Jakarta, 8 December 2023 - PT Barito Wind Energy, a subsidiary of Barito Renewables, has today reached an in-principle agreement with UPC Renewables Asia Pacific Holdings Pte. Ltd and ACEN  Renewables International Pte. Ltd, paving the way for the acquisition of 100% shares in PT UPC Sidrap Bayu Energy (Sidrap). Located in South Sulawesi, Sidrap is Indonesia’s first wind farm and one of the largest in the country to date with a capacity of 75 MW. As part of this strategic move, the acquisition will also encompass PT Operation and Maintenance Indonesia (OMI), which plays a crucial role in supporting Sidrap’s operational activities.

All parties expect to enter into transactions imminently with completion expected to occur in the first quarter of 2024, subject to satisfaction of condition precedents and approval from Indonesia Electricity Company (PLN). This significant move underscores Barito Renewables' dedication to fostering sustainable energy solutions and contributing to Indonesia's renewable energy landscape.

Hendra Tan, CEO of Barito Renewables said, “We are excited to announce our in-principle agreement on this strategic acquisition. This marks our inaugural venture into promising renewable energies beyond geothermal, a sector that has been integral to our portfolio for decades. Barito Renewables is steadfast in its commitment to supporting Indonesia’s journey towards achieving the net-zero goal and providing clean energy for Indonesia and beyond.”

Barito Renewables also owns Star Energy Geothermal which operates Wayang Windu, Salak and Darajat units located in West Java with a total installed capacity of 886 MW.***


About Barito Renewables:
Barito Renewables (IDX: BREN) is a leading renewable energy company in Indonesia, committed to providing clean and sustainable energy solutions. With a strong focus on environmental responsibility and community engagement, BREN plays a pivotal role in Indonesia's transition to a greener and more sustainable energy landscape. BREN’s subsidiary, Star Energy Geothermal, is currently operating 886 MW of geothermal power plant, in partnership with PGEO and PLN while attracting world class investors such as Ayala and Mitsubishi Corporation. For more information, please visit: https://baritorenewables.co.id/

For more information, please contact: 
Barito Renewables Corporate Secretary
Email: corpsec@baritorenewables.co.id