PT PLN Indonesia Power Renewables

What PT PLN Indonesia Power Renewables does

PT PLN Indonesia Power Renewables (PLN IPRen) is the dedicated investment holding company of PT PLN Indonesia Power Group, itself a subsidiary of Indonesia's state-owned electricity utility PT PLN (Persero). Founded on 20 December 2013 as PT Putra Indotenaga and rebranded on 3 August 2023 under PLN Indonesia Power's Transformation 2.0 initiative, the company holds Unrestricted Company status, granting it structural autonomy in project financing and joint venture structuring. Its principal activity is developing power generation investments through participating interests and equity stakes in special purpose companies and joint ventures, with a managed portfolio totaling approximately 2,247 MW across coal, hydro, geothermal, and solar generation.

The company's technology portfolio spans Ultra Super Critical coal-fired generation (PLTU Jawa 9 & 10 at 2x1,000 MW), run-of-river hydroelectric (Rajamandala 47 MW; planned Minahasa), floating solar PV deployments at reservoir surfaces (Saguling and Singkarak), rooftop solar EPC services via PLN Indonesia Geothermal, and upstream solar PV manufacturing through PT Trina Mas Agra Indonesia using TOPCon technology at 28.7% panel efficiency. PLN IPRen typically holds 25% to 96.04% equity in its subsidiaries and JVCs, with international partners including Trina Solar, ACWA Power, KPIC Netherlands, Taicang Harbour Golden Concord, and Brantas Energi.

The business model is investment-driven rather than product-driven. PLN IPRen generates returns through dividend income and equity participation in operating power plants, with all revenue effectively routed via the PLN Group single-buyer offtake structure and the Java-Bali grid interconnection. Total disclosed investment is approximately Rp 7.5 trillion across the portfolio. FY2020 net profit stood at Rp 167.43 billion; no post-2020 revenue or profitability data is publicly disclosed. The customer base is structurally limited to PLN Group entities, reflecting PLN IPRen's role as a captive investment vehicle executing Indonesia's energy transition and supporting Net Zero Emission targets by 2060.

Name

PT PLN Indonesia Power Renewables

Legal name

PT PLN Indonesia Power Renewables

Website

https://plnindonesiapowerrenewables.co.id

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

PT PLN Indonesia Power Renewables is the dedicated investment holding company of Indonesia's state-owned PLN Group, holding equity stakes in coal, hydro, geothermal, and solar power projects totaling 2,247 MW across Indonesia.

Ownership category

akta.pro rank

Product category

Power Generation Investment & Renewable Energy Utilities

NAICS

Solar Electric Power Generation (221114), Hydroelectric Power Generation (221111), Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Electric, Gas & Sanitary Services (4900), Electric Services (4911)

akta.pro primary industry

Renewable Energy Infrastructure (FSAAAKAG)

akta.pro secondary industries

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)

Keywords

• Power plant investment
• Renewable energy generation
• Project financing utilities
• Coal and hydro generation
• Solar PV manufacturing

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Investment in Power Plant Projects: PLN IPRen develops and invests in power plant projects through participating interest and equity stakes in special purpose companies (SPCs/JVCs). Revenue is generated through dividends and returns from these investments in coal, hydro, geothermal, and solar power projects across Indonesia.
2. Investment Returns and Dividends: The company recorded net profit of Rp167.43 billion for fiscal year 2020 and total investment of Rp2.9 trillion. Returns are generated through ownership stakes in operating power plants.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

PT PLN Indonesia Power Renewables develops and manages equity investments in power generation projects across Indonesia, including coal-fired (Ultra Super Critical), hydroelectric (run-of-river), floating solar PV, rooftop solar PV, geothermal, and solar PV manufacturing assets. The company structures participating-interest investments and joint venture project financing arrangements for utility-scale generation assets and sells/manages electricity generation through its portfolio companies totaling 2,247 MW of managed capacity.

