Bisnis, JAKARTA — The Initial Public Offering (IPO) of tycoon Prajogo Pangestu-owned PT Barito Renewables Energy Tbk. (BREN) was carried out amid the government’s push for increasing New Renewable Energy (NRE) mix for long-term electricity generation.

Felix Darmawan, Equity Analyst at Panin Sekuritas, said NRE companies in the medium and long term seem quite promising in general as the government is actively addressing the negative externalities of fossil energy, particularly air pollution.

“I believe that the prospects for NRE stocks in the medium to long term are quite promising,” Felix told Bisnis on Friday (15/9/2023).

The government's focus is reflected in PT PLN's plan to revise the Electricity Supply Business Plan (RUPTL) to increase NRE mix to 75 percent, providing ample growth potential for the NRE industry in Indonesia.