DOHA, 27th February 2016 (WAM) — Qatar’s Nebras Power has agreed to acquire a 35.5 percent stake held by French utility giant Engie in Indonesia’s largest independent power producer PT Paiton Energy, the state Qatar News Agency reported on Saturday.

With a 2 gigawatt (GW) capacity, PT Paiton is the largest independent power producer in Indonesia, the report said.

Engie currently has a 40.5 percent stake, with the remainder held by Japan’s Mitsui, Tokyo Electric Power, and Indonesia’s PT Batu Hitam, Reuters said, citing Engie’s website.

Nebras’s acquisition would offer the Qatari firm access to the Indonesian energy market, the report said.

Nebras Power is an infrastructure investment firm, 60 percent owned by Qatar Electricity and Water Company, with the remainder split between Qatar Petroleum and Qatar Holding.

WAM/MMYS