Thursday, June 1, 2023 | 01:50 WIB

Investment for renewable energy startups in Indonesia


IO – New Energy Nexus Indonesia, a California-based international venture, opened its doors at an early stage for Indonesian renewable energy startups, in 2018. Its incubation and acceleration tracks offer coaching, mentoring and support to help validating and firming “Go to Market” strategy and plans for each team within its program. 

Led by Yeni Tjiunardi, Investment Director for Indonesia, the fund focuses on smart and renewable energy in 10 areas: Renewable Energy, Smart Grid, Energy Efficiency, Energy Management, Customer Experience, E-Mobility, Business Model Innovation, IOT & Digitization, Energy Access and Energy Storage. “We empower scalable and competent renewable energy companies in pushing forward Indonesia’s effort to transition to a low-carbon economy, through a combined programmatic and investment approach,” she explained on Saturday (9/10/2020). 

Aiming to enable and empower 10 to 15 companies from a seed to series A stage, Indonesia 1 Fund eases the early stage investment gap and barrier for Indonesian renewable energy entrepreneurs and companies to enter this budding market. First investment is a local renewable energy company, PT Bina Usaha Lintas Ekonomi (BLUE). This also marks the launch of its Indonesia 1 Fund, dedicated to supporting early-stage renewable energy companies in Indonesia. 

“With this funding, we aim to strengthen our company’s foundation, focusing on sustaining high-level development over the next 2 years. This is directed to improving our e-commerce platform called the Warung Energi, and expanding our team for marketing and project management,” said Abu Bakar Abdul Karim Almukmin, the CEO of BLUE. 

BLUE provides one-stop solutions for solar energy-related goods and services through its B2C online marketplace, known as Warung Energi as well as B2B solar energy solutions to commercial, industrials and centralized solar energy systems for urban and rural areas in Indonesia. The Company was admitted into New Energy Nexus Indonesia’s incubation track in late 2019, and then made its way into the acceleration program in 2020. 

As part of the program, teams are eligible for two types of funding: restricted incubation grant and investment funding, through its Indonesia 1 Fund. Application for the New Energy Nexus Indonesia incubation and acceleration program is open year-round for renewable energy startups and entrepreneurs on (est) 


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