Jakarta — PT Arkora Hydro Tbk (IDX: ARKO) reported a solid financial and operational performance in its 2024 Annual and Sustainability Report, highlighting its growing presence in Indonesia’s renewable energy sector.
The company posted a 33.63% year-on-year increase in revenue, reaching Rp238.91 billion, mainly driven by construction income from its Yaentu, Kukusan, and Tomoni hydropower projects. Net profit for the year rose 6.69% to Rp41.80 billion, reflecting operational efficiency and the strategic execution of new power plant projects.
A key milestone in 2024 was the commercial operation date (COD) of the Yaentu Project on October 16. Located in Poso, Central Sulawesi, the 10 MW run-of-river plant is Arkora’s largest operational asset, contributing 35.4% of the company’s projected electricity output. With Yaentu online, Arkora now operates three hydropower plants, achieving 84.6% of its annual production target despite challenges from lingering El Niño impacts.
Total assets increased to Rp1.32 trillion in 2024, up from Rp1.16 trillion in 2023. The company’s equity also grew to Rp451.63 billion, supported by prudent financial management and ongoing project expansions. Arkora reduced its operational carbon footprint by 33,336 tons of CO₂e and increased CSR spending to Rp415 million.
Looking ahead, Arkora is focusing on completing the Kukusan and Tomoni projects and expanding its renewable energy pipeline beyond 260 MW. With continued government support for clean energy and a favourable regulatory landscape, the company remains optimistic about sustaining its growth trajectory in 2025.
ARKO is an Indonesian company specialising in developing and operating hydropower plants. Established in 2010 and headquartered in Jakarta, the company focuses on constructing small to medium run-of-river hydropower plants, particularly in remote areas with stable demand but insufficient power supply.
Currently, Arkora Hydro operates three hydropower plants: Cikopo Mini Hydro Power Plant (MHPP), a 7.4 MW run-of-river plant located in West Java; Tomasa MHPP, a 10 MW facility in Central Sulawesi; and Yaentu MHPP, a 10 MW plant in Central Sulawesi. The company is constructing the Kukusan 2 MHPP, a 5.4 MW plant in Lampung. (nsh)
Banner photo: Image generated by OpenAI’s DALL·E via ChatGPT (2023)
