TGRA's Business Prospect from Renewable Energies

By Editorial Team 27/09/2019
Summary

PT Terregra Asia Energy Tbk (TGRA) plans to increase the working capital through private placement by issuing 305 million shares or 10 percent of the company’s stock. Priced around Rp 680-Rp 875 per share, the energy company can raise around Rp 207.4 billion-Rp 266.8 billion worth of fresh funds. They will use the money to fund its sub-holdings to construct new renewable energy power plants within five years, producing 600 megawatts.

On the other hand, the corporate secretary of TGRA, Christian Soweito, revealed to Kontan that some money raised from the private placement would go the business expansion to Australia and some of it would fund the development of solar-powered power-plants, producing 25 megawatts of electricity. By August 2019, the project, expected to finish next year, has completed five megawatts. However, TGRA will collaborate with foreign renewable energy companies to build other power plants all across Indonesia.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.