Jakarta, July 1, 2024 – PLN Nusantara Renewables (PLN NR) held its General Meeting of Shareholders (GMS) to obtain approval of the Annual Report and approval of the Financial Statements for the fiscal year 2023. The GMS was held on Friday (June 28, 2024) at The Tribrata Dharmawangsa, Jakarta, chaired by the Board of Directors of PLN Nusantara Power (PLN NP) as the Majority Shareholder.
In its first year since transforming from PT PJBI, PLN NR reported "All Green" performance where all KPIs for 2023 were achieved over 100%, with none falling below target. According to audit results, the company's KPI score increased by 2.22 points from the previous year to reach 104.95.
Compared to the figures in the Company's Work Plan and Budget (RKAP) for 2023, PLN NR recorded a revenue of 776.75 billion, surpassing the target of 772.33 billion. Additionally, net profit for PLN NR exceeded the target, amounting to 790.26 billion IDR, equivalent to 104% of the initial target.
Key factors influencing the 2023 realization include positive project performance in operational, construction, and initiation phases. Notable achievements include Jawa 7 Coal-Fired Power Plant reaching electricity production of 12.63 TWh, the commencement of commercial operations at Cirata Floating Solar Power Plant generating 25.8 GWh of green electricity, and the groundbreaking and establishment of a Joint Venture Company (JVC) for IKN Solar Power Plant.
All shareholders present that day appreciated PLN NR's performance in 2023 and conveyed messages for the fiscal year 2024 to proceed more optimally. In response, Harjono, President Director of PLN NR, thanked the shareholders for their support and expressed commitment to enhancing the company's performance. He stated, "2024 will be a year full of challenges and opportunities for PLN NR. We will continue to focus on sustainability, innovation, and collaboration to ensure that PLN NR remains a pioneer in renewable energy development in the homeland."
With solid performance and satisfactory achievements in 2023, the company is optimistic about facing challenges and seizing opportunities in 2024. With the support of all stakeholders, PLN NR hopes to further enhance its contribution in the renewable energy sector, achieve new targets, and create greater positive impacts for the environment and society.
PT PLN Nusantara Renewables (PLN NR) and GD Power Hong Kong Overseas Investment Company Limited (GDHK) have formed a consortium (NR-GDHK Consortium) to develop the 100 MW Karangkates Floating Solar Power Plant in the Sutami Reservoir, East Java, Indonesia (the Project). The Project is located in the Sutami Reservoir and Karangkates Dam, situated in Malang City/Regency, East Java Province, Indonesia. The Project is planned to be built within the area of the Sutami Reservoir and Karangkates Dam, including the 150kV Karangkates Substation, extension of 2 line bays at the 150kV Sutami Substation, and 150kV double-circuit overhead line (OHL) transmission from Karangkates Substation to Sutami Substation.(Download more information on the "Procurement" page)The Project includes the construction of a floating solar power plant with a DC (direct current) installed capacity of not less than 133 MWp and an AC (alternate current) installed capacity of not less than 100 MWac. The parties participating in this tender (Tender Participants) are responsible for the entire Project process, including obtaining all necessary permits related to Project construction; conducting all surveys and designs; carrying out all construction work; performing all installations; procuring all equipment (including supervising equipment manufacturing); conducting all system testing, and project handover; providing personnel training; ensuring quality performance; maintaining project quality, and providing maintenance for 1 (one) year after the commercial operation date (COD).The Tender Participants are responsible for designing, constructing, and delivering the solar power plant in compliance with the overall performance requirements and related technical standards, with complete functionality and adequate living facilities, under an engineering, procurement, and construction (EPC) contract.
