Renewable energy stocks rally on Monday, February 17

Jakarta—Shares of renewable energy companies listed on the Indonesia Stock Exchange (IDX) closed higher on Monday, February 17, with all eight stocks recording gains. The Indonesian Composite Price Index (IDX Composite) closed higher by 2.81% to 6,824.845.

Leading the rally, PT Barito Renewables Energy Tbk (BREN) surged 14.23% to 7,025, marking the day’s biggest gain. PT Hero Global Investment Tbk (HGII), PT Kencana Energi Lestari Tbk (KEEN), PT Arkora Hydro Tbk (ARKO), and PT Pertamina Geothermal Energy Tbk (PGEO) each rose 0.54% to 196, 0.79% to 640, 0.54% to 930, and 0.56% to 890, respectively.

Meanwhile, PT Maharaksa Biru Energi Tbk (OASA) gained 3.13% to 132, PT Semacom Integrated Tbk (SEMA) edged up 1.14% to 89, and PT Terregra Asia Energy Tbk (TGRA) climbed 6.82% to 47.

Trading activity was highest for BREN, with over 45 million shares exchanged. The broad-based gains in renewable energy stocks reflected strong investor confidence at the start of the week. (nsh)

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