Indonesia's INA, Abu Dhabi firm Masdar invest $480m in Pertamina Geothermal's IPO

Indonesia's INA, Abu Dhabi firm Masdar invest $480m in Pertamina Geothermal's IPO

FILE PHOTO: Officials inspect a steam separator tower at Pertamina’s geothermal binary plant in Lahendong, Tomohon, North Sulawesi province, Indonesia, April 25, 2022. REUTERS/Fransiska Nangoy

Indonesian sovereign wealth fund (SWF) INA and Abu Dhabi-based renewable energy firm Masdar have picked up a 5% and 15% stake, respectively, in Indonesian state-owned geothermal firm PT Pertamina Geothermal Tbk’s initial public offer (IPO), according to PT Mandiri Sekuritas president director Oki Ramadhana.

Edited by: Joymitra Rai