PT PJB Investasi

What PT PJB Investasi does

PT PLN Nusantara Renewables (PLN NR) is the designated renewable energy investment and development arm of Indonesia's state-owned PLN Group, operating as an unrestricted subsidiary of PLN Nusantara Power to develop independent power producer (IPP) assets. As of June 2024 the company manages a 3,210 MW portfolio across eight entities — three 51%-owned operating subsidiaries (PMSE for Cirata Floating Solar, NSSE for IKN Solar PV, NTBE for Tembesi Floating Solar) plus five affiliated companies — spanning floating solar PV (Cirata 145 MWac, Karangkates 100 MWac, Tembesi 35 MWac), hydropower (Batang Toru 510 MW), onshore wind (Tanah Laut 70 MW), dedicated solar PV for the new capital city (IKN 50 MW), and minority stakes in advanced coal-fired generation (Jawa 7 2x1,050 MW USC plant at 30% ownership; Sumbagsel 1 2x150 MW mine-mouth plant). The core technology stack includes floating solar PV systems on challenging dam/reservoir terrain, Ultra-Supercritical boiler technology with low-calorie coal, and standard hydro and wind generation equipment, with execution expertise developed through the Cirata reference project and a 1,400-strong trained installation workforce.

The business model is B2B electricity generation under long-term Power Purchase Agreements with PT PLN (Persero), the sole off-taker across the JAMALI and Sumatera grid systems. Revenue derives from selling generated kilowatt-hours at PPA tariffs (Jawa 7 disclosed at 4.2122 cent USD/kWh; renewable tariffs not publicly disclosed) plus shareholder-assigned projects serving government programs such as the Nusantara Capital City buildout and the national net-zero-by-2060 target. Go-to-market is enterprise field sales — direct bilateral deals with PLN, JV co-development with international energy majors (Masdar, SembCorp, China Shenhua, GD Power, Total Eren, Adaro Power, TBS Energi), and project assignments via General Meetings of Shareholders. Pricing is not publicly disclosed and follows PLN-administered tariff frameworks rather than market mechanisms.

PLN NR is functionally a state-owned development platform that combines a national strategic mandate (National Strategic Project designations on multiple assets), privileged offtake access through its PLN parent, and international co-development partnerships to scale Indonesia's renewable generation capacity. The company monetizes capacity additions rather than competing on price or service differentiation, with growth driven by government assignments, bilateral collaboration outcomes, and JV capital deployment rather than market-led demand capture.

Name

PT PJB Investasi

Legal name

PT PLN Nusantara Renewables

Website

https://pjbinvest.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

PT PLN Nusantara Renewables is the designated renewable energy investment and development subsidiary of Indonesia's state-owned PLN Group, operating a 3,210 MW portfolio of floating solar, hydro, wind, and advanced coal assets sold under long-term PPAs to PT PLN.

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Hydroelectric Power Generation (221111)

SIC

Electric Services (4911)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF), Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), Greenfield Site Origination & Land Acquisition (Leases, Easements, Title) (EUAMAAAA)

Keywords

• Renewable energy generation
• Floating solar power
• Hydropower generation
• Independent power production
• Power infrastructure investment

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Electricity Generation and Sales: PLN Nusantara Renewables generates revenue through operating power plants that produce electricity sold to the Indonesian national grid (PT PLN). The company operates as an Independent Power Producer (IPP) with flexible arrangements for developing and managing renewable energy assets.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Develops, invests in, and operates renewable and conventional power generation assets across Indonesia, including floating solar photovoltaic, hydropower, and wind power plants. The company operates as an Independent Power Producer (IPP) with a 3,210 MW portfolio across eight companies (three subsidiaries and five affiliated companies), supplying electricity to the Indonesian national grid through long-term Power Purchase Agreements with PT PLN. Six of the eight plants are renewable (solar, hydro, wind) while two are advanced coal-fired using Ultra-Supercritical technology.

