PLN Nusantara Renewables

What PLN Nusantara Renewables does

PT PLN Nusantara Renewables (PLN NR) is a Jakarta-headquartered, state-owned independent power producer (IPP) developer and investment holding company operating as an unrestricted subsidiary of PLN Nusantara Power within the PLN Group, Indonesia's state electricity enterprise. The company develops, constructs, and operates new and renewable energy (NRE) power generation assets across Indonesia, holding a 3,210 MW diversified portfolio as of June 2024 spanning floating solar PV (Cirata 145 MWac/192 MWp — Southeast Asia's largest; Karangkates 100 MWac; Tembesi 35 MWac/46 MWp), hydroelectric (Batang Toru 510 MW peak-shaving plant), onshore wind (Tanah Laut 70 MW with 10 MW/10 MWh BESS), ground-mounted solar (IKN 50 MW for the Nusantara Capital City), and ultra-supercritical coal-fired capacity (Jawa 7 2x1,050 MW, Sumbagsel 1 2x150 MW).

PLN NR's revenue model operates through two parallel streams: (a) long-term Power Purchase Agreements (PPAs/PJBTL) of 20–25 years with PLN Group as the sole offtaker, with electricity dispatched through PLN's national transmission grid, and (b) equity participation in joint venture companies that own and operate the generation assets — PLN NR holds 51% in three core subsidiaries (PMSE for Cirata, NSSE for IKN, NTBE for Tembesi) and minority stakes in affiliated entities (SGPJB 30%, GHPJB 30%, NSHE 25%, SSPewali 10%). The company monetizes these positions through dividends and operating revenue pass-throughs, generating Rp 776.75 billion in audited FY2023 revenue, supplemented by management fees and project development returns.

The company's core technological capabilities are concentrated in challenging-environment floating solar PV deployment (200 hectares at Cirata, depths up to 100 meters, slopes up to 45 degrees, over 340,000 bifacial panels), Ultra-Supercritical boiler efficiency (15% improvement over non-USC plants), and BESS integration for intermittent renewables. PLN NR serves exclusively institutional/governmental customers — PLN Group as offtaker and the Government of Indonesia as project assignor through National Strategic Project designations — with all project development conducted through shareholder assignments, bilateral government collaborations (notably the Indonesia-UAE partnership for Cirata via Masdar), and strategic co-development partnerships with international energy companies including Masdar, Total Eren, Adaro Power, GD Power Hong Kong, SembCorp, and China Shenhua.

Name

PLN Nusantara Renewables

Legal name

PT PLN Nusantara Renewables

Website

https://ptplnnr.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

PLN Nusantara Renewables is a state-owned Indonesian IPP developer and investment holding company under PLN Group, operating a 3,210 MW portfolio of renewable and new energy power generation assets — including floating solar PV, hydro, wind, and solar PV — and selling electricity exclusively to PLN under long-term PPAs.

Ownership category

akta.pro rank

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Technology or R&D, Operations

Revenue model

1. Power Generation and Sale (IPP Model): PLN NR develops, constructs, and operates power generation facilities as an Independent Power Producer (IPP). Revenue is generated through long-term Power Purchase Agreements (PPAs/PJBTL) with PLN as the primary offtaker, selling both capacity and electrical energy. The company also receives dividends from joint venture companies (JVCs) and manages investments across its eight subsidiary and affiliated companies.
2. Investment Management and Portfolio Returns: As a sustainable investment company under PLN Group, PLN NR generates returns through equity investments in power projects (e.g., 30% stake in SGPJB for Jawa 7 CFPP, 51% in PMSE for Cirata, 51% in NSSE for IKN, 51% in NTBE for Tembesi). The company collects dividends from these JVCs — in 2022, PJBI received Rp 107.4 billion in first dividends from Jawa 7 CFPP and contributed operating revenues of Rp 718.32B (SGPJB) and Rp 103.75B (NSHE for Batang Toru HPP).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

PLN Nusantara Renewables develops, constructs, and operates power generation facilities as an Independent Power Producer (IPP), with a diversified portfolio including floating solar PV, hydroelectric, wind power, and coal-fired power plants totaling 3,210 MW across Indonesia. The company sells electricity to PLN (Perum Lembaga Listrik Negara) under long-term Power Purchase Agreements (PPAs/PJBTL) and manages investments across three majority-owned subsidiaries (PMSE, NSSE, NTBE) and five affiliated joint venture companies. Its portfolio includes landmark projects such as the Cirata Floating PV (145 MWac/192 MWp), the largest floating solar plant in Southeast Asia, and the Jawa 7 CFPP using Ultra-Supercritical technology.

