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REUTERS/Fred Prouser

Baker McKenzie has advised Thailand’s Electricity Generating Public Company (EGCO Group) on its $485 million sale of stakes in three geothermal power plants in Indonesia to Star Energy Group Holdings, which was counseled by Clifford Chance.

EGCO had entered the energy business in Indonesia in 2014 through investments in Start Energy Geothermal and Star Phoenix Geothermal – which own interests in three geothermal power plants in West Java named Wayang Windu, Salak and Darajat - but decided to divest to rationalise its asset portfolio, the Bangkok Post reported.

The Bakers team was led by Bangkok partner Preeda Meksrisuwan.

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