Product overview

PT PLN Nusantara Renewables (NR) operates as the leading renewable energy investment and development subsidiary of PLN Group, offering a portfolio of power generation assets and independent power producer (IPP) development services. The company manages a 3,210 MW portfolio spanning eight companies — three majority-owned subsidiaries (PMSE, NSSE, NTBE) and five affiliated companies — covering floating solar PV plants (Cirata 145 MWac, Karangkates 100 MWac, Tembesi 35 MWac), hydropower (Batang Toru 510 MW), wind power (Tanah Laut 70 MW), solar PV (IKN 50 MW), and coal-fired assets (Jawa 7 2x1,050 MW, Sumbagsel 2x150 MW). The portfolio includes National Strategic Projects and international bilateral collaborations (e.g., Cirata with UAE).

Differentiator

Problem solved

Functional benefit

Products and services

• Cirata Floating PV Power Plant (PLTS Cirata) 145 MWac / 192 MWp floating solar power plant developed as a National Strategic Project and the result of bilateral collaboration between Indonesia and the United Arab Emirates. The largest floating solar plant in Southeast Asia and the third largest in the world. Has produced over 267 GWh of green electricity from November 2023 to November 2024 and is projected to avoid 214,000 tons of CO2 emissions annually.
• Jawa 7 Coal-Fired Power Plant (CFPP) 2 x 1,050 MW coal-fired power plant where the company holds 30% shares in PT Shenhua Guohua Pembangkitan Jawa Bali (SPGJB) and 30% shares in the operating and maintenance company. The first and largest PLTU in Indonesia using Ultra-Supercritical boiler technology with low-calorie coal of 4,000-4,600 kkal/kg AR, with a competitive tariff of 4.2122 cent USD/kWh.
• Karangkates Floating Solar Power Plant 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 (which provides dam infrastructure access).
• Tembesi Floating Solar PV Power Plant 35 MWac / 46 MWp floating solar power plant located at Trembesi Reservoir, Saguling District, Batam City, Riau Islands. Developed in collaboration with PT TBS Energi Utama Tbk.
• Batang Toru Hydropower Plant (HPP) 510 MW hydropower plant designed as a peaker plant with water consumption of 0.24 liter per kWh. Intended to assist the Sumatera electrical system and contribute to Indonesia's renewable energy programs.
• Tanah Laut Wind Power Plant (WPP) 70 MW wind power plant developed through a shareholder assignment via the GMS on March 31, 2023, in collaboration with Adaro Power and Total Eren. Contributes to supporting Indonesia's renewable energy utilization target and net zero emission target.
• IKN Solar PV Power Plant (PLTS IKN) 50 MW solar power plant assigned by shareholders to support electricity needs of the planned Nusantara Capital City (IKN). National Strategic Program directed by President Joko Widodo. Located at the point with the highest irradiation level in the IKN area, projected to produce 92.8 GWh of green energy annually and reduce 104,864 tons of CO2 emissions annually.
• Sumbagsel 1 Mine Mouth CFPP 2 x 150 MW mine-mouth power plant developed to support government programs using local resources to accommodate the electrical system in the South Area of Sumatera.