Product overview

PLN Nusantara Renewables is the leading subsidiary of PLN Group developing new and renewable energy (NRE)-based electricity ecosystem. The company operates a diversified portfolio of power generation assets including floating solar PV plants (Cirata 145 MWac, Karangkates 100 MWac, Tembesi 35 MWac), hydroelectric (Batang Toru 510 MW), wind (Tanah Laut 70 MW), solar PV (IKN 50 MW), and coal-fired plants (Jawa 7 2,100 MW, Sumbagsel 1 300 MW). As of June 2024, total capacity stands at 3,210 MW with 2,145 MW operational, 895 MW under construction, and 170 MW in development. The company has established eight companies including three subsidiaries: PT PMSE (Cirata), PT NSSE (IKN), and PT NTBE (Tembesi).

Differentiator

Problem solved

Functional benefit

Products and services

• Cirata Floating PV Power Plant A 145 MWac/192 MWp floating solar photovoltaic power plant located at Cirata Reservoir in West Java, covering 200 hectares with over 340,000 solar panels at depths up to 100 meters. Inaugurated on November 9, 2023, it is the largest floating solar plant in Southeast Asia and the third largest globally, producing 267 GWh of green electricity between commercial operation date (November 13, 2023) and November 2024, and avoiding 214,000 tons of CO2 annually.
• Karangkates Floating Solar Power Plant A 100 MWac floating solar power plant located at Sutami Dam, Malang Regency, East Java. Developed in collaboration with GD Power Hong Kong Co., Ltd. and Perum Jasa Tirta I, with an LoI signed on August 13, 2024 and EPC tender announced. The project targets commercial operation in 2025.
• Tembesi Floating Solar PV Power Plant A 35 MWac/46 MWp floating solar power plant at Tembesi Reservoir, Saguling District, Batam City, Riau Islands. Developed under PT Nusantara Tembesi Baru Energi (NTBE), a JV with PT TBS Energi Utama Tbk, utilizing bifacial solar panels that increase energy output by up to 30%. Targeted commercial operation in 2025 to supply clean energy to Batam's industrial zone via the 20 kV Panaran substation.
• Batang Toru Hydroelectric Power Plant A 510 MW peak-shaving hydroelectric power plant in North Sumatra with water consumption of 0.24 liters per kWh. Operated under PT North Sumatra Hydro Energy (NSHE), a PLN NR affiliated company. Targeted for commercial operation in 2026 to directly support Sumatra's electrical system and contribute to Indonesia's renewable energy utilization.
• Tanah Laut Wind Power Plant A 70 MW wind power plant in South Kalimantan, including a 10 MW/10 MWh Battery Energy Storage System to manage wind intermittency. The first wind power plant in Kalimantan and third in Indonesia. Developed by PLN NR (30%) with Total Eren and Adaro Power (70%) via the PT Tala Alam Baru JV (PT BELL consortium). IFC provides financial support.
• IKN Solar PV Power Plant A 50 MW solar power plant supplying green energy to Indonesia's planned Nusantara Capital City (IKN), divided into a 10 MW Phase 1 (built through PLN Nusantara Power subsidiaries) and a 40 MW Phase 2 (developed by PT Nusantara Sembcorp Solar Energi, a JV with SembCorp Utilities). Located 5 km from KIPP IKN at the highest-irradiation point. Projected to produce 92.8 GWh annually and reduce 104,864 tons of CO2 emissions.
• Jawa 7 Coal-Fired Power Plant (CFPP) A 2 x 1,050 MW coal-fired power plant utilizing Ultra-Supercritical boiler technology with low-calorie coal, achieving 15% efficiency improvement over non-USC plants. First and largest PLTU in Indonesia using USC technology. PLN NR holds 30% equity in PT Shenhua Guohua Pembangkitan Jawa Bali (SGPJB) and 30% in PT Guohua Taidian Pembangkitan Jawa Bali (GHPJB). Produced 12.63 TWh of electricity in 2023.
• Sumbagsel 1 Mine Mouth Coal-Fired Power Plant A 2 x 150 MW mine-mouth coal-fired power plant in South Sumatra developed to support government programs leveraging local resources to accommodate the South Sumatra electrical system. PLN NR holds minority equity via PT Sumbagsel Energi Sakti (SSPewali). Targeted commercial operation in 2026.

Quantifiable outcome

• 267 GWh of green electricity produced from Cirata Floating PV since commercial operation (Nov 13, 2023 to Nov 2024)
• +6 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered minor, major and core.

