PT Medco Energi completed the acquisition of a 14% stake in Paiton Coal Thermal IPP Project from Jera.

PT Medco Energi, a public stock listed Indonesian oil and gas company, completed the acquisition of a 14% stake in Paiton Coal Thermal IPP Project, a coal power plant, from Jera, the largest power generation company in Japan. Financial terms were not disclosed. JERA will continue to renew its portfolio going forward, selling assets and reinvesting the proceeds as it optimizes its asset allocation for compatibility with a changing business environment and seeks to expand earnings.