(July 30, 2025)--PEFINDO has assigned its idAA- rating with stable outlook for PT Barito Renewable Energy Tbk (BREN). The rating reflects the Company’s very strong market position, solid earning visibility, and benefit from strong Government commitment to renewable energy development. Its moderate financial leverage and exposure to geological risk and unfavorable weather might constrain the rating.
The rating may be raised if BREN strengthens its business by successfully increasing its installed capacity, as well as maintaining high availability and capacity factors for all of its assets. This should be accompanied by a sustained improvement in the financial profile through deleveraging efforts and higher cash flow generation. The rating may be lowered if there is a persistent deterioration in its financial profile due to higher debt than projected without being compensated for by stronger cash flow generation.
Established in 2018, BREN (previously PT Barito Cahaya Nusantara) engages in renewable power generation, including geothermal and wind power business, through its operating assets of Wayang Windu, Salak, Darajat, and Sidrap-I. As of December 31, 2024, its shareholders consisted of PT Barito Pacific Tbk (64.7%), Green Era (23.6%, controlled by Pangestu family), and the public (11.7%). (ends)
