Focus On Growth In The New Renewable Energy Sector, Barito Pacific Adds To Its Ownership In Geothermal Assets

JAKARTA - Barito Pacific has increased its ownership of the geothermal assets of Wayang Windu, Salak and Darajat by conducting a series of transactions, namely the purchase of 30 percent effective share ownership in Star Energy Geothermal Pte. Ltd. (SEGPL), and the purchase of 30.25 percent of shares in Star Phoenix Geothermal JV BV (SPG). Both have been completed in December 2022.

This series of purchase transactions was carried out by Star Energy Group Holdings Pte. Ltd. (SEGHPL) which is a subsidiary of Barito Pacific in the geothermal Star Energy Group business unit. With the completion of this transaction, Barito Pacific's effective ownership of Wayang Windu's operational assets increased from 40 percent to 60 percent and effective ownership of Salak and Darajat's operational assets increased from 34.5 percent to 50.7 percent.

"This additional ownership is in line with our focus on the new renewable energy sector which is part of our steps to support Indonesia to achieve its net zero emission goal and further strengthen Barito Pacific as one of the leading energy companies in Indonesia," said President Director of PT Barito Pacific Tbk, Agus Salim Pangestu in a written statement, Monday, January 2.

Through its investment in SEGPL and SPG, Barito Pacific has effective ownership in Star Energy Geothermal (Wayang Windu) Ltd. (SEGWW) and Star Energy Geothermal (Salak - Dalajat) BV (SEGSD). SUGW owns and operates PLTG Wayang Windu with a total installed capacity of 227MW located in Bandung district, West Java.

SUGSD owns and operates PLTG Salak and Darajat with a total installed capacity of 377MW and 271MW located in Sukabumi district and Garut district, West Java.

As a background, Barito Pacific is running investment in the new renewable energy sector through PT Barito Renewables which owns a 100 percent stake in the SEGHPL.