Japanese thermal power joint venture, JERA is set to sell its entire stake in Indonesia’s Paiton Energy in east Java, as per latest reports. The power plant has a capacity of 2,045 MW and it sells electricity to the Indonesian state-owned power utility PLN, as part of a long-term contract. Japanese trading house, Mitsui has also agreed to sell its 45.2% stake in Paiton Energy in Jun’21. The stake sale of Japanese firms in coal-fired power generation facilities is noteworthy as it comes in the backdrop of the aim of Japanese companies to achieve carbon neutrality by 2050.
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