JAKARTA – PT Arkora Hydro Tbk (ARKO) has a total contracted capacity of 42.8 MW from three power plant projects that are already operational, namely the Cikopo Project in West Java (7.4 MW), the Tomasa Project in Central Sulawesi (10 MW), the Yaentu Project in Central Sulawesi (10 MW), and from two projects currently under construction: the Kukusan Project in Lampung (5.4 MW) and the Tomoni Project in South Sulawesi (10 MW).
All five power plant projects utilize run-of-river technology, with an estimated electricity production target of 118.2 GWh for the three operational projects this year, and a projected growth of 49.5% year-over-year to 176.7 GWh by 2025 following the completion of the Kukusan Project next year.
The Company's President Director, Aldo Artoko, stated that the Company is optimistic about the development of the renewable energy sector in Indonesia and confident that the Company can support government targets such as the energy mix target, Net Zero Emission (NZE), and energy self-sufficiency. To that end, the Company continues to proceed with the construction of both projects to contribute to Indonesia's energy mix from NRE and accelerate the country's goal of achieving energy self-sufficiency.
“We are accelerating the construction of the ongoing power plant projects, namely the Kukusan Project and the Tomoni Project, with construction progress reaching 49.9% and 12.2% respectively as of November 2024, and are expected to be completed in the second half of 2025 and 2026,” said Aldo on December 19, 2024.
ARKO Director Boy Gemino Kalauserang highlighted the company’s role in environmental, social, and governance (ESG) aspects toward achieving the NZE target by 2060. From 2017 to the third quarter of 2024, ARKO has successfully reduced greenhouse gas emissions by approximately 237,168 tons of CO₂eq, representing an increase in emission reductions of 34,534 tons of CO₂eq (17.1% year-to-date) over the first nine months of 2024. “Going forward, we estimate that ARKO will be able to reduce greenhouse gas emissions by approximately 99,937 tons of CO₂eq per year after the Kukusan Project and Tomoni Project become operational,” said Boy.
ARKO Director Ricky Hartono added that from a financial perspective, despite weather anomalies, the Company still managed to record a 16.1% YoY increase in revenue to Rp153.5 billion during the 9M24 period.
“The hope is that by continuing to pursue ongoing project construction and realizing the projects in our pipeline totaling over 260 MW, the Company can continue to enhance its financial assets to boost its capacity and capabilities for sustainable growth,” said Ricky.
