MILAN, Oct 10 (Reuters) - Italian utility Enel said on Tuesday it had sold a 10 percent stake in Indonesian coal producer PT Bayan Resources Tbk for $85 million in cash.
In a statement it said it had sold the stake to Dato Low Tuck Kwong, Bayan’s controlling shareholder.
The sale, part of an 8 billion euro asset sale programme, is in line with Enel’s strategy of zeroing the carbon content in its generation mix by 2050.
But Enel CEO Francesco Starace said Indonesia remained a country of interest for the company.
“We are involved in geothermic work and are assessing opportunities for other renewable energy projects,” he said.
Reporting by Stephen Jewkes