JAKARTA. Prajogo Pangestu has increased its ownership portion in PT Barito Renewables Energi Tbk (BREN) for investment purposes.

Merly, Director and Corporate Secretary of BREN, said that the shares were purchased by Pangestu on October 2 and 3, 2024. “Mr. Prajogo has increased stock ownership by 26,611,600 shares,” confirmed Merly in the information disclosure in Indonesia Stock Exchange (IDX).

Merly then said this portion increase is a form of support from Prajogo to BREN to enable business expansion and development.

“Barito Renewables has a strong commitment to continue to engage in new and renewable energy sector. Therefore, we remain optimistic regarding the contribution that we can generate for Indonesia,” added Merly.

For the record, recently, BREN’s subsidiary, Star Energy Geothermal, has announced the plan to boost its power capacity by 102.6 MW during International Geothermal Conference and Exhibition 2024 (IIGCE).

Said initiative is meant to increase the capacity of Star Energy Geothermal through retrofitting and new capacity increase in order to support Indonesia in its energy transition agenda. (KR/ZH)