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Contents
1.     General Information ....................................................................................................... 1
2.     Reviewer Team ............................................................................................................... 1
3.     Listed Company Profile .................................................................................................. 2
4.     Assessment Procedure .................................................................................................. 2
5.     Assessment Analysis ...................................................................................................... 4
       5.1.       Mapping of Company’s Subsidiary....................................................................... 5
       5.2.       Taxonomic Assessment of the Company’s, Subsidiaries and Activities ................. 5
       5.3.       Financial/Financial Assessment .......................................................................... 7
       5.4.       Summary of Holding Company Level Assessment Results.................................... 8
6.     Opinion ........................................................................................................................ 10
7.     Appendix...................................................................................................................... 11
     Appendix 1: List of Supporting Documents for the Assessment .......................................... 11
     Appendix 2: TKBI-Alignment Assessment per Business Activity .......................................... 12
          1.      Pakkat Hydropower Plant .................................................................................. 12
          2.      Air Putih Hydropower Plant ............................................................................... 14
          3.      Madong Mini Hydropower Plant ......................................................................... 16
          4.      Ordi Hulu Mini Hydropower Plant ...................................................................... 18
          5.      Salu Noling Mini Hydropower Plant .................................................................... 20




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1. General Information
Report Publication Date      :   18th August 2026
Report Revision Number       :   0
Report Status                :   ☒ Final     ☐ Draft ☐ Revisi
Company Name                 :   PT Kencana Energi Lestari Tbk (KEEN)
Name of the Responsible      :   Giat Widjaja
Director
Email Address                : corporate.secretary@kencanaenergy.com
Phone Number                 : 021-58900791
Head Office Address          : Kencana Tower, 11th Floor, Business Park, Kebon Jeruk, Jl.
                               Meruya Ilir Raya No. 88 West Jakarta 11620
Assessment Documents         : Registration and Application Document for Green Equity
                               Designation 2025
Assessment Objectives        : Conducted an external review with outputs of an evaluation
                               report and an independent opinion on the Registration
                               Document and Green Equity Application Documents for
                               Green Equity Designation of PT Kencana Energi Lestari, Tbk
                               (KEEN) for the 2025 reporting period.
Scope                          The scope of the assessment is as follows:
                                • The Business Sector is the Energy Sector, the Power
                                    Plant subsector (KBLI: 35101); (KBLI 2020: 35111);
                                    (KBLI 2025: 35120).
                                • Portfolio Level assessment limitations include:
                                     1. PT Energi Sakti Sentosa (ESS) which operates the
                                         Pakkat hydropower plant
                                     2. PT Bangun Tirta Lestari (BTL) which operates the
                                         Air Putih hydropower plant
                                     3. PT Nagata Dinamika Hidro Madong (NDHM) which
                                         operates the Madong mini hydropower plant
                                     4. PT Sumatra Energi Lestari (SEL) which operates
                                         the Ordi Hulu mini hydropower plant
                                     5. PT Tiara Tirta Energi (TTE) which operates the Salu
                                         Noling mini hydropower plant
Guarantee Level              : Limited
Assessment period              1 January – 31 December 2025


2. Reviewer Team
Name of External Review      : PT Superintending Company of Indonesia (SUCOFINDO)
Provider                       (Persero)
Address of External Review   : Graha Sucofindo, Street. Raya Pasar Minggu No.Kav. 34,
Provider                       RT.4/RW.1, Pancoran, Pancoran District, South Jakarta
                               City, Special Capital Region of Jakarta 12780
Independent Reviewer         : Dikman Purnama
External Review Team         : Lead: Putri Rafika Dewi
                               Member 1: Galuh Chynintya R.P.
                               Member 2: Reza Mochammad Fadhlur Rahman
                               Member 3: Diah Nur Oktavia
External Review Reference    : 1. Indonesian Sustainable Finance Taxonomy (TKBI)
                               2. WFE Green Equity Principles

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 Summary of Assessment            :      ☒ Green
 Conclusions                             ☐ Transition
                                         ☐ Not Compliant
                                      PT SUCOFINDO as the External Review Provider has
                                      conducted a Portfolio Level Assessment of the
                                      Registration Letter Document and Green Equity
                                      Application Documents for Green Equity Designation
                                      submitted by PT Kencana Energi Lestari Tbk for the 2025
                                      reporting period. Based on evaluation review, there is
                                      nothing of concern to us that leads us to believe that the
                                      statement of Green Equity contains material
                                      misrepresentations. We conclude that PT Kencana Energi
                                      Lestari Tbk's claim regarding the classification of Green
                                      Equity for the 2025 reporting period has met the criteria
                                      required for Green Equity Designation, in all material
                                      respects.


3. Listed Company Profile
PT Kencana Energi Lestari, Tbk. (KEEN) is a company engaged in the development and provision
of new and renewable energy based on electricity (new and renewable energy developer) that
operates as an Independent Power Producer (IPP) in Indonesia. The Company focuses on the
development, construction, operation, and maintenance of new and renewable energy (NRE)-
based power generation systems, especially Hydroelectric Power Plants as well as several other
clean energy initiatives such as biomass and solar power.

PT Kencana Energi Lestari was established in 2008 as part of the business expansion of Kencana
Group, a national business group that has a business portfolio in the construction, energy, and
infrastructure sectors. Since its inception, the Company has been committed to providing clean,
sustainable, and reliable energy to meet the increasing national electricity needs, as well as
support the providing of the energy transition in Indonesia. In carrying out its business model, the
Company develops power generation projects through the Power Purchase Agreement (PPA)
scheme with PT PLN (Persero) as an electricity off-taker. Along with its business development,
the Company continues to strengthen its renewable energy generation portfolio and prioritize
responsible natural resource management and the application of sustainability principles. In
2019, the Company conducted an Initial Public Offering (IPO) and officially listed its shares on
the Indonesia Stock Exchange with the Green Equity code KEEN, as part of efforts to strengthen
funding capacity and support business development in the renewable energy sector.

Currently, the Company has been active in the development of various renewable energy
projects, including Hydroelectric Power Plant (PLTA), Biomass Power Plant (PLTBm), and Solar
Power Plant (PLTS), some of which are operating and some still in the development stage.


4. Assessment Procedure
The procedure for assessing the alignment of the Holding Company's portfolio refers to Appendix
13 of TKBI Version 3 concerning the Assessment of TKBI at the Portfolio Level (Figure 1).


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                        Figure 1. TKBI assessment at the Portfolio level

The assessment is conducted step by step. The process begins by mapping each company’s
subsidiary and investment within the scope of the portfolio, assessing the economic activities of
each company individually, and then combining all the assessment results to obtain a TKBI
alignment profile at the Holding Company level. This approach is important because the level of
alignment of a portfolio cannot be directly determined based solely on the type of business or
company name. Each company’s subsidiary has several activities with different levels of
alignment, so all activities need to be reviewed first before the results are consolidated.

The initial stage is carried out through an inventory / mapping of all subsidiary companies,
investments, and economic activities that are within the scope of the assessment. The
information collected at least includes the name of the subsidiary/investment company, the
name and description of the business activity, as well as the Indonesian Standard Industrial
Classification (KBLI) code and description. The data needs to be compiled completely and
consistently so that each activity can be traced and associated with the company that runs it.
This mapping is also the basis for determining whether an activity has been included in the scope
of TKBI or has TKBI-eligible status. Activities that are not yet covered in the TKBI sector or activity
list are still recorded but are treated as TKBI-non-eligible or out of scope.

Activities that are included in the scope of TKBI are then assessed for their level of alignment or
TKBI-alignment at the activity level. The assessment is carried out using Technical Screening
Criteria (TSC) which are in accordance with the sector and characteristics of the activity. This
stage begins with an assessment of whether the activity makes a contribution that meets the
criteria for the selected main Environmental Objective (EO). Furthermore, the assessment of the
Essential Criteria (EC) of each activity to ensure that the business activity does not cause
significant damage to other aspects. The EC assessment consists of the Do No Significant Harm
(DNSH) assessment, Remedial Measures to Transition (RMT) and the fulfillment of social aspects.
Based on the results of the assessment, each activity is grouped into the categories of Green,
Transition, Not Classified, or TKBI-non-eligible. The Green category is given to activities that meet
the Green Criteria in TKBI, while the Transition category is given to activities that meet the
transition criteria that have been set. Activities that fall under the scope of TKBI but do not meet
the Green or Transition criteria are recorded as Not Meeting the Classification. Meanwhile,
activities that do not have the scope or assessment criteria in TKBI are recorded as TKBI-non-
eligible.


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If a company’s subsidiary runs more than one economic activity, the results of each activity
assessment are first aggregated to obtain an alignment profile at the entity level. Aggregation can
use Revenue, Capital Expenditure, or Operating Expenditure indicators, according to business
characteristics, activity development stages, and assessment objectives. Each company’s
subsidiary will then have a percentage profile showing the portion of Green, Transition, Not-
Classified, and TKBI-non-eligible activities. The profile is then used as the basis for assessment
at the Holding Company level. In the portfolio aggregation process, the contribution of each
company’s subsidiary is weighted based on its proportion to the Holding Company's total
Revenue, CapEx, or OpEx. The percentage in each category at the company’s subsidiary level is
multiplied by the weight of the company's contribution, then added to the results of other
subsidiaries. In this way, a company’s subsidiary with a greater financial contribution will have a
greater influence on the outcome of the portfolio valuation.

The results of the Holding Company's assessment are presented in the form of a portfolio
percentage profile, rather than as a single classification. The profile shows the large part of the
portfolio which includes the categories Green, Transition, Not Compliant with Classification, and
TKBI-non-eligible or out of scope. This approach provides a more complete picture of the
condition of the portfolio because it can show activities that have been aligned, activities that are
still in the transition process, activities that have not met the requirements, and activities that
have not been covered by TKBI. The results can also be used to assess the development of the
portfolio over time and see changes in the direction of the Holding Company.


5. Assessment Analysis
This section presents the results of the assessment of the alignment of PT Kencana Energi Lestari
Tbk's (KEEN) portfolio with the Taxonomy for Sustainable Finance Indonesia (TKBI) Version 3.

Given the Company's organizational structure as a holding company with various subsidiaries in
the power generation sector, the assessment was conducted using the Holding Company's
Portfolio Level approach. In line with the TKBI framework, the evaluation is carried out in stages:
alignment is first identified at the Activity level using Technical Screening Criteria (TSC), which is
then aggregated into an Entity-level alignment assessment for each subsidiary, before finally
being consolidated cumulatively at the Group Portfolio level.

Revenue is defined as the main aggregation approach in this assessment. The selection of this
metric is based on the operational condition of the subsidiary, the majority of which have been in
the commercial operating stage, so that the income from electricity sales is the most appropriate
measure to show how big the Holding Company's business is in accordance with the TKBI green
classification.

This assessment covers the period of 2025 by utilizing segmented financial data, licensing
documents, operational reports, and environmental and social performance data from each
subsidiary. All financial figures used refer to data in audited financial statements. Therefore, this
assessment focuses on taxonomic alignment and does not include audit procedures for such
financial statements.



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5.1. Mapping of Company’s Subsidiary
The initial step of assessment was carried out by mapping the Holding company's portfolio into
an individual list of subsidiaries' investments. Based on the Application Letter for Green Equity
Designation submitted by PT Kencana Energi Lestari Tbk in 2025 to IDX, it is known that the
Company runs a power generation business sourced from new and renewable energy (NRE)
through its subsidiaries.

Until the 2025 reporting period, PT Kencana Energi Lestari Tbk has developed the Hydroelectric
Power Plant (PLTA) and Minihydro Power Plant (PLTM) projects. The mapping results of the
subsidiary of PT Kencana Energi Lestari Tbk are presented in Table 3.1.
                 Table 3. 1. Mapping of Company’s subsidiary of PT Kencana Energi Lestari Tbk.
                                                                                 Date of
              Company’s               Business                                 Commercial        Ownership
 Num.                                                      Location
              subsidiary              Activities                                Operation        Percentage
                                                                                 (COD)
                                                          Humbang
                                    Pakkat
        PT Energy Sakti Sentosa                          Kasundutan
   1                                Hydropower                                31 January 2018        75,00%
        ("ESS")                                         Regency, North
                                    Plant
                                                           Sumatra
        PT Bangun Tirta Lestari     Air Putih          Lebong Regency,
   2                                                                          22 January 2020        98,40%
        ("BTL")                     Hydropower            Bengkulu
                                    Madong mini         North Toraja
        PT Nagata Dinamika
   3                                hydropower         Regency, South          March 25, 2022        74,42%
        Hidro Madong ("NDHM")
                                    plant                 Sulawesi
                                    Ordi Hulu mini     Pakpak Bharat
        PT Sumatra Energi
   4                                hydropower         Regency, North          March 31, 2024        90,00%
        Lestari ("SEL")
                                    plant                 Sumatra
                                    Salu Noling
        PT Tiara Tirta Energi       mini                Luwu Regency,              Not yet
   5                                                                                                 75,00%
        ("TTE")                     hydropower          South Sulawesi           operational
                                    plant



5.2. Taxonomic Assessment of the Company’s, Subsidiaries and Activities
It is important to understand that not all economic activities listed in the Indonesian Business
Field Standard Classification (KBLI) fall within the scope of the Taxonomy for Indonesia's
Sustainable Finance (TKBI). This taxonomy only includes activities that are considered to make a
substantial contribution to economic, environmental, or social goals, which are then categorized
as TKBI-eligible activities.

In this assessment process, the operations of each company’s subsidiary are described into
individual economic activities based on the KBLI code to identify their eligibility status. The
identified activities included in the scope of the taxonomy are then analyzed in more depth based
on the fulfillment of the main Environmental Objective (EO) and the Essential Criteria (EC). The
analysis of these Essential Criteria includes the assessment of Do No Significant Harm (DNSH)
and the fulfillment of the Social Aspect (SA).




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The following table presents the results of TKBI eligibility assessment of economic activities
carried out by the PT Kencana Energi Lestari Tbk business group based on the technical
provisions in TKBI.
          Table 3. 2. TKBI-Eligibility Assessment of the Economic Activities of PT Kencana Energi Lestari Tbk
  Company’s
                        Business                                                    TKBI        Business Scale and
   subsidiary                                            KBLI
                        Activities                                               Eligibility    Assessment Method
     Name
PT Energi Sakti     Pakkat                KBLI 35101 (2017) / KBLI 35111           TKBI-       Corporation       -
Sentosa (ESS)       Hydropower            (2020) - Electricity Generation         Eligible     Technical Screening
                    Plant                 or                                                   Criteria (TSC)
                                          KBLI 35120 (2025) - Electricity
                                          Generation from Renewable
                                          Energy Sources.
PT Bangun Tirta     Air Putih             KBLI 35101 (2017) / KBLI 35111           TKBI-       Corporation       -
Lestari (BTL)       hydropower            (2020) - Electricity Generation         Eligible     Technical Screening
                    plant                 or                                                   Criteria (TSC)
                                          KBLI 35120 (2025) - Electricity
                                          Generation from Renewable
                                          Energy Sources.
PT Nagata           Madong mini           KBLI 35101 (2017) / KBLI 35111           TKBI-       Corporation       -
Dinamika Hidro      hydropower plant      (2020) - Electricity Generation         Eligible     Technical Screening
Madong                                    or                                                   Criteria (TSC)
(NDHM)                                    KBLI 35120 (2025) - Electricity
                                          Generation from Renewable
                                          Energy Sources.
PT Sumter           Ordi Hulu mini        KBLI 35101 (2017) / KBLI 35111           TKBI-       Corporation       -
Energi Lestari      hydropower plant      (2020) - Electricity Generation         Eligible     Technical Screening
(SEL)                                     or                                                   Criteria (TSC)
                                          KBLI 35120 (2025) - Electricity
                                          Generation from Renewable
                                          Energy Sources.
PT Tirta Tiara      Salu Noling mini      KBLI 35101 (2017) / KBLI 35111           TKBI-       Corporation       -
Energi (TTE)        hydropower plant      (2020) - Electricity Generation         Eligible     Technical Screening
                                          or                                                   Criteria (TSC)
                                          KBLI 35120 (2025) - Electricity
                                          Generation from Renewable
                                          Energy Sources.

Based on the results of the TKBI eligibility assessment, all economic activities owned by PT
Kencana Energi Lestari Tbk can be categorized as TKBI-Eligible, as shown in Table 3.2. Thus, the
activity level assessment process can be continued to the next stage, namely assessing whether
each activity meets the TKBI classification requirements: Green, Transition, or Does Not Meet the
Classification. Table 3.3 shows the conclusion of the TKBI-alignment assessment results for
each business activity of PT Kencana Energi Lestari Tbk (KEEN). In detail, the TKBI-alignment
assessment is presented in Appendix 2.
     Table 3. 3. Summary of TKBI-Alignment Assessment of Economic Activities of PT Kencana Energi Lestari Tbk
                                                            Taxonomic Assessment (TKBI - Alignment)
                                  Company
  Num.      Subsidiaries                                                          Social
                                  Activities             EO            EC                     Classification
                                                                                 Aspects
                                Pakkat            EO1 Climate                          Social
          PT Energy Sakti
    1                           hydropower        Change              DNSH: meet       Aspect:                  Green
          Sentosa ("ESS")
                                plant             Mitigation                           meet

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                                      Air Putih          EO1 Climate                           Social
                PT Bangun Tirta
          2                           hydropower         Change               DNSH: meet       Aspect:                     Green
                Lestari ("BTL")
                                      plant              Mitigation                            meet
                                      Salu Noling
                                                         EO1 Climate                           Social
                PT Tiara Tirta        mini
          3                                              Change               DNSH: meet       Aspect:                     Green
                Energi ("TTE")        hydropower
                                                         Mitigation                            meet
                                      plant
                PT Sumatra            Ordi Hulu mini     EO1 Climate                           Social
          4     Energi Lestari        hydropower         Change               DNSH: meet       Aspect:                     Green
                ("SEL")               plant              Mitigation                            meet
                PT Nagata
                                      Madong mini        EO1 Climate                           Social
                Dinamika Hidro
          5                           hydropower         Change               DNSH: meet       Aspect:                     Green
                Madong
                                      plant              Mitigation                            meet
                ("NDHM")



         5.3. Financial/Financial Assessment
      Financial/financial valuation refers to the WFE Green Equity Principles standard which has the
      following criteria:

        Green Equity              1) Revenue Stage: >50% of total annual revenue is classified as green, or
        Designation               2) Pre-Revenue Stage: >50% of investment (Opex or Capex) contributes
                                     to the green economy
        Green Equity              1) Revenue Stage: >50% of total annual revenue is classified as green, or
        Transition                2) Pre-Revenue Stage: >50% of investment (Opex or Capex) is allocated
        Designation                  to activities classified as green or transitional.