Product overview

PT PLN Indonesia Power Renewables operates as an unrestricted subsidiary of PT PLN Indonesia Power, managing a diversified portfolio of power generation investments totaling 2,247 MW capacity. The company manages coal-fired power plants (PLTU Jawa 9 & 10 at 2,000 MW and PLTU Kalbar 1 at 200 MW), hydroelectric plants (Rajamandala 47 MW and Minahasa Brantas Energi), floating solar projects (Saguling and Singkarak), and solar PV manufacturing through Trina Mas Agra Indonesia. The portfolio also includes PLN Indonesia Geothermal for solar development and rooftop PV services. Total investment portfolio is approximately Rp 7.5 trillion.

Differentiator

Problem solved

Functional benefit

Products and services

• PT Indo Raya Tenaga (IRT) - PLTU Jawa 9 & 10 Power Plant Operates a 2 x 1,000 MW Ultra Super Critical coal-fired power plant (PLTU Jawa 9 & 10) in Suralaya, Banten, equipped with Selective Catalytic Reduction (SCR) technology. PLN IPRen holds 51% ownership; operations commenced in 2025.
• PT GCL Indo Tenaga (GCL IT) - PLTU Kalbar 1 Power Plant Operates a 2 x 100 MW coal-fired power plant (PLTU Kalbar 1) in Kabupaten Bengkayang, West Kalimantan, achieving commercial operation in June 2021. PLN IPRen holds 35% ownership alongside Taicang Harbour Golden Concord Electric Power Generation Co. Ltd.
• PT Rajamandala Electric Power (REP) - Rajamandala Hydroelectric Plant Operates a 1 x 47 MW run-of-river hydroelectric power plant (PLTA Rajamandala) in Kabupaten Rajamandala, West Java, operating since 2019. PLN IPRen holds 51% ownership alongside PT KPIC Netherlands BV; first JVC in PLN Group using project financing for hydropower.
• PLN Indonesia Geothermal - Rooftop and Renewable Solar Services Subsidiary focused on new renewable energy (EBT) development, particularly solar power plants (PLTS) and rooftop solar PV. Provides Engineering, Procurement, and Construction (EPC) services and leasing for rooftop solar PV installations. PLN IPRen holds 96.04% ownership alongside YPK PLN Indonesia Power.
• PT Trina Mas Agra Indonesia (TMAI) - Solar PV Manufacturing Solar PV panel and cell manufacturing company established in 2023 in Kendal, Central Java, using TOPCon technology with up to 28.7% panel efficiency. Aims for 1 GW/year production capacity and achieves 44.11% TKDN (local content requirement). PLN IPRen holds 25% stake alongside Trina Dian Agra Energi.
• PT Minahasa Brantas Energi (MBE) - Minahasa Hydroelectric Project Acquired in 2024 to develop a hydroelectric power plant (PLTA) in South Minahasa, North Sulawesi. PLN IPRen holds 51% ownership alongside Brantas Energi.
• PT Indo ACWA Tenaga Saguling - Saguling Floating Solar Project Develops a floating solar PV (PLTS Terapung) power plant at Waduk Saguling, West Java, acquired in 2024. PLN IPRen holds 51% ownership in partnership with ACWA Power Indonesia Saguling Hold Co. Target commercial operation date (COD) is 2026.
• PT Indo ACWA Tenaga Singkarak - Singkarak Floating Solar Project Develops a floating solar PV power plant at Danau Singkarak, Tanah Datar, West Sumatra, acquired in 2024. PLN IPRen holds 51% ownership in partnership with ACWA Power Indonesia Singkarak Hold Co.

