Arkora Hydro

What Arkora Hydro does

Arkora Hydro (PT Arkora Hydro Tbk, IDX: ARKO) is an Indonesian renewable energy developer-operator that builds and runs small-to-medium scale run-of-river hydroelectric power plants and sells the generated electricity exclusively to PT PLN (Perusahaan Listrik Negara), the state-owned utility, under 25-year BOOT (Build Own Operate Transfer) Power Purchase Agreements. The company was founded in 2010, headquartered in Jakarta, and is a subsidiary of Astra Group (PT United Tractors Tbk). Its core technology consists of low-environmental-impact run-of-river schemes - weir/dam, sediment catchment, open channel, penstock, and turbine house - using Pelton and Francis turbines sourced from international manufacturers (Wasserkraft Volk AG, Voith, Flovel), with project net heads of 95-264 meters and flow rates of 3.2-11.9 m³/s.

The asset base comprises six projects totaling 62.8 MW of contracted installed capacity: three operational (Cikopo 7.4 MW in West Java operating since 2017, Tomasa 10 MW in Central Sulawesi since 2019, and Yaentu 10 MW in Central Sulawesi since October 2024), two in construction (Kukusan II 5.4 MW in Lampung, expected 2025; Tomoni 10 MW in South Sulawesi, expected 2026), and one announced (Pongbembe 20 MW in South Sulawesi). Investment costs of US$1.65-1.75M/MW (versus an industry benchmark of US$2.2-2.5M/MW) are enabled by in-house feasibility work through subsidiary PT Granif Konsultan. A pipeline of more than 300 MW is in earlier-stage development across Sumatra, Java, Kalimantan, and Sulawesi.

Arkora generates revenue through long-dated, PLN-backed electricity sales with no fuel cost exposure, producing predictable 25-year cash flows per project and a 25.9% net profit margin in H1 2025. FY2024 revenue was IDR 238.9 billion and H1 2025 reached IDR 142.5 billion (+42.1% YoY). The company funds expansion through operating cash, Indonesia Infrastructure Finance (IIF) loans, and a 2023 green bond issuance, with policy-aligned ESG positioning to Indonesia's Net Zero Emission target by 2060.

Name

Arkora Hydro

Legal name

PT Arkora Hydro Tbk

Website

https://arkora-hydro.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Arkora Hydro (PT Arkora Hydro Tbk, IDX: ARKO) is an Indonesian run-of-river hydropower developer-operator that builds and operates small-to-medium hydroelectric plants, selling 100% of generated electricity to state utility PT PLN under 25-year BOOT Power Purchase Agreements.

Ownership category

akta.pro rank

Product category

Hydropower Generation

NAICS

Hydroelectric Power Generation (221111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Hydropower EPC & Civil Construction (Dams, Weirs, Tunnels, Penstocks) (EUAMADAB)

akta.pro secondary industries

Hydropower Project Development & Permitting (Greenfield, Licensing, Water Rights) (EUAMADAA), Hydropower Operations, Maintenance & Asset Management (O&M, Spares, Performance) (EUAMADAE)

Keywords

• Run-of-river hydropower
• Renewable energy generation
• Hydroelectric power plants
• Power purchase agreements
• Clean energy infrastructure

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Electricity Sales via PPA: Arkora Hydro generates revenue by selling electricity produced from its hydropower plants to PT PLN (Perusahaan Listrik Negara), Indonesia's state-owned electricity company. Revenue is secured through 25-year Power Purchase Agreements (PPAs) under a BOOT (Build Own Operate Transfer) scheme. The company has no fuel costs and benefits from relatively low operating costs, resulting in good gross margins. Cash flow is stable and predictable as PLN is the sole off-taker.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Arkora Hydro develops, owns, and operates small-to-medium-scale run-of-river hydroelectric power plants across Indonesia, selling all generated electricity to the state-owned utility PT PLN (Perusahaan Listrik Negara) under 25-year Build-Own-Operate-Transfer (BOOT) Power Purchase Agreements. The portfolio includes six projects totaling 62.8 MW contracted installed capacity and a development pipeline exceeding 300 MW, using Pelton and Francis turbines supplied by Wasserkraft Volk AG, Voith, and Flovel. The company also provides in-house feasibility studies and consulting through its subsidiary PT Granif Konsultan.

Product overview

Arkora Hydro is a hydropower company that develops, builds, and operates run-of-river hydroelectric power plants across Indonesia. The company's core product portfolio consists of six hydropower projects: three operational plants (Cikopo at 7.4 MW, Tomasa at 10 MW, and Yaentu at 10 MW) and three under development (Kukusan II at 5.4 MW, Tomoni at 10 MW, and Pongbembe at 20 MW). All projects utilize run-of-river technology and sell electricity to PT PLN (Persero) under long-term power purchase agreements. The company also provides consulting services through its subsidiary PT Granif Konsultan. Currently, Arkora Hydro has 62.8 MW of contracted installed capacity with a development pipeline exceeding 300 MW.

