Prajogo Pangestu Increases Share Ownership in Barito Renewable (BREN)
Jakarta. Barito Renewables (IDX: BREN) recently announced that Barito Pacific Group chairman Prajogo Pangestu had increased its share ownership in the company.
Prajogo raised his ownership on June 10 with a transaction involving 37,848,800 shares.
"Mr. Prajogo's increase in share ownership reflects his confidence as Chairman of Barito Group in the strategic development and business expansion steps taken by Barito Renewables along with its subsidiaries, Star Energy Geothermal and Barito Wind Energy,” BREN’s director and corporate secretary Merly was quoted as saying in a press statement.
Barito Renewables has completed a significant acquisition that adds to its green energy portfolio through the Sidrap 1 Wind Power Plant acquisition by its subsidiary, Barito Wind Energy, which has a capacity of 75 MW.
The company’s geothermal subsidiary, Star Energy Geothermal, is also realizing an increase of 116 MW in total geothermal capacity across its three operational areas in Salak, Darajat, and Wayang Windu, with 53 MW of this to be achieved through two strategies: the Salak Binary development and the retrofit program. This capacity increase is part of BREN's growth story to add capacity through organic growth, according to Merly.
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