TOKYO -- Japanese utility JERA has sold off its entire stake in an operator of coal-fired power plants in Indonesia as it joins a host of Japanese companies moving away from coal and reducing their carbon footprints, the company said on Friday.
The joint venture owned equally by Tokyo Electric Power Co. and Chubu Electric Power sold its 14% stake in Paiton Energy to Indonesian energy company Medco for an undisclosed sum. The transaction was completed on Thursday.
