ACEN Corp. and Barito Renewables have acquired three late-stage wind development assets in Indonesia.
Having a combined potential capacity of 320 megawatts, the projects are located in South Sulawesi, Sukabumi, and Lombok provinces. Barito Wind owns a 51% stake in the projects, while ACEN HK owns the remaining 49%. The renewable energy unit of ACEN Corp. and Barito Renewables have completed the acquisition of wind projects under development in Indonesia.
It may be noted that last Dec. 15, ACEN HK and PT Barito signed a sale and purchase agreement (SPA) with UPC Renewables Asia Pacific Holdings for the acquisition of wind development assets.
Patrice Clausse, ACEN International Chief Executive Officer, said, “Indonesia marks the group’s initial expansion outside the Philippines, underscoring its pivotal role in ACEN’s strategic growth trajectory. 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 Asia-Pacific,” he added.
Barito Wind and ACEN are also discussing working together on more wind energy projects in Indonesia, he pointed out.
“Our investment into Sidrap 2, Sukabumi and Lombok, together with our esteemed partner, ACEN, positions us best to tap into Indonesia’s vast wind energy potential and contribute to the country’s renewable energy landscape,” Hendra Tan, Barito Renewables Chief Executive Officer said.
“Barito Renewables remains steadfast in supporting Indonesia’s pursuit of a net zero future and delivering clean energy locally and globally,” he added.