PT Hero Global Investment (HGII), a holding company focused on the renewable energy industry in Indonesia, is set to form a strategic partnership with Shikoku Electric Power Company, Inc. (Yonden), a Tokyo Stock Exchange-listed company.
The strategy of leveraging Yonden’s expertise with a renewable energy generation portfolio of more than 1,000 MW points to this partnership as an important milestone in scaling up renewable energy generation in Indonesia.
Yonden through its wholly owned subsidiary SEP International Netherlands B.V. (SEPI) has entered into a Conditional Share Purchase Agreement with the Controlling Shareholders of HGII on November 8, 2024.
SEPI will join HGII as one of the shareholders through a partial sale and purchase transaction of shares owned by the Controlling Shareholder, no later than 1 month after HGII is listed on the Indonesia Stock Exchange.
Following the transaction, the Controlling Shareholders will continue to control HGII with a majority ownership of 55 percent and SEPI 25 percent. This shareholding structure reflects the mutual commitment of both parties to join forces in developing HGII in the renewable energy sector in Indonesia.
“The collaboration with Yonden provides a great opportunity for HGII to accelerate the growth of renewable energy in Indonesia. In line with the national goal to achieve net zero emission by 2060, HGII is committed to expanding its renewable energy portfolio.” HGII President Director, Robin Sunyoto, said as quoted in a statement on Friday, December 20, 2024.
HGII’s expansion plans in developing renewable energy in the future include hydropower plants (PLTA), mini hydro power plants (PLTM), solar power plants (PLTS), biogas power plants (PLTBg) and biomass power plants (PLTBm) with a target capacity of up to 100 MW by 2031.
Yonden’s technical support and experience at the project development and construction stages as well as in terms of O&M (operation and maintenance) will certainly strengthen HGII’s ability to manage power plants in an optimal and sustainable manner.
“Together with Yonden, HGII is optimistic to make a significant contribution to the renewable energy industry in Indonesia,” Robin concluded.
