Barito Wind Energy acquires majority stake in PT UPC Sidrap Bayu Energi

It will hold a 99.99% stake in the company.

Indonesia’s PT Barito Wind Energy has acquired 99.99% shares in PT UPC Sidrap Bayu Energi which operates a total of 75 megawatts of wind power.

In a statement, Barito Wind, a subsidiary of PT Barito Renewables Energy, said it bought the shares from UPC Renewables Asia Pacific Holdings Pte. Ltd., ACEN Renewables International Pte. Ltd., UPC Renewables Asia III Limited, Sidrap (HK) Limited, and Sunedison Sidrap B.V.

The acquisition included the PT UPC Operation and Maintenance Indonesia which is a vital component of Sidrap’s operational activities.

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“This strategic move not only adds a prominent wind energy asset to our portfolio but also reinforces our dedication to pioneering renewable energy solutions for a greener future,” Barito Renewables CEO Hendra Tan said.

The acquisition, valued at $102.2m, was supported by the PT Bank Negara Indonesia (Persero) Tbk.

Barito Wind also completed the acquisition of three late-stage wind development assets in South Sulawesi (Sidrap 2), Sukabumi, and Lombok with a total capacity of 320 megawatts.

The company owns 51% share of the three projects with ACEN Investments HK Limited holding 49% of the remaining shares.