      The assessment is carried out based on the Financial Statements of PT Kencana Energi Lestari
      Tbk for 2025. The business activities of the Company’s subsidiary are entirely at the revenue
      stage so that the assessment uses the Revenue indicator of green activities. The following are
      the details of the financial assessment:
                                   Table 3.4 Financial Valuation of PT Kencana Energi Lestari Tbk
                                                                      Portfolio-Level Green Finance Assessment
                                                                                                                   E=
                                                                               C=
     Compa                        Taxono        A             B                                  D               (D/W) x           F=CxE
                                                                           (W/A) x 100%
Nu    ny’s       Company           mic                                                                            100%
m.   subsidi     Activities       Assess                                                                                        % Green
                                             Holding    Total Revenue                          Green         % Green
       ary                         ment                                    % of Revenue                                          Income
                                            Company      of Subsidiary                        Revenue       Revenue of
                                                                           of Company’s                                        Aggregation
                                            Revenue       Companies                          Subsidiary     Subsidiary
                                                                             subsidiary                                            per
                                              (USD)          (USD)                             (USD)        Companies
                                                                                                                               Subsidiary
               Pakkat
1    PT ESS    hydropower         Green                      5.690.867            16,58%        5.690.867         100,00%           16,58%
               plant
               Air Putih
2    PT BTL    hydropower         Green                      9.201.621            26,80%        9.201.621         100,00%           26,80%
               plant
               Salu Noling mini
3    PT TTE    hydropower         Green    34.333.492       10.530.605            30,67%       10.530.605         100,00%           30,67%
               plant
               Ordi Hulu mini
4    PT SEL    hydropower         Green                      4.002.027            11,66%        4.002.027         100,00%           11,66%
               plant
               Madong mini
     PT
5              hydropower         Green                      4.870.242            14,19%        4.870.242         100,00%           14,19%
     NDHM
               plant


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                                                                 % of Portfolio Green Income       99,89%
                                                                       Classification            GREEN
*Revenue data source: Financial Statements of PT Kencana Energi Lesteri Tbk Year 2025

Based on Table 3.4, PT Kencana Energi Lestari Tbk has a portfolio-level green income of 99.89%
in the 2025 period. Therefore, PT Kencana Energi Lestari Tbk has met the Green criteria and is
classified as GREEN.

5.4. Summary of Portfolio Level Assessment Results
 Organization Name                      :    PT Kencana Energi Lestari, Tbk
 Registered Company Code                :    KEEN
 Sector / Subsector                     :    Energy / Power Generation (KBLI 2025: 35120)
 Program/Mechanism                      :    IDX Green Equity Designation
 Reference Standards                    :    1. Indonesian Sustainable Finance Taxonomy (TBKI)
                                             2. WFE Green Equity Principles
 Scope                                  :    Portfolio Level - Holding Company
 Assessment Period                      :    1 January 2025 – December 2025




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                                                                                                                                  Financial/Financial
                                                                             Taxonomic Assessment (TKBI - Alignment)
                                                                                                                                     Assessment
       Company’s         Company      Activity Code /      Sector /                                                                              % of
Yes                                                                                                                            % Green
       subsidiary        Activities        KBLI           Subsector                                 Social                                     Portfolio
                                                                           EO           EC                      Klasifikasi     Income
                                                                                                   Aspects                                      Green
                                                                                                                              Aggregation
                                                                                                                                               Income
                                         KBLI 35101                    EO1 Climate   DNSH:       Social
      PT Energy Sakti   Pakkat                             Energy,
                                      [2017]/KBLI 35111                Change        meet        Aspect: meet
1     Sentosa           Hydropower                          Power                                                 Green         16,58%
                                      [2020]/KBLI 35120                Mitigation
      ("ESS")           Plant                             Generation
                                           [2025]/
                                         KBLI 35101        Energy,     EO1 Climate   DNSH:       Social
      PT Bangun
                        Water         [2017]/KBLI 35111     Power      Change        meet        Aspect: meet
2     Tirta Lestari                                                                                               Green         26,80%
                        Hydropower    [2020]/KBLI 35120   Generation   Mitigation
      ("BTL")
                                           [2025]/
                                         KBLI 35101        Energy,     EO1 Climate   DNSH:       Social
      PT Tiara Tirta    PLTM Salu     [2017]/KBLI 35111     Power      Change        meet        Aspect: meet
3                                                                                                                 Green         30,67%          99,89%
      Energi ("TTE")    Noling        [2020]/KBLI 35120   Generation   Mitigation
                                           [2025]/
                                         KBLI 35101        Energy,     EO1 Climate   DNSH:       Social
      PT Sumatra
                        PLTM Ordi     [2017]/KBLI 35111     Power      Change        meet        Aspect: meet
4     Energi Lestari                                                                                              Green         11,66%
                        Hulu          [2020]/KBLI 35120   Generation   Mitigation
      ("SEL")
                                           [2025]/
      PT Nagata                          KBLI 35101        Energy,     EO1 Climate   DNSH:       Social
      Dinamika          PLTM          [2017]/KBLI 35111     Power      Change        meet        Aspect: meet
5                                                                                                                 Green         14,19%
      Hidro Madong      Madong        [2020]/KBLI 35120   Generation   Mitigation
      ("NDHM")                             [2025]/


Based on the "TKBI-aligned" assessment, the Conglomerate of the Holding Company of PT Kencana Energi Lestari Tbk (KEEN) has a "Green”
classification portion of 99.89%.




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6. Opinion
The assessment report and opinion statement on the Registration Letter and Application for
Green Equity Designation of PT Kencana Energi Lestari Tbk (KEEN) for the 2025 period, are the full
responsibility of the External Review Provider, PT SUCOFINDO. Meanwhile, the applicant entity,
PT Kencana Energi Lestari Tbk, is responsible for the presentation of claims, statements, and
information in the Registration Letter Document and Application for Green Equity Designation.

The assessment process is carried out by PT SUCOFINDO through two schemes, namely (1)
Taxonomic Assessment which refers to TKBI Version 3, using the Portfolio Level assessment of
the Technical Screening Criteria (TSC) method; and (2) Financial Assessment which refers to the
WFE Green Equity Principles. The data examined is historical, including the 2025 Green Equity
Designation Registration Letter and Application, the 2025 Financial and Sustainability
Statements, and other supporting documents in the form of technical documents and permits.

Based on the external review performed by PT SUCOFINDO, nothing has come to our attention
that causes us to believe that the Green Equity Statement contains any material misstatement.
Accordingly, we conclude that PT Kencana Energi Lestari Tbk,s Green Equity classification for the
2025 reporting period meets the eligibility criteria for Green Equity Designation, in all material
respects.

The entire assessment process has been carried out independently and free from conflicts of
interest, including personal, financial, and other relationships that may affect the objectivity of
the assessment. This Opinion statement is true, accurate, and complete.



 Jakarta, 18th August 2026




 Putri Rafika Dewi                                             Dikman Purnama
 External Review Lead                                          Independent Reviewer




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7. Appendix
Appendix 1: List of Supporting Documents for the Assessment
  1. Financial Report of PT Kencana Energi Lestari in 2025
  2. PT Kencana Energi Lestari Sustainability Report in 2025
  3. Determination of the Policy of Respect and Protection of Human Rights Based on
     International Standards (Decree of the Board of Directors No.57/SK-DIR/LEG-
     KEL/XII/2024)
  4. Technical Documents and Licensing per Company’s subsidiary and Activity
         Company’s       Business
                                                       Technical Documents and Permits
         subsidiary      Activities
      PT Energi Sakti   Pakkat        1. ESS - IUPTL PLTA Decks
      Sentosa           Hydropower    2. ESS - Pakkat Hydropower Environmental Permit
      ("ESS")           Plant         3. ESS - DELH PLTA Decks
                                      4. ESS - Environmental Permit Report Semester 1 2025
                                      5. ESS - Environmental Permit Report Semester 2 2025
                                      6. Application Letter No. 026/ESS-Leg/VII/2026 dated July 15, 2026
      PT Bangun Tirta   Air Putih     1. BTL - IUPTL HYDROPOWER PLANT
      Lestari ("BTL")   Hydropower    2. BTL - Air Putih Hydropower Environmental Permit
                        Plant         3. BTL - UKL UPL Hydropower Plant
                                      4. BTL - SIPPA Hydropower Plant
                                      5. BTL - Environmental Permit Report Semester 1 2025
                                      6. BTL - Environmental Permit Report Semester 2 2025
                                      7. BTL - Environmental Monitoring Minutes
                                      8. BTL - E-Jounal University of Bengkulu
      PT Nagata         Madong        1. NDHM - Power Plant Business License (IUPTL) PLTM Madong
      Dinamika Hidro    Mini          2. NDHM - Environmental Evaluation Document (DELH) of PLTM
      Madong            Hydropower       Madong
      ("NDHM")          Plant         3. NDHM - Environmental Permit of PLTM Madong
                                      4. NDHM - Environmental Permit Report of RKL RPL SMT I 2025 PLTM
                                         Madong
                                      5. NDHM - Environmental Permit Report RKL RPL SMT II 2025 PLTM
                                         Madong
                                      6. NDHM – Natural Resources Management Permit (PSDA)
      PT Sumatra        Ordi Hulu     1. SEL - Power Plant Business License (IUPTL) PLTM Ordi Hulu
      Energi Lestari    Mini          2. SEL - Environmental Permit for PLTM Ordi Hulu
      ("SEL")           Hydropower    2. SEL - Environmental Permit Report for Semester I 2025
                        Plant         3. SEL - Environmental Permit Report Semester II 2025
                                      4. SEL - Natural Resources Management Permit (PSDA)
      PT Tiara Tirta    Salu Noling   1. TTE - Power Plant Business Permit (IUPTL) PLTM Salu Noling
      Energi ("TTE")    Mini          2. TTE - UKL UPL PLTM Salu Noling
                        Hydropower    3. TTE - Environmental Permit for PLTM Salu Noling
                        Plant         4. TTE - Report on the Implementation of RKL-RPL for the Construction
                                      Stage of the First Semester of 2025
                                      5. TTE - Report on the Implementation of RKL-RPL Construction Phase II
                                      2025
                                      6. TTE – Natural Resources Management Permit (PSDA)




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     Appendix 2: TKBI-Alignment Assessment per Business Activity
      1. Pakkat Hydropower Plant
    Assessment                                                                                                                                                      Assessment
                                  Green Criteria                                                         Explanation
       Aspects                                                                                                                                                         Results
Activity              -                                       PT Energy Sakti Sentosa (ESS) is the operator company for the Pakkat hydropower plant which           TBKI-
Classification:                                               has a capacity of 18 MW (3x6 MW) and has been operating since 2020.                                   Eligible
                                                              Pakkat hydropower activities are categorized into KBLI 35101 (2017) / KBLI 35111 (2020), namely
KBLI 35101 (2017) /                                           Electricity Generation or KBLI 35120 (2025), namely Electricity Generation from Renewable
KBLI 35111 (2020) /                                           Energy Sources. This KBLI includes groups that include efforts to produce electricity through
KBLI 35120 (2025)                                             electricity generation that uses various types of energy sources, including flow energy sources
                                                              and waterfalls.
Environmental         EO1 hydropower source categories:       1. PT ESS has an Electricity Supply Business License (IUPTL) Number 1/IUPTL-PB/PMDN/2017.             Green
Objective (EO):       1) Business License in the                  This permit is an amendment to the previous permit to accommodate the increase in power
                          Electricity    Sector   (IUPTLU         generation capacity from 2x5 MW to 3x6 MW. The Business License states that PT ESS
EO1: Climate              and/or IUPTLS)                          operates the Pakkat hydropower plant by utilizing water energy sources from the Aek Sirahar
Change Mitigation     2) Using run-off-river; or use a            River (Sirahar River Basin).
                          reservoir with a power density of   2. The Pakkat hydropower plant uses the Run-of-River (RoR) concept based on the following
                          >4W/m2; or Lifecycle emissions          documents:
                          from all power generation               a. The Environmental Evaluation Document (DELH) of the Pakkat hydropower plant in
                          facilities <100 gCO2e/kWh                    2017 explains that the operation of the plant is carried out by utilizing the potential of
                                                                       the Aek Sirahar River water resources through the diversion of water discharge through
                      (TKBI Version 3, p. 102)                         a waterway (tunnel) to the powerhouse, and the water is then returned to the Aek Sirahar
                                                                       River through a tail race. The construction of the Pakkat hydropower dam is of the fixed
                                                                       gravity concrete type which functions to raise the water level so that it can be diverted
                                                                       to the intake.
                                                                  b. b. PT Energy Sakti Sentosa Environmental Permit Number: 542/ILingk/DPMP2TSP/2017,
                                                                       which stipulates that the company is granted a permit to carry out a hydropower
                                                                       business of 3x 6 MW with the scope: environmental hue, impacts that occur,
                                                                       environmental management and monitoring efforts and work programs according to
                                                                       environmental documents. This permit is valid for the same period of time as the
                                                                       business license.
                                                                  c. Environmental Permit Report for Semester I & II of 2025, which explicitly states: "The
                                                                       3x6 MW Pakkat hydropower plant operates using the concept of run of river, namely
                                                                       utilizing the Aek Sirahar river flow" with a watershed area of ±251 km².



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Essential Criteria   Have at least PROPER BLUE or meet        1.    The Pakkat hydropower plant has an environmental approval in the form of an                   Green
(EC):                the following criteria:                       Environmental Permit through the Decree of the Head of the Investment and One-Stop
                      1) Environmental Approval can be             Integrated Licensing Service Office of Humbang Hasundutan Regency Number:
DNSH (Do Not              in       the       form        of        542/ILingk/DPMP2TSP/2017. The operation of the hydropower plant is also based on the
Significant Harm)         AMDAL/UKL/UPL/SPPL                       2017 Environmental Evaluation Document (DELH) which was prepared as the basis for the
                          documents.                               implementation of environmental management and monitoring.
                      2) Activities need to manage risks      2. The Pakkat hydropower plant conducts risk management related to the potential for a
                          that have the potential to reduce        decrease in water quality and quantity based on the following documents:
                          water quality and disrupt water         a. The 2017 Pakkat hydropower project DELH document, which establishes a management
                          quantity by consuming water at               plan and monitoring the risk of water quality degradation through regular river water
                          a reasonable level and having a              sampling and laboratory analysis. The main focus is to ensure that the physical and
                          water use plan and conservation              chemical parameters of the water still meet the quality standards set by the government.
                          management in accordance                b. Environmental Permit Report Semester I & II Year 2025:
                          with applicable regulations.                 PT ESS prepares and submits reports on the implementation of environmental
                                                                       management plans (RKL) and environmental monitoring plans (RPL) every semester to
                     (TKBI Version 3, p.743)                           relevant agencies. Water quality monitoring is carried out periodically in strategic
                                                                       locations, namely in the Weir Area (Inlet) and around Power Houses (Outlets). The
                                                                       measured parameters include physical parameters (TSS, TDS, Temperature) and
                                                                       chemical parameters (pH, COD, BOD, DO).
                                                                       The results of the water quality analysis for the first semester of 2025 show that all
                                                                       parameters monitored are below the threshold value (Quality Standards) in accordance
                                                                       with Government Regulation No. 22 of 2021, so that the water quality is relatively good.
                                                                       In the second semester of 2025, geo-physical-chemical testing (including surface water)
                                                                       cannot be carried out because of a landslide disaster in December 2025 that
                                                                       accumulated river flows and caused plant operations to be temporarily halted.
                                                                  c. PT ESS is currently coordinating with the Ministry of Environment through an application
                                                                       letter No. 026/ESS-Leg/VII/2026 dated July 15, 2026, regarding the request for direction
                                                                       of environmental documents. This aims to ensure that there is a basis for the
                                                                       implementation of the environmental management of the rehabilitation activities that
                                                                       are being carried out.
Essential Criteria   Related                                  PT Kencana Energi Lestari Tbk as the Holding company has established a Policy on Respect and        Green
(EC):                policies/guidelines/practices:           Protection of Human Rights through the Decree of the Board of Directors No. 57/SK-DIR/LEG-
                     1) Protection and Respect for            KEL/XII/2024. PT Kencana Energi Lestari Tbk and all its subsidiaries are committed to ensuring
Social Aspects            Human Rights                        that all operational activities are based on universally recognized human rights principles,
                     2) Employment includes decent            including but not limited to:
                          work, prevention of forced          1. Non-discrimination


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                         labour, protection of women and      2. Forced Labor and Child Labor
                         child workers, and human             3. Occupational Health and Safety (K3)
                         resource development                 4. Freedom of Association and Collective Bargaining
                      3) Impact on people living close to     5. Decent Wages
                         investment,     including    job
                         creation, poverty reduction and
                         economic growth

                      (TKBI Version 3, p. 863)
     Based on the explanation above, the Pakkat hydropower business activities meet the requirements of TKBI (Taxonomy-Aligned) of the GREEN
     classification.

