Jakarta – Renewable energy company PT Barito Renewables Energy Tbk (BREN) has realised the use of capital expenditure funds of USD 52.4 million until the end of September 2024. BREN management said the realisation was equivalent to 31.75% of this year’s capital expenditure target of around USD165 million, or Rp2.57 trillion.
Director of Barito Renewables Energy, Merly, in a public exposé in Jakarta on Thursday, October 24, said that the company’s capital expenditure this year is focused on two allocations: maintenance of operating assets and development of power plant capacity.
Of the total USD 52.4 million in capital expenditure funds realized until the end of the third quarter of 2024, USD 33 million was allocated to existing assets, and USD 19 million was allocated to business development needs.
President Director of Barito Renewables Energy Tan Hendra Soetjipto added that one of the company’s business growth strategies is to acquire renewable energy assets. The acquisitions include domestic and foreign areas.
However, Hendra still needs to detail BREN’s further acquisition plans. He only mentioned that the company focuses on renewable energy assets based on geothermal and wind.
BREN shares continued their downward trend on Thursday’s trading, closing down 2.31% to the level of 7400. (hs/nsh)
