PT Barito Wind Energy (Barito Wind) and ACEN Investments HK Limited (ACEN HK) have inked sale and purchase agreement (SPA) with UPC Renewables Asia Pacific Holdings to acquire wind development assets in Indonesia.
In its filing in the Philippine Stock Exchange, ACEN Corp. said that through this agreement, Barito Wind, a subsidiary of Barito Renewables, will secure a 51 percent ownership stake in three late-stage development assets, while ACEN HK will acquire the remaining 49 percent. The combined potential capacity of the project is reported to be 320 megawatts and is located in South Sulawesi (Sidrap 2), Sukabumi, and Lombok provinces in Indonesia.
Hendra Tan, Barito Renewables Chief Executive Officer, said that they remain positive in backing Indonesia’s goal of an eco-friendly and net zero future.
“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,” Tan said.
“As a leading player in the renewable energy sector, this significant agreement with Barito Renewables and UPC Renewables marks another milestone in our journey,” he said.
“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 also have plans to explore 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.