Adaro Energy


Adaro Energy Tbk is Indonesia's second-largest coal miner by production volume and its largest by market capitalisation. The company is an Indonesian energy group that focuses on coal mining through subsidiaries. The principal location is at Tabalong district in South Kalimantan, where the subsidiary PT Adaro Indonesia operates the largest single-site coal mine in the southern hemisphere. Adaro Energy operates under a first-generation CCA with the Indonesian Government valid until 2022.
Adaro has been clearing land in Central Java for a 2,000MW coal plant, after a delay for more than four years due to land acquisition issues. The construction of Indonesia's largest coal plant, into which Adaro invested $4.2 billion, began in June 2016.
Adaro's strategy focuses on power generation as of the company's "three pillars" besides coal exports and logistics.

History

In 1976 the Indonesian Mines Department divided East and South Kalimantan into eight coal blocks and invited tenders for these blocks. Spanish state-owned enterprise Enadimsa bid for Block 8 in the Tanjung district of South Kalimantan. Adaro Indonesia’s Coal Cooperation Agreement was signed on Nov. 2, 1982. In 1989 a consortium of Australian and Indonesian companies purchased 80% of Adaro Indonesia from Enadimsa.
In 2008, Adaro Energy raised $1.3 billion in the country's largest ever initial public offering.