ACEN, Barito to acquire wind development assets in Indonesia

Barito will hold a 51% stake and ACEN will own a 49% share in the wind assets.

PT Barito Wind Energy and ACEN Investments HK Limited signed a sale and purchase agreement to acquire the late-stage wind development assets of UPC Renewables Asia Pacific Holdings in Indonesia with a total capacity of 320 megawatts (MW).

In a statement, ACEN said Barito Wind will hold a 51% stake in the three development assets, whilst ACEN HK will own the remaining 49%.

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The wind projects are located in South Sulawesi (Sidrap 2), Sukabumi, and Lombok provinces.

“As a leading player in the renewable energy sector, this significant agreement with Barito Renewables and UPC Renewables marks another milestone in our journey. The potential acquisition aligns perfectly with our growth strategy, particularly in expanding our wind energy footprint in the Asia Pacific region,” said ACEN International CEO Patrice Clausse.

Barito and ACEN are also exploring a potential long-term partnership for additional wind energy projects in Indonesia. Bariot, through its subsidiary Star Energy, has also partnered previously with ACEN for the 663 MW Salak and Darajat Geothermal plant in West Java.