      2. Air Putih Hydropower Plant
    Assessment                                                                                                                                                    Assessment
                                  Green Criteria                                                        Explanation
       Aspects                                                                                                                                                       Results
Activity              -                                       PT Bangun Tirta Lestari (BTL) is the operator company for the Air Putih hydropower plant which      TBKI-
Classification:                                               has a capacity of 21 MW and has been operating since January 22, 2020.                              Eligible
                                                              Air Putih hydropower activities are categorized into KBLI 35101 (2017) / KBLI 35111 (2020),
KBLI 35101 (2017) /                                           namely Electricity Generation or KBLI 35120 (2025), namely Electricity Generation from
KBLI 35111 (2020) /                                           Renewable Energy Sources. This KBLI includes groups that include efforts to produce electricity
KBLI 35120 (2025)                                             through electricity generation that uses various types of energy sources, including flow energy
                                                              sources and waterfalls.
Environmental         EO1 hydropower source categories:       1) Air Putih Hydropower Plant has an Electricity Provider Business License (IUPTL) Number           Green
Objective (EO):       1) Business License in the                   26/1/IUPTL-T/PMDN/2017 which was stipulated on October 23, 2017 and is valid for a
                          Electricity    Sector   (IUPTLU          period of 30 (thirty) years and can be extended.
EO1: Climate              and/or IUPTLS)                      2) The Air Putih hydropower plant uses Run-off-River (RoR) based on the following documents:
Change Mitigation     2) Using run-off-river; or use a              a. The Environmental Management Efforts (UKL) and Environmental Monitoring Efforts
                          reservoir with a power density of             (UPL) document of the Air Putih Hydropower Plant in 2014 states that
                          >4W/m2; or Lifecycle emissions                "The Air Putih hydropower plant is planned to use the concept of run-off river (ROR)
                          from all power generation                     where there is no reservoir in the upstream part of the Ketahunan River Hydropower
                          facilities <100 gCO2e/kWh                     Plant, which is the source of hydropower energy, which is diverted by using a dam built
                                                                        perpendicular / cutting to the river flow" (p. 2-6)
                      (TKBI Version 3, p. 102)                      b. Extension of the Surface Water Extraction and Utilization Permit (SIPPA) to PT BTL
                                                                        Number: 503/13.1184/05/DPMPTSP-P.3/2022, which states:



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                                                                  PT Bangun Lestari Tirta Lestari obtained a permit to use water resources from the
                                                                  Ketahunan River. This permit is valid for 5 years, from June 24, 2022 to July 24, 2027
                                                                  and can be extended in accordance with applicable regulations.
                                                             c. The Environmental Permit Report for Semester I & II of 2025, it is written "In general,
                                                                  the lay-out of the run-off river type power generation system utilizes the flow of water
                                                                  from the Ketahunan River"
Essential Criteria   Have at least PROPER BLUE or meet 1) The Air Putih hydropower plant has environmental approvals in the form of Environmental              Green
(EC):                the following criteria:                Permits (Lebong Regent Decree Number 17 of 2015) and UKL-UPL in 2014.
                      1) Environmental Approval can be 2) Air Putih hydropower plant conducts risk management related to potential decline in water
DNSH (Do Not              in       the        form       of quality and quantity based on the following documents:
Significant Harm)         AMDAL/UKL/UPL/SPPL                a. UKL UPL HYDROPOWER PLANT Air Putih Year 2014, which states a plan to manage the
                          documents.                            risk of water quality and quantity decline in the form of water quality sampling and
                      2) Activities need to manage risks        laboratory analysis as well as field observations at the construction and operation
                          that have the potential to reduce     stages.
                          water quality and disrupt water   b. Environmental Permit Report Semester I & II Year 2025:
                          quantity by consuming water at       • PT BTL has compiled and delivered environmental management and monitoring
                          a reasonable level and having a            activities every semester.
                          water use plan and conservation      • PT BTL has been monitoring water quality every three months. Water quality analysis
                          management in accordance                   was carried out at 2 monitoring locations, namely Inlet and Outlet, with the
                          with applicable regulations.               measured parameters being physical parameters (TSS, temperature), and
                                                                     chemistry (COD, BOD)
                      (TKBI Version 3, p.743)                  • The results of the water quality analysis for the entire period (Quarter I, II, III, IV) of
                                                                     2025 show that some of the parameters monitored do not exceed the Environmental
                                                                     Quality Standards in Provincial Regional Regulation No.6 of 2005 concerning the
                                                                     Determination of Cross-Regency/City River Quality Standards in Bengkulu Province
                                                                     (Class II). However, the results of the BOD test on Inlets and Outlets in the fourth
                                                                     quarter of 2025 exceeded the required quality standard value.
                                                               • Based on the document "Minutes of Environmental Monitoring" and "E-Jounal of the
                                                                     University of Bengkulu", the results of surface water testing that exceeded the
                                                                     quality standards were due to people's mining activities around the River and
                                                                     Ketahuno River areas having a heavily polluted status. This indicates that water
                                                                     pollution is not caused by the activities of the Air Putih hydropower plant.
                                                               • PT BTL has committed to carrying out mitigation efforts in the form of strengthening
                                                                     periodic water quality monitoring and installing banners appealing to the public not
                                                                     to dump waste into the river.



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Essential Criteria    Related                                 The Holding Company, PT Kencana Energi Lestari Tbk, has supporting documents in the form of         Green
(EC):                 policies/guidelines/practices:          a Decree of the Board of Directors No.57/SK-DIR/LEG-KEL/XII/2024 concerning the
                      1) Protection and Respect for           Determination of the Policy of Respect and Protection of Human Rights Based on International
Social Aspects            Human Rights                        Standards. The decision states that:
                       2) Employment includes decent          PT Kencana Energi Lestari Tbk and all its subsidiaries are committed to ensuring that all
                           work, prevention of forced         operational activities are based on universally recognized human rights principles, including but
                           labour, protection of women and    not limited to:
                           child workers, and human           1. Non-discrimination
                           resource development               2. Forced Labor and Child Labor
                       3) The impact on people living         3. Occupational Health and Safety (K3)
                           close to investment includes job   4. Freedom of Association and Collective Bargaining
                           creation, efforts to reduce        5. Decent Wages
                           poverty and economic growth.

                      (TKBI Version 3, p. 863)
     Based on the explanation above, the business activities of the Air Putih hydropower plant meet the requirements of TKBI (Taxonomy-Aligned) of the
     GREEN classification.

      3. Madong Mini Hydropower Plant
    Assessment                                                                                                                                                    Assessment
                                  Green Criteria                                                        Explanation
       Aspects                                                                                                                                                       Results
Activity              -                                       PT Nagata Dinamika Hidro Madong (PT NDHM) is the operator company for the Madong PLTM               TBKI-
Classification:                                               which has a capacity of 2 × 5 MW (10 MW).                                                           Eligible
                                                              Based on the classification of the Indonesian Business Field Standard Classification (KBLI), the
KBLI 35101 (2017) /                                           business activities of the Madong PLTM are included in KBLI 35101 of 2017 and KBLI 35111 of
KBLI 35111 (2020) /                                           2020 which include Electricity Generation activities, as well as in KBLI 35120 of 2025 which is
KBLI 35120 (2025)                                             classified as Electricity Generation from Renewable Energy Sources.
Environmental         EO1 hydropower source categories:       1) Based on the document "NDHM - UPTL PLTM Madong. Pdf", it is known that PT Nagata                 Green
Objective (EO):        1) Business License in the                 Dinamika Hidro Madong as the operator of the Ma'dong PLTM has obtained an Electricity
                           Electricity   Sector   (IUPTLU         Supply Business License (IUPTL) with Decree Number 15/1/IUPTL - T/PMA/2017 issued on
EO1: Climate               and/or IUPTLS)                         October 31, 2017.
Change Mitigation     2) Using run-off-river; or use a        2) Based on the document "NDHM - Document DELH.pdf" does not explicitly list the use of the
                          reservoir with a power density of       Run-of-River (ROR) scheme. However, the operational and technical description of the
                          >4W/m2; or Lifecycle emissions          Madong PLTM project is explicitly described in the document "NDHM - Environmental Permit
                          from all power generation               Report RKL RPL SMT I 2025 PLTM Madong" including; PLTM Madong is a Run-of-River (ROR)
                          facilities <100 gCO2e/kWh

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                                                                type building by optimizing the use of the Maiting River, the use of the dam as water level
                     (TKBI Version 3, p. 102)                   control, Conveying Channels/Tunnels, electromechanical, and ecological flow provisions.
Essential Criteria   Have at least PROPER BLUE or meet       1. PLTM Madong has obtained an environmental permit, namely an Environmental Permit with          Green
(EC):                the following criteria:                    letter number: 297IL/DPMPTDP/XI/2021 concerning Environmental Permits for the Activity
                      1) Environmental Approval can be          Plan for the Construction of the Madong Mini Hydro Power Plant in Lembang Madong and
DNSH (Do Not               in       the       form      of      Lembang Paku, Dende Piongan Napo District, North Toraja Regency, South Sulawesi
Significant Harm)          AMDAL/UKL/UPL/SPPL                   Province as attached in the "NDHM - Document DELH.pdf".
                                                             2. The potential environmental impact arising from the activities of the Madong PLTM, both in
                           documents.
                                                                the construction and operational stages, has been identified and managed in accordance
                      2) Activities need to manage risks        with the geo-biological aspects of the EO3 criteria, especially related to water quality and
                           that have the potential to           environmental conservation. Based on the results of the review of the "NDHM - Document
                           reduce water quality and             DELH.pdf" document, it is known that PT NDMH has made efforts to identify, manage, and
                           disrupt water quantity by            monitor environmental impacts as follows:
                           consuming       water    at   a      a. Based on the 2013 UKL-UPL document contained in the "NDHM - DELH Document," PT
                                                                     NDHM has conducted a baseline analysis of water quality before the implementation of
                           reasonable level and having a
                                                                     the construction of the Madong PLTM as a reference in environmental impact
                           water      use      plan    and           monitoring.
                           conservation management in           b. Based on the DELH Document, the Company conducts periodic water quality
                           accordance with applicable                monitoring every semester (six months) which includes physical, chemical, and
                           regulations.                              biological parameters, in accordance with the environmental monitoring provisions
                                                                     listed in the UKL-UPL document and applicable quality standards.
                     (TKBI Version 3, p.743)                    c. The quality of the waters around the Madong PLTM in accordance with the
                                                                     Environmental Permit Report for the first and second semesters of 2025 shows that the
                                                                     quality of the waters around the Madong PLTM meets standard quality standards, both
                                                                     physics, chemistry, and microbiology, but there is an increase in the BOD parameters
                                                                     compared to the results of monitoring in 2024. However, all parameters monitored are
                                                                     still below the required quality standards so that they still meet the applicable
                                                                     regulations.
                                                                d. Based on the results of water quality monitoring from the aspect of aquatic biota in the
                                                                     first and second semesters of 2025, no significant changes were found in the condition
                                                                     of aquatic biota. The composition of aquatic organisms, including phytoplankton, is
                                                                     maintained and still in accordance with the baseline conditions set in the 2013 UKL-UPL
                                                                     document.
                                                             The parameters as a whole have met the quality standards even though in the check, the
                                                             parameters checked have not been consistent for upstream and downstream. Because the



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                                                                monitoring in 2025 has not been carried out consistently, the Company will conduct consistent
                                                                sample collection and checking for 2 points, in accordance with the provisions in UKL UPL 2013.
  Essential Criteria    Social    Aspect      Criteria    for   The Holding Company, PT Kencana Energi Lestari Tbk, has supporting documents in the form of          Green
  (EC):                 Corporate/Non-MSMEs:                    a Decree of the Board of Directors No.57/SK-DIR/LEG-KEL/XII/2024 concerning the
                        1) Protection and Respect for           Determination of the Policy of Respect and Protection of Human Rights Based on International
  Social Aspects            Human Rights                        Standards. The decision states that:
                        2) Employment includes decent           PT Kencana Energi Lestari Tbk and all its subsidiaries are committed to ensuring that all
                            work, prevention of forced          operational activities are based on universally recognized human rights principles, including but
                            labour, protection of women and     not limited to:
                            child workers, and human            1. Non-discrimination
                            resource development                2. Forced Labor and Child Labor
                        3) The impact on people living          3. Occupational Health and Safety (K3)
                            close to investment includes job    4. Freedom of Association and Collective Bargaining
                            creation, efforts to reduce         5. Decent Wages
                            poverty and economic growth.

                        (TKBI Version 3, p. 863)
Based on the explanation above, the business activities of the Madong PLTM meet the requirements of TKBI (Taxonomy-Aligned) of the GREEN classification.

        4. Ordi Hulu Mini Hydropower Plant
      Assessment                                                                                                                                                     Assessment
                                    Green Criteria                                                        Explanation
         Aspects                                                                                                                                                        Results
  Activity              -                                       PT Sumatra Energi Lestari (SEL) has obtained an Electricity Supply Business License (IUPTL)          TBKI-
  Classification:                                               through the OSS system with license number 34/IUPTL/OSS/2019. Based on the Business                  Eligible
                                                                Identification Number (NIB) 9120305103607, this company is the manager and operator of the
  KBLI 35101 (2017) /                                           Ordi Hulu Mini-Hydro Power Plant (PLTM) with an installed capacity of 2x5 MW (10 MW). This
  KBLI 35111 (2020) /                                           project was built to support the provision of electricity needs in Pakpak Bharat Regency, North
  KBLI 35120 (2025)                                             Sumatra Province, precisely located in Pardomuan Village, Sitellu Tali Urang Julu District.
                                                                The activities of the Ordi Hulu PLTM are categorized into KBLI 35101 (2017) / namely Electricity
                                                                Generation or KBLI 35120 (2025), namely Electricity Generation from Renewable Energy
                                                                Sources. This KBLI includes groups that include efforts to produce electricity through electricity
                                                                generation that uses various types of energy sources, including flow energy sources and
                                                                waterfalls.
  Environmental         EO1 hydropower source categories:       1. PLTM Ordi Hulu has an Electricity Supply Business License (IUPTL) Number 9120305103607            Green
  Objective (EO):                                                   which was set on October 1, 2019.


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EO1: Climate         1) Business License in the               2. Based on the results of the review of the Water Resources Exploitation Permit Document,
Change Mitigation       Electricity    Sector   (IUPTLU           although the term Run-of-River (ROR) is not explicitly mentioned, there is a strong indication
                        and/or IUPTLS)                            that the Ordi Hulu PLTM implements the Run-of-River scheme, which is supported by the
                     2) Using run-off-river; or use a             following evidence:
                        reservoir with a power density of         • The type of construction used includes weirs (weirs) and intakes. This configuration is
                        >4W/m2; or Lifecycle emissions                 in accordance with the working principle of Run-of-River Plant, which is to divert part of
                        from all power generation                      the river discharge to the waterway through raising the water level using a dam, without
                        facilities <100 gCO2e/kWh
                                                                       damming and accommodating a large amount of water to form an artificial reservoir or
                     (TKBI Version 3, p. 102)                          lake.
                                                                  • The use of water for power plant operations is circular, where the water that has been
                                                                       used must be returned to the river as a water source without reducing natural discharge
                                                                       or reducing water quality.
Essential Criteria   Have at least PROPER BLUE or meet        Based on a more in-depth review of the Environmental Management and Monitoring                        Green
(EC):                the following criteria:                  Implementation Report for the first and second semesters of 2025, the following are the details
                      1) Environmental Approval can be        of the Environmental Objective 3 (EO3) assessment related to ecosystem protection and
DNSH (Do Not              in       the       form        of   biodiversity for the Ordi Hulu PLTM:
Significant Harm)         AMDAL/UKL/UPL/SPPL                  1) Environmental Approval Ownership (EIA/ESIA)
                          documents.                          PLTM Ordi Hulu already has an Environmental Permit document from the Pakpak Bharat
                      2) Activities need to manage risks      Regency Government with Number 503/90/1215.210/VI/2022.
                          that have the potential to reduce
                          water quality and disrupt water     2) Water Quality and Quantity Risk Management
                          quantity by consuming water at      Data Semester I 2025: Test results show the main parameters are below the threshold (BML 50
                          a reasonable level and having a     mg/L for TSS; 6-9 for pH). The TSS value was recorded at 26.10 mg/L (outlet) and 22.40 mg/L
                          water use plan and conservation     (inlet), while the pH was in the range of 7.20 (outlet) and 6.85 (inlet).
                          management in accordance            Data for the second semester of 2025: Water quality consistency is maintained with TSS of 27.00
                          with applicable regulations.        mg/L (outlet) and 30.00 mg/L (inlet) and pH in the range of 7.10 - 7.38.
                                                              The exploitation of water resources has received a permit from the Minister of PUPR (No.
                     (TKBI Version 3, p.743)                  710/KPTS/M/2024) which requires the return of circulating water discharge without reducing the
                                                              amount of natural discharge of the river
                                                              Based on data from the Environmental Management and Monitoring Implementation Report for
                                                              the first and second semesters of 2025, all water test environmental parameters show
                                                              compliance with the applicable quality standards in Indonesia, supported by the legality of
                                                              environmental permits and complete water resource utilization permits.
Essential Criteria   Related                                  The Holding Company, PT Kencana Energi Lestari Tbk, has supporting documents in the form of           Green
(EC):                policies/guidelines/practices:           a Decree of the Board of Directors No.57/SK-DIR/LEG-KEL/XII/2024 concerning the

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                      1) Protection and Respect for           Determination of the Policy of Respect and Protection of Human Rights Based on International
Social Aspects           Human Rights                         Standards. The decision states that:
                      2) Employment includes decent           PT Kencana Energi Lestari Tbk and all its subsidiaries are committed to ensuring that all
                         work, prevention of forced           operational activities are based on universally recognized human rights principles, including but
                         labour, protection of women and      not limited to:
                         child workers, and human             1. Non-discrimination
                         resource development                 2. Forced Labor and Child Labor
                      3) Impact on people living close to     3. Occupational Health and Safety (K3)
                         investment,     including    job     4. Freedom of Association and Collective Bargaining
                         creation, poverty reduction and      5. Decent Wages
                         economic growth

                      (TKBI Version 3, p. 863)
     Based on the explanation above, the business activities of the Ordi Hulu PLTM meet the requirements of TKBI (Taxonomy-Aligned) of the GREEN
     classification.

