JAKARTA - PT Barito Wind Energy (BEW), a subsidiary of PT Barito Renewables Energy Tbk (BREN), has taken over several companies engaged in the new and renewable energy sector. The companies in question are UPC Renewables Asia Pasific Holdings Pte Ltd (UPCAPH), ACEN Renewables International Pte Ltd (ACRI), UPC Renewables Asia III Limited (Asia III), Sidrap Limited (Sidrap HK), and Sunedison Sidrap BV (SunEd BV).

In the information disclosure quoted Friday (15/12), Hendra Soetjipto Tan, President Director of BREN, confirmed that BWE agrees to take over 515,515 series A shares and 34,368 series B shares, which are equal to 99.99% of issued and paid-up capital of PT UPC Sidrap Baru Energi (Sidrap 1). This transaction is not an affiliate transaction.

BWE also takes over 2,499 shares or 99.99% of PT UPC Operation and Maintenance Indonesia (OMI) owned by UPCAPH.

Furthermore, BWE acquires 10,200 shares or 51% of Sidrap 2 owned by UPC Renewables Asia V Limited (UPCRAV) and UPC Sidrap Expansion HK Ltd (UPCSE), 19,463 shares or 51% of PT UPC Sukabumi Bayu Energi (Sukabumi) owned by UPC Renewables Asia IV Limited and UPC Sukabumi (HK) Ltd, as well as 10,200 shares or 51% of PT UPC Lombok Timur Bayu Energi (Lombok) owned by UPC Renewables Asia VIII Limited and UPC Lombok (HK) Ltd.

BWE also receives novation of receivables for development loan participation of Sidrap 2, Sukabumi, and Lombok from UPCRI and UPCRL.

In addition, BWE has concluded the takeover of 10,200 shares or 51% of Sidrap 2 from UPCRAV and UPCSE, the selling parties, for USD 1.34 million. The novation over receivables for development loan participation of Sidrap 2 worth USD 19,575 and USD 3.80 million from UPCRI and UPCRL. (LK/ZH)