Merdeka.com - The issuer of new renewable energy provider PT Kencana Energi Lestari Tbk (KEEN) posted a 6.8 percent increase in profit to USD 5.13 million in the second quarter of 2021 compared to the same period the previous year of USD 4.81 million in line with the Hydro Power Plant ( PLTA) Air Putih in Bengkulu which has been fully operational.

KEEN Vice President Director Wilson Maknawi said profit growth was supported by revenue which reached USD 18.2 million in the second quarter of 2021, up 128.9 percent from the second quarter of 2020 of USD 7.95 million. According to Wilson, the increase in the company's revenue and profit was supported by the increase in electricity production at the Pakkat hydropower plant and the Air Putih hydropower plant.

"The Air Putih project has been fully operational since early 2021 so it can make a significant contribution to KEEN's performance during the first half of 2021," said Wilson in Jakarta, quoted by Antara, Wednesday (6/10).

Due to the increase in electricity production, Kencana Energy's management estimates that the company's revenue by the end of 2021 will reach USD41.8 million, an increase compared to 2020's revenue of USD25.3 million. "Meanwhile, we estimate the 2021 net profit to reach USD 10.7 million, an increase from the 2020 profit of USD 8.64 million," said KEEN Finance Director Giat Widjaja.

Wilson said that his party is optimistic that it can achieve its growth target until the end of 2021 because the Madong Mini-hydro Power Plant (PLTM) project in South Sulawesi is scheduled to be completed by 2021. "The construction progress of the Madong project so far is still on target and by the end of the year it can start producing," said Wilson.

If the Madong PLTM project operates later, this year Kencana Energy can supply electrical energy from three generating units.

Each of the Pakkat PLTA, Air Putih PLTA and Madong PLTM. So far, the Pakkat hydropower plant has operated optimally to fulfill the supply contract to PLN. Meanwhile, the Air Putih PLTA has been fully operational since the beginning of the first semester of 2021. Meanwhile, the Madong PLTM construction has reached 92.6 percent until the end of September 2021.

"Thus, the Madong PLTM has entered the finalization stage to be fully operational by the end of this year. Thus, there is an electricity contribution from this third KEEN project," said Wilson.

After the Madong PLTM project is completed, Wilson continued, there are no new projects that the company will undertake. So far, the due diligence process for the acquisition of the two PLTM projects in the North Sumatra region is still in the negotiation process.

Thus, there is no significant information related to the acquisition plan. However, the acquisition plan will continue after the negotiation process has come to light. [azz]

Source : https://www.merdeka.com/uang/plta-air-putih-beroperation-Full-laba-keen-naik-68-persen.html