      5. Salu Noling Mini Hydropower Plant
    Assessment                                                                                                                                                     Assessment
                                  Green Criteria                                                        Explanation
       Aspects                                                                                                                                                        Results
Activity              -                                       PT Tiara Tirta Energi has obtained an Electricity Supply Business License (IUPTL) through the OSS    TBKI-
Classification:                                               system with a license number 12130004411450003, which is strengthened by the Letter of the           Eligible
                                                              Director of Electricity Business Development Number B-2932/TL.04/DLB.1/2024 related to the
KBLI 35101 (2017) /                                           Fulfillment of IUPTLU's Commitments. PT Tiara Tirta Energi is the manager and operator of the
KBLI 35111 (2020) /                                           Salu Noling Mini-Hydro Power Plant (PLTM) with an installed capacity of 2x5.8 MW (11.6 MW)
KBLI 35120 (2025)                                             and a power contract of 10 MW.
                                                              The activities of the Salu Noling PLTM are categorized into KBLI 35101 (2017), namely Electricity
                                                              Generation or KBLI 35120 (2025), namely Electricity Generation from Renewable Energy
                                                              Sources. This KBLI includes groups that include efforts to produce electricity through electricity
                                                              generation that uses various types of energy sources, including flow energy sources and
                                                              waterfalls.
Environmental         EO1 hydropower source categories:       1. In accordance with the document "TTE - IUPTL PLTM Salu Noling.pdf", PT Tiara Tirta Energi as      Green
Objective (EO):        1) Business License in the             the operator of PLTM Salu Noling has obtained an Electricity Supply Business License (IUPTL),
                          Electricity    Sector   (IUPTLU     with license number: 12130004411450003 issued on September 3, 2024.
EO1: Climate              and/or IUPTLS)                      2. Based on the document "TTE - UKL-UPL PLTM Salu Noling.pdf" part II of the Salu Noling PLTM
Change Mitigation     2) Using run-off-river; or use a        Activity Plan, the Salu Noling PLTM is planned to use the Run Off River (ROR) scheme in the use
                          reservoir with a power density of   of Salu Noling river water.

                                                                                     20

Page 23
                          >4W/m2; or Lifecycle emissions    3. Based on the RKL-RPL Implementation Report (Environmental Permit Report) Semester I and
                          from all power generation         II of 2025, the status of the Salu Noling PLTM project is currently still in the construction stage
                          facilities <100 gCO2e/kWh         and has not yet been operational. Based on the evaluation until the end of the second semester
                                                            of 2025, the project has recorded significant physical progress compared to the previous period.
                     (TKBI Version 3, p. 102)               Based on Figure 1.2 (Layout of the Salu Noling Power Plant), the plant design utilizes the flow of
                                                            the Salu Noling River by diverting water to the conveyor channel and returning it to the river after
                                                            it is used for generation. The configuration shows that the Salu Noling PLTM is designed with the
                                                            principle of run-of-river.
Essential Criteria   Have at least PROPER BLUE or meet      Based on a more in-depth review of the RKL-RPL Implementation Report for Semester I and II of          Green
(EC):                the following criteria:                2025, the following are the details of the Environmental Objective 3 (EO3) assessment related
                      1) Environmental Approval can be      to ecosystem protection and biodiversity for the Salu Noling PLTM:
DNSH (Do Not              in       the       form        of
Significant Harm)         AMDAL/UKL/UPL/SPPL                1. The project has met the administrative criteria of DNSH with the possession of
                          documents.                            Environmental Permit No. 010/SIL/DPMPTS/X/2017 and UKL-UPL recommendations.
                      2) Activities need to manage risks 2. Water Quality and Quantity Risk Management
                          that have the potential to reduce     Based on the Environmental Permit Report for Semester I and II of 2025:
                          water quality and disrupt water       The water quality parameters show a very significant improvement trend from Semester 1 to
                          quantity by consuming water at        Semester 2:
                          a reasonable level and having a        • Total Suspended Solids (TSS): In January 2025 monitoring (Semester 1), TSS levels were
                          water use plan and conservation            recorded at 52 mg/L, which exceeded the Class II water quality standard (50 mg/L) due
                          management in accordance                   to excavation activities. However, in the January 2026 monitoring (Semester 2), the TSS
                          with applicable regulations.               value dropped drastically to 10 mg/L, so that it again met the standard.
                                                                 • Degree of Acidity (pH): The pH value in Semester 1 had reached 9.9 (alkaline) which
                     (TKBI Version 3, p.743)                         exceeded the quality standard range of 6–9. In Semester 2, this condition has been
                                                                     corrected with a pH value that returns to normal in the range of 7.14 to 7.34.
                                                                 • Total Dissolved Solids (TDS): The TDS parameter is consistently below the threshold
                                                                     throughout 2025, with a value of 130 mg/L in Semester 1 and a drop to 30 mg/L in
                                                                     Semester 2.
Essential Criteria   Related                                The Holding Company, PT Kencana Energi Lestari Tbk, has supporting documents in the form of            Green
(EC):                policies/guidelines/practices:         a Decree of the Board of Directors No.57/SK-DIR/LEG-KEL/XII/2024 concerning the
                      1) Protection and Respect for Determination of the Policy of Respect and Protection of Human Rights Based on International
Social Aspects            Human Rights                      Standards. The decision states that:
                      2) Employment includes decent PT Kencana Energi Lestari Tbk and all its subsidiaries are committed to ensuring that all
                          work, prevention of forced operational activities are based on universally recognized human rights principles, including but
                          labour, protection of women and not limited to:
                                                            1. Non-discrimination


                                                                                   21

Page 24
                   child workers, and human           2. Forced Labor and Child Labor
                   resource development               3. Occupational Health and Safety (K3)
                3) The impact on people living        4. Freedom of Association and Collective Bargaining
                   close to investment includes job   5. Decent Wages
                   creation, efforts to reduce
                   poverty and economic growth.

               (TKBI Version 3, p. 863)
Based on the explanation above, the business activities of PLTM Salu Noling meet the requirements of TKBI (Taxonomy-Aligned) GREEN
classification.




                                                                            22

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Page 26
Daftar Isi
1.     Informasi Umum ............................................................................................................ 1
2.     Tim Reviu ....................................................................................................................... 1
3.     Profil Perusahaan Tercatat ............................................................................................. 2
4.     Prosedur Penilaian ........................................................................................................ 3
5.     Analisa Penilaian ............................................................................................................ 4
       5.1.       Pemetaan Perusahaan Anak ............................................................................... 5
       5.2.       Penilaian Taksonomi Per Perusahaan Anak dan Aktivitas ..................................... 5
       5.3.       Penilaian Keuangan / Finansial ............................................................................ 7
       5.4.       Ringkasan Hasil Penilaian Tingkat Perusahaan Induk ........................................... 8
6.     Opini............................................................................................................................ 10
7.     Lampiran ..................................................................................................................... 11
     Lampiran 1: Daftar Dokumen Pendukung Penilaian ........................................................... 11
     Lampiran 2: Penilaian TKBI-Alignment per Aktivitas Usaha ................................................. 12
          1.      PLTA Pakkat...................................................................................................... 12
          2.      PLTA Air Putih ................................................................................................... 14
          3.      PLTM Madong ................................................................................................... 16
          4.      PLTM Ordi Hulu................................................................................................. 18
          5.      PLTM Salu Noling .............................................................................................. 20




                                                                    ii

Page 27
1. Informasi Umum
Tanggal Penerbitan        : 18 Agustus 2026
Laporan
Nomor Revisi Laporan      :   0
Status Laporan            :   ☒ Final    ☐ Draft ☐ Revisi
Nama Perusahaan           :   PT Kencana Energi Lestari Tbk (KEEN)
Nama Direksi Penanggung   :   Giat Widjaja
Jawab
Alamat Email              : corporate.secretary@kencanaenergy.com
Nomor Telepon             : 021-58900791
Alamat Kantor Pusat       : Kencana Tower, 11th Floor, Business Park
                            Kebon Jeruk, Jl. Meruya Ilir Raya No. 88
                            Jakarta Barat 11620
Dokumen Penilaian         : Dokumen Surat Pendaftaran dan Permohonan Penetapan
                            Saham Berbasis Hijau 2025
Tujuan Penilaian          : Melaksanakan reviu eksternal dengan keluaran berupa
                            laporan penilaian dan opini independen terhadap
                            Dokumen Surat Pendaftaran dan Permohonan Penetapan
                            Saham Berbasis Hijau PT Kencana Energi Lestari Tbk
                            (KEEN) untuk Periode 2025.
Ruang Lingkup               Ruang lingkup penilaian adalah sebagai berikut:
                             • Sektor Usaha adalah Sektor Energi, subsektor
                                 Pembangkit Listrik (KBLI: 35101); (KBLI 2020: 35111);
                                 (KBLI 2025: 35120).
                             • Batasan penilaian Tingkat Portofolio meliputi:
                                  1. PT Energi Sakti Sentosa (ESS) yang
                                      mengoperasikan PLTA Pakkat
                                  2. PT Bangun Tirta Lestari (BTL) yang
                                      mengoperasikan PLTA Air Putih
                                  3. PT Nagata Dinamika Hidro Madong (NDHM) yang
                                      mengoperasikan PLTM Madong
                                  4. PT Sumatera Energi Lestari (SEL) yang
                                      mengoperasikan PLTM Ordi Hulu
                                  5. PT Tiara Tirta Energi (TTE) yang mengoperasikan
                                      PLTM Salu Noling
Tingkat Jaminan           : Terbatas
Periode penilaian           1 Januari – 31 Desember 2025



2. Tim Reviu
Nama Lembaga Reviu        : PT Superintending Company of Indonesia (SUCOFINDO)
Eksternal                   (Persero)
Alamat Kantor Lembaga     : Graha Sucofindo, Jl. Raya Pasar Minggu No.Kav. 34,
Reviu Eksternal             RT.4/RW.1, Pancoran, Kec. Pancoran, Kota Jakarta
                            Selatan, Daerah Khusus Ibukota Jakarta 12780
Independent Reviewer      : Dikman Purnama
Tim Reviu Eksternal       : Lead: Putri Rafika Dewi
                            Anggota 1: Galuh Chynintya R.P.
                            Anggota 2: Reza Mochammad Fadhlur Rahman

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Page 28
                                   Anggota 3: Diah Nur Oktavia
 Acuan Reviu Eksternal           : 1. Taksonomi Keuangan Berkelanjutan Indonesia (TKBI)
                                   2. WFE Green Equity Principles
 Ringkasan Kesimpulan            : ☒ Hijau
 Penilaian                         ☐ Transisi
                                   ☐ Tidak Memenuhi
                                    PT SUCOFINDO selaku Penyedia Reviu Eksternal telah
                                    melakukan penilaian Tingkat Portofolio terhadap Dokumen
                                    Surat Pendaftaran dan Permohonan Penetapan Saham
                                    Berbasis Hijau PT Kencana Energi Lestari Tbk untuk periode
                                    2025. Berdasarkan tinjauan penilaian, tidak ada hal yang
                                    menjadi perhatian kami yang menyebabkan kami yakin
                                    bahwa pernyataan saham berbasis hijau tersebut
                                    mengandung salah saji yang material. Kami menyimpulkan
                                    bahwa klaim PT Kencana Energi Lestari Tbk mengenai
                                    klasifikasi Saham Berbasis Hijau untuk periode pelaporan
                                    tahun 2025 telah memenuhi kriteria yang dipersyaratkan
                                    dalam Penetapan Saham Berbasis Hijau, mengenai semua
                                    hal yang material.


3. Profil Perusahaan Tercatat
PT Kencana Energi Lestari, Tbk. (KEEN) merupakan perusahaan yang bergerak di bidang
pengembangan dan penyedia tenaga listrik berbasis energi baru terbarukan (new and renewable
energy developer) yang beroperasi sebagai Independent Power Producer (IPP) di Indonesia.
Perseroan berfokus pada pengembangan, konstruksi, pengoperasian, hingga pemeliharaan
sistem pembangkit listrik berbasis energi baru terbarukan (EBT), khususnya Pembangkit Listrik
Tenaga Air (PLTA) serta beberapa inisiatif energi bersih lainnya seperti biomassa dan solar power.

PT Kencana Energi Lestari didirikan pada tahun 2008 sebagai bagian dari ekspansi bisnis
Kencana Group, sebuah kelompok usaha nasional yang memiliki portofolio bisnis di sektor
konstruksi, energi, dan infrastruktur. Sejak awal berdiri, Perseroan berkomitmen untuk
menyediakan energi bersih, berkelanjutan, dan andal guna memenuhi kebutuhan listrik nasional
yang terus mengalami peningkatan, serta mendukung percepatan transisi energi di Indonesia.
Dalam menjalankan model bisnisnya, Perseroan mengembangkan proyek -proyek pembangkit
listrik melalui skema Power Purchase Agreement (PPA) dengan PT PLN (Persero) sebagai offtaker
tenaga listrik. Seiring dengan perkembangan usahanya, Perseroan terus memperkuat portofolio
pembangkit energi terbarukan serta mengedepankan pengelolaan sumber daya alam yang
bertanggung jawab dan penerapan prinsip keberlanjutan. Pada tahun 2019, Perseroan
melaksanakan Penawaran Umum Perdana Saham (Initial Public Offering/IPO) dan resmi
mencatatkan sahamnya di Bursa Efek Indonesia dengan kode saham KEEN, sebagai bagian dari
upaya memperkuat kapasitas pendanaan dan mendukung pengembangan usaha di sektor
energi terbarukan.

Saat ini, Perusahaan telah aktif dalam pengembangan berbagai proyek energi terbarukan,
mencakup Pembangkit Listrik Tenaga Air (PLTA), Biomassa (PLTBm), dan Surya (PLTS), yang telah
beroperasi maupun masih dalam tahap pengembangan.


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4. Prosedur Penilaian
Prosedur penilaian keselarasan portofolio Perusahaan Induk mengacu pada Lampiran 13 TKBI
Versi 3 tentang Penilaian TKBI pada Tingkat Portofolio (Gambar 1).




                        Gambar 1. Penilaian TKBI di tingkat Portofolio

Penilaian dilakukan secara bertahap. Proses dimulai dengan memetakan setiap perusahaan
anak dan investasi yang berada dalam lingkup portofolio, menilai aktivitas ekonomi masing-
masing perusahaan secara individual, lalu menggabungkan seluruh hasil penilaian untuk
memperoleh profil keselarasan TKBI pada tingkat Perusahaan Induk. Pendekatan ini penting
karena tingkat keselarasan portofolio tidak dapat langsung ditentukan hanya berdasarkan jenis
usaha atau nama perusahaan. Setiap perusahaan anak dapat memiliki beberapa aktivitas
dengan tingkat keselarasan yang berbeda, sehingga seluruh aktivitas perlu ditelaah terlebih
dahulu sebelum hasilnya dikonsolidasikan.

Tahap awal dilakukan melalui inventarisasi / pemetaan seluruh perusahaan anak, investasi,
dan aktivitas ekonomi yang berada dalam lingkup penilaian. Informasi yang dihimpun sekurang-
kurangnya mencakup nama perusahaan anak/investasi, nama dan deskripsi aktivitas usaha,
serta kode dan deskripsi KBLI. Data tersebut perlu disusun secara lengkap dan konsisten agar
setiap aktivitas dapat ditelusuri serta dikaitkan dengan perusahaan yang menjalankannya.
Pemetaan ini juga menjadi dasar untuk menentukan apakah suatu aktivitas telah termasuk
dalam ruang lingkup TKBI atau berstatus TKBI-eligible. Aktivitas yang belum tercakup dalam
sektor atau daftar aktivitas TKBI tetap dicatat, tetapi diperlakukan sebagai TKBI-non-eligible atau
out of scope.

Aktivitas yang termasuk dalam cakupan TKBI selanjutnya dinilai tingkat keselarasannya atau
TKBI-alignment pada tingkat aktivitas. Penilaian dilakukan menggunakan Technical Screening
Criteria (TSC) yang sesuai dengan sektor dan karakteristik aktivitas. Tahap ini diawali dengan
penilaian apakah aktivitas memberikan kontribusi yang memenuhi kriteria terhadap
Environmental Objective (EO) utama yang dipilih. Selanjutnya, penilaian Essential Criteria (EC)
setiap aktivitas untuk memastikan bahwa aktivitas usaha tidak menimbulkan kerusakan yang
signifikan terhadap aspek lain. Penilaian EC terdiri dari penilaian Do No Significant Harm (DNSH),
Remedial Measures to Transition (RMT) serta pemenuhan aspek sosial. Berdasarkan hasil
penilaian tersebut, setiap aktivitas dikelompokkan ke dalam kategori Hijau, Transisi, Tidak
Memenuhi Klasifikasi, atau TKBI-non-eligible. Kategori Hijau diberikan kepada aktivitas yang
memenuhi kriteria Hijau dalam TKBI, sedangkan kategori Transisi diberikan kepada aktivitas yang

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memenuhi kriteria transisi yang telah ditetapkan. Aktivitas yang termasuk dalam cakupan TKBI
tetapi tidak memenuhi kriteria Hijau maupun Transisi dicatat sebagai Tidak Memenuhi Klasifikasi.
Sementara itu, aktivitas yang belum memiliki cakupan atau kriteria penilaian dalam TKBI dicatat
sebagai TKBI-non-eligible.

