August 28, 2024 | 12:00am
MANILA, Philippines — Ayala-led ACEN Corp. has cemented its footprint in Indonesia through a new tie-up with Jakarta-based PT Barito Renewables Energy to fast track the development of its wind projects.
The strategic collaboration will be facilitated through ACEN Indonesia Investment Holdings Pte Ltd and Barito Renewables’ PT Barito Wind Energy.
This came seven months after the ACEN Group acquired three late-stage wind development assets with a combined potential capacity of 320 megawatts (MW) in the provinces of South Sulawesi, Sukabumi and Lombok.
“This exclusive partnership with Barito Renewables represents a bold step forward in our commitment to advancing Indonesia’s renewable energy sector,” ACEN chief investment officer Patrice Clausse said.
At present, the Ayala Group’s listed energy platform has a portfolio of 99 MW of operating and under-construction geothermal capacity in Indonesia.
“It not only aligns with ACEN’s growth strategy in the region but also exemplifies our dedication to fostering innovative and sustainable energy solutions. Together with Barito Renewables, we are prepared to set new benchmarks in the industry and contribute meaningfully to Indonesia’s clean energy goals,” Clausse said.
The partnership is expected to drive a strong commitment to exploring and developing innovative energy projects in line with efforts to boost Indonesia’s shift to a low-carbon economy.
ACEN and Barito Renewables likewise aim to lead the charge in the country’s decarbonization goal to ensure the delivery of clean, reliable and sustainable energy amid growing demand.
Barito Renewables CEO Hendra Tan said their partnership with ACEN “represents a significant step toward realizing our mission of driving sustainable energy growth in Indonesia.”
These international projects bode well with ACEN’s ambitious target of quadrupling its renewable energy (RE) capacity to 20 gigawatts (GW) by 2030.
It currently boasts a total attributable RE capacity of 4.8 GW across the Philippines, Australia, Vietnam, Indonesia and India.
ACEN, through wholly owned ACEN Renewables International, signed a green term loan facility of $150 million with SMBC Singapore in April to support the expansion of its RE portfolio.
Last month, a five-year syndicated green term loan and revolving credit facility of $150 million was secured from a consortium of foreign lenders led by the CTBC Bank Group.
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