<article>Qatar&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Nebras+Power">Nebras Power</a> plans to acquire a 35.5 percent stake held by French utility <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Engie">Engie</a> in Indonesia&#8217;s largest independent power producer <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=PT+Paiton+Energy">PT Paiton Energy</a> by the end of 2016, the CEO of Nebras said on Monday.</article>

Qatar&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Nebras+Power">Nebras Power</a> plans to acquire a 35.5 percent stake held by French utility <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Engie">Engie</a> in Indonesia&#8217;s largest independent power producer <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=PT+Paiton+Energy">PT Paiton Energy</a> by the end of 2016, the CEO of Nebras said on Monday.
The Qatari infrastructure investment firm, 60 percent owned owned by <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Qatar+Electricity+and+Water">Qatar Electricity and Water</a>, with the remainder split between <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Qatar+Petroleum+and+Qatar+Holding">Qatar Petroleum and Qatar Holding</a>, said in February it planned to acquire the stake in PT Paiton.
Engie currently has a 40.5 percent stake, with the remainder held by Japan&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Mitsui">Mitsui</a>, <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Tokyo+Electric+Power">Tokyo Electric Power</a>, and Indonesia&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=PT+Batu+Hitam">PT Batu Hitam</a>, according to Engie&#8217;s website.
&#8220;The Paiton project we are in the process of closing now. We are targeting the end of this year,&#8221; Khalid Jolo told Reuters.
Jolo declined to comment on the value of the stake but Nebras Power&#8217;s chairman, Fahad al-Mohannadi, told state news agency QNA in October that it planned to invest $1.35 billion in Indonesia&#8217;s Paiton project for producing electricity.
Qatar, the world&#8217;s biggest liquefied natural gas producer, founded Nebras in 2014 as a $1 billion investment arm to add foreign power and water assets to stakes it already had in businesses from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Volkswagen">Volkswagen</a> to <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Harrods">Harrods</a> department store in London.
It has invested in solar power projects in Jordan and acquired a stake in the Oman-based <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Phoenix+Power+Company">Phoenix Power Company</a>.
Nebras is studying the feasibility of building a power plant in Senegal, Jolo said. &#8220;We are trying to develop a project there. Once it [the feasability studies] are approved we&#8217;ll go ahead with that project,&#8221; he said.
Jolo said Nebras would decide by 2017 whether to invest in a 500 megawatts natural gas-fired power plant that it said last year it was considering building with Indonesian utility <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=PT+PLN+">PT PLN </a>(Persero).
<h4>Reuters</h4>

Qatar's Nebras Power plans to acquire a 35.5 percent stake held by French utility Engie in Indonesia's PT Paiton Energy by the end of 2016

Qatar's Nebras likely to buy Engie's stake in Indonesia's Paiton Energy

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Qatar's Nebras likely to buy Engie's stake in Indonesia's Paiton Energy

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