AHP Represents PT Barito Renewables Energy Tbk (“BREN”) on the Acquisition of Sidrap Wind Farm

AHP successfully represented PT Barito Wind Energy (“Barito Wind”), a subsidiary of BREN, in the USD102.2 million acquisition of PT UPC Sidrap Bayu Energi (“Sidrap”) 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. Funding for this acquisition was provided by PT Bank Negara Indonesia (Persero) Tbk., one of Indonesia’s leading banks with a strong focus on financing green projects. Sidrap is Indonesia’s pioneering wind farm, boasting a capacity of 75 MW and ranking among the largest in the nation, operated since 2018.

AHP also represented BREN in the acquisition of three late-stage wind development projects with a combined potential capacity of 320 MW in South Sulawesi (Sidrap 2), Sukabumi and Lombok (“Development Projects”) in Indonesia. As a result of the acquisition, Barito Wind owns a 51% stake in the Development Projects, with the remaining 49% owned by ACEN Investments HK Limited, a subsidiary of ACEN Renewables International, which is a wholly-owned unit of ACEN Corporation, part of the Ayala Group, one of the oldest and largest business houses in the Philippines.

“We are delighted to have played a key role in, yet another milestone projects for BREN. We are grateful for BREN’s trust in us and look forward to continuing our collaboration in driving sustainable development and environmental stewardship in the region,” said Kanya Satwika, Head of Banking Finance & Projects practice of AHP.

The AHP team was led by Kanya Satwika and M. Insan Pratama, and supported by Bagas Tiarniko Susetio, Yohanes Raditya Agung, and Mikaila Jessy Azzahra. These transactions demonstrate AHP’s continued commitment to excellence in renewable energy projects and sustainable financing transactions.

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