We are very happy to announce that Star Energy Consortium have signed Share Sale and Purchase Agreements with Chevron Global Energy Inc, Union Oil Company of California and their relevant affiliates (collectively, "Chevron") for the purchase of Chevron's geothermal operations in Indonesia and Philippines on December 22, 2016.
 
Star Energy Consortium includes Star Energy Group Holdings, Star Energy Geothermal, AC Energy (Affiliates of Ayala Group in Philippines) and EGCO (from Thailand). For the acquisition of Chevron geothermal operations in Indonesia, Star Energy Group Holdings and Star Energy Geothermal holds majority ownership (68.31% ownership), followed by AC Energy (19.3%) and EGCO (11.89%)
 
Major Chevron geothermal assets in Indonesia includes, Salak and Darajat geothermal fields which generate 413 MW geothermal and supply 275 MW of steam. Chevron geothermal assets in Philippines includes Tiwi-Makban geothermal field which currently is producing approximately 326 MW of steam.
 
This transaction is a major step for Star Energy Group to become one of the biggest geothermal operator in the world and to achieve its vision of becoming the geothermal operator of at least 600 MW in 2028.

Star Energy Geothermal