Apabila satu perusahaan anak menjalankan lebih dari satu aktivitas ekonomi, hasil penilaian
setiap aktivitas terlebih dahulu diagregasikan untuk memperoleh profil keselarasan pada tingkat
entitas. Agregasi dapat menggunakan indikator Revenue, Capital Expenditure, atau Operating
Expenditure, sesuai dengan karakteristik usaha, tahap perkembangan aktivitas, dan tujuan
penilaian. Setiap perusahaan anak selanjutnya akan memiliki profil persentase yang
menunjukkan porsi aktivitas Hijau, Transisi, Tidak Memenuhi Klasifikasi, dan TKBI-non-eligible.
Profil tersebut kemudian digunakan sebagai dasar penilaian pada tingkat Perusahaan Induk.
Dalam proses agregasi portofolio, kontribusi masing-masing perusahaan anak dibobot
berdasarkan proporsinya terhadap total Revenue, CapEx, atau OpEx Perusahaan Induk.
Persentase pada setiap kategori di tingkat perusahaan anak dikalikan dengan bobot kontribusi
perusahaan tersebut, lalu dijumlahkan dengan hasil perusahaan anak lainnya. Dengan cara ini,
perusahaan anak dengan kontribusi finansial lebih besar akan memberikan pengaruh yang lebih
besar terhadap hasil penilaian portofolio.

Hasil akhir penilaian Perusahaan Induk disajikan dalam bentuk profil persentase portofolio,
bukan sebagai satu klasifikasi tunggal. Profil tersebut menunjukkan besarnya bagian portofolio
yang termasuk kategori Hijau, Transisi, Tidak Memenuhi Klasifikasi, dan TKBI-non-eligible atau
out of scope. Pendekatan ini memberikan gambaran yang lebih utuh mengenai kondisi portofolio
karena dapat menunjukkan aktivitas yang telah selaras, aktivitas yang masih berada dalam
proses transisi, aktivitas yang belum memenuhi persyaratan, serta aktivitas yang belum
tercakup dalam TKBI. Hasil tersebut juga dapat digunakan untuk menilai perkembangan
portofolio dari waktu ke waktu dan melihat perubahan arah investasi Perusahaan Induk.


5. Analisa Penilaian
Bagian ini menyajikan hasil asesmen keselarasan portofolio PT Kencana Energi Lestari Tbk
(KEEN) terhadap Taksonomi untuk Keuangan Berkelanjutan Indonesia (TKBI) Versi 3.

Mengingat struktur organisasi Perseroan sebagai perusahaan induk dengan berbagai entitas
anak di sektor pembangkitan tenaga listrik, penilaian dilakukan menggunakan pendekatan
Tingkat Portofolio Perusahaan Induk. Sejalan dengan kerangka kerja TKBI, evaluasi dilaksanakan
secara berjenjang: keselarasan diidentifikasi terlebih dahulu pada tingkat Aktivitas
menggunakan Technical Screening Criteria (TSC), yang kemudian diagregasi menjadi penilaian
keselarasan tingkat Entitas untuk setiap anak perusahaan, sebelum akhirnya dikonsolidasikan
secara kumulatif pada level Portofolio grup.

Pendapatan (Revenue) ditetapkan sebagai pendekatan agregasi utama dalam penilaian ini.
Pemilihan metrik ini didasarkan pada kondisi operasional entitas anak yang mayoritas telah
berada pada tahap beroperasi secara komersil, sehingga pendapatan dari penjualan listrik
menjadi ukuran paling tepat untuk menunjukkan seberapa besar bisnis Perusahaan Induk yang
sudah sesuai dengan klasifikasi hijau TKBI.

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Penilaian ini mencakup periode tahun 2025 dengan memanfaatkan data keuangan
tersegmentasi, dokumen perizinan, laporan operasional, serta data kinerja lingkungan dan
sosial dari masing-masing entitas anak. Seluruh angka keuangan yang digunakan merujuk pada
data dalam laporan keuangan yang telah diaudit. Oleh karena itu, penilaian ini berfokus pada
keselarasan taksonomi dan tidak mencakup prosedur audit atas laporan keuangan tersebut.

  5.1. Pemetaan Perusahaan Anak
Langkah awal penilaian dilakukan dengan memetakan portofolio perusahaan induk menjadi
daftar investasi perusahaan anak secara individual. Berdasarkan Surat Permohonan Penetapan
Saham Berbasis Hijau yang diajukan PT Kencana Energi Lestari Tbk tahun 2025 kepada PT Bursa
Efek Indonesia, diketahui bahwa Perseroan menjalankan usaha pembangkitan listrik yang
bersumber dari energi baru terbarukan (EBT) melalui Perusahaan anak.

Hingga periode pelaporan 2025, PT Kencana Energi Lestari Tbk telah mengembangkan proyek
Pembangkit Listrik Tenaga Air (PLTA) dan Pembangkit Listrik Tenaga Minihidro (PLTM). Hasil
pemetaan Perusahaan anak PT Kencana Energi Lestari Tbk disajikan pada Tabel 3.1.
                     Tabel 3. 1. Pemetaan Perusahaan Anak PT Kencana Energi Lestari Tbk.
                                                                           Tanggal Operasi
                                     Aktivitas                                                Persentase
  No      Perusahaan Anak                                   Lokasi           Komersial
                                      Usaha                                                   Kepemilikan
                                                                               (COD)
                                                      Kab. Humbang
       PT Energy Sakti Sentosa
  1                                PLTA Pakkat         Kasundutan,          31 Januari 2018        75,00%
       (“ESS”)
                                                      Sumatera Utara
       PT Bangun Tirta Lestari                           Kab. Lebong,
  2                                PLTA Air Putih                           22 Januari 2020        98,40%
       (“BTL”)                                            Bengkulu

       PT Nagata Dinamika                            Kab. Toraja Utara,
  3                                PLTM Madong                               25 Maret 2022         74,42%
       Hidro Madong (“NDHM”)                         Sulawesi Selatan
                                                       Kab. Pakpak
       PT Sumatera Energi          PLTM Ordi
  4                                                  Bharat, Sumatera        31 Maret 2024         90,00%
       Lestari (“SEL”)             Hulu
                                                          Utara
       PT Tiara Tirta Energi       PLTM Salu            Kab. Luwu,
  5                                                                        Belum beroperasi        75,00%
       (“TTE”)                     Noling            Sulawesi Selatan



  5.2. Penilaian Taksonomi Per Perusahaan Anak dan Aktivitas
Penting untuk dipahami bahwa tidak seluruh aktivitas ekonomi yang tercantum dalam Klasifikasi
Baku Lapangan Usaha Indonesia (KBLI) masuk ke dalam cakupan Taksonomi untuk Keuangan
Berkelanjutan Indonesia (TKBI). Taksonomi ini hanya mencakup aktivitas-aktivitas yang dinilai
memberikan kontribusi substansial terhadap tujuan ekonomi, lingkungan, maupun sosial, yang
kemudian dikategorikan sebagai aktivitas TKBI-eligible.

Dalam proses penilaian ini, operasional dari masing-masing perusahaan anak diuraikan menjadi
aktivitas ekonomi individu berbasis kode KBLI untuk mengidentifikasi status eligibilitasnya.
Aktivitas yang teridentifikasi masuk dalam cakupan taksonomi selanjutnya dianalisis lebih
mendalam berdasarkan pemenuhan Tujuan Lingkungan (Environmental Objective/EO) Utama
serta Kriteria Esensial (EC). Analisis Kriteria Esensial ini mencakup penilaian Do No Significant
Harm (DNSH) dan pemenuhan Social Aspect (SA).

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  Tabel berikut menyajikan hasil penilaian TKBI eligibility atas aktivitas ekonomi yang dijalankan
  oleh grup usaha PT Kencana Energi Lestari Tbk berdasarkan ketentuan teknis dalam TKBI.
                 Tabel 3. 2. Penilaian TKBI-Eligibility terhadap Aktivitas Ekonomi PT Kencana Energi Lestari Tbk
Nama Perusahaan             Aktivitas                                                      TKBI          Skala Usaha dan
                                                               KBLI
      Anak                   Usaha                                                      Eligibility     Metode Penilaian
PT Energi Sakti           PLTA Pakkat        KBLI 35101 (2017) / KBLI 35111               TKBI-       Korporasi - Technical
Sentosa (ESS)                                (2020) - Pembangkitan Tenaga                Eligible     Screening     Criteria
                                             Listrik atau                                             (TSC)
                                             KBLI 35120 (2025) - Pembangkitan
                                             Tenaga Listrik dari Sumber Energi
                                             Terbarukan.
PT Bangun Tirta           PLTA Air Putih     KBLI 35101 (2017) / KBLI 35111               TKBI-       Korporasi - Technical
Lestari (BTL)                                (2020) - Pembangkitan Tenaga                Eligible     Screening     Criteria
                                             Listrik atau                                             (TSC)
                                             KBLI 35120 (2025) - Pembangkitan
                                             Tenaga Listrik dari Sumber Energi
                                             Terbarukan.
PT Nagata                 PLTM               KBLI 35101 (2017) / KBLI 35111               TKBI-       Korporasi - Technical
Dinamika Hidro            Madong             (2020) - Pembangkitan Tenaga                Eligible     Screening     Criteria
Madong (NDHM)                                Listrik atau                                             (TSC)
                                             KBLI 35120 (2025) - Pembangkitan
                                             Tenaga Listrik dari Sumber Energi
                                             Terbarukan.
PT Sumater Energi         PLTM Ordi          KBLI 35101 (2017) / KBLI 35111               TKBI-       Korporasi - Technical
Lestari (SEL)             Hulu               (2020) - Pembangkitan Tenaga                Eligible     Screening     Criteria
                                             Listrik atau                                             (TSC)
                                             KBLI 35120 (2025) - Pembangkitan
                                             Tenaga Listrik dari Sumber Energi
                                             Terbarukan.
PT Tirta Tiara            PLTM Salu          KBLI 35101 (2017) / KBLI 35111               TKBI-       Korporasi - Technical
Energi (TTE)              Noling             (2020) - Pembangkitan Tenaga                Eligible     Screening     Criteria
                                             Listrik atau                                             (TSC)
                                             KBLI 35120 (2025) - Pembangkitan
                                             Tenaga Listrik dari Sumber Energi
                                             Terbarukan.

  Berdasarkan hasil penilaian TKBI eligibility, seluruh aktivitas ekonomi yang dimiliki oleh PT
  Kencana Energi Lestari Tbk dapat dikategorikan sebagai TKBI-Eligible, sebagaimana ditunjukan
  pada Tabel 3.2. Dengan demikian, proses penilaian tingkat aktivitas dapat dilanjutkan ke tahap
  berikutnya, yaitu menilai apakah setiap aktivitas memenuhi persyaratan klasifikasi TKBI: Hijau,
  Transisi, atau Tidak Memenuhi Klasifikasi. Table 3.3 menunjakkan Kesimpulan hasil penilaian
  TKBI-alignment untuk setiap aktivitas usaha PT Kencana Energi Lestari Tbk (KEEN). Secara rinci,
  penilaian TKBI-alignment disajikan pada Lampiran 2.
         Tabel 3. 3. Ringkasan Penilaian TKBI-Alignment terhadap Aktivitas Ekonomi PT Kencana Energi Lestari Tbk
                 Anak                Aktivitas                     Penilaian Taksonomi (TKBI - Alignment)
    No
              Perusahaan            Perusahaan                EO                 EC           Aspek Sosial         Klasifikasi
                                                       EO1 Climate
           PT Energy Sakti                                                 DNSH:              Aspek Sosial:
     1                              PLTA Pakkat        Change                                                        Hijau
           Sentosa (“ESS”)                                                 memenuhi           Memenuhi
                                                       Mitigation




                                                               6

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                                                           EO1 Climate
              PT Bangun Tirta                                                    DNSH:              Aspek Sosial:
         2                               PLTA Air Putih    Change                                                           Hijau
              Lestari (“BTL”)                                                    memenuhi           Memenuhi
                                                           Mitigation
                                                           EO1 Climate
              PT Tiara Tirta             PLTM Salu                               DNSH:              Aspek Sosial:
         3                                                 Change                                                           Hijau
              Energi (“TTE”)             Noling                                  memenuhi           Memenuhi
                                                           Mitigation
              PT Sumatera                                  EO1 Climate
                                         PLTM Ordi                               DNSH:              Aspek Sosial:
         4    Energi Lestari                               Change                                                           Hijau
                                         Hulu                                    memenuhi           Memenuhi
              (“SEL”)                                      Mitigation
              PT Nagata                                    EO1 Climate
                                                                                 DNSH:              Aspek Sosial:
         5    Dinamika Hidro             PLTM Madong       Change                                                           Hijau
                                                                                 memenuhi           Memenuhi
              Madong (“NDHM”)                              Mitigation



         5.3. Penilaian Keuangan / Finansial
      Penilaian keuangan/finansial mengacu pada standar WFE Green Equity Principles yang memiliki
      kriteria sebagai berikut:

        Green Equity              1) Tahap Pendapatan: >50% total pendapatan tahunan tergolong hijau,
        Designation                  atau
                                  2) Tahap Pra-Pendapatan: >50% investasi (Opex atau Capex)
                                     berkontribusi pada ekonomi hijau
        Green Equity              1) Tahap Pendapatan: >50% total pendapatan tahunan tergolong hijau,
        Transition                   atau
        Designation               2) Tahap Pra-Pendapatan: >50% investasi (Opex atau Capex)
                                     dialokasikan pada aktivitas yang terklasifikasi sebagai hijau atau
                                     transisi.

      Penilaian dilakukan berdasarkan Laporan Keuangan PT Kencana Energi Lestari Tbk tahun 2025.
      Aktivitas usaha Perusahaan Anak seluruhnya berada di tahap pendapatan sehingga penilaian
      menggunakan indikator Pendapatan (Revenue) aktivitas hijau. Berikut rincian penilaian
      keuangan/finansial:
                               Tabel 3.4 Penilaian Keuangan / Finansial PT Kencana Energi Lestari Tbk
                                                                        Penilaian Keuangan Hijau Tingkat Portofolio
                                                                                  C=                                 E=
                                                  A             B                                    D                           F=CxE
     Perusa   Aktivitas                                                       (B/A) x 100%                      (D/B) x 100%
                                Penilaian                                                                                       % Agregasi
No    haan    Perusaha                        Revenue                                             Green          % Green
                               Taksonomi                   Total Revenue      % Revenue                                         Pendapatan
      Anak       an                           Perusaha                                           Revenue         Revenue
                                                            Perusahaan        Perusahaan                                         Hijau per
                                              an Induk                                          Perusahaan      Perusahaan
                                                            Anak (USD)           Anak                                           Perusahaan
                                               (USD)                                            Anak (USD)         Anak
                                                                                                                                   Anak
              PLTA
1    PT ESS                      Hijau                         5.690.867             16,58%        5.690.867          100,00%       16,58%
              Pakkat

              PLTA Air
2    PT BTL                      Hijau                         9.201.621             26,80%        9.201.621          100,00%       26,80%
              Putih
                                              34.333.492
              PLTM Salu
3    PT TTE                      Hijau                        10.530.605             30,67%       10.530.605          100,00%       30,67%
              Noling
              PLTM Ordi
4    PT SEL                      Hijau                         4.002.027             11,66%        4.002.027          100,00%       11,66%
              Hulu




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    PT      PLTM
5                          Hijau                     4.870.242         14,19%           4.870.242   100,00%    14,19%
    NDHM    Madong

                                                                 % Pendapatan Hijau Portofolio                  99,89%
                                                                          Klasifikasi                         HIJAU
    *Sumber data Pendapatan: Laporan Keuangan PT Kencana Energi Lesteri Tbk Tahun 2025

    Berdasarkan Tabel 3.4, PT Kencana Energi Lestari Tbk memiliki pendapatan hijau tingkat
    portofolio sebesar 99,89% pada periode 2025. Oleh karena itu, PT Kencana Energi Lestari Tbk
    telah memenuhi kriteria Hijau dan terklasifikasi sebagai HIJAU.

