ACEN, Indonesian firm partner to develop wind projects. (Photo: ACEN)
The Ayala Group’s ACEN energy company announced a new partnership with Indonesia's Barito Renewables, aiming to expand wind power projects in Indonesia. This new investment in renewable energy will complement ACEN’s existing geothermal operations in the region.
Philippines, Indonesia energy giants target wind power market
Patrice Clausse, ACEN's Chief Investment Officer, stated that “This exclusive partnership with Barito Renewables represents a bold step forward in our commitment to advancing Indonesia’s renewable energy sector. We are prepared to set new benchmarks in the industry.”
Currently, ACEN only operates geothermal energy in Indonesia, with a total installed capacity of 99 MW, including both construction and operational phases. Recently, the company has been actively pursuing wind power projects. In 2023, ACEN and Barito Renewables jointly acquired three wind power development projects in Indonesia, located in South Sulawesi, Sukabumi, and Lombok, with a potential installed capacity of 320 MW.
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Barito Renewables founded by Indonesia billionaire
Barito Renewables, a leading geothermal power company in Indonesia, underwent an IPO at the end of 2023. The company experienced significant stock price fluctuations shortly after listing and became the largest company by market capitalization in July 2024, sparking considerable market discussion. Barito Renewables is part of the Barito Pacific Group, founded by Prajogo Pangestu, Indonesia’s wealthiest Chinese-Indonesian.
With this new partnership with ACEN, Barito Renewables is set to make significant strides in the Indonesian wind power market. CEO Hendra Tan mentioned that this collaboration reinforces Barito’s commitment to developing renewable energy solutions and contributing to a green future, driving the growth of sustainable energy in Indonesia.
ACEN’s current operations are concentrated in Asia, including the Philippines, Australia, Vietnam, India, and Indonesia, with a total installed renewable energy capacity of 4.8 GW. The company aims to increase this capacity to 20 GW by 2030.
Besides collaborating with Indonesian companies, ACEN is also working with American and Singaporean firms to advance renewable energy projects. Recently, ACEN secured green loans totaling $300 million from SMBC Singapore and a consortium led by CTBC Bank Group.
Source: ACEN, Barito Renewables, Philstar
