02/05/2024. PT Bank Negara Indonesia (Persero) Tbk or BNI has demonstrated its commitment to supporting the green energy transition by funding the acquisition of the Sidrap Wind Power Plant (PLTB) with a capacity of 75 Megawatts (MW) in South Sulawesi, which is the largest PLTB in Indonesia.
BNI has signed a Facility Agreement of USD110 million with PT Barito Wind Energy, a subsidiary of PT Barito Renewables Energy Tbk (Barito Renewables) consisting of Tranche A of USD70 million for acquisition financing and Tranche B of USD40 million for General Corporate Purposes. BNI supports PT Barito Wind Energy's strategic move to acquire 99.99% of PT UPC Sidrap Bayu Energi (Sidrap) shares from UPC Renewables Asia Pacific Holdings Pte. Ltd., ACEN Renewables International Pte. Ltd., UPC Renewables Asia III Limited, Sidrap (HK) Limited, and Sunedison Sidrap B.V.
An integral part of this acquisition is PT UPC Operation and Maintenance Indonesia (OMI), which is an important component in supporting Sidrap's operational activities. The signing of the Facility Agreement was carried out directly by Corporate Banking-2 SVP Ditya Maharhani, in Jakarta, Thursday (28/03/2024).
BNI Corporate Secretary Okki Rushartomo said that the funding is a strategic step for BNI in strengthening its financing portfolio in the green energy sector. Sidrap PLTB has the potential to produce clean and sustainable electricity, and helps reduce greenhouse gas emissions.
"BNI, as an ecologically friendly bank, is certainly enthusiastic about participating in a project that will advance sustainable energy solutions in Indonesia. This is proof of our shared commitment to renewable energy and BNI is very enthusiastic about being involved in the acquisition of the Sidrap PLTB," said Okki.
He emphasized that BNI is committed to continuing to support the government's efforts in providing and building energy sources that are strategic capital in economic development in Indonesia.
"BNI is committed to continuing to support the development of green energy in Indonesia as part of its contribution to environmental preservation and sustainable development while increasing national energy security," he concluded.