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Climate Change

Mitsui divests from Indonesian coal plant operator

Paiton Energy jettisoned in trading house's decarbonization push

Mitsui will sell its 45.5% stake in Paiton Energy to a subsidiary of Thai power producer Ratch Group. (Photo courtesy of Paiton Energy)

TOKYO -- Mitsui & Co. will sell off its entire interest in an operator of Indonesian coal-fired power plants, the Japanese trading house said Tuesday, part of efforts to shrink the carbon footprint in the company's portfolio.

Mitsui agreed to sell its 45.5% stake in Paiton Energy to RH International (Singapore), a subsidiary of Thai power producer Ratch Group. The deal includes a transfer of shares in two other affiliated businesses.

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