By Rara Suratmi
IDX-listed PT Radiant Utama Interinsco Tbk (IDX: RUIS) announced that its subsidiary, PT Supraco Indonesia (SPC), has agreed to sell its remaining 5% stake in PT Sorik Marapi Geothermal Power (SMGP), operator of the Sorik Marapi geothermal power plant in North Sumatra.
According to a disclosure on Monday, SPC signed two conditional share sale and purchase agreements on July 25, 2025. Under the deal, SPC will divest 1.43% of its shares in SMGP to KS Orka Renewables Pte. Ltd, and 3.57% to OTP Geothermal Pte. Ltd (OTP G), subject to the fulfillment of conditions in each agreement.
The transaction will effectively transfer the entirety of SPC’s 5% holding in SMGP, ending RUIS’s indirect ownership in the project.
Read also: SMGP completes final unit at Sorik Marapi geothermal plant
KS Orka Renewables currently holds a 95% stake in SMGP and is majority-owned by China’s Kaishan Group, with Iceland’s Hugar Orka ehf as a minority shareholder.
The Sorik Marapi geothermal power plant reached a significant milestone in December 2024 when it completed the commissioning of its fifth unit, bringing the installed capacity to approximately 215 MW. Unit 5, with a capacity of 35 MW, joined four previously operational units: 45 MW each for Units 1 and 2, 50 MW for Unit 3, and 39.6 MW for Unit 4.
SMGP is located in Mandailing Natal Regency, North Sumatra, and is part of Indonesia’s strategic push to expand renewable energy generation. The project aims to reach a total capacity of 240 MW.
Financial terms of the share sale were not disclosed.
Editing by Reiner Simanjuntak
