Jakarta – Four clean energy startups have received funding from New Energy Nexus (NEX) through the ‘Indonesia 1 Fund’ and ‘Smart Energy Grants’, the company said in a written statement Wednesday (30/3). Two companies that received funding and have been added to the Indonesia 1 Fund portfolio include Synergy Efficiency Solutions (SES), an energy efficiency company, and SWAP Energi, a startup engaged in e-mobility.
Indonesia 1 Fund also made a joint investment with East Ventures, PT Saratoga Investama Sedaya Tbk. (Saratoga), and Schneider Electric to invest further in solar PV startup Xurya in a USD 21.5 million Series A round. This funding is the largest Series A funding received for a clean energy startup in Indonesia.
Program Director at New Energy Nexus Indonesia, Diyanto Imam said, the investment is based on the great opportunity that clean energy and climate innovation startups have in Indonesia to be able to revolutionize this sector. This support is to bridge the funding gap for startups engaged in the clean energy sector in Indonesia
“Moreover, Indonesia is still very dependent on fossil fuels. But if we support and empower clean energy startups and can contribute to the development of investment in this sector, we can accelerate the clean energy transition, and create more jobs,” he said.
Imam added that since 2019, the company has provided funding to 16 startups through Smart Energy Grants and the Indonesia 1 Fund. Through this funding, the company is committed to accelerating the clean energy transition and supporting Indonesia’s commitment to tackling climate change.
In addition to the Indonesia 1 Fund, New Energy Nexus Indonesia has also mobilized grant funds through Smart Energy Grants. This program aims to support startups at the prototyping stage and help them to validate their business ideas. As of December 2021, New Energy Nexus Indonesia provided grants for nine clean energy and climate change innovation startups.
Meanwhile, according to data from the Indonesian Ministry of Energy and Mineral Resources, Indonesia has renewable energy potential of up to 400,000 MegaWatt (MW), with the main targets being solar and hydropower.
Managing Director of Xurya Daya Indonesia, Eka Himawan said, by the end of 2021, Xurya had installed 57 Solar Power Plants (PLTS). “With Series A funding, we will invest more in technology development and human resources,” said Eka. (Hartatik)
Banner photo: New Energy Nexus (NEX) Indonesia, supported by the IKEA Foundation, has disbursed investment funds to four solar panel companies. (Source: NEX Indonesia)
