CSV and Mahardika Partner to Drive Industrial Decarbonization and Renewable Energy in Indonesia

JAKARTA, September 25, 2025 — Climate Smart Ventures (CSV) and Mahardika Energy Partners have signed a Memorandum of Understanding (MoU) to accelerate Indonesia’s energy transition and support the country’s 2060 net-zero commitment.

Indonesia’s Electricity Supply Business Plan (RUPTL) 2025–2034 sets the most ambitious renewable roadmap in the nation’s history, targeting 69.5 GW of new power generation capacity by 2034, with about 76% sourced from clean energy such as solar, wind, hydro, geothermal, and nuclear, supported by energy storage systems. CSV and Mahardika view the integration of privately owned power plants as a quick-win strategy to boost renewable adoption and reduce reliance on coal, complementing large-scale grid-connected projects.

Accelerating Industrial Decarbonization

Industrial decarbonization sits at the core of the collaboration. Indonesia’s steel, cement, textiles, and nickel sectors underpin economic growth but account for a significant share of emissions. By focusing on these industries, CSV and Mahardika aim to design standardized, financially bankable decarbonization pathways, foster knowledge-sharing, and position leading companies as champions for industry-wide change.

“We’re excited to deepen our partnership with Mahardika to advance fit-for-purpose decarbonization and renewable energy adoption in Indonesia,” said Lawrence Ang, Project Lead and Managing Partner at CSV. “Our shared focus is clear: translating sustainability ambitions into a technical and commercial reality.”

CSV brings extensive experience in advising corporations and governments across Asia and global markets on low-carbon strategies, supported by its affiliate fund, the Asia Energy Transition Platform (AETP). AETP mobilizes capital for distributed renewable energy and storage solutions, such as rooftop solar and small hydro, and is already active in the Philippines with expansion planned for Indonesia.

Renewable Energy and Biomass Opportunities

The MoU also highlights technical assistance and financing support for renewable projects, including feasibility studies, transaction structuring, and investor engagement to accelerate adoption of cost-effective clean energy.

In addition, the partners will explore coal-to-biomass transitions by mapping out domestic supply chains for biomass pellets, conducting supply-demand analysis, and working with industry players to pilot projects for industrial heat and power applications.

“By combining Mahardika’s extensive local networks and technical expertise with CSV’s international financing and transaction advisory experience, we aim to deliver transformative energy solutions,” said Arthur Simatupang, Director at Mahardika Energy Partners.

Shared Commitment to Net-Zero

Mahardika, a Jakarta-based strategic advisory firm, specializes in project development and financing for energy and infrastructure, with a strong focus on renewable energy, industrial decarbonization, and innovative financing structures. Since early 2024, CSV and Mahardika have already worked together on a decarbonization project with a leading nickel company, laying the foundation for this expanded partnership.

The MoU cements their shared goal of advancing practical, industry-led climate solutions that support Indonesia’s net-zero pathway while contributing to wider decarbonization efforts across Southeast Asia.