Quantifiable outcome

• Total managed generation capacity of 2,247 MW across coal, hydro, and solar assets
• +4 more outcomes

Named customers2 records

Segments2 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

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

• PT Indo Raya Tenaga (IRT)coreStrategic or Co-development PartnerPT Indo Raya Tenaga operates PLTU Jawa 9 & 10 (2 x 1,000 MW Ultra Super Critical) in Suralaya, Banten. PLN IPRen holds 51% ownership. The company was established in 2017 and began operations in 2025, contributing to national strategic energy supply.
• PT GCL Indo Tenaga (GCL IT)coreStrategic or Co-development PartnerPT GCL Indo Tenaga operates PLTU 2 x 100 MW in Bengkayang, West Kalimantan, operating since 2021. PLN IPRen holds 35% ownership alongside Taicang Harbour Golden Concord Electric Power Generation Co. Ltd. Contributes significantly to West Kalimantan energy needs.
• PT Trina Mas Agra Indonesia (TMAI)coreStrategic or Co-development PartnerTMAI is a solar panel manufacturing company established in 2023 in Kendal, Central Java. PLN IPRen holds 25% stake with Trina Dian Agra Energi as the main strategic partner. Uses TOPCon technology achieving 28.7% efficiency. TMAI aims for 1 GW/year production capacity and supports domestic solar PV industry with TKDN of 44.11%.
• PT PLN Indonesia Geothermal (PLN IGeo)coreStrategic or Co-development PartnerFormerly PT Indo Tenaga Hijau, acquired in 2019, now renamed PLN Indonesia Geothermal. Located in South Jakarta, focuses on renewable energy development including PLTS and rooftop solar PV. PLN IPRen holds 96.04% stake alongside YPK PLN Indonesia Power. Provides EPC services and leasing for rooftop solar PV.
• PT Rajamandala Electric Power (REP)coreStrategic or Co-development PartnerREP operates PLTA 1 x 47 MW in Rajamandala, West Java, operating since 2019. REP was established in 2012 and acquired by PLN IPRen since 2014. PLN IPRen holds 51% alongside PT KPIC Netherlands BV. REP was the first JVC in PLN Group using project financing scheme for hydro power.
• PT Minahasa Brantas Energi (MBE)majorStrategic or Co-development PartnerPT Minahasa Brantas Energi was acquired in 2024 to develop PLTA in South Minahasa, North Sulawesi. PLN IPRen holds 51% ownership alongside Brantas Energi. Expected to strengthen clean energy supply in North Sulawesi region.
• PT Indo ACWA Tenaga Saguling (IAT Saguling)majorStrategic or Co-development PartnerIAT Saguling focuses on floating solar PV (PLTS Terapung) at Waduk Saguling, West Java. Acquired in 2024 with PLN IPRen holding 51% alongside ACWA Power Indonesia Saguling Hold Co. Target COD 2026. Represents innovation in renewable energy using water reservoir surfaces.
• PT Indo ACWA Tenaga Singkarak (IAT Singkarak)majorStrategic or Co-development PartnerIAT Singkarak focuses on floating solar PV at Danau Singkarak, Tanah Datar, West Sumatra. Acquired in 2024 with PLN IPRen holding 51% alongside ACWA Power Indonesia Singkarak Hold Co. Expands solar energy utilization through floating technology.
• Trina Solar Co. Ltd.coreTechnology or IntegrationTrina Solar is a global pioneer in solar panel manufacturing that co-founded PT Trina Dian Agra Energi. Through TMAI joint venture, provides TOPCon solar technology enabling 28.7% panel efficiency. Also signed financing agreement with Bank Mandiri in August 2024 for solar cell/panel factory development.
• PT Dian Swastatika SentosamajorStrategic or Co-development PartnerPart of Sinarmas Group, PT Dian Swastatika Sentosa co-founded PT Trina Dian Agra Energi together with Trina Solar and PT Agra Surya Energy. Supports the solar manufacturing joint venture for domestic panel production.
• PT Agra Surya EnergymajorStrategic or Co-development PartnerCo-founder of PT Trina Dian Agra Energi for solar cell and panel manufacturing joint venture with Trina Solar and Sinarmas Group.
• ACWA Power IndonesiamajorStrategic or Co-development PartnerACWA Power Indonesia is the partner for floating solar PV projects at Waduk Saguling and Danau Singkarak, through IAT Saguling Hold Co. and IAT Singkarak Hold Co. respectively. Both projects target floating solar installations to expand renewable energy capacity.
• Brantas EnergimajorStrategic or Co-development PartnerBrantas Energi is the partner for PT Minahasa Brantas Energi (MBE), collaborating on PLTA development in South Minahasa, North Sulawesi.
• Taicang Harbour Golden Concord Electric Power Generation Co. Ltd.majorStrategic or Co-development PartnerChinese joint venture partner in GCL Indo Tenaga, holding 65% stake alongside PLN IPRen's 35%. Contributes international expertise in coal-fired power generation for West Kalimantan project.
• PT KPIC Netherlands BVmajorStrategic or Co-development PartnerInternational joint venture partner holding 49% stake in PT Rajamandala Electric Power (REP), alongside PLN IPRen's 51%. REP operates the Rajamandala hydroelectric power plant in West Java.
• YPK PLN Indonesia PowerminorStrategic or Co-development PartnerYPK PLN Indonesia Power holds a minority stake alongside PLN IPRen's 96.04% in PLN Indonesia Geothermal, supporting geothermal and solar PV development.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• PT PLN Indonesia Power: Direct parent and sister-generation subsidiary of PLN Group operating a much larger portfolio of conventional and renewable power assets; the closest direct comparable as an Indonesian state-affiliated power generation holding vehicle with PLN offtake.
• PT Pertamina Geothermal Energy: Indonesia's largest geothermal IPP, state-affiliated and listed; directly comparable as an Indonesian renewable energy developer/operator dependent on PLN offtake with similar multi-technology expansion plans.
• Star Energy Geothermal: Indonesian geothermal IPP selling power into the PLN grid under long-term offtake; directly comparable as a renewable energy developer/operator using project finance structures in Indonesia and one of PLN IGeo's indirect competitors.
• PT Pembangkitan Jawa-Bali: Indonesian state-affiliated power generation SOE focused on the Java-Bali grid; comparable as a PLN Group-aligned power generation operator and IPP with overlapping geographic and customer exposure.
• PT Geo Dipa Energi: Indonesian state-owned geothermal IPP jointly owned by PLN IP-related entities and Pertamina; directly comparable as a PLN Group-adjacent renewable energy developer with equity and JV structuring in Indonesia.

