ion Ventures and PT Inovasi
14th December 2020 – London and Jakarta
ion Ventures is pleased to announce that it has executed a Memorandum of Understanding with PT Inovasi (“Inovasi”) to deploy capital and expertise into an energy storage venture in Indonesia, which will support a further 100 feasibility studies and an additional pipeline of 50 existing minigrids needing optimisation works.
As a modern utility and energy storage infrastructure specialist, ion Ventures has ambitious growth plans for its energy storage development pipeline. With a UK based business in grid scale storage, and an ASEAN operation in storage and renewable project development, ion is looking to grow its pipeline and partnership network in both regions.
Through its MOU with Inovasi, ion Ventures will help bridge the gap between development and finance for energy storage in Indonesia. The parties will source, develop and operate energy storage assets at scale, replicating its proven operating model and growing pipeline in the UK.
Inovasi have been working in the micro and minigrid sector in Indonesia since 2016, developing solutions, delivering O&M services and improving quality of life and mobility through their social enterprise.
The core team Co-founded by Bayu Setyaning and Andre Susanto operate in a number of areas across Indonesia and have completed inspection, impact assessments and surveys of over 500 existing minigrids and rural communities. 150 of these rural communities were surveyed in the last 18 months with the sole purpose of monitoring existing minigrids’ impacts on the communities and for potential new minigrid applications.
Andre Susanto, Co-founder, said “our new partnership with ion brings a synergistic partnership for both parties, with ion seeking expansion in the region, and Inovasi always looking to replicate and scale up our offering. This agreement puts Inovasi in place to continue de-risking energy access investments in Indonesia with opportunities to expand to other countries”.
Dan Taylor, Director of ion Ventures said: “Our relationship and ongoing work with the UK Department for International Trade and the Mentari programme in Jakarta, has culminated in a fantastic opportunity through their brokerage, with Andre and his colleagues. Indonesia is a vast country with lots of opportunity in energy growth and we look forward to continuing to grow the business with Inovasi.”
ion Ventures and Inovasi will contribute to the urgent demand for energy storage solutions, which is pivotal to a successful transition to renewable energy. Globally, national power grids and localised power sources require a great deal of infrastructure support to transition to renewables, particularly as demand for energy is estimated to increase by more than 25% globally by 2040. Localised sources of energy also provide immense social opportunity to communities that have remained off-grid.
For any further information please contact:
Tel: +44 (0)20 7457 2020