Reliance Power to Sell Indonesian Units for $12 Million

01 Oct 2025 CW Team

Reliance Power on Monday announced that it will divest its entire stake in several Indonesian step-down subsidiaries to Singapore-based Biotruster Pte Ltd for about $12 million.

A share purchase agreement has been signed between Reliance Power Netherlands BV, Reliance Natural Resources (Singapore) Pte Ltd and Biotruster (Singapore) Pte Ltd. The transaction covers the sale of 100 per cent equity in PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi and PT Sriwijaya Bintang Tiga Energi.

The deal, which is subject to customary approvals and conditions precedent, will see Reliance Power receive around $12 million upon completion. The company clarified in a regulatory filing that the buyer has no links to its promoter group or affiliated companies.

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