Jakarta (12/07/2021) – New Energy Nexus Indonesia, supported by the IKEA Foundation, has finalized its investments in 4 solar PV companies doing businesses in Indonesia to cap its 1st half 2021 investment activities through its Indonesia 1 Fund. Launched last year, the Fund is focusing on supporting early-stage renewable energy startups and companies in Indonesia.

As a catalytic fund, the  Fund has been collaborating with other early-stage investors in mobilizing much needed funding for renewable energy startups and companies in Indonesia. So far, it has co-investment with Nexus for Development for Sumba Sustainable Solutions (3S) and with Schneider Electric Energy Access Asia and Crevisse Partners Co. Ltd. for Xurya. Two other solar PV startups that have received funding from New Energy Nexus are SolarKita and Right People Renewable Energy (RPRE). 

“Schneider Electric Energy Access Asia is very excited about our first investment in Indonesia as we believe Xurya will play a critical role in the push for commercial adoption of solar energy. This is also a great opportunity to co-invest with early-stage impact investors like New Energy Nexus and Crevisse Partners in supporting start-ups that are positively advancing SDG7” said Gilles Vermot Desroches, President of Schneider Electric Energy Access. 

“It is exciting to invest in a company such as Xurya that we see a great potential to create significant environmental impact through their business. In the process of co-investing with New Energy Nexus, keen perspectives were addressed that were not only important to the company’s growth, but also important to understand the local market.” said Wonyoung Kim, Director at Crevisse Partners.

“As thematic mission-driven investors into renewable energy start-ups operating in Indonesia, we are excited about the five investments we have made since late last year. These  investments into solar PV companies are complementary as they serve different market segments, collectively demonstrating the tremendous market opportunities in Indonesia. And through invaluable collaboration with our co-investors we intend to send a signal not only to other investors but also to customers that renewable energy is the future of energy for Indonesia. We  are looking to close more investments into renewable energy start-ups including e-mobility, smart energy management, and energy efficiency technologies and business models this year. The Indonesia 1 Fund is in this line of work to accelerate the renewable energy transition in Indonesia.” said Christina Borsum, CFO of New Energy Nexus. 

New Energy Nexus Indonesia has supported more than 45 renewable energy startups through its Smart Energy Incubation and Acceleration Program focusing 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. As of the end of June 2021, eleven renewable energy startups so far in the form of investment and grants (see New Energy Nexus Indonesia funding fact sheet here). “We will use the fund to build innovative products and ecosystems needed to increase the number of solar system users in Indonesia.” expressed Amarangga Lubis, CEO of SolarKita which has recently received the fundings from the Indonesia 1 Fund.

New Energy Nexus Indonesia, part of New Energy Nexus Global, opened its door to early-stage Indonesian renewable energy start-ups in 2018. It is supported by the Ikea Foundation which recently announced together with the Rockefeller Foundation to join forces to set up a $ 1 billion global platform to fight climate change and energy poverty.  Its Smart Energy Program provides coaching, mentoring and business support to help renewable energy startups develop and validate their business strategy. Application for New Energy Nexus Indonesia’s Smart Energy Program can be accessed through its website at indonesia.newenergynexus.com.

 

About New Energy Nexus Indonesia:

New Energy Nexus is an international organization that strives towards an abundant world with a 100% clean energy economy for 100% of the population in the shortest time possible. To achieve this goal, we support diverse clean energy entrepreneurs with funds, accelerators and networks. We started in California and now operate programs in New York, China, India, Southeast Asia and East Africa.

For more information

Anindita Sekar Jati

Indonesia Communications Manager

anindita.j@newenergynexus.com