     5.4. Ringkasan Hasil Penilaian Tingkat Portofolio
      Nama Organisasi                     :    PT Kencana Energi Lestari, Tbk
      Kode Perusahaan Tercatat            :    KEEN
      Sektor / Subsektor                  :    Energi / Pembangkit Listrik (KBLI 2025: 35120)
      Program/Mekanisme                   :    IDX Green Equity Designation
      Standar Acuan                       :    1. Taksonomi Keuangan Berkelanjutan Indonesia (TBKI)
                                               2. WFE Green Equity Principles
      Ruang Lingkup                       :    Level Portofolio - Perusahaan Induk
      Periode Penilaian                   :    1 Januari 2025 – Desember 2025




                                                         8

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                                                                                                                                     Penilaian Keuangan /
                                                                                Penilaian Taksonomi (TKBI - Alignment)
                                                                                                                                           Finansial
      Perusahaan        Aktivitas    Kode Aktivitas /      Sektor /                                                                                   %
No                                                                                                                                % Agregasi
         Anak          Perusahaan         KBLI            Subsektor                                                                              Pendapatan
                                                                           EO             EC        Aspek Sosial    Klasifikasi   Pendapatan
                                                                                                                                                     Hijau
                                                                                                                                     Hijau
                                                                                                                                                  Portofolio
     PT Energy Sakti                 KBLI 35101 [2017]/     Energi,    EO1 Climate    DNSH:         Aspek Sosial:
1    Sentosa           PLTA Pakkat   KBLI 35111 [2020]/   Pembangkit   Change         memenuhi      Memenuhi             Hijau      16,58%
     (“ESS”)                         KBLI 35120 [2025]/     Listrik    Mitigation

     PT Bangun                       KBLI 35101 [2017]/     Energi,    EO1 Climate    DNSH:         Aspek Sosial:
                       PLTA Air                           Pembangkit   Change         memenuhi      Memenuhi
2    Tirta Lestari                   KBLI 35111 [2020]/                                                                  Hijau      26,80%
                       Putih                                Listrik    Mitigation
     (“BTL”)                         KBLI 35120 [2025]/
                                     KBLI 35101 [2017]/     Energi,    EO1 Climate    DNSH:         Aspek Sosial:
     PT Tiara Tirta    PLTM Salu                          Pembangkit   Change         memenuhi      Memenuhi
3                                    KBLI 35111 [2020]/                                                                  Hijau      30,67%        99,89%
     Energi (“TTE”)    Noling                               Listrik    Mitigation
                                     KBLI 35120 [2025]/
     PT Sumatera                     KBLI 35101 [2017]/     Energi,    EO1 Climate    DNSH:         Aspek Sosial:
                       PLTM Ordi                          Pembangkit   Change         memenuhi      Memenuhi
4    Energi Lestari                  KBLI 35111 [2020]/                                                                  Hijau      11,66%
                       Hulu                                 Listrik    Mitigation
     (“SEL”)                         KBLI 35120 [2025]/
     PT Nagata                                              Energi,    EO1 Climate    DNSH:         Aspek Sosial:
                                     KBLI 35101 [2017]/
     Dinamika          PLTM                               Pembangkit   Change         memenuhi      Memenuhi
5                                    KBLI 35111 [2020]/                                                                  Hijau      14,19%
     Hidro Madong      Madong                               Listrik    Mitigation
                                     KBLI 35120 [2025]/
     (“NDHM”)


Berdasarkan penilaian “TKBI-aligned”, Konglomerasi dari Perusahaan Induk PT Kencana Energi Lestari Tbk (KEEN) memiliki porsi klasifikasi “Hijau”
sebesar 99,89%.




                                                                            9

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6. Opini
Laporan penilaian dan pernyataan opini terhadap Dokumen Surat Pendaftaran dan Permohonan
Penetapan Saham Berbasis Hijau PT Kencana Energi Lestari Tbk (KEEN) pada periode 2025,
merupakan tanggungjawab sepenuhnya dari Penyedia Reviu Eksternal, PT SUCOFINDO.
Sedangkan entitas pemohon PT Kencana Energi Lestari Tbk, bertanggungjawab atas penyajian
klaim pernyataan dan informasi dalam Dokumen Surat Pendaftaran dan Permohonan Penetapan
Saham Berbasis Hijau.

Proses penilaian dilakukan oleh PT SUCOFINDO melalui dua skema, yaitu (1) Penilaian
Taksonomi yang mengacu pada TKBI Versi 3, dengan menggunakan penilaian Tingkat Portofolio
metode Technical Screening Criteria (TSC); dan (2) Penilaian Keuangan yang mengacu pada WFE
Green Equity Principles. Data yang diperiksa bersifat historis, mencakup Dokumen Surat
Pendaftaran dan Permohonan Penetapan Saham Berbasis Hijau tahun 2025, Laporan Keuangan
dan Keberlanjutan tahun 2025 serta dokumen pendukung lainnya berupa dokumen teknis dan
perizinan.

Berdasarkan tinjauan penilaian yang dilakukan PT SUCOFINDO, tidak ada hal yang menjadi
perhatian kami yang menyebabkan kami yakin bahwa pernyataan saham berbasis hijau tersebut
mengandung salah saji yang material. Kami menyimpulkan bahwa klaim PT Kencana Energi
Lestari Tbk mengenai klasifikasi Saham Berbasis Hijau untuk periode pelaporan tahun 2025 telah
memenuhi kriteria yang dipersyaratkan dalam Penetapan Saham Berbasis Hijau, dalam semua
hal yang material.

Seluruh proses penilaian telah dilaksanakan secara independen dan bebas dari konflik
kepentingan, termasuk kepentingan pribadi, finansial, maupun hubungan lain yang dapat
mempengaruhi objektivitas penilaian. Pernyataan Opini ini adalah benar, akurat dan lengkap.



 Jakarta, 18 Agustus 2026




 Putri Rafika Dewi                                          Dikman Purnama
 Lead Reviu Eksternal                                       Independent Reviewer




                                             10

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7. Lampiran
Lampiran 1: Daftar Dokumen Pendukung Penilaian
 1. Laporan Keuangan PT Kencana Energi Lestari Tahun 2025
 2. Laporan Keberlanjutan PT Kencana Energi Lestari Tahun 2025
 3. Penetapan Kebijakan Penghormatan dan Perlindungan Hak Asasi Manusia Berdasarkan
    Standar Internasional (Surat Keputusan Direksi No.57/SK-DIR/LEG-KEL/XII/2024)
 4. Dokumen Teknis dan Perizinan per Perusahaan Anak dan Aktivitas
        Perusahaan       Aktivitas
                                                        Dokumen Teknis dan Perizinan
           Anak           Usaha
      PT Energi Sakti   PLTA         1. ESS - IUPTL PLTA Pakkat
      Sentosa           Pakkat       2. ESS - Izin Lingkungan PLTA Pakkat
      (“ESS”)                        3. ESS - DELH PLTA Pakkat
                                     4. ESS - Laporan Izin Lingkungan Semester 1 2025
                                     5. ESS - Laporan Izin Lingkungan Semester 2 2025
                                     6. ESS - 026 – Surat Permohonan (Arahan DLH)
      PT Bangun Tirta   PLTA Air     1. BTL - IUPTL PLTA Air Putih
      Lestari (“BTL”)   Putih        2. BTL - Izin Lingkungan PLTA Air Putih
                                     3. BTL - UKL UPL PLTA Air Putih
                                     4. BTL - SIPPA PLTA Air Putih
                                     5. BTL - Laporan Izin Lingkungan Semester 1 2025
                                     6. BTL - Laporan Izin Lingkungan Semester 2 2025
                                     7. BTL - Berita Acara Pengawasan Lingkungan Hidup
                                     8. BTL - E-Jounal Universitas Bengkulu
      PT Nagata         PLTM         1. NDHM - Izin Usaha Pembangkit Tenaga Listrik (IUPTL) PLTM Madong
      Dinamika Hidro    Madong       2. NDHM - Dokumen Evaluasi Lingkungan Hidup (DELH) PLTM Madong
      Madong                         3. NDHM - Izin Lingkungan PLTM Madong
      (“NDHM”)                       4. NDHM - Laporan Izin Lingkungan RKL RPL SMT I 2025 PLTM Madong
                                     5. NDHM - Laporan Izin Lingkungan RKL RPL SMT II 2025 PLTM Madong
                                     6. NDHM – Izin Pengelolaan Sumber Daya Alam (PSDA)
      PT Sumatera       PLTM Ordi    1. SEL - Izin Usaha Pembangkit Tenaga Listrik (IUPTL) PLTM Ordi Hulu
      Energi Lestari    Hulu         2. SEL - Izin Lingkungan PLTM Ordi Hulu
      (“SEL”)                        2. SEL - Laporan Izin Lingkungan Semester I 2025
                                     3. SEL - Laporan Izin Lingkungan Semester II 2025
                                     4. SEL - Izin Pengelolaan Sumber Daya Alam (PSDA)
      PT Tiara Tirta    PLTM Salu    1. TTE - Izin Usaha Pembangkit Tenaga Listrik (IUPTL) PLTM Salu Noling
      Energi (“TTE”)    Noling       2. TTE - UKL UPL PLTM Salu Noling
                                     3. TTE - Izin Lingkungan PLTM Salu Noling
                                     4. TTE - Laporan Pelaksanaan RKL-RPL Tahap Konstruksi Semester I
                                     2025
                                     5. TTE - Laporan Pelaksanaan RKL-RPL Tahap Konstruksi Semester II
                                     2025
                                     6. TTE – Izin Pengelolaan Sumber Daya Alam (PSDA)




                                                  11

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     Lampiran 2: Penilaian TKBI-Alignment per Aktivitas Usaha
      1. PLTA Pakkat
  Aspek Penilaian                     Kriteria Hijau                                                       Penjelasan                                                 Hasil
                                                                                                                                                                   Penilaian
Klasifikasi Aktivitas:   -                                        PT Energy Sakti Sentosa (ESS) merupakan perusahaan operator untuk PLTA Pakkat yang              TBKI-
                                                                  memiliki kapasitas 18 MW (3x6 MW) dan telah beroperasi sejak tahun 2020.                        Eligible
KBLI 35101 (2017) /                                               Aktivitas PLTA Pakkat terkategori kedalam KBLI 35101 (2017) / KBLI 35111 (2020) yaitu
KBLI 35111 (2020) /                                               Pembangkitan Tenaga Listrik atau KBLI 35120 (2025), yaitu Pembangkitan Tenaga Listrik dari
KBLI 35120 (2025)                                                 Sumber Energi Terbarukan. KBLI ini mencakup kelompok yang mencakup usaha memproduksi
                                                                  tenaga Listrik melalui pembangkitan tenaga Listrik yang menggunakan berbagai jenis sumber
                                                                  energi, termasuk sumber energi aliran dan terjunan air.
Environmental            Kategori EO1 sumber energi tenaga        1. PT ESS memiliki Izin Usaha Penyediaan Tenaga Listrik (IUPTL) Nomor 1/IUPTL-                  Hijau
Objective (EO):          air:                                         PB/PMDN/2017. Izin ini merupakan perubahan atas izin sebelumnya untuk mengakomodasi
                         1) Izin      Berusaha   di      Bidang       peningkatan kapasitas pembangkit dari 2x5 MW menjadi 3x6 MW. Izin Usaha tersebut
EO1: Climate                  Ketenagalistrikan        (IUPTLU        menyebutkan bahwa PT ESS mengoperasikan PLTA Pakkat dengan memanfaatkan sumber
Change Mitigation             dan/atau IUPTLS)                        energi air dari Sungai Aek Sirahar (Daerah Aliran Sungai Sirahar).
                         2) Menggunakan run-off-river; atau       2. PLTA Pakkat menggunakan konsep Run-of-River (RoR) berdasarkan dokumen-dokumen
                              menggunakan waduk dengan                berikut:
                              power density >4W/m2; atau              a. Dokumen Evaluasi Lingkungan Hidup (DELH) PLTA Pakkat tahun 2017 yang
                              Lifecycle emissions dari seluruh             menjelaskan bahwa operasional pembangkit dilakukan dengan memanfaatkan potensi
                              fasilitas pembangkit listrik <100            sumber daya air Sungai Aek Sirahar melalui pengalihan debit air melalui waterway
                              gCO2e/kWh                                    (tunnel) menuju powerhouse, dan air tersebut kemudian dikembalikan lagi ke Sungai
                                                                           Aek Sirahar melalui tail race. Konstruksi bendung PLTA Pakkat bertipe fixed gravity
                         (TKBI Versi 3, hal. 102)                          concrete yang berfungsi untuk menaikkan muka air agar dapat dialihkan ke intake.
                                                                      b. b. Izin Lingkungan PT Energy Sakti Sentosa Nomor: 542/ILingk/DPMP2TSP/2017, yang
                                                                           menetapkan bahwa perusahaan diberikan izin untuk melakukan usaha PLTA sebesar 3x
                                                                           6 MW dengan ruang lingkup: rona lingkungan, dampak-dampak yang terjadi, upaya
                                                                           pengelolaan dan pemantauan lingkungan serta program kerja sesuai dokumen
                                                                           lingkungan. Izin ini berlaku dengan jangka waktu yang sama dengan izin usaha.
                                                                      c. Laporan Izin Lingkungan Semester I & II Tahun 2025, yang secara eksplisit menyatakan:
                                                                           "PLTA Pakkat 3x6 MW beroperasi menggunakan konsep run of river, yaitu
                                                                           memanfaatkan aliran sungai Aek Sirahar" dengan daerah aliran sungai seluas ±251 km².
Essential Criteria       Memiliki PROPER minimal BIRU atau        1. PLTA Pakkat memiliki persetujuan lingkungan berupa Izin Lingkungan melalui Keputusan         Hijau
(EC):                    memenuhi kriteria berikut:                   Kepala Dinas Penanaman Modal dan Pelayanan Perizinan Terpadu Satu Pintu Kabupaten
                                                                      Humbang Hasundutan Nomor: 542/ILingk/DPMP2TSP/2017. Operasional PLTA juga


                                                                                        12

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DNSH (Do Not         1) Persetujuan Lingkungan dapat               didasarkan pada Dokumen Evaluasi Lingkungan Hidup (DELH) tahun 2017 yang disusun
Significant Harm)       berupa                dokumen              sebagai dasar pelaksanaan pengelolaan dan pemantauan lingkungan hidup.
                        AMDAL/UKL/UPL/SPPL.                   2. PLTA Pakkat melakukan pengelolaan risiko terkait potensi penurunan kualitas dan kuantitas
                     2) Aktivitas perlu mengelola risiko           air berdasarkan dokumen berikut:
                        yang berpotensi menurunkan                a. Dokumen DELH PLTA Pakkat Tahun 2017, yang menetapkan rencana pengelolaan dan
                        kualitas air dan mengganggu                    pemantauan risiko penurunan kualitas air melalui pengambilan sampel air sungai dan
                        kuantitas air dengan melakukan                 analisis laboratorium secara berkala. Fokus utama adalah memastikan parameter fisik
                        konsumsi air pada tingkat yang                 dan kimia air tetap memenuhi baku mutu yang ditetapkan pemerintah.
                        wajar serta memiliki rencana              b. Laporan Izin Lingkungan Semester I & II Tahun 2025:
                        penggunaan air dan pengelolaan                 PT ESS menyusun dan menyampaikan laporan pelaksanaan rencana pengelolaan
                        konservasi     sesuai   dengan                 lingkungan (RKL) dan rencana pemantauan lingkungan (RPL) setiap semester kepada
                        ketentuan yang berlaku.                        instansi terkait. Pemantauan kualitas air dilakukan secara berkala di lokasi strategis,
                                                                       yaitu di Area Bendung (Inlet) dan Sekitar Power House (Outlet). Parameter yang diukur
                     (TKBI Versi 3, hal.743)                           meliputi parameter fisika (TSS, TDS, Suhu) dan parameter kimia (pH, COD, BOD, DO).
                                                                       Hasil analisa kualitas air Semester I Tahun 2025 menunjukkan bahwa seluruh parameter
                                                                       yang dipantau berada di bawah nilai ambang batas (Baku Mutu) sesuai PP No. 22 Tahun
                                                                       2021, sehingga kualitas air tergolong baik. Pada Semester II Tahun 2025 tidak dapat
                                                                       dilakukan pengujian geo-fisik-kimia (termasuk air permukaan) karena terjadi bencana
                                                                       longsor pada Desember 2025 yang menimbun aliran sungai dan menyebabkan
                                                                       operasional pembangkit berhenti sementara.
                                                                  c. PT ESS telah menyampaikan Surat Permohonan (ESS – 026 – Surat Permohonan (Arahan
                                                                       DLH)) kepada Kementerian Lingkungan Hidup, perihal permohonan arahan dokumen
                                                                       lingkungan hidup. Hal ini bertujuan supaya terdapat dasar pelaksanaan pengelolaan
                                                                       lingkungan terhadap kegiatan rehabilitasi yang sedang dilakukan.
Essential Criteria   Kebijakan / pedoman / praktik terkait:   PT Kencana Energi Lestari Tbk sebagai perusahaan induk telah menetapkan Kebijakan                  Hijau
(EC):                1) Perlindungan                  dan     Penghormatan dan Perlindungan Hak Asasi Manusia melalui Surat Keputusan Direksi No.
                          Penghormatan HAM                    57/SK-DIR/LEG-KEL/XII/2024. PT Kencana Energi Lestari Tbk dan seluruh anak Perusahaan
Aspek Sosial         2) Ketenagakerjaan       mencakup        berkomitmen untuk memastikan bahwa seluruh kegiatan operasional berdasarkan pada
                          pekerjaan layak, pencegahan         prinsip-prinsip hak asasi manusia yang diakui secara universal, termasuk namun tidak terbatas
                          kerja   paksa,    perlindungan      pada:
                          terhadap pekerja perempuan          1. Non-diskriminasi
                          dan anak, serta pengembangan        2. Kerja Paksa dan Pekerjaan Anak
                          sumber daya manusia                 3. Kesehatan dan Keselamatan Kerja (K3)
                     3) Dampak terhadap masyarakat            4. Kebebasan Berserikat dan Berunding Bersama
                          yang tinggal dekat dengan           5. Upah yang Layak
                          investasi,          mencakup


                                                                                    13

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                              penciptaan lapangan kerja,
                              upaya    dalam  mengurangi
                              kemiskinan dan pertumbuhan
                              ekonomi

                         (TKBI Versi 3, hal. 863)
     Berdasarkan penjelasan diatas, aktivitas usaha PLTA Pakkat memenuhi persyaratan TKBI (Taxonomy-Aligned) klasifikasi HIJAU.

