ACEN Corp.’s renewables division, ACEN Renewables International, has embarked on a significant venture with Indonesia-based Barito Renewables to acquire late-stage wind development assets in Indonesia. This strategic collaboration, outlined in a recent sale and purchase agreement (SPA) with UPC Renewables Asia Pacific Holdings, marks ACEN’s first international foray beyond the Philippines. The partnership underscores Indonesia’s pivotal role in ACEN’s growth strategy and its commitment to expanding the renewable energy footprint in the Asia-Pacific region.
Under the terms of the agreement, ACEN HK, a subsidiary of ACEN Renewables International, and Barito Wind, a unit of Barito Renewables, will jointly acquire three late-stage wind development assets with a combined capacity of 320 megawatts (MW). Barito Wind will hold a 51 percent stake, while ACEN HK will own the remaining 49 percent. These assets are strategically located in South Sulawesi (Sidrap 2), Sukabumi, and Lombok provinces in Indonesia.
ACEN’s CEO, Patrice Clausse, expressed enthusiasm for the agreement, highlighting its alignment with ACEN’s growth strategy, especially in expanding their presence in the wind energy sector in the Asia-Pacific region.
The collaboration extends beyond this initial agreement, as Barito Wind and ACEN are currently in talks to establish a long-term partnership for additional wind energy projects in Indonesia. This signals a commitment to sustained collaboration beyond the current venture, emphasizing the partners’ shared vision for Indonesia’s renewable energy landscape.
Both ACEN and Barito Renewables share a common commitment to Indonesia’s decarbonization initiatives. ACEN’s CEO emphasized their alignment with Barito’s goals, emphasizing the significance of contributing to Indonesia’s pursuit of a net-zero future. Barito Renewables CEO, Hendra Tan, highlighted the importance of the investment in Sidrap 2, Sukabumi, and Lombok, emphasizing its contribution to Indonesia’s renewable energy goals.
This collaboration builds upon the existing partnership between Barito Renewables and ACEN in the 663-MW Salak and Darajat geothermal plant in West Java, Indonesia. Barito Renewables, through its subsidiary Star Energy, has been a key partner in this venture, reinforcing the collaborative spirit between the two entities.
Indonesia, a country committed to reaching net-zero emissions by 2060, has set ambitious targets for increasing renewable energy output to 23 percent by 2025. The country’s sustainable energy transition plan, presented at the G20 Summit in Bali, has garnered international support, positioning Indonesia as a key player in the global renewable energy landscape.
ACEN Corp.’s strategic partnership with Barito Renewables marks a significant milestone in its expansion strategy, amplifying its presence in the renewable energy sector. The collaboration not only demonstrates a commitment to Indonesia’s clean energy goals but also paves the way for future ventures in the dynamic and growing Asia-Pacific renewable energy market. As Indonesia progresses towards its net-zero target, collaborations like these will play a crucial role in shaping the country’s sustainable energy future.
(Source: Philippine Star | Manila Bulletin | Manila Times)