Others

• Trina Solar: Global Tier-1 solar PV manufacturer and PLN IPRen JV partner via TMAI; not a direct competitor but the upstream module supplier and strategic co-investor enabling TMAI's 1 GW/year TOPCon capacity in Indonesia.

Broad incumbents

• Engie: Global utility and renewable energy developer with international IPP operations; broadly comparable as a large incumbent actively transitioning from conventional to renewable generation under decarbonization mandates.
• PT PLN (Persero): State-owned national electricity utility and ultimate parent of PLN Indonesia Power and PLN IPRen; comparable as the dominant Indonesian grid operator and offtake counterparty shaping all IPP economics across PLN IPRen's portfolio.
• AES Corporation: US-listed global IPP and renewable energy developer with a multi-technology generation portfolio; broadly comparable at scale as a publicly traded utility-scale renewable investor transitioning from conventional to renewable assets.

Emerging players

• ACWA Power: Saudi-listed international renewable and thermal IPP and PLN IPRen's JV partner on Saguling and Singkarak floating solar; comparable as a multi-technology renewable energy investor/developer using JV models and project finance in emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCq0YJYIl3_iC_9AWcoUN18w
• Facebookfacebook.com/putraindotenaga
• Instagraminstagram.com/plniprenewables
• LinkedInlinkedin.com/company/pt-pln-indonesia-power-renewables

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries8 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 PT PLN Indonesia Power Renewables