ACEN Corporation, through its renewable energy subsidiary, and Barito Renewables has acquired wind projects in Indonesia.
In a disclosure to the Philippine Stock Exchange, ACEN Investments HK Limited (ACEN HK) and PT Barito Wind Energy acquired wind projects acquired three late-stage wind development projects with a combined capacity of 320 megawatts (MW).
These ventures are located in South Sulawesi (Sidrap 2), Lombok, and Sukabumi provinces in Indonesia.
With ACEN procuring less than 10% of the book value of ACEN, Barito Wind now owns 51% of the three development assets, while ACEN HK owns the remaining 49%.
ACEN HK and PT Bario earlier entered into a sale and purchase agreement (SPA) with UPC Renewables Asia Pacific Holdings for the acquisition of late-stage wind development assets last December 15, 2023.
Furthermore, ACEN and Barito Wind are also planning on establishing more wind energy projects in Indonesia. Barito’s subsidiary, Star Energy, has also partnered with ACEN in the Salak and Darajat geothermal plants in West Java, Indonesia, offering a capacity of 663 MW.
The two firms back Indonesia’s decarbonization targets, which include raising its share of renewable energy output to 23% by 2025 and achieving net zero emissions by 2060.
