Jakarta – Shares of renewable energy issuers closed mixed at the end of trading on Tuesday, August 13. At the end of session II of today’s trading, of the 8 shares of renewable energy companies on the Indonesia Stock Exchange, 3 of them ended in the red zone. While 3 stocks stagnated, and 2 stocks ended in the green zone.
The stocks that ended weakened were PT Barito Renewables Energy Tbk (BREN) which fell 0.3% to 8,400, then PT Pertamina Geothermal Energy Tbk (PGEO) which fell 0.41% to 1,225, and PT Arkora Hydro which fell 2.27% to 1,075.
Meanwhile, three shares of renewable energy issuers experienced stagnation, respectively shares of PT Sky Energy Indonesia Tbk (JSKY), PT Kencana Energi Lestari Tbk (KEEN), and PT Semacom Integrated Tbk (SEMA).
As for the shares of renewable energy issuers that strengthened at the end of trading today, namely, PT Terregra Asia Energy (TGRA), which rose 7.41% to level 28, and PT Maharaksa Biru Energi (OASA), which strengthened 0.75% to level 135.
The energy sector index in yesterday’s trade closed up 2.11%, and the Composite Stock Price Index (JCI) ended up 0.81% to 7,356.63.
Shares of issuers engaged in the renewable energy (NRE) business have attracted the attention of market participants in the past year. Especially, after PT Barito Renewables Energy Tbk (BREN) skyrocketed to penetrate the top ranks of issuers with the largest market capitalisation.
However, if accumulated on a year-to-date basis until today’s trading, the pace of BREN shares still lags behind PT Arkora Hydro Tbk, which is a business entity of the Astra Group through PT United Tractors Tbk (UNTR), which accumulated a 52.48% increase in share price.
Meanwhile, BREN shares have only strengthened 12.37% since the beginning of this year.
The stock performance of renewable energy issuers is predicted to shine in the future, in line with the government’s plan to increase the renewable energy mix in Indonesia.
Most recently, the government provided relaxation of the application of the domestic component content rate (TKDN) for solar power plant projects, which are planned to operate commercially no later than June 30, 2026.
The relaxation provision is contained in Article 19 of the Minister of Energy and Mineral Resources (MEMR) Regulation Number 11 of 2024 concerning the Use of Domestic Products for Electricity Infrastructure Development.
“Currently, we are accelerating the construction of solar power plants in Indonesia and many factories have also been established to make solar modules, both from ready-made wafer modules and not. We have noticed that the domestic factories have made such efforts,” Director General of New Renewable Energy and Energy Conservation (EBTKE) of the Ministry of Energy and Mineral Resources Eniya Listiani Dewi stated in Jakarta on Tuesday. (hs)
