Jakarta. Barito Renewables Energy (BREN) reported a 24% year-on-year increase in net profit to $53 million in the first quarter of 2026, supported by steady geothermal power generation and strong performance from its wind energy segment.

Revenue rose 9.8% to $165 million during the January–March period, driven by stable electricity output from geothermal assets and higher production from wind operations.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed 11.4% to $145 million, reflecting improved operational efficiency and disciplined cost management.

“Our strong start to 2026 was supported by stable performance from our geothermal portfolio and robust contribution from the wind segment, which recorded one of its highest production levels since its commercial operation date,” Chief Executive Officer Hendra Soetjipto Tan said in a statement on Thursday.

Hendra said BREN’s geothermal operations continued to deliver consistent power output throughout the first quarter.

The company maintained a solid financial structure, with total assets of $3.94 billion and a debt-to-equity ratio of 2.23 times as of March 31, 2026.

Capacity Expansion Underway
Operationally, BREN continued to strengthen its geothermal portfolio and enhance efficiency. The retrofit project at the Wayang Windu facility was completed during the first quarter, increasing the company’s total installed geothermal capacity to 926 megawatts (MW) while improving overall plant performance.

Looking ahead, BREN plans to advance several key expansion projects, including Salak Unit 7, Wayang Windu Unit 3, and the retrofit of Darajat Unit 3.

These projects are expected to lift the company’s total geothermal capacity to more than 1,000 MW by the end of 2026.