1. Startups

Xurya Gets Continued Funding, Fresh Wind for Renewable Energy Startups in Indonesia

Previously at the end of 2018 they had booked initial funding from East Ventures and Agaeti Ventures

Xurya Daya Indonesia (Xurya), a local startup in the renewable energy sector, has just announced the acquisition of seed funding from Clime Capital through the initiative The Southeast Asia Clean Energy Facility (SEACEF). This is the second funding, at the end of 2018 they have recorded investments from East Ventures and Agaeti Ventures.

Xurya's products include solar-based energy solutions, which are applied to building roofs. This startup was founded in July 2018 by Eka Himawan, Edwin Widjonarko, and Philip Effendy. Currently, its services have been sold in the commercial and industrial sectors in the Greater Jakarta, East Java, Palembang, and Makassar areas.

Xurya will allocate this investment to continue pipeline construction of PLTS (Solar Power Plant) Roofs in commercial & industrial buildings which currently has reached 80 MWp.

Xurya Daya Indonesia Managing Director Eka Himawan said, "Amid the slowdown in PV mini-grid investment, we believe that commercial and industrial customers have become a bright spot for electricity investors in Indonesia, not only from a profit perspective, but more importantly from a climate impact perspective. "

In presenting their products, Eka admits that consumer education is one of the toughest challenges. Because there are still many companies and individuals who do not understand solar panels and many have the wrong idea about the electrical stability of PLTS.

"The main target this year is to expand its business to all regions of Indonesia to offer solutions go green to more companies," concluded Eka.

The opportunity for the development of Rooftop Solar Power Plants in Indonesia is very large, exceeding its potential capacity of 200 thousand megawatts. Currently, the cost of Rooftop PLTS components is lower than other renewable energies, but this market has not been fully utilized so that less than 150 megawatts have been installed throughout Indonesia.

With an initial focus on Indonesia, Vietnam and the Philippines, SEACEF aims to accelerate the emerging energy industry revolution through the use of clean energy. They focus on providing funding to technology developers and business models that have proven global impact such as PLTS, PLTB, energy storage technology, e-mobility, DSM technology, energy efficiency solutions, and clean energy transmission infrastructure.

 

Startup opportunities in the energy sector

According to the data summarized by the Ministry of Energy and Mineral Resources, Indonesia has the potential for new and renewable energy which is quite large in scale. Some of them:

  • Mini/micro hydro of 450 MW,
  • 50 GW of biomass,
  • Solar energy is 4,80 kWh/m2/day,
  • Wind energy 3-6 m/s,
  • Nuclear energy 3 GW.

Its development continues to be pursued, because fossil-based electrical energy sources such as gas, oil, coal have limitations and will run out. Several developed countries such as China and Germany have already maximized renewable energy earlier. Indonesia also seems to be open to adopting it, and has even targeted its utilization to accommodate 23% of the total energy demand in 2025.

More Coverage:

Besides Xurya, in Indonesia there are already some startups are at play in that realm. Some of them are Warung Enegri, Weston Energy, Forbetric, Erenesia, Khaira Energy, and Shalendra Power. Most work on the potential of solar power.

The funding Xurya gets can be a breath of fresh air for the associated ecosystem – there is an investment thesis that successfully validates the potential of the business. Because talking about renewable energy, there are still many obstacles. Around adoption, consumers are required to make an initial investment that is not cheap, while the efficiency impact may not be felt instantly.

For this reason, the emergence of more affordable product innovations is the spearhead of acceptance and progress of the renewable energy business in Indonesia.

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