20231208_BREN_Laporan Informasi dan Fakta Material_31547821_lamp2.pdf

Press Release                                                             For Immediate Distribution




                     Barito Renewables Set to Acquire Sidrap Wind and OMI,

                              Expanding Renewable Energy Portfolio



Jakarta, 8 December 2023 - PT Barito Wind Energy, a subsidiary of Barito Renewables, has today
reached an in-principle agreement with UPC Renewables Asia Pacific Holdings Pte. Ltd and ACEN
Renewables International Pte. Ltd, paving the way for the acquisition of 100% shares in PT UPC Sidrap
Bayu Energy (Sidrap). Located in South Sulawesi, Sidrap is Indonesia’s first wind farm and one of the
largest in the country to date with a capacity of 75 MW. As part of this strategic move, the acquisition
will also encompass PT Operation and Maintenance Indonesia (OMI), which plays a crucial role in
supporting Sidrap’s operational activities.

All parties expect to enter into transactions imminently with completion expected to occur in the first
quarter of 2024, subject to satisfaction of condition precedents and approval from Indonesia Electricity
Company (PLN). This significant move underscores Barito Renewables' dedication to fostering
sustainable energy solutions and contributing to Indonesia's renewable energy landscape.

Hendra Tan, CEO of Barito Renewables said, “We are excited to announce our in-principle agreement
on this strategic acquisition. This marks our inaugural venture into promising renewable energies
beyond geothermal, a sector that has been integral to our portfolio for decades. Barito Renewables is
steadfast in its commitment to supporting Indonesia’s journey towards achieving the net-zero goal and
providing clean energy for Indonesia and beyond.”

Barito Renewables also owns Star Energy Geothermal which operates Wayang Windu, Salak and
Darajat units located in West Java with a total installed capacity of 886 MW.***