Jakarta, July 2, 2024 – In 2025, another portfolio of renewable energy plants owned by PLN Nusantara Renewables (PLN NR) will commence commercial operations. Collaborating with TBS Energi Utama Tbk (TOBA), the company is currently preparing the Floating Solar Power Plant (PLTS) Terapung Tembesi located in Batam. Projected to generate clean electricity, this floating solar plant with a capacity of 35 MWac or 46 MWp is expected to produce up to 57 GWh annually.PLTS Terapung Tembesi will float on the Tembesi Reservoir owned by Batam Industrial Development Authority (BP Batam), leased by PT TBS Energi Utama. Utilizing one of Batam's largest reservoirs, this initiative aims to prepare Batam as a hub for renewable energy development, playing a crucial role in regional and national economic enhancement.The plant will be built using bifacial solar panel technology—panels capable of capturing energy from both sides, providing advantages such as up to 30% increased energy production and improved performance in low-light conditions.The Power Purchase Agreement (PPA) for this project was signed on February 12, 2024. Through this agreement, it was confirmed that PLN Nusantara Power and PT TBS Energi Utama will sell electricity to PLN Batam via the 20 kV GI Panaran network. On April 4, 2024, the Joint Venture Company (JVC) named PT Nusantara Tembesi Baru Energi (NTBE) was officially inaugurated to oversee this Rp 481 billion investment project. The share ownership structure of this JVC is divided with 51% owned by PLN NR and 49% by PT Batam Tirta Surya."This Tembesi Floating Solar Power Plant project is a concrete step in supporting Indonesia's government target to increase renewable energy contribution in the national energy mix," said Harjono, President Director of PLN Nusantara Renewables. With PLTS Terapung Tembesi, the company aims to significantly contribute to carbon emission reduction and achieve clean energy targets.It is hoped that this project will serve as a successful example inspiring the development of other renewable energy projects across Indonesia, accelerating the transition towards more sustainable and environmentally friendly energy use.
Jakarta, July 1, 2024 – PLN Nusantara Renewables (PLN NR) continues to bolster its investment portfolio in renewable energy to support Indonesia's energy transition. With a focus on reducing emissions, empowering communities, and ensuring transparent governance, PLN NR is committed to sustainable corporate practices.Currently, PLN NR has 910 MW of Independent Power Producer (IPP) projects based on New and Renewable Energy (EBT) in various stages of initiation, construction, and operation, poised to contribute significantly to Indonesia's electricity sector. This portfolio includes 4 Floating Solar Power Plant (PLTS) projects totaling 330 MW, 1 Hydroelectric Power Plant (PLTA) project with a capacity of 510 MW, and 1 Wind Power Plant (PLTB) project with a capacity of 70 MW spread across Sumatra, Java, and Kalimantan.Among these projects, four are solar initiatives, featuring three Floating Solar Power Plants: PLTS Terapung Cirata (145 MWac), PLTS Terapung Tembesi (35 MWac), PLTS Terapung Karangkates (100 MWac), and PLTS IKN (50 MW). Floating Solar Power Plants dominate PLN NR's solar portfolio due to their land efficiency and positive environmental impact on water bodies, such as reducing water evaporation and enhancing solar panel efficiency through water cooling.In addition to solar ventures, PLN NR is advancing the Batang Toru Hydroelectric Power Plant with a capacity of 510 MW, expected to generate 2,124 GWh of electricity annually for Sumatra. In South Kalimantan, PLN NR is initiating the Tanah Laut Wind Power Plant project with a capacity of 70 MW, utilizing stable wind speeds of 6 – 7.3 m/s at a height of 100 meters to meet a demand of 158 GWh per year in Kalimantan.With a total of 910 MW in green electricity generation, PLN NR aims to avoid over 2 million tons of CO2 emissions annually. This represents a significant stride towards Indonesia's national goal of achieving net-zero emissions by 2060. Moreover, these initiatives are expected to create new employment opportunities and stimulate local economic growth.Moving forward, PLN NR plans to expand its energy portfolio through enhanced collaboration with various partners—from both the government and private sectors. Harjono, President Director of PLN NR, emphasized, "We are committed to advancing clean energy for a better future. Furthermore, we integrate ESG principles into every aspect of our operations to ensure that our business is not only sustainable but also benefits society and the environment."
