its 1,274 MW target. Revenue also increased to US$30.14 million, up 21.8 percent from total income in the same period the previous year.