Jakarta. United Tractors (UNTR), a subsidiary of Astra International (ASII), has finalized its acquisition of geothermal company Supreme Energy Rantau Dedap for $80.58 million (approximately Rp 1.25 trillion) on Friday.

The acquisition, made through UNTR’s subsidiary Energi Prima Nusantara from key shareholders such as MeriT Power Holdings BV, Axia Power Holdings BV, Tohoku Power Investment Company BV, and Inpex Geothermal Ltd, underscores UNTR’s commitment to expanding its renewable energy portfolio, particularly in geothermal energy. This move aligns with Indonesia's efforts to transition to cleaner energy and reduce carbon emissions.

The adjustment in transaction value followed the signing of the agreement on October 15. According to Corporate Secretary Sara K Loebis, geothermal energy has substantial potential in supporting the country’s green energy goals.

In addition to its renewable energy initiatives, United Tractors is expanding its presence in the mineral commodities sector, with exploration efforts focused on gold, silver, and nickel. Between July and September 2024, the company allocated Rp19.6 billion for exploration at two key mining sites: the Sibolga gold and silver mine in North Sumatra, and the nickel mine in North Konawe, Southeast Sulawesi.

At Sibolga, exploration was conducted through UNTR’s subsidiary, Agincourt Resources (PTAR), which spent Rp15.41 billion during the period. Drilling reached depths of 3,406 meters in July, 2,991 meters in August, and 2,784 meters in September.

Meanwhile, exploration at the nickel mine in North Konawe, carried out by Stargate Dua Pasific Resources (SDPR), involved drilling at 128 points in Alenggo and Lameruru, Langgikima district, with Rp4.24 billion spent between July and September.

Sara emphasized that expanding into mineral commodities is part of UNTR’s long-term strategy to diversify its business portfolio. "While we haven't yet announced new pipelines for the mineral sector, it remains a priority moving forward," she said.

UNTR’s diversification into non-coal sectors is aimed at navigating global energy market shifts and capitalizing on rising demand for minerals like gold and nickel. This expansion is also part of the company’s strategy to maintain business stability amid fluctuations in coal prices.