      2. PLTA Air Putih
  Aspek Penilaian                     Kriteria Hijau                                                       Penjelasan                                                   Hasil
                                                                                                                                                                     Penilaian
Klasifikasi Aktivitas:   -                                        PT Bangun Tirta Lestari (BTL) merupakan perusahaan operator untuk PLTA Air Putih yang             TBKI-
                                                                  memiliki kapasitas 21 MW dan telah beroperasi sejak 22 Januari 2020.                              Eligible
KBLI 35101 (2017) /                                               Aktivitas PLTA Air Putih terkategori kedalam KBLI 35101 (2017) / KBLI 35111 (2020) yaitu
KBLI 35111 (2020) /                                               Pembangkitan Tenaga Listrik atau KBLI 35120 (2025), yaitu Pembangkitan Tenaga Listrik dari
KBLI 35120 (2025)                                                 Sumber Energi Terbarukan. KBLI ini mencakup kelompok yang mencakup usaha memproduksi
                                                                  tenaga Listrik melalui pembangkitan tenaga Listrik yang menggunakan berbagai jenis sumber
                                                                  energi, termasuk sumber energi aliran dan terjunan air.
Environmental            Kategori EO1 sumber energi tenaga        1) PLTA Air Putih memiliki Izin Usaha Penyedia Tenaga Listrik (IUPTL) Nomor 26/1/IUPTL-           Hijau
Objective (EO):          air:                                          T/PMDN/2017 yang ditetapkan tanggal 23 Oktober 2017 dan berlaku untuk jangka waktu 30
                         1) Izin      Berusaha   di      Bidang        (tiga puluh) tahun dan dapat diperpanjang.
EO1: Climate                  Ketenagalistrikan        (IUPTLU    2) PLTA Air Putih menggunakan Run-off-River (RoR) berdasarkan dokumen berikut:
Change Mitigation             dan/atau IUPTLS)                          a. Dokumen Upaya Pengelolaan Lingkungan Hidup (UKL) dan Upayan Pemantauan
                         2) Menggunakan run-off-river; atau                  Lingkungan Hidup (UPL) PLTA Air Putih tahun 2014 yang menyatakan bahwa
                              menggunakan waduk dengan                       "PLTA Air Putih direncanakan menggunakan konsep run-off river (ROR) dimana tidak
                              power density >4W/m2; atau                     terdapat tampungan pada bagian hulu PLTA Aliran Sungai Ketahun yang merupakan
                              Lifecycle emissions dari seluruh               sumber energi PLTA dialihkan dengan menggunakan bendung yang dibangun tegak
                              fasilitas pembangkit listrik <100              lurus / memotong terhadap aliran sungai" (hal. 2-6)
                              gCO2e/kWh                                 b. Perpanjangan Izin Pengambilan dan Pemanfaatan Air (SIPPA) Permukaan kepada PT
                                                                             BTL Nomor: 503/13.1184/05/DPMPTSP-P.3/2022, yang menyatakan:
                         (TKBI Versi 3, hal. 102)                            PT Bangun Lestari Tirta Lestari mendapatkan izin menggunakan sumber daya air dari
                                                                             Sungai Ketahun. Izin ini berlaku selama 5 tahun, mulai 24 Juni 2022 sampai dengan 24
                                                                             Juli 2027 dan dapat diperpanjang sesuai dengan ketentuan yang berlaku.
                                                                        c. Laporan Izin Lingkungan Semester I & II Tahun 2025, tertulis "Secara umum lay-out
                                                                             sistem pembangkit jenis run off river memanfaatkan aliran air Sungai Ketahun"


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Essential Criteria   Memiliki PROPER minimal BIRU atau 1) PLTA Air Putih memiliki persetujuan lingkungan berupa Izin Lingkungan (Surat Keputusan              Hijau
(EC):                memenuhi kriteria berikut:                 Bupati Lebong Nomor 17 Tahun 2015) dan UKL-UPL tahun 2014.
                      1) Persetujuan Lingkungan dapat 2) PLTA Air Putih melakukan pengelolaan risiko terkait potensi penurunan kualitas dan
DNSH (Do Not              berupa                  dokumen       kuantitas air berdasarkan dokumen berikut:
Significant Harm)         AMDAL/UKL/UPL/SPPL.                   a. UKL UPL PLTA Air Putih Tahun 2014, yang menyatakan rencana pengelolaan risiko
                      2) Aktivitas perlu mengelola risiko            penurunan kualitas dan kuantitas air berupa pengambilan contoh kualitas air dan
                          yang berpotensi menurunkan                 analisa laboratorium serta pengamatan lapangan pada tahap konstruksi dan operasi.
                          kualitas air dan mengganggu           b. Laporan Izin Lingkungan Semester I & II Tahun 2025:
                          kuantitas air dengan melakukan             • PT BTL telah menyusun dan menyampaikan kegiatan pengelolaan dan pemantauan
                          konsumsi air pada tingkat yang                 lingkungan setiap semester.
                          wajar serta memiliki rencana               • PT BTL telah melakukan pemantauan kualitas air setiap tiga bulan. Analisa kualitas
                          penggunaan air dan pengelolaan                 air dilakukan di 2 lokasi pemantaun yaitu Inlet dan Outlet, dengan parameter yang
                          konservasi      sesuai    dengan               diukur adalah parameter fisika (TSS, suhu), serta kimia (COD, BOD)
                          ketentuan yang berlaku.                    • Hasil analisa kualitas air seluruh periode (Triwulan I, II, III, IV) Tahun 2025
                                                                         menunjukkan bahwa beberapa parameter yang dipantau tidak melebihi Baku Mutu
                      (TKBI Versi 3, hal.743)                            Lingkungan pada Peraturan Daerah Propinsi No.6 Tahun 2005 tentang Penetapan
                                                                         Baku Mutu Sungai Lintas Kabupaten/Kota dalam Provinsi Bengkulu (Kelas II). Tetapi
                                                                         hasil uji BOD pada Inlet dan Outlet pada Triwulan IV 2025 melebihi nilai baku mutu
                                                                         yang dipersyaratkan.
                                                                     • Berdasarkan dokumen "Berita Acara Pengawasan Lingkungan Hidup” dan "E-Jounal
                                                                         Universitas Bengkulu”, hasil pengujian air permukaan yang melebihi baku mutu
                                                                         dikarenakan aktivitas penambangan rakyat disekitar area Sungai dan Sungai
                                                                         Ketahun memiliki status tercemar berat. Hal ini mengindikasikan bahwa
                                                                         pencemaran air tidak disebabkan oleh aktivitas PLTA Air Putih.
                                                                     • PT BTL telah berkomitmen melakukan usaha mitigasi berupa memperkuat
                                                                         pemantauan kualitas air berkala serta memasang spanduk himbauan kepada
                                                                         masyarakat untuk tidak membuang limbah ke Sungai.
Essential Criteria   Kebijakan / pedoman / praktik terkait: Perusahaan Induk, PT Kencana Energi Lestari Tbk, memiliki dokumen pendukung berupa Surat          Hijau
(EC):                1) Perlindungan dan Penghormatan Keputusan Direksi No.57/SK-DIR/LEG-KEL/XII/2024 tentang Penetapan Kebijakan
                         HAM                                Penghormatan dan Perlindungan Hak Asasi Manusia Berdasarkan Standar Internasional.
Aspek Sosial          2) Ketenagakerjaan         mencakup Keputusan tersebut menyatakan bahwa:
                          pekerjaan layak, pencegahan PT Kencana Energi Lestari Tbk dan seluruh anak Perusahaan berkomitmen untuk memastikan
                          kerja     paksa,    perlindungan bahwa seluruh kegiatan operasional berdasarkan pada prinsip-prinsip hak asasi manusia yang
                          terhadap pekerja perempuan diakui secara universal, termasuk namun tidak terbatas pada:
                          dan anak, serta pengembangan 1. Non-diskriminasi
                          sumber daya manusia               2. Kerja Paksa dan Pekerjaan Anak

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                         3) Dampak terhadap masyarakat            3. Kesehatan dan Keselamatan Kerja (K3)
                            yang tinggal dekat dengan             4. Kebebasan Berserikat dan Berunding Bersama
                            investasi,        mencakup            5. Upah yang Layak
                            penciptaan lapangan kerja,
                            upaya      dalam mengurangi
                            kemiskinan dan pertumbuhan
                            ekonomi.

                         (TKBI Versi 3, hal. 863)
     Berdasarkan penjelasan diatas, aktivitas usaha PLTA Air Putih memenuhi persyaratan TKBI (Taxonomy-Aligned) klasifikasi HIJAU.

      3. PLTM Madong
  Aspek Penilaian                     Kriteria Hijau                                                       Penjelasan                                                 Hasil
                                                                                                                                                                   Penilaian
Klasifikasi Aktivitas:   -                                        PT Nagata Dinamika Hidro Madong (PT NDHM) merupakan perusahaan operator untuk PLTM              TBKI-
                                                                  Madong yang memiliki kapasitas 2 × 5 MW (10 MW).                                                Eligible
KBLI 35101 (2017) /                                               Berdasarkan klasifikasi Klasifikasi Baku Lapangan Usaha Indonesia (KBLI), kegiatan usaha PLTM
KBLI 35111 (2020) /                                               Madong termasuk dalam KBLI 35101 Tahun 2017 dan KBLI 35111 Tahun 2020 yang mencakup
KBLI 35120 (2025)                                                 kegiatan Pembangkitan Tenaga Listrik, serta pada KBLI 35120 Tahun 2025 yang diklasifikasikan
                                                                  sebagai Pembangkitan Tenaga Listrik dari Sumber Energi Terbarukan.
Environmental            Kategori EO1 sumber energi tenaga        1) Berdasarkan dokumen "NDHM - UPTL PLTM Madong. Pdf", diketahui bahwa PT Nagata                Hijau
Objective (EO):          air:                                        Dinamika Hidro Madong selaku operator PLTM Ma'dong telah memperoleh Izin Usaha
                          1) Izin Berusaha di Bidang                 Penyediaan Tenaga Listrik (IUPTL) dengan Nomor Keputusan 15/1/IUPTL - T/PMA/2017 yang
EO1: Climate                   Ketenagalistrikan       (IUPTLU       diterbitkan pada 31 Oktober 2017.
Change Mitigation              dan/atau IUPTLS)                   2) Berdasarkan dokumen "NDHM - Dokumen DELH.pdf" tidak secara eksplisit mencantumkan
                         2) Menggunakan run-off-river; atau          penggunaan skema Run-of-River (ROR). Namun, deskripsi operasional dan teknis proyek
                              menggunakan waduk dengan               PLTM Madong secara explisipt terdiskripsi dalam dokumen "NDHM - Laporan Izin
                              power density >4W/m2; atau             Lingkungan RKL RPL SMT I 2025 PLTM Madong" mencakup; PLTM Madong merupakan
                              Lifecycle emissions dari seluruh       bangunan dengan tipe Run-of-River (ROR) dengan mengoptimalkan pemanfaatan Sungai
                              fasilitas pembangkit listrik <100      Maiting,    penggunaan        Bendung     sebagai  kontrol    ketinggian     air,  Saluran
                              gCO2e/kWh                              Penghantar/Terowongan, electromechanical, serta ketentuan ecological flow.

                         (TKBI Versi 3, hal. 102)
Essential Criteria       Memiliki PROPER minimal BIRU atau        1. PLTM Madong telah memperoleh izin lingkungan yaitu Surat Izin Lingkungan dengan nomor        Hijau
(EC):                    memenuhi kriteria berikut:                  surat: 297IL/DPMPTDP/XI/2021 Tentang Izin Lingkungan Rencana Kegiatan Pembangunan
                                                                     Pembangkit Listrik Tenaga Mini Hidro Madong di Lembang Madong dan Lembang Paku

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DNSH (Do Not          1) Persetujuan Lingkungan dapat          Kecamatan Dende Piongan Napo Kabupaten Toraja Utara Provinsi Sulawesi Selatan
Significant Harm)        berupa                 dokumen        sebagaimana terlampir dalam "NDHM - Dokumen DELH.pdf".
                         AMDAL/UKL/UPL/SPPL.                2. Potensi dampak lingkungan yang timbul dari kegiatan PLTM Madong, baik pada tahap
                                                               konstruksi maupun tahap operasional, telah diidentifikasi dan dikelola sesuai dengan aspek
                      2) Aktivitas perlu mengelola risiko
                                                               geo-biologis pada kriteria EO3, khususnya terkait kualitas air dan konservasi lingkungan.
                         yang berpotensi menurunkan            Berdasarkan hasil penelaahan terhadap dokumen "NDHM - Dokumen DELH.pdf", diketahui
                         kualitas air dan mengganggu           bahwa PT NDMH telah melakukan upaya identifikasi, pengelolaan, dan pemantauan
                         kuantitas air dengan melakukan        dampak lingkungan sebagai berikut:
                         konsumsi air pada tingkat yang        a. Berdasarkan dokumen UKL-UPL Tahun 2013 yang tertuang dalam "NDHM - Dokumen
                         wajar serta memiliki rencana              DELH," PT Nagata Dinamika Hidro Madong telah melakukan analisis kondisi awal
                                                                   (baseline) kualitas air sebelum pelaksanaan konstruksi PLTM Madong sebagai acuan
                         penggunaan         air      dan
                                                                   dalam pemantauan dampak lingkungan.
                         pengelolaan konservasi sesuai         b. Berdasarkan Dokumen DELH, Perseroan melaksanakan pemantauan kualitas air
                         dengan ketentuan yang berlaku.            secara berkala setiap semester (enam bulan) yang mencakup parameter fisika, kimia,
                                                                   dan biologis, sesuai dengan ketentuan pemantauan lingkungan yang tercantum dalam
                     (TKBI Versi 3, hal.743)                       dokumen UKL-UPL dan baku mutu yang berlaku.
                                                               c. Kualitas perairan di sekitar PLTM Madong sesuai dengan Laporan Izin Lingkungan
                                                                   Semester I dan II tahun 2025 menunjukkan hasil bahwa, kualitas perairan sekitar PLTM
                                                                   Madong memenuhi baku mutu standar, baik fisika, kimia, dan mikrobiologi, namun
                                                                   terdapat peningkatan pada parameter BOD dibandingkan dengan hasil pemantauan
                                                                   Tahun 2024. Namun demikian, seluruh parameter yang dipantau masih berada di bawah
                                                                   baku mutu yang dipersyaratkan sehingga masih memenuhi ketentuan yang berlaku.
                                                               d. Berdasarkan hasil pemantauan kualitas air dari aspek biota perairan pada Semester I
                                                                   dan II Tahun 2025, tidak ditemukan perubahan yang signifikan terhadap kondisi biota
                                                                   perairan. Komposisi organisme perairan, termasuk fitoplankton, tetap terjaga dan
                                                                   masih sesuai dengan kondisi baseline yang ditetapkan dalam dokumen UKL-UPL Tahun
                                                                   2013.
                                                            Parameter secara keseluruhan sudah memenuhi baku mutu meskipun dalam pengecekannya,
                                                            parameter yang dicek belum konsisten untuk hulu dan hilir. Disebabkan pemantauan tahun
                                                            2025 belum dilakukan secara konsisten, Perusahaan akan melakukan pengambilan dan
                                                            pengecekan sampel secara konsisten untuk 2 titik, sesuai dengan ketentuan dalam UKL UPL
                                                            2013.
Essential Criteria   Kriteria  Aspek    Sosial     untuk    Perusahaan Induk, PT Kencana Energi Lestari Tbk, memiliki dokumen pendukung berupa Surat        Hijau
(EC):                Korporasi/Non-UMKM:                    Keputusan Direksi No.57/SK-DIR/LEG-KEL/XII/2024 tentang Penetapan Kebijakan
                     1) Perlindungan                 dan    Penghormatan dan Perlindungan Hak Asasi Manusia Berdasarkan Standar Internasional.
Aspek Sosial              Penghormatan HAM                  Keputusan tersebut menyatakan bahwa:


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                           2)   Ketenagakerjaan     mencakup     PT Kencana Energi Lestari Tbk dan seluruh anak Perusahaan berkomitmen untuk memastikan
                                pekerjaan layak, pencegahan      bahwa seluruh kegiatan operasional berdasarkan pada prinsip-prinsip hak asasi manusia yang
                                kerja   paksa,    perlindungan   diakui secara universal, termasuk namun tidak terbatas pada:
                                terhadap pekerja perempuan       1. Non-diskriminasi
                                dan anak, serta pengembangan     2. Kerja Paksa dan Pekerjaan Anak
                                sumber daya manusia              3. Kesehatan dan Keselamatan Kerja (K3)
                           3)   Dampak terhadap masyarakat       4. Kebebasan Berserikat dan Berunding Bersama
                                yang tinggal dekat dengan        5. Upah yang Layak
                                investasi,          mencakup
                                penciptaan lapangan kerja,
                                upaya      dalam   mengurangi
                                kemiskinan dan pertumbuhan
                                ekonomi.

                           (TKBI Versi 3, hal. 863)
Berdasarkan penjelasan diatas, aktivitas usaha PLTM Madong memenuhi persyaratan TKBI (Taxonomy-Aligned) klasifikasi HIJAU.