Quantifiable outcome

• 214,000 tons CO2 avoided annually by Cirata Floating PV
• +5 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• PT TBS Energi Utama TbkcoreStrategic or Co-development Partner · 31 March 2023Collaboration on Trembesi Floating Solar PV Power Plant (35 MWac/46 MWp) located at Trembesi Reservoir, Saguling District, Batam City, Riau Islands. Project is in pre-construction preparation stage to supply clean energy to Batam area by 2025.
• GD Power Hong Kong Co., Ltd.coreStrategic or Co-development PartnerCollaboration on Karangkates Floating Solar Power Plant (100 MWac) located at Sutami Dam, Malang Regency, East Java. Target operational date 2025.
• Perum Jasa Tirta IcoreStrategic or Co-development PartnerCollaboration partner on Karangkates Floating Solar Power Plant project, providing dam infrastructure access.
• Adaro PowercoreStrategic or Co-development PartnerCollaboration on Tanah Laut Wind Power Plant (70 MW) project, a shareholder assignment to PLN Nusantara Renewables through GMS on March 31, 2023.
• Total ErencoreStrategic or Co-development PartnerCollaboration on Tanah Laut Wind Power Plant (70 MW) project to support Indonesia's renewable energy and net zero emission targets.
• SembCorp Utilities Pte. Ltd.coreStrategic or Co-development PartnerJoint Venture partner in PT Nusantara Sembcorp Solar Energi (NSSE) for development of IKN 50 MW Solar Power Plant. NSSE is developing 40 MW of the 50 MW total capacity.
• China Shenhua Energy Company, Ltd.coreStrategic or Co-development PartnerCollaborative investment partner in Jawa 7 CFPP (2 x 1,050 MW). PLN NR holds 30% shares in PT Shenhua Guohua Pembangkitan Jawa Bali (SPGJB) and 30% shares in operating company.
• MasdarflagshipStrategic or Co-development PartnerSigned Joint Development study Agreement with PLN Nusantara Power to increase Cirata Floating PV capacity. Cirata currently occupies only 4% of reservoir area, with potential for up to 20% per Indonesian regulation.
• Shaf FoundationminorStrategic or Co-development PartnerNGO partnership for drilled water well project at Quratul'Ain Al Ash'Ary Islamic Boarding School, Ciroyom Village, Bandung Barat. Water well completed at depth of 56 meters providing clean water to boarding school and hundreds of surrounding families.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• China Shenhua Energy Company: Largest coal-fired power producer in China and PLN NR's JV partner in the Jawa 7 CFPP (2x1,050 MW) via PT Shenhua Guohua Pembangkitan Jawa Bali. Comparable as a state-affiliated integrated coal-and-renewable power company expanding into emerging markets.
• Masdar: UAE-based global renewable energy developer and the bilateral partner behind Cirata Floating Solar. Comparable as a sovereign-backed renewable IPP developer pursuing utility-scale solar, wind, and green hydrogen across emerging markets.
• Sembcorp Industries: Singapore-based sustainable energy and urban solutions group; SembCorp Utilities is PLN NR's JV partner in NSSE for the IKN 50 MW solar project. Comparable as a regional utility/IPP incumbent with a multi-GW renewable portfolio across ASEAN.

Direct peers

• PT Pertamina Geothermal Energy: Indonesia's largest geothermal IPP and a Pertamina subsidiary, listed on the IDX since 2023. Closely comparable as a state-affiliated Indonesian renewable IPP with a multi-GW generation portfolio, long-term PLN PPAs, and ambitions to expand into greenfield renewable technologies beyond its core geothermal base.
• PT Indonesia Power: A subsidiary of PT PLN (Persero) operating the largest fleet of power generation assets in Indonesia. Directly comparable as a PLN Group-affiliated power producer selling electricity to the same off-taker under similar PPA structures, though its fleet is dominated by legacy thermal and hydro rather than renewable IPPs.
• Adaro Power: Diversified Indonesian energy group developing renewables alongside coal. Direct partner with PLN NR on the Tanah Laut 70 MW wind project and competing for similar utility-scale renewable IPP mandates in Indonesia.
• PT Pembangkitan Jawa Bali (PJB): PLN Group-affiliated power producer operating Java-Bali grid assets and predecessor entity to PLN Nusantara Power. Closely comparable as a PLN-affiliated IPP selling into the same JAMALI electrical system under similar regulatory frameworks.
• PT TBS Energi Utama: Indonesian energy company developing the 35 MWac/46 MWp Trembesi Floating Solar PV in partnership with PLN NR. Closely comparable as a domestic IPP co-developer pursuing utility-scale renewable projects in Indonesia.

Regional players

• ACEN Corporation: Philippine-listed renewable energy developer with >4 GW pipeline across ASEAN. Comparable as a Southeast Asian utility-scale renewable IPP pursuing a similar floating solar, onshore wind, and solar-plus-storage strategy in the region.

Emerging players

• Total Eren: Paris-based renewable energy IPP developer (affiliated with TotalEnergies); partner with PLN NR and Adaro on the Tanah Laut 70 MW wind project. Comparable as an emerging-market-focused utility-scale wind and solar developer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pt-pjb-investasi

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 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 PJB Investasi