BREN - Prajogo Pangestu buys additional shares, 102.MW expansion planned

BREN - Prajogo Pangestu buys additional shares, 102.MW expansion planned Barito Renewables Energy (BREN) announced that Prajogo Pangestu increased his shareholding on October 2 and 3, 2024, by purchasing 26.6 mn shares at an average price of IDR 6,802/share, totaling approximately IDR181 bn. This raised his ownership in BREN from 0.06965% to 0.08954%. Additionally, BREN plans to expand its power generation capacity by 102.6 MW. (Source : Company) Comment : Prajogo Pangestu’s increased stake likely boosts investor confidence, reflecting strong internal confidence in BREN’s future. The 102.6 MW expansion will bring BREN to 988.6 MW, securing its position as Indonesia’s largest geothermal power producer and one of the world’s biggest (not including the 75 MW wind power plant). This positions BREN for further capacity growth, enhancing long-term revenue potential and market leadership in renewable energy.