Pertamina NRE acquires 20% stake in CREC for $115 million
Pertamina New & Renewable Energy (Pertamina NRE), a subsidiary of an Indonesian State-Owned Enterprise, has signed a share subscription agreement with Citicore Renewable Energy Corporation (CREC). Pertamina NRE will acquire a 20% stake in CREC by subscribing to 2,232,143,036 common shares at PhP 3.00 per share, amounting to approximately $115 million. This partnership gives Pertamina…