Differentiator

Problem solved

Functional benefit

Products and services

• Project Cikopo (7.4 MW run-of-river hydropower plant) 7.4 MW operating run-of-river hydropower plant in Garut, West Java, selling electricity to PT PLN under a 25-year BOOT PPA since March 2017; uses two vertical Pelton turbines from Wasserkraft Volk AG with a 264m net head and approximately 3.2 m³/second flow, delivering an estimated 52,000 MWh per year.
• Project Tomasa (10 MW run-of-river hydropower plant) 10 MW operating run-of-river hydropower plant in Poso, Central Sulawesi, selling electricity to PT PLN under a 25-year BOOT PPA since October 2019; uses two Voith horizontal Pelton turbines with up to 258m net head and 4.5 m³/second flow, delivering approximately 63,072 MWh annually.
• Project Yaentu (10 MW run-of-river hydropower plant) 10 MW operating run-of-river hydropower plant in Poso, Central Sulawesi, selling electricity to PT PLN under a 25-year BOOT PPA since October 2024; uses two Voith horizontal Francis turbines with 165m net head and 7.2 m³/second flow, operating 24 hours/day to deliver an estimated 63,011 MWh annually.
• Project Kukusan II (5.4 MW run-of-river hydropower plant) 5.4 MW run-of-river hydropower plant in Tanggamus, Lampung, under construction since 2022 with planned COD in 2025; selling electricity to PT PLN under a 25-year BOOT PPA, equipped with two horizontal Francis turbines and expected to deliver approximately 35,054 MWh per year.
• Project Tomoni (10 MW run-of-river hydropower plant) 10 MW run-of-river hydropower plant in Luwu Timur, South Sulawesi, under construction since 2024 with expected COD in 2026; selling electricity to PT PLN under a 25-year BOOT PPA, equipped with two Flovel horizontal Francis turbines with estimated annual output of 56,940 MWh.
• Project Pongbembe (20 MW run-of-river hydropower plant) 20 MW run-of-river hydropower plant in Tana Toraja, South Sulawesi—the largest project in Arkora Hydro's portfolio—with a 25-year BOOT PPA signed with PLN in December 2024; construction underway, while turbine type and manufacturer are not yet specified.
• PT Granif Konsultan (hydropower feasibility studies and consulting) In-house consulting subsidiary of Arkora Hydro that conducts feasibility studies and comprehensive testing for hydropower projects, supporting competitive construction and operational costs below industry average.

Quantifiable outcome

• CO₂eq emission reduction of ~99,937 tons per year once Kukusan and Tomoni projects become operational
• +5 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• PT PLN (Perusahaan Listrik Negara)coreStrategic or Co-development PartnerPLN is the sole electricity off-taker for all Arkora Hydro projects. Long-term Power Purchase Agreements (PPAs) of 25 years under BOOT scheme secure revenue streams. The partnership integrates Arkora's clean hydropower into Indonesia's national electricity grid. Recent PPA signed with PLN subsidiary PT Arkora Hydro Malili for a 10 MW minihydro project in South Sulawesi.
• PT Merah Putih IndonesiaminorOthersSupporting entity of PT Arkora Hydro TbK located at Jalan Merdeka 90, Jakarta Selatan. Provides governance and administrative support functions.
• Kantor Akuntan Publik Liana Ramon Xenia & RekanminorOthersPublic accounting firm recommended by the Audit Committee and registered with Otoritas Jasa Keuangan for auditing Arkora Hydro's financial information for fiscal year 2024.

Scale indicators10 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• NHPC Limited: India's state-owned hydropower developer operating multiple small-to-large hydro plants under long-term PPAs with state utilities. Comparable in regulated PPA model, hydro EPC plus operations, and renewable transition mandate.
• Celsia S.A. Colombian renewable energy IPP operating hydro, wind, and solar assets under long-term PPAs in Latin America. Comparable in mid-cap renewable IPP profile, hydro exposure, and contracted-revenue model.
• Innergex Renewable Energy: Canadian independent renewable power producer with a portfolio of small hydro, wind, and solar assets under long-term PPAs. Closely mirrors Arkora's run-of-river small hydro focus and growth-via-pipeline development model.
• SN Aboitiz Power Group: Philippine-based hydropower and renewable IPP selling electricity under long-term contracts to a national grid operator. Closely comparable in business model: small-to-mid hydro generation with bilateral offtake and focus on Southeast Asian clean energy supply.

Regional players

• Sarawak Energy Berhad: Malaysian state-linked utility with significant hydropower generation serving Sarawak and exporting to neighboring grids. Comparable as a regional Southeast Asian hydro operator with long-dated PPAs and government-linked offtake.
• First Gen Corporation: Philippine-listed IPP operating hydro, geothermal, and natural gas plants under long-term PPAs. Comparable as a regional Southeast Asian independent power producer selling into a regulated national grid.

Emerging players

• PT Geo Dipa Energi: Indonesian state-backed geothermal IPP selling electricity to PLN under long-term PPAs. Comparable as an Indonesian renewable IPP with the same sole off-taker (PLN) and regulated PPA structure, though focused on geothermal rather than hydro.

Broad incumbents

• Statkraft AS: Norwegian state-owned hydropower giant and Europe's largest renewable energy generator. Comparable as a hydropower-focused IPP, though at much larger scale and broader European footprint.
• Brookfield Renewable Partners: Global renewable IPP platform with significant hydroelectric capacity and long-term PPAs with utilities. Comparable operating model and PPA-backed cash flows, though with a much larger and more diversified portfolio.
• China Three Gorges Renewables: Chinese listed renewable IPP with substantial hydropower and wind/solar assets under long-term PPAs. Comparable in hydropower-heavy renewable IPP model and listed-company growth profile, though at materially larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@arkorahydro7120
• LinkedInlinkedin.com/company/arkora-hydro-pt
• Instagraminstagram.com/arkorahydro

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 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 Arkora Hydro