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Yinson Renewables Enters Indonesia Energy Market Through Acquisition of Inecosolar

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Yinson Renewables Enters Indonesia Energy Market Through Acquisition of Inecosolar

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PT Ineco Solar Solutions (Inecosolar) has been acquired by Yinson Renewables (YR), the renewables division of global energy infrastructure and technology company Yinson Holdings Berhad, (Yinson).

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YR is a leading clean energy independent power producer with a strong portfolio of assets across the entire renewables value chain focusing on three core regions of Latin America, Europe and Asia Pacific. It currently has 460 MW of operational and under construction assets, around 1.5 GW of projects secured and in development, and 3 GW to 5 GW of early-stage developments.

Through the acquisition, Inecosolar will be able to activate its growth plans, including providing all in-one zero-capital solutions, expanding its project portfolio and establishing itself as an Independent Power Producer (IPP) in Indonesia and beyond. This acquisition is also in line with Inecosolar’s ambition to support the Indonesian Government’s vision of increasing the country’s renewable energy use by 23% in 2025.

Last year, Indonesia announced its commitment to achieve carbon neutrality by 2060. The 2021- 2030 Electricity Supply Business Plan (Rencana Usaha Penyediaan Tenaga Listrik, or RUPTL) from Perusahan Listrik Negara (PLN) has been labelled ‘Green RUPTL’ due to the increased share of renewable energy into the country’s future projects pipeline – about 20.9 GW in total, with 4.7 GW of solar achieved in the next decade. The RUPTL also emphasised the critical role of the private sector, estimating that 63.7% of Indonesia’s new solar power capacity will be developed by IPPs over the next decade.

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A zero-capital arrangement allows businesses to install rooftop PV systems with no upfront cost and benefit from reduced electricity tariffs over a 15 to 20-year tenure. Inecosolar aims to pioneer the rooftop solar market in Indonesia with innovative and competitive solutions.

Inecosolar Founder and Director Benoît Prim commented, “We are delighted to have Yinson Renewables onboard and to continue the journey together to reach new heights in the Indonesian energy transition. It was important for us to have a strategic partner who not only understands energy but also shares the same vision about how to do things differently and more efficiently in the current market. Together, we are looking forward to delivering innovative solutions to our Indonesian customers. Now let’s get started!”

He also invited individuals and commercial business owners to get in touch to find out more about the attractive solar solutions available to suit their needs.

“As long as you have a roof space, you are a potential candidate to have a solar system installed, at zero cost for you. As a turnkey solar solutions provider, we can project the potential energy and cost savings, install the system and continue maintaining it for you for years to come.”

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Yinson Renewables Chief Executive Officer David Brunt commented, “Indonesia contributes approximately a quarter of Southeast Asia’s economic activity and is expected to become a major global economy. With a nascent renewable energy market, Indonesia is poised to be a major hub of the energy transition. We are grateful for this opportunity to support Indonesia’s renewable energy goals whilst contributing to stronger energy equity in the country.”

Yinson Renewables Vice President Business Development Marius Kleiven welcomed the Inecosolar team to the YR family, saying, “It is important that Yinson Renewables finds strong local partners with a solid understanding of local market dynamics in order to execute our growth strategies. We have worked with Inecosolar for two years, and have established a good relationship grounded on our shared vision of delivering clean power to meet the world’s energy needs. I am confident that together, we can support Indonesia’s goal of becoming a key exporter of solar power in the region.”

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