JERA has completed the sale of its 14% stake in the Paiton Coal Thermal IPP Project in Indonesia. The buyer is PT Medco Daya Energi Sentosa, a wholly-owned subsidiary of PT Medco Daya Abadi Lestari.

JERA is the largest power generation company in Japan, producing about 30% of the country's electricity. It operates a wide range of businesses around the world, from extracting and transporting fuel resource to generating power and selling electricity and natural gas.

PT Medco Daya Abadi Lestari is the parent company of Indonesia’s leading integrated energy and mining group. Its operations include electricity generation and power business, with gross contracted Independent Power Producer (IPP) and Operation and Maintenance (O&M) capacity of 3,469 megawatts (MW).

The operating company PT Paiton Energy runs two coal-fired power stations. The 1,230MW Paiton I was built in 1999, and is a sub critical pressure coal-fired power generation facility. The 815MW Paiton III was built in 2012, and uses super critical technology.

JERA says it 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.