Wedoany.com Report-Aug. 2, Kaishan Co. Ltd., through its wholly-owned subsidiary KS Orka Renewables Pte. Ltd., has acquired 100% ownership of PT Sorik Marapi Geothermal Power (SMGP) by purchasing the remaining shares held by PT Supraco Indonesia for $3 million in cash. SMGP operates the Sorik Marapi geothermal power plant in South Sumatra, Indonesia, with a total installed capacity of 200 MWe.

Unit 1 of Sorik Marapi geothermal plant, North Sumatra, Indonesia

Previously, OTP Geothermal Pte. Ltd., acquired by KS Orka in 2016, held 95% of SMGP’s shares, while Supraco owned the remaining 5%. Following the transaction, OTP now holds 98.57% of SMGP shares, and KS Orka holds 1.43%. Supraco executives will no longer serve in director or supervisor roles at SMGP.

A Kaishan representative stated: “This acquisition strengthens our commitment to expanding renewable energy solutions in Indonesia. Full ownership of SMGP allows us to optimize operations and contribute to sustainable energy development in the region.”

In late 2024, SMGP began commercial operations of Unit 5 at the Sorik Marapi plant, adding 33 MWe to its capacity. This milestone enhances the facility’s role in providing clean, reliable energy to South Sumatra, supporting Indonesia’s renewable energy goals.

KS Orka has also expanded its global presence by securing a geothermal exploration license in Tura, Hungary. This move reflects the company’s strategy to grow its renewable energy portfolio beyond Indonesia, tapping into new markets with high geothermal potential.

The Sorik Marapi plant plays a vital role in Indonesia’s energy landscape, harnessing geothermal resources to deliver sustainable power. The acquisition aligns with Kaishan’s focus on advancing clean energy technologies and increasing operational efficiency in its geothermal projects.

By consolidating ownership, Kaishan aims to streamline decision-making and enhance the plant’s contribution to Indonesia’s energy mix. The transaction underscores the company’s commitment to supporting global renewable energy development through strategic investments and operational expertise.