• Shaf FoundationminorOthers · 9 December 2024PLN NR partnered with Shaf Foundation, an NGO focused on clean water access for mosques and Islamic boarding schools across Indonesia, to drill a water well at Quratul'Ain Al Ash'Ary Islamic Boarding School near Cirata Floating PV. Drilling completed November 14, 2024 at 56 meters depth, providing clean water to hundreds of surrounding families.
• Purwakarta 0619 Military Region Command (Kodam III/Siliwangi)minorStrategic or Co-development Partner · 4 October 2024PLN NR collaborates with the Indonesian Armed Forces' Purwakarta 0619 Military Region Command and PT PMSE for community welfare and environmental activities around the Cirata area. Activities include tree planting (320 saplings of various species), mass health services, mass circumcision, and distribution of necessities, marking a continued strategic partnership established since 2021.
• GD Power Hong Kong Co., Ltd. (Hong Kong Guodian Power Overseas Investment Company Limited)majorStrategic or Co-development Partner · 13 August 2024PLN NR and GD Power Hong Kong formed the NR-GDHK Consortium for the Karangkates Floating Solar Power Plant (100 MWac) at Sutami Dam, Malang Regency, East Java. An LoI was signed on August 13, 2024, with EPC tender announced for the project targeting 2025 commercial operation. Perum Jasa Tirta I is also a partner for this project.
• Perum Jasa Tirta ImajorStrategic or Co-development Partner · 13 August 2024Perum Jasa Tirta I collaborates with PLN NR and GD Power Hong Kong for the Karangkates Floating Solar Power Plant (100 MWac) located at the Sutami Dam. Perum Jasa Tirta I manages the dam infrastructure that hosts the floating solar project.
• Total ErencoreStrategic or Co-development Partner · 5 July 2024Total Eren partnered with PLN NR and Adaro Power for the development of the Tanah Laut Wind Power Plant (70 MW with 10 MW/10 MWh BESS) in South Kalimantan. Total Eren is part of the PT Bayu Energi Listrik Lestari (PT BELL) consortium holding 70% of the JV company PT Tala Alam Baru, with PLN NR holding 30%. The project is the first wind power plant in Kalimantan and third in Indonesia.
• Adaro PowercoreStrategic or Co-development Partner · 5 July 2024Adaro Power collaborated with PLN NR and Total Eren for the Tanah Laut Wind Power Plant (70 MW) in South Kalimantan via the PT Tala Alam Baru joint venture (PT BELL consortium 70%, PLN NR 30%). Adaro Power contributes local expertise and investment, supporting Indonesia's renewable energy and net-zero emission targets.
• PT TBS Energi Utama Tbk (TOBA)coreStrategic or Co-development Partner · 12 February 2024PLN NR partners with TBS Energi Utama for the Tembesi Floating Solar Power Plant (35 MWac/46 MWp) at Tembesi Reservoir, Batam. The joint venture PT Nusantara Tembesi Baru Energi (NTBE) is 51% owned by PLN NR and 49% by PT Batam Tirta Surya (a TBS subsidiary). The project targets 2025 commercial operation to supply clean energy to Batam's industrial zone.
• SembCorp Utilities Pte. Ltd.coreStrategic or Co-development Partner · 2 November 2023PLN NR formed a joint venture PT Nusantara Sembcorp Solar Energi (NSSE) with SembCorp Utilities for the IKN 50 MW Solar Power Plant. PLN NR holds 51% and SembCorp holds 49%. NSSE is developing the 40 MW second phase of the IKN Solar PV project, contributing international knowledge and technology transfer to Indonesia's renewable energy sector.
• Masdar (Abu Dhabi Future Energy Company PJSC)coreStrategic or Co-development Partner · 20 July 2023PLN NR's subsidiary PT PMSE is a joint venture between PLN NR (51%) and Masdar. Masdar partnered with PLN Group for the development of the 145 MWac/192 MWp Cirata Floating PV Power Plant — a National Strategic Project and the largest floating solar in Southeast Asia, inaugurated by President Joko Widodo on November 9, 2023. A Joint Development Study Agreement was subsequently signed between PLN Nusantara Power and Masdar to explore expanding Cirata's capacity (currently only 4% of reservoir used, up to 20% permitted). Masdar also invited PJBI to the 2023 Abu Dhabi Sustainability Week.
• China Shenhua Energy Company, Ltd. (China Energy / China Shenhua Group)coreStrategic or Co-development Partner · 1 January 2016China Shenhua partnered with PJBI (predecessor to PLN NR) as the majority shareholder (70%) in PT Shenhua Guohua Pembangkitan Jawa Bali (SGPJB) and PT Guohua Taidian Pembangkitan Jawa Bali (GHPJB) for the Jawa 7 CFPP (2x1,050 MW). PLN NR holds 30% in SGPJB and 30% in GHPJB. The plant commenced operation in 2019 using Ultra-Supercritical technology.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Market position

Weaknesses5 records

Competitive moat5 records

Customer concentration

• Facebookfacebook.com/PLNNusantaraRenewables
• LinkedInlinkedin.com/company/ptplnnr

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PLN Nusantara Renewables