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  • News Update
  • 05 April 2024
  • 678

Barito Renewables Completes Acquisition of Sidrap Wind Power Plant Worth US$ 102.2 Million with Funding Support from BNI

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Asserting its commitment to delivering sustainable energy in Indonesia, PT Barito Wind Energy, Barito Renewables’ subsidiary, successfully completed the acquisition of 99.99% of the 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 B.V. The funding for this acquisition was supported by PT Bank Negara Indonesia (Persero) Tbk, one of the leading banks in Indonesia with a strong focus on financing green projects.

Sidrap is one of the first and largest wind power plants in Indonesia with a capacity of 75 MW. Included in this acquisition is PT Operation and Maintenance Indonesia, a company playing a crucial role in supporting Sidrap's operational activities. The success of this acquisition also complements Barito Renewables' portfolio of clean energy assets, previously focused on geothermal energy.

Hendra Tan, CEO of Barito Renewables, stated, "With the completion of this Sidrap acquisition, we significantly realize our mission to drive sustainable energy growth in Indonesia. This strategic step not only adds wind energy assets to our portfolio but also reinforces our dedication to leading renewable energy solutions for a greener future."