BREN - Expanding geothermal fields in sekincau and hamiding

BREN - Expanding geothermal fields in sekincau and hamiding Barito Renewables Energy (BREN) is set to expand its geothermal fields in Sekincau Selatan, Lampung, and Hamiding, North Maluku, in a strategic move to boost its installed capacity. The company, which goes public on the Indonesia Stock Exchange (BEI) today (10/9/2023). Currently, BREN holds geothermal exploration permits in South Sekincau through its subsidiary Star Energy Geothermal Suoh Sekincau (SEGSS) and in Mount Hamiding through Star Energy Geothermal Indonesia (SEGD). The group aims to elevate gross installed capacity from 230.5 MW to 253.5 MW by 2026. The final stages of the Salak binary power plant, a 14 MW project, are expected to commence operations in 2H23. These initiatives are projected to raise the group's installed capacity from 886 MW in 2022 to an estimated 1,032 MW by 2027. With assets valued at USD3.47 mn, the company will secure fresh funds of IDR3.13 tn from its oversubscribed IPO, issuing 4.01 bn new shares at IDR780 per share. Post-IPO, BREN becomes the renewable energy sector leader on BEI, boasting the highest market capitalization. (Source : Investor Daily)