Barito Renewables Completes Acquisition Of Sidrap Wind Power Plant Worth 102.2 Million US Dollars, BNI Provides Funding Support

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Barito Wind Energy (Barito Wind), a subsidiary of PT Barito Renewables Energy Tbk (Barito Renewables), proudly announced the completion of the acquisition of 99.99 percent of shares in PT UPC Sidrap Bayu Energy (Sidrap) from UPC Renewables Asia Pacific Holding Pte. Ltd., ACEN Renewables International Pte. Ltd., UPC Renewables Asia III Limited, Sidrap (HK) Limited, and Sunedison Sidrap BV.

The completion of this strategic acquisition marks the expansion of Barito Renewables into the wind energy sector, complements the track record that is already in the geothermal sector, and affirms our commitment to help deliver sustainable energy in Indonesia.

Located in South Sulawesi, Sidrap is a pioneer wind power plant in Indonesia, with a capacity of 75 MW and is ranked one of the largest in the country. Including in this acquisition is PT Operation and Maintenance Indonesia (OMI), a company that plays an important role in supporting Sidrap's operational activities.

Hendra Tan, CEO of Barito Renewables, expressed his enthusiasm for this acquisition.

"With Sidrap's acquisition completion, we significantly realized a mission to encourage sustainable energy growth in Indonesia. This strategic step not only adds wind energy assets to our portfolio, but also strengthens our dedication to leading renewable energy solutions for a greener future," he explained, in a written statement, Wednesday, April 3.

Funding for this acquisition is supported by PT Bank Negara Indonesia (Persero) Tbk (BNI), one of the leading banks in Indonesia with a strong focus on financing green projects.

"We express our appreciation for BNI's support. Our partnership in this acquisition is proof of our shared commitment to renewable energy. We hope that financial support like this will continue to develop in the future," said Hendra Tan.

In addition to the acquisition of Sidrap and OMI, Barito Wind has also completed the acquisition of three late-stage wind generation development assets with a combined potential capacity of 320 MW located in South Sulawesi (Sidrap 2), Sukabumi, and Lombok Provinces in Indonesia.

In three late-stage wind generation development assets, Barito Wind owns 51 percent of the shares and the remaining 49 percent is owned by ACEN Investments HK Limited (ACEN HK), a subsidiary of ACEN Renewables International, which is part of ACEN Corporation and is a long-term strategic partner of Barito Renewables.

Barito Renewables also has a subsidiary of Star Energy Geothermal which operates the Wayang Windu, Salak, and Darajat power plants located in West Java with a total installation capacity of 886 MW.