Hero Global targets 100 MW renewable portfolio by 2031, backed by Japanese partner

By Romel S. Gurky

Renewable energy developer PT Hero Global Investment Tbk (IDX: HGII) said it is targeting 100 megawatts of contracted renewable energy capacity by 2031, as it expands its portfolio through new projects and strategic partnerships.

The company, which listed in January 2025, currently operates 19 MW of minihydro capacity in North Sumatra and holds a minority stake in a 3 MW biogas plant, and is pursuing additional projects across hydro, biomass, biogas and solar segments.

Hero Global’s expansion is supported by SEP International Netherlands B.V., part of Japan’s Shikoku Electric Power Company, which holds a 25% stake in the company. The partnership provides access to technical expertise and development capabilities, marking the Japanese firm’s first investment in the country and in a holding company.

The company is also participating in renewable independent power producer (IPP) tenders with state utility PLN, covering a total capacity of 11.4 MW, as part of its near-term pipeline.

Read also: HGII integrates mini-hydro operations with local farming around 19 MW assets

Hero Global said it plans to develop a pipeline of projects including 58 MW of hydro, 8 MW of biomass, 6 MW of biogas and 10 MW of solar capacity.

The company added that long-term power purchase agreements with PLN, typically spanning 20 to 25 years, will underpin revenue stability as it scales up its portfolio.

Electricity demand in Indonesia is growing at around 5.4% annually, while renewable energy deployment remains relatively low compared with overall potential, creating opportunities for private sector investment.

Editing by Alexander Ginting