Jakarta—PT PLN (Persero) has set a target of creating an Indonesian green energy startup with unicorn status or a valuation of more than USD 1 billion.
Since last year, PLN has started building a concrete energy startup ecosystem, such as hosting a Startup Day on Wednesday, 21 May, to bring together startups in the renewable energy sector with industry partners, investors, and academics.
“We at PLN do not want to be a single player. We want to be a partner, facilitator and accelerator for green energy startups in Indonesia,” said Hartanto Wibowo, Director of Corporate Planning and Business Development at PLN.
“We have started building the ecosystem since 2023. We hope that from this ecosystem, energy startups will be born that can penetrate unicorn valuations such as Solar Edge, SunPower, or H2Pro abroad,” said Hartanto.
PLN sees the urgency of creating a domestic green energy unicorn as part of the national energy transition strategy and strengthening technological independence.
Collaboration, not competition
Hartanto said that multi-stakeholder collaboration is an absolute requirement to create a local green unicorn. PLN opens opportunities for cooperation with investors, research institutions, universities, industry players, and innovator communities.
“Sustainability will not come from business as usual. We need new ideas, speed of adaptation, and cross-border partnerships,” he said. He added that PLN is ready to become a collaboration platform to strengthen the competitiveness and capabilities of local energy startups to penetrate the global market.
“We will assist startups that dare to dream big. We will help access technology, partner networks, and financing. We will not remain silent,” said Hartanto.
Indonesia currently has 14 unicorns, although the majority still come from the financial technology and transport sectors. PLN wants to add to this list by presenting a unicorn from the clean energy sector.
PLN references some global inspirations, including Solar Edge (Israel), SunPower (US), Northvolt (Sweden), Powerwall (Tesla), Off-Grid Power, Sense, H2Pro, and Cloud Power. These startups have shown how energy innovation can evolve into global solutions and high-value businesses.
PLN seeks to build an energy innovation value chain from upstream to downstream, from developing solar panel technology, smart grids, battery storage systems, to AI and IoT-based energy efficiency. On the downstream side, PLN wants to ensure startups can access markets, obtain financing, and penetrate exports. “We don’t want startups just to be participants in innovation competitions. We want them to live, grow, and go global,” said Hartanto. (Hartatik)
Banner photo: shutterstock
