BNI Danai Acquires PLTB Sidrap By Subsidiary Barito Renewables Energy

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Bank Negara Indonesia (Persero) Tbk or BNI is funding the acquisition of the Sidrap Bayu Power Plant (PLTB) worth 110 million US dollars by PT Barito Wind Energy, a subsidiary of PT Barito Renewables Energy Tbk (Barito Renewables).

The acquisition of PLTB Sidrap with a capacity of 75 megawatts (MW) was carried out on 99.99 percent of PT UPC Sidrap Bayu Energi (Sidrap) shares from UPC Renewables Asia Pacific Holdings Pte. Ltd., ACEN Renewables International Pte. Ltd., UPC Renewables Asia III Limited, Sidrap (HK) Limited, and Sunedison Sidrap BV.

"This funding is a strategic step for BNI in strengthening its financing portfolio in the green energy sector," said BNI Corporate Secretary Okki Rushartomo in Jakarta, quoted from Antara, Thursday, May 2.

In detail, the acquisition value consists of a $70 million Tranche A for acquisition financing and a $40 million Tranche B for General Corporate Purposes.

The integral part of this acquisition is PT UPC Operation and Maintenance Indonesia (OMI), which is an important component in supporting Sidrap's operational activities.

BNI believes that PLTB Sidrap has the potential to produce clean and sustainable electrical energy and help reduce greenhouse gas emissions. This is in line with the Company's commitment to continue to support the government's efforts to provide and build energy sources that are strategic capital in economic development in Indonesia.

"BNI is committed to continuing to support the development of green energy in Indonesia as part of its contribution to environmental conservation and sustainable development while increasing national energy security," he said.

BNI has disbursed green loans of IDR 67.4 trillion as of the end of March 2024 compared to the end of December 2020 which amounted to IDR 29.5 trillion, with an average growth rate of 23 percent every year (CAGR).

BNI Risk Management Director David Pirzada, during a virtual press conference in Jakarta, Monday, April 29, said that the distribution of green loans has a portion of 14.2 percent of the total wholesale loan. It is known that in December 2020, the portion of new green loans was 7.8 percent.