        4. PLTM Ordi Hulu
    Aspek Penilaian                     Kriteria Hijau                                                    Penjelasan                                                 Hasil
                                                                                                                                                                  Penilaian
  Klasifikasi Aktivitas:   -                                     PT Sumatera Energi Lestari (SEL) telah mendapatkan Izin Usaha Penyediaan Tenaga Listrik         TBKI-
                                                                 (IUPTL) melalui sistem OSS dengan nomor izin 34/IUPTL/OSS/2019. Berdasarkan Nomor Induk         Eligible
  KBLI 35101 (2017) /                                            Berusaha (NIB) 9120305103607, perusahaan ini merupakan pengelola dan operator dari
  KBLI 35111 (2020) /                                            Pembangkit Listrik Tenaga Minihidro (PLTM) Ordi Hulu dengan kapasitas terpasang 2x5 MW (10
  KBLI 35120 (2025)                                              MW). Proyek ini dibangun untuk mendukung penyediaan kebutuhan tenaga listrik di Kabupaten
                                                                 Pakpak Bharat, Provinsi Sumatera Utara, tepatnya berlokasi di Desa Pardomuan, Kecamatan
                                                                 Sitellu Tali Urang Julu.
                                                                 Aktivitas PLTM Ordi Hulu terkategori kedalam KBLI 35101 (2017) / yaitu Pembangkitan Tenaga
                                                                 Listrik atau KBLI 35120 (2025), yaitu Pembangkitan Tenaga Listrik dari Sumber Energi
                                                                 Terbarukan. KBLI ini mencakup kelompok yang mencakup usaha memproduksi tenaga Listrik
                                                                 melalui pembangkitan tenaga Listrik yang menggunakan berbagai jenis sumber energi,
                                                                 termasuk sumber energi aliran dan terjunan air.
  Environmental            Kategori EO1 sumber energi tenaga     1. PLTM Ordi Hulu memiliki Izin Usaha Penyediaan Tenaga Listrik (IUPTL) Nomor                   Hijau
  Objective (EO):          air:                                       9120305103607 yang ditetapkan tanggal 1 Oktober 2019.
                                                                 2. Berdasarkan hasil tinjauan terhadap Dokumen Izin Pengusahaan Sumber Daya Air,
                                                                      meskipun istilah Run-of-River (ROR) tidak disebutkan secara eksplisit, terdapat indikasi

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EO1: Climate         1) Izin Berusaha di Bidang                   yang kuat bahwa PLTM Ordi Hulu menerapkan skema Run-of-River, yang didukung oleh
Change Mitigation       Ketenagalistrikan        (IUPTLU          bukti-bukti sebagai berikut:
                        dan/atau IUPTLS)                          • Jenis konstruksi yang digunakan meliputi bendung (weir) dan intake. Konfigurasi ini
                     2) Menggunakan run-off-river; atau               sesuai dengan prinsip kerja pembangkit Run-of-River, yaitu mengalihkan sebagian debit
                        menggunakan waduk dengan                      sungai ke saluran pembawa (waterway) melalui peninggian muka air menggunakan
                        power density >4W/m2; atau
                                                                      bendung, tanpa membendung dan menampung air dalam jumlah besar hingga
                        Lifecycle emissions dari seluruh
                        fasilitas pembangkit listrik <100             membentuk waduk atau danau buatan.
                        gCO2e/kWh                                 • Pemanfaatan air untuk operasi pembangkit listrik bersifat sirkulasi, di mana air yang
                                                                      telah digunakan wajib dikembalikan ke sungai sebagai sumber air tanpa mengurangi
                     (TKBI Versi 3, hal. 102)                         debit alami maupun menurunkan mutu air.
Essential Criteria   Memiliki PROPER minimal BIRU atau        Berdasarkan penelaahan lebih mendalam terhadap Laporan Pelaksanaan Pengelolaan dan              Hijau
(EC):                memenuhi kriteria berikut:               Pemantauan Lingkungan Semester I dan II Tahun 2025, berikut adalah rincian penilaian
                     1) Persetujuan Lingkungan dapat          Environmental Objective 3 (EO3) terkait perlindungan ekosistem dan keanekaragaman hayati
DNSH (Do Not            berupa                  dokumen       untuk PLTM Ordi Hulu:
Significant Harm)       AMDAL/UKL/UPL/SPPL.                   1) Kepemilikan Persetujuan Lingkungan (EIA/ESIA)
                     2) Aktivitas perlu mengelola risiko      PLTM Ordi Hulu telah memiliki dokumen Izin Lingkungan dari Pemerintah Kabupaten Pakpak
                        yang berpotensi menurunkan            Bharat dengan Nomor 503/90/1215.210/VI/2022. Hal ini memenuhi syarat dasar TSC poin 1
                        kualitas air dan mengganggu           mengenai kepemilikan persetujuan lingkungan.
                        kuantitas air dengan melakukan
                        konsumsi air pada tingkat yang        2) Pengelolaan Risiko Kualitas dan Kuantitas Air
                        wajar serta memiliki rencana          Data Semester I 2025: Hasil uji menunjukkan parameter utama berada di bawah ambang batas
                        penggunaan air dan pengelolaan        (BML 50 mg/L untuk TSS; 6-9 untuk pH). Nilai TSS tercatat 26,10 mg/L (outlet) dan 22,40 mg/L
                        konservasi     sesuai     dengan      (inlet), sementara pH berada di kisaran 7,20 (outlet) dan 6,85 (inlet).
                        ketentuan yang berlaku.               Data Semester II 2025: Konsistensi kualitas air tetap terjaga dengan TSS sebesar 27,00 mg/L
                                                              (outlet) dan 30,00 mg/L (inlet) serta pH di kisaran 7,10 - 7,38.
                     (TKBI Versi 3, hal.743)                  Pengusahaan sumber daya air telah mengantongi izin dari Menteri PUPR (No. 710/KPTS/M/2024)
                                                              yang mewajibkan pengembalian debit air secara sirkulasi tanpa mengurangi jumlah debit alami
                                                              sungai
                                                              Berdasarkan data dari Laporan Pelaksanaan Pengelolaan dan Pemantauan Lingkungan
                                                              Semester I dan II tahun 2025, seluruh parameter lingkungan uji air menunjukkan kepatuhan
                                                              terhadap baku mutu yang berlaku di Indonesia, didukung dengan legalitas izin lingkungan dan
                                                              izin pemanfaatan sumber daya air yang lengkap.
Essential Criteria   Kebijakan / pedoman / praktik terkait:   Perusahaan Induk, PT Kencana Energi Lestari Tbk, memiliki dokumen pendukung berupa Surat        Hijau
(EC):                 1) Perlindungan                 dan     Keputusan Direksi No.57/SK-DIR/LEG-KEL/XII/2024 tentang Penetapan Kebijakan
                          Penghormatan HAM

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Aspek Sosial             2) Ketenagakerjaan     mencakup     Penghormatan dan Perlindungan Hak Asasi Manusia Berdasarkan Standar Internasional.
                            pekerjaan layak, pencegahan      Keputusan tersebut menyatakan bahwa:
                            kerja   paksa,    perlindungan   PT Kencana Energi Lestari Tbk dan seluruh anak Perusahaan berkomitmen untuk memastikan
                            terhadap pekerja perempuan       bahwa seluruh kegiatan operasional berdasarkan pada prinsip-prinsip hak asasi manusia yang
                            dan anak, serta pengembangan     diakui secara universal, termasuk namun tidak terbatas pada:
                            sumber daya manusia              1. Non-diskriminasi
                         3) Dampak terhadap masyarakat       2. Kerja Paksa dan Pekerjaan Anak
                            yang tinggal dekat dengan        3. Kesehatan dan Keselamatan Kerja (K3)
                            investasi,          mencakup     4. Kebebasan Berserikat dan Berunding Bersama
                            penciptaan lapangan kerja,       5. Upah yang Layak
                            upaya      dalam   mengurangi
                            kemiskinan dan pertumbuhan
                            ekonomi

                         (TKBI Versi 3, hal. 863)
     Berdasarkan penjelasan diatas, aktivitas usaha PLTM Ordi Hulu memenuhi persyaratan TKBI (Taxonomy-Aligned) klasifikasi HIJAU.

      5. PLTM Salu Noling
  Aspek Penilaian                     Kriteria Hijau                                                 Penjelasan                                                 Hasil
                                                                                                                                                             Penilaian
Klasifikasi Aktivitas:   -                                   PT Tiara Tirta Energi telah mengantongi Izin Usaha Penyediaan Tenaga Listrik (IUPTL) melalui   TBKI-
                                                             sistem OSS dengan nomor izin 12130004411450003, yang diperkuat dengan Surat Direktur           Eligible
KBLI 35101 (2017) /                                          Pembinaan Pengusahaan Ketenagalistrikan Nomor B-2932/TL.04/DLB.1/2024 terkait
KBLI 35111 (2020) /                                          Pemenuhan Komitmen IUPTLU. PT Tiara Tirta Energi merupakan pengelola dan operator dari
KBLI 35120 (2025)                                            Pembangkit Listrik Tenaga Minihidro (PLTM) Salu Noling dengan kapasitas terpasang 2x5,8 MW
                                                             (11,6 MW) dan kontrak daya sebesar 10 MW.
                                                             Aktivitas PLTM Salu Noling terkategori kedalam KBLI 35101 (2017) yaitu Pembangkitan Tenaga
                                                             Listrik atau KBLI 35120 (2025), yaitu Pembangkitan Tenaga Listrik dari Sumber Energi
                                                             Terbarukan. KBLI ini mencakup kelompok yang mencakup usaha memproduksi tenaga Listrik
                                                             melalui pembangkitan tenaga Listrik yang menggunakan berbagai jenis sumber energi,
                                                             termasuk sumber energi aliran dan terjunan air.
Environmental            Kategori EO1 sumber energi tenaga   1. Sesuai dengan dokumen "TTE - IUPTL PLTM Salu Noling.pdf", PT Tiara Tirta Energi sebagai     Hijau
Objective (EO):          air:                                perator PLTM Salu Noling telah mendapatkan Izin Usaha Penyediaan Tenaga Listrik (IUPTL),
                          1) Izin Berusaha di Bidang         dengan nomor izin: 12130004411450003 yang diterbitkan pada 3 September 2024. Sesuai
EO1: Climate                  Ketenagalistrikan    (IUPTLU   dengan kriteria E01, bukti pendukung IUPTL yang dilampirkan dinilai memadai.
Change Mitigation             dan/atau IUPTLS)

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                     2) Menggunakan run-off-river; atau     2. Berdasarkan dokumen "TTE - UKL-UPL PLTM Salu Noling.pdf" bagian Bab II Rencana Kegiatan
                        menggunakan waduk dengan            PLTM Salu Noling, PLTM Salu Noling direncanakan menggunakan skema Run Off River (ROR)
                        power density >4W/m2; atau          dalam pemanfaatan air sungai Salu Noling.
                        Lifecycle emissions dari seluruh
                        fasilitas pembangkit listrik <100   3. Berdasarkan Laporan Pelaksanaan RKL-RPL (Laporan Izin Lingkungan) Semester I dan
                        gCO2e/kWh                           Semester II Tahun 2025, status proyek PLTM Salu Noling saat ini masih berada dalam tahap
                                                            konstruksi dan belum beroperasi. Berdasarkan evaluasi hingga akhir Semester II tahun 2025,
                     (TKBI Versi 3, hal. 102)               proyek telah mencatatkan kemajuan fisik yang signifikan dibandingkan periode sebelumnya.
                                                            Berdasarkan Gambar 1.2 (Layout PLTM Salu Noling), desain pembangkit memanfaatkan aliran
                                                            Sungai Salu Noling melalui pengalihan air ke saluran penghantar dan mengembalikannya ke
                                                            sungai setelah digunakan untuk pembangkitan. Konfigurasi tersebut menunjukkan bahwa PLTM
                                                            Salu Noling dirancang dengan prinsip run-of-river.
Essential Criteria   Memiliki PROPER minimal BIRU atau      Berdasarkan penelaahan lebih mendalam terhadap Laporan Pelaksanaan RKL-RPL Semester I          Hijau
(EC):                memenuhi kriteria berikut:             dan II Tahun 2025, berikut adalah rincian penilaian Environmental Objective 3 (EO3) terkait
                      1) Persetujuan Lingkungan dapat       perlindungan ekosistem dan keanekaragaman hayati untuk PLTM Salu Noling:
DNSH (Do Not              berupa                 dokumen
Significant Harm)         AMDAL/UKL/UPL/SPPL.               1. Proyek telah memenuhi kriteria administratif DNSH dengan kepemilikan Izin Lingkungan
                      2) Aktivitas perlu mengelola risiko       No. 010/SIL/DPMPTS/X/2017 dan rekomendasi UKL-UPL.
                          yang berpotensi menurunkan 2. Pengelolaan Risiko Kualitas dan Kuantitas Air
                          kualitas air dan mengganggu Berdasarkan Laporan Izin Lingkungan Semester I dan II Tahun 2025:
                          kuantitas air dengan melakukan Parameter kualitas air menunjukkan tren perbaikan yang sangat signifikan dari Semester 1 ke
                          konsumsi air pada tingkat yang Semester 2:
                          wajar serta memiliki rencana         • Total Suspended Solids (TSS): Pada pemantauan Januari 2025 (Semester 1), kadar TSS
                          penggunaan air dan pengelolaan           tercatat sebesar 52 mg/L, yang mana melampaui baku mutu air Kelas II (50 mg/L) akibat
                          konservasi      sesuai   dengan          aktivitas penggalian. Namun, pada pemantauan Januari 2026 (Semester 2), nilai TSS
                          ketentuan yang berlaku.                  turun drastis menjadi 10 mg/L, sehingga kembali memenuhi standar.
                                                               • Derajat Keasaman (pH): Nilai pH pada Semester 1 sempat mencapai 9,9 (bersifat basa)
                     (TKBI Versi 3, hal.743)                       yang melebihi rentang baku mutu 6–9. Pada Semester 2, kondisi ini telah diperbaiki
                                                                   dengan nilai pH yang kembali normal di kisaran 7,14 hingga 7,34.
                                                               • Total Dissolved Solids (TDS): Parameter TDS secara konsisten berada di bawah ambang
                                                                   batas sepanjang tahun 2025, dengan nilai 130 mg/L pada Semester 1 dan turun menjadi
                                                                   30 mg/L pada Semester 2.
Essential Criteria   Kebijakan / pedoman / praktik terkait: Perusahaan Induk, PT Kencana Energi Lestari Tbk, memiliki dokumen pendukung berupa Surat       Hijau
(EC):                 1) Perlindungan                 dan Keputusan Direksi No.57/SK-DIR/LEG-KEL/XII/2024 tentang Penetapan Kebijakan
                          Penghormatan HAM                  Penghormatan dan Perlindungan Hak Asasi Manusia Berdasarkan Standar Internasional.
Aspek Sosial                                                Keputusan tersebut menyatakan bahwa:


                                                                                 21

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                2) Ketenagakerjaan     mencakup     PT Kencana Energi Lestari Tbk dan seluruh anak Perusahaan berkomitmen untuk memastikan
                   pekerjaan layak, pencegahan      bahwa seluruh kegiatan operasional berdasarkan pada prinsip-prinsip hak asasi manusia yang
                   kerja   paksa,    perlindungan   diakui secara universal, termasuk namun tidak terbatas pada:
                   terhadap pekerja perempuan       1. Non-diskriminasi
                   dan anak, serta pengembangan     2. Kerja Paksa dan Pekerjaan Anak
                   sumber daya manusia              3. Kesehatan dan Keselamatan Kerja (K3)
                3) Dampak terhadap masyarakat       4. Kebebasan Berserikat dan Berunding Bersama
                   yang tinggal dekat dengan        5. Upah yang Layak
                   investasi,          mencakup
                   penciptaan lapangan kerja,
                   upaya      dalam   mengurangi
                   kemiskinan dan pertumbuhan
                   ekonomi.

               (TKBI Versi 3, hal. 863)
Berdasarkan penjelasan diatas, aktivitas usaha PLTM Salu Noling memenuhi persyaratan TKBI (Taxonomy-Aligned) klasifikasi HIJAU.




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Names mentioned 55 people and organisations named in the text · linked when the evidence is strong

linked org Kencana Energi Lestari Tbk · Company Name p.3 ×206
linked org PT Bangun Tirta Lestari p.3 ×11
linked org Tirta Energi p.3 ×10
linked org Pemerintah Kabupaten p.45
possible person Giat Widjaja p.3 ×2
possible person Reza Mochammad p.3 ×2
possible org PT Bangun Lestari Tirta Lestari p.17 ×2
possible org Bursa Efek Indonesia p.28 ×2
unresolved org PT Energi Sakti Sentosa p.3 ×2
unresolved org PT Nagata Dinamika Hidro Madong p.3 ×5
unresolved org PT Sumatra Energi Lestari p.3 ×2
unresolved org PT Tiara Tirta Energi p.3 ×10
unresolved org PT Superintending p.3 ×2
unresolved org PT SUCOFINDO p.4 ×6
unresolved org PT Kencana Energi Lestari Tbk's p.4 ×2
unresolved org PT PLN (Persero) p.4 ×2
unresolved org Indonesia Stock Exchange p.4
unresolved org PT Energy Sakti Sentosa p.7 ×5
unresolved org PT Nagata Dinamika p.7 ×2
unresolved org PT Sumatra Energi p.7
unresolved org PT Energi Sakti p.8 ×4
unresolved org PT Bangun Tirta p.8 ×6
unresolved org PT Nagata p.8 ×9
unresolved org PT Sumter p.8
unresolved org PT Tirta Tiara p.8 ×2
unresolved org PT Energy Sakti p.8 ×4
unresolved org PT Tiara Tirta p.9 ×6
unresolved org PT Sumatra p.9 ×2
unresolved org PT Nagata Madong p.9
unresolved org PT ESS p.9 ×9
unresolved org PT BTL p.9 ×10
unresolved org PT TTE p.9 ×2
unresolved org PT SEL p.9 ×2
unresolved org Kencana Energi Lesteri Tbk p.10 ×4
unresolved org PT Bangun Water p.11
unresolved org PT Sumatra PLTM Ordi p.11
unresolved org PT SUCOFINDO. Meanwhile p.12
unresolved org PT Kencana Energi Lestari Sustainability p.13
unresolved org PT ESS EO p.14
unresolved org PT Energy Sakti Sentosa Environmental Permit p.14
unresolved org Ministry of Environment p.15
unresolved org PT NDHM p.18 ×3
unresolved org PT NDMH p.19 ×2
unresolved org Minister of PUPR p.21
unresolved org PT Sumatera Energi Lestari p.27 ×2
unresolved org PT Sumatera Energi p.31
unresolved org PT Sumater Energi p.32
unresolved org PT Sumatera p.33 ×3
unresolved org PT Bangun p.35
unresolved org PT SUCOFINDO. Sedangkan p.36
unresolved org PT Kencana Energi Lestari Tahun p.37 ×2
unresolved org Kementerian Lingkungan Hidup p.39
unresolved org Pemerintah Kabupaten Pakpak p.45
unresolved org Menteri PUPR p.45
unresolved person Eligible · Direktur p.46

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