Barito Renewables secures $300m loan to support new geothermal projects in Indonesia
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Barito Renewables has obtained a $300m loan from Bangkok Bank to support the development of two greenfield geothermal sites in Indonesia.
PT Barito Renewables Energy (BREN), through its subsidiary Star Energy Group Holdings Pte Ltd (SEGPHL), has secured a term loan facility worth a maximum of USD 300 million from the Bangkok Bank Public Company Limited (Bangkok Bank). Based on the company’s statement, the financing will go towards pre-construction and further development activities at two greenfield geothermal sites in Indonesia, namely Suoh-Sekincau (Lampung) and Hamiding (North Halmahera).
According to BREN Corporate Secretary Randhika Oktaviana, the loan facility will help the business group maintain its liquidity and funding structure while also supporting capital expenditure and the development of new geothermal power projects.
As explained in the company statement, the loan facility consists of two financing commitment, structured as follows:
- Facility A, with a maximum value of USD 105 million, will be used to finance pre-construction work for the Suoh-Sekincau project through equity participation in PT Star Energy Suoh Sekincau (SEGSS).
- Facility B, with a maximum value of USD 195 million, will be used for the construction of both Suoh-Sekincau and Hamiding projects. USD 105 will be allocated to Suoh-Sekincau while the remaining USD 90 million will be for Hamiding through equity participation in PT Star Energy Geothermal Indonesia (SEGI).
The statement further added that SEGPHL may use any unutilized amount to fund other projects, given that the aggregate amount under Facility B does not exceed USD 195 million. The loan facility has a term of 60 months from the date of first drawdown.
Star Energy Geothermal had previously announced the start of exploration drilling at the Hamiding site before the end of 2025. Earlier this year, the company had signed a collaboration framework with SLB to support the development of the Suoh-Sekincau geothermal project.
BREN already operates the Wayang Windu, Darajat, and Salak geothermal fields through Star Energy Geothermal. Both Salak and Darajat are operated under a Joint Operating Contract with PT Pertamina Geothermal Energy. In 2025, BREN also secured a USD 121 million loan to support capacity expansion work at the Salak and Darajat fields.
Source: Katadata and Bisnis.com
