PT Arkora Hydro Tbk (ARKO), 31.49% owned by PT United Tractors Tbk (UT), held its 2024 Public Expose on December 17, 2024, to present its achievements and future targets. Currently, ARKO has a total contracted capacity of 42.8 MW from three operational projects: Cikopo Project in West Java (7.4 MW), Tomasa Project in Central Sulawesi (10 MW), and Yaentu Project in Central Sulawesi (10 MW). Additionally, two projects are under construction: Kukusan Project in Lampung (5.4 MW) and Tomoni Project in South Sulawesi (10 MW).
These five power plant projects utilize direct river flows (run-of-river) and aim to produce an estimated 118.2 GWh of electricity this year from the three operational projects. After the Kukusan Project construction is completed next year, this production is expected to grow by 49.5% year-on-year to 176.7 GWh in 2025.
President Director ARKO, Aldo Artoko stated that the company is optimistic about developing the renewable energy sector in Indonesia. He expressed confidence in ARKO’s ability to support government goals, including achieving the energy mix target, Net Zero Emissions (NZE), and energy self-sufficiency. To this end, ARKO continues to accelerate the construction of its two ongoing projects to contribute to Indonesia’s renewable energy mix and expedite the country’s goal of energy self-sufficiency.
“We are accelerating the construction of the Kukusan and Tomoni power plant projects, which have reached 49.9% and 12.2% construction progress, respectively, as of November 2024. These projects are expected to be completed in the second half of 2025 and 2026,” Aldo explained.
Director ARKO, Boy Gemino Kalauserang elaborated on the company’s role in environmental, social, and governance (ESG) aspects to achieve the NZE target by 2060. From 2017 to the third quarter of 2024, ARKO successfully reduced greenhouse gas emissions by approximately 237,168 tons of CO₂ equivalent (CO₂eq), with a year-to-date increase of 34,534 tons CO₂eq (17.1%) during the first nine months of 2024. “In the future, we estimate that ARKO will be able to reduce greenhouse gas emissions by approximately 99,937 tons CO₂eq annually once the Kukusan and Tomoni Projects are operational,” Boy added.
Director ARKO, Ricky Hartono, highlighted the company’s financial performance. Despite weather anomalies, ARKO managed to increase its revenue by 16.1% year-on-year to IDR 153.5 billion in the first nine months of 2024. “We hope that by continuing to pursue the construction of ongoing projects and realizing the pipeline of projects, which exceeds 260 MW, the company will consistently enhance its financial assets, increasing capacity and capabilities to achieve sustainable growth,” Ricky concluded.