Jakarta—PT Kencana Energi Lestari Tbk (IDX: KEEN) reported revenue of USD14 million from its hydropower concession project in 2024, accounting for 37% of the company’s total annual revenue, according to its audited financial report, posted on the Indonesia Stock Exchange’s (IDX) information transparency page on March 21.
The revenue stems from a Build-Own-Operate-Transfer (BOOT) agreement between its subsidiary, PT Tiara Tirta Energi, and state electricity company PT PLN (Persero). The agreement grants Kencana rights to finance, build, and operate hydroelectric power plants, strengthening the company’s role in Indonesia’s renewable energy push.
The 2024 financial statements received an unqualified opinion from auditor KAP Mirawati Sensi Idris, with no emphasis-of-matter paragraphs — a sign of solid financial governance and compliance with PSAK accounting standards.
As the country intensifies efforts to decarbonise its power sector, Kencana Energi’s performance reflects growing investor confidence in Indonesia’s green infrastructure. (nsh)
Banner photo: Image generated by OpenAI’s DALL·E via ChatGPT (2025)
