Jakarta – Shares of PT Barito Renewables Energy Tbk (BREN) on Thursday, September 19, closed up 2.8% higher to 11,025. The shares of this renewable energy issuer helped push the Indonesia Composite Index (IDX Composite) to set an all-time high at the intraday close, with a gain of 0.97% to 7,905.39.
In today’s trading, BREN shares were traded at levels 10,725 to 11,350, with a trading value of IDR 405.33 billion. Thus, since the beginning of this year, Barito Renewables Energy shares have strengthened 47.49%, bringing the market capitalisation value of this Prajogo Pangestu conglomerate group issuer to IDR 1,474.99 trillion.
Not only BREN shares. Today, four other renewable energy issuers’ shares ended in the green zone.
The four stocks are PT Pertamina Geothermal Energy Tbk (PGEO), which strengthened 0.45% to 1,125, PT Kencana Energi Lestari Tbk (KEEN) shares strengthened 0.72% to 695, and PT Arkora Hydro Tbk (ARKO) shares appreciated 2.09% to 975. And shares of PT Maharaksa Biru Energi Tbk (OASA) rose 4.08% to 153.
BREN shares closed green today after news of a business expansion plan carried out through its subsidiary, Star Geothermal Energy, to significantly increase the installed capacity of the Geothermal Power Plant (PLTP).
Barito Renewables Energy President Director Hendra Soetjipto Tan said the strategic initiative aims to increase the capacity of Star Energy Geothermal through retrofitting projects and adding new capacity. This will increase the capacity of various geothermal units operated by Star Energy and support Indonesia’s efforts to achieve the net-zero emissions target.
“By retrofitting and adding capacity to existing plants, we are ensuring a sustainable and efficient future for clean energy in the country,” Hendra said in a statement on Thursday. He explained that the partnership increases capacity and encourages technological advances in geothermal energy, putting the company in a leading position in the industry. (hs)
