JAKARTA – PT Arkora Hydro Tbk (ARKO), a renewable energy (EBT) issuer under the Astra Group, has expanded its business network through the establishment of a new subsidiary, PT Arkora Energi Indonesia (AEI).

Ricky Hartono, Corporate Secretary of ARKO, disclosed in a statement to the Indonesia Stock Exchange on Wednesday (19/2) that AEI was formed through two of its subsidiaries, PT Hydra Sulawesi (HS) and PT Arjuna Hidro (AH). The total capital injected into AEI by these entities amounted to IDR 2.5 billion, with a share composition of 99.96% from HS and 0.04% from AH.

"The establishment of PT AEI, with HS and AH as its shareholders, indirectly gives the company a 99% ownership stake in PT AEI," said Ricky.

Arkora Hydro operates several key subsidiaries that play a vital role in developing and operating hydroelectric power plants (PLTA) across Indonesia. Some of ARKO's operational plants are located in Cikopo and Poso. (DH/ZH)