Tata Power acquires 26 per cent stake in PT Baramulti Suksessarana

Tata Power acquires 26 per cent stake in PT Baramulti Suksessarana
Tata Power has acquired 26 per cent stake in PT Baramulti Suksessarana Tbk (BSSR), Indonesia through its 100 per cent subsidiary Khopoli Investments Limited (Khopoli).
Earlier, Tata Power had also signed a long-term coal supply agreement with PT Antang Gunung Meratus (AGM), a 100 per cent subsidiary of BSSR. 
Speaking on the development, Anil Sardana, Managing Director, Tata Power, said, “We recognise fuel security is key to support Tata Power’s growth agenda. This acquisition would aim to support our power generation projects in select geographies in the coming years.”
Tata Power’s existing Indonesia presence includes 30 per cent equity stake in PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia (AI). As part of the purchase, Tata Power has signed an offtake agreement which entitles it to purchase about 10 million tonnes of coal per annum.

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