IKN, July 1, 2024 – Unlike previous years, the 79th Anniversary Ceremony of the Republic of Indonesia this year will be held in two locations, namely Nusantara Capital (IKN) and the State Palace. In its implementation, the ceremony at IKN will be led by President Joko Widodo and will be entirely powered by green energy produced by the IKN Floating Solar Power Plant.Currently, Nusantara Capital (IKN) is being developed into a Smart Forest City, where only 25% of the area is built, while the remaining 75% will be green areas. This capital city will utilize technology to improve the quality of life for its residents and preserve the environment.The IKN Floating Solar Power Plant is one of the government's commitments to utilize Renewable Energy (EBT) in achieving IKN's mission as a low-carbon emission city. On November 2, 2023, the groundbreaking for this power plant was conducted by President Joko Widodo to demonstrate the government's and PLN Group's commitment to providing reliable green electricity systems.The first phase of development of the IKN Floating Solar Power Plant, with a capacity of 10 MW, was successfully executed through the synergy of four subsidiaries of PLN Nusantara Power (PLN NP), each playing different roles aligned with their respective business fields. PLN Nusantara Renewables acted as the project owner, PLN Suku Cadang ensured supply chain stability, PLN NP Construction led the construction of substations and transmission networks, and PLN NP Services executed the installation of the solar power plant according to the industry standards.The harmonious synergy among these subsidiaries enabled the IKN Floating Solar Power Plant to achieve significant milestones within a short time-frame. In fact, just months after the groundbreaking, the first phase of the IKN Floating Solar Power Plant was connected to the 20 kV network in East Kalimantan on February 27, 2024, and began commercial operations on June 3, 2024.Harjono, President Director of PLN Nusantara Renewables, expressed pride and gratitude for the strong synergy among PLN NP subsidiaries. "The IKN Floating Solar Power Plant is truly a monumental and ambitious project in green energy development. With this strong synergy, we aim to overcome future energy transition challenges and position Indonesia as a model for other countries in renewable energy utilization," he said.Currently, the development of the IKN Floating Solar Power Plant is entering its second phase (40 MW), managed by PT Nusantara Sembcorp Solar Energy (NSSE) – a Joint Venture Company owned by PLN Nusantara Renewables and SembCorp Utilities Pte. Ltd. This international partnership is expected to facilitate the transfer of knowledge and technology to enhance Indonesia's capacity in EBT, particularly in the Central Indonesian region. It is anticipated that the second phase of the IKN Floating Solar Power Plant will commence commercial operations in Q4 of 2024.
Jakarta, July 1, 2024 – PLN Nusantara Renewables (PLN NR) held its General Meeting of Shareholders (GMS) to obtain approval of the Annual Report and approval of the Financial Statements for the fiscal year 2023. The GMS was held on Friday (June 28, 2024) at The Tribrata Dharmawangsa, Jakarta, chaired by the Board of Directors of PLN Nusantara Power (PLN NP) as the Majority Shareholder.In its first year since transforming from PT PJBI, PLN NR reported "All Green" performance where all KPIs for 2023 were achieved over 100%, with none falling below target. According to audit results, the company's KPI score increased by 2.22 points from the previous year to reach 104.95.Compared to the figures in the Company's Work Plan and Budget (RKAP) for 2023, PLN NR recorded a revenue of 776.75 billion, surpassing the target of 772.33 billion. Additionally, net profit for PLN NR exceeded the target, amounting to 790.26 billion IDR, equivalent to 104% of the initial target.Key factors influencing the 2023 realization include positive project performance in operational, construction, and initiation phases. Notable achievements include Jawa 7 Coal-Fired Power Plant reaching electricity production of 12.63 TWh, the commencement of commercial operations at Cirata Floating Solar Power Plant generating 25.8 GWh of green electricity, and the groundbreaking and establishment of a Joint Venture Company (JVC) for IKN Solar Power Plant.All shareholders present that day appreciated PLN NR's performance in 2023 and conveyed messages for the fiscal year 2024 to proceed more optimally. In response, Harjono, President Director of PLN NR, thanked the shareholders for their support and expressed commitment to enhancing the company's performance. He stated, "2024 will be a year full of challenges and opportunities for PLN NR. We will continue to focus on sustainability, innovation, and collaboration to ensure that PLN NR remains a pioneer in renewable energy development in the homeland."With solid performance and satisfactory achievements in 2023, the company is optimistic about facing challenges and seizing opportunities in 2024. With the support of all stakeholders, PLN NR hopes to further enhance its contribution in the renewable energy sector, achieve new targets, and create greater positive impacts for the environment and society.
