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Prajogo Pangestu Increases His Stake In PT Barito Renewables Energy Tbk

Corporate Secretary of PT Barito Renewables Tbk (IDX:BREN) announced an increase in share ownership by Mr. Prajogo Pangestu, Chairman of the Barito Pacific Group.

The increase in share ownership took place on June 10, 2024, with a transaction of 37,848,800 shares.

Merly, Director and Corporate Secretary of PT Barito Renewables Energy Tbk, stated, "Mr. Prajogo's increase in share ownership is a testament to his trust as Chairman of the Barito Group in the strategic steps of development and business expansion undertaken by Barito Renewables together with its subsidiaries, Star Energy Geothermal and Barito Wind Energy."

Barito Renewables has completed a significant acquisition that adds to its green energy portfolio through the Sidrap 1 Wind Power Plant by its subsidiary, Barito Wind Energy, with a capacity of 75 MW.

In addition, its geothermal subsidiary, Star Energy Geothermal, is also realizing an additional 116 MW of total geothermal capacity in its three operating areas in Salak, Darajat, and Wayang Windu, with 53 MW to be achieved through two strategies, namely the development of Salak Binary and retrofit programs. This capacity addition is part of BREN's growth story to increase capacity through organic growth.

About Barito Renewables:

Barito Renewables (IDX: BREN) is a leading renewable energy company in Indonesia and is the renewable energy unit of the Barito Pacific Group, committed to providing clean and sustainable energy solutions. With a strong focus on environmental responsibility and community engagement in its operational areas, BREN plays a crucial role in Indonesia's transition towards a greener and more sustainable energy landscape. A subsidiary of BREN, Star Energy Geothermal, currently operates a geothermal power plant of 886 MW. Through Barito Wind, the company also owns the Sidrap wind power plant in South Sulawesi with a capacity of 75 MW.