JAKARTA. PT Barito Renewables Energy Tbk (BREN), through one of its subsidiaries, PT Barito Wind Energy (BWE), has reached in-principle agreement with UPC Renewables Asia Pacific Holdings Pte. Ltd. and ACEN Renewables International Pte. Ltd. to acquire 100% of PT UPC Sidrap Bayu Energy (Sidrap).

Sidrap is the first wind power plant in Indonesia, located in South Sulawesi. This plant has a capacity of 75 megawatts (MW).

Hendra Tan, CEO of BREN, said that his company is elated for this ahteemeu. "This marks the beginning of our initiatives in renewable energy sector outside geothermal that have become an integral part of our portfolio for decades," he added in the information disclosure.

BREN and several parties involved in this strategic acquisition wishes that the transaction could be concluded by the first quarter of 2024. This acquisition will require approval from PT Perusahaan Listrik Negara (PLN).

"This significant step highlights the commitment of BREN to drive sustainable energy solution and contribute towards Indonesia's renewable energy landscape," said the management of BREN in the official statement. (KR/ZH)