Glimpsing the Prospects of Renewable Energy Issuers Amid Global Index Dynamics

Several renewable energy (EBT) issuers are estimated to still have the opportunity to shine amid global index dynamics. Although they experienced a decline following the Morgan Stanley Capital International (MSCI) announcement, EBT company shares are believed to be able to recover this year. This is not without reason, as the strengthening of EBT shares is assessed to be supported by energy mix targets, decarbonisation commitments, and strategic investment support. Moreover, the global index provider FTSE Russell has announced Indonesia’s capital market status at the secondary emerging market level or not included in the watch list for status downgrade. This decision serves as evidence of the credibility of Indonesia’s capital market reforms and provides a strong foundation amid negative sentiment related to the MSCI index. Although the recent High Shareholding Concentration (HSC) announcement by the Indonesia Stock Exchange (BEI) has triggered speculation regarding selling pressure on giant issuers like BREN and DSSA, leading to a temporary decline, this reaction is considered a ‘knee-jerk’ psychological response that ignores the actual market mechanisms. “FTSE Russell’s decision to maintain Indonesia as a Secondary Emerging Market and explicitly not including it in the Watch List is a validation signal that should serve as the main counterbalance amid speculation surrounding MSCI. Two global index institutions are evaluating the same market, and one of them is giving a firmly positive assessment,” states the Strategic Note report from Henan Sekuritas, quoted on Sunday (12/4/2026). It is no wonder that global and domestic investor confidence remains very high. The world’s largest asset manager, BlackRock, has even been recorded continuously accumulating ownership in BREN (increasing 176 times since Q1 2024), indicating very high conviction buying in the renewable energy sector. Even large domestic institutions with substantial assets under management are ready to absorb liquidity as a natural counterparty. Additionally, BREN’s 6-month Volume Weighted Average Price (VWAP) is moving in the range of Rp9,000 to Rp9,100 with more than 3 billion shares traded. “In the context of BREN, the liquidity risk circulating in the public is far greater than the reality: 6-month VWAP data shows the average price moving in the range of Rp9,000 to Rp9,100 with more than three billion shares transacted; this is a solid accumulation base,” Henan Sekuritas’ research adds. Thus, index dynamics are believed not to affect the company’s operational growth engine. BREN will remain consistent in reaching 1 GW capacity through stable long-term Power Purchase Agreements (PPA), which no longer needs to be questioned. “In this context, volatility triggered by short-term sentiment tends to be temporary, while intrinsic value will remain determined by long-term fundamental strength,” concludes the Henan Sekuritas research report.