Jakarta – PT Barito Renewables Energy Tbk (IDX: BREN), a leading Indonesian renewable energy company, announced its audited consolidated financial results for the year ending December 31, 2024 on March 21. The company reported revenues of USD597 million, an EBITDA of USD515 million, and a net profit of USD155 million, marking a 6.8% increase over the previous year.
Hendra Soetjipto Tan, Barito Renewables’ CEO said “Throughout 2024, we navigated operational challenges while maintaining our commitment to efficiency and sustainability. Despite the temporary setback in geothermal production, our extensive renewable energy portfolio contributed to stable revenue and increased profitability.”
He said, the wind energy segment was pivotal, contributing approximately 4% to consolidated revenues. The company’s disciplined cost reduction initiatives expanded the EBITDA margin to 86.3%.
“The improvements in our cost structure and operational efficiency have strengthened our business fundamentals, allowing us to deliver stronger earnings. Looking ahead, we remain committed to expanding our renewable energy capacity and supporting the country’s energy transition target,” said Hendra.
In line with its commitment to support Indonesia’s net-zero targets, Barito Renewables successfully completed the Salak binary project, adding 16.6 MW to its generation capacity—exceeding initial expectations. The company continues to pursue strategic investments to further expand its renewable energy portfolio.
Established in 2018 and headquartered in Jakarta, PT Barito Renewables Energy Tbk focuses on generating and selling geothermal and wind power in Indonesia. As a subsidiary of PT Barito Pacific Tbk, the company operates several geothermal plants, including Wayang Windu Geothermal Plant. Located approximately 40 kilometres south of Bandung in West Java, this facility has an electricity capacity of around 230.5 megawatts (MW) and supplies the Java-Madura-Bali (JAMALI) grid.
The Darajat II Geothermal Plant in Garut, West Java, has a combined steam and electricity capacity of 274.5 MW. It supplies geothermal steam to a 55 MW power plant operated by PLN. The third plant is Salak Geothermal, in Sukabumi, West Java, situated about 70 kilometres from Jakarta. The Salak facility supplies geothermal steam to generate electricity from a 180 MW power plant operated by PLN and also operates additional power plants with a combined capacity of 201 MW for the JAMALI grid. (nsh)
Banner photo: Image generated by OpenAI’s DALL·E via ChatGPT (2025)
