Fourth Partner Energy Teams Up with Indonesia’s Indika Energy

India’s solar developer, Fourth Partner Energy (4PEL), and Indonesia’s PT Indika Energy Tbk. aka Indika Energy has announced the launch of their joint venture ‘PT Empat Mitra Indika Tenaga Surya (EMITS)’ to aid in Indonesia’s renewable energy transition, and is in sync with Indika Energy’s commitment to increase the non-coal portion of its revenue by 50% by 2025.

As per the agreement, Indika Energy will hold 51 percent and Fourth Partner Energy 49 percent stake in EMITS. In line with its Indian business model, just like 4PEL, EMITS will offer integrated solar, storage, and EV charging solutions to Indonesia’s businesses.

Commenting on the partnership, Co-Founder and Executive Director of Fourth Partner Energy, Vivek Subramanian said, “This partnership with Indika Energy is an important part of our strategic expansion into key markets across Southeast Asia. The commercial potential for renewable energy in Indonesia is immense, as the country has a clear imperative towards aggressive decarbonization. EMITS is gearing up to play a vital role in enabling this green energy transition through a simple value proposition to the consumer – cleaner electricity at lower rates than grid tariffs, which will help meet their sustainability goals. Together with Indika Energy’s local expertise and our renewable energy execution prowess, we are confident that EMITS will be Indonesia’s leading renewable energy solutions platform.”

The JV will combine the 4PEL’s experience in building and operating over 550 MW in India and elsewhere, with Indika Energy’s world-class engineering capabilities and strong track record in bringing reliable energy solutions to the people of Indonesia.

President Director of Indika Energy, Arsjad Rasjid said, “Indika Energy is proud to team up with Fourth Partner Energy to establish EMITS, a solar energy company that will provide a one-stop-shop, renewable energy solutions platform for Indonesia’s commercial and industrial sectors. This joint venture is a manifestation of our commitment to diversify our business portfolios, achieve sustainability goals, improve our ESG performance, as well as support the Indonesian government's efforts to achieve its renewable energy mix target of 23% by 2025.”