CSV, Mahardika sign MoU to advance industrial decarbonization and renewable energy in Indonesia

By Romel S. Gurky

Climate Smart Ventures (CSV) and Mahardika Energy Partners have signed a Memorandum of Understanding (MoU) to collaborate on industrial decarbonization and renewable energy development in Indonesia, supporting the country’s target of achieving net-zero emissions by 2060.

CSV is an advisory firm specializing in energy transition and decarbonization across Asia, providing transaction advisory, ESG guidance, and project development support for utility-scale and industrial energy projects. Mahardika Energy Partners is a Jakarta-based strategic consulting firm that assists clients in energy and infrastructure project development, with expertise in local policy, industrial decarbonization, and project financing.

The partnership, formalized at the 11th Indonesia International Geothermal Conference & Exhibition (IIGCE) 2025, aims to leverage CSV’s advisory experience with Mahardika’s local networks and technical expertise. The collaboration will focus on industrial decarbonization, technical assistance and financing for renewable energy projects, coal-to-biomass conversion studies, and mobilization of capital through CSV’s Asia Energy Transition Platform (AETP).

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CSV and Mahardika plan to develop strategies for reducing emissions in heavy-emitting sectors such as steel, cement, textiles, and nickel, while supporting renewable energy adoption through feasibility studies, investor engagement, and financing advisory. Coal-to-biomass projects will be evaluated for potential scalability in industrial heat and power applications, including supply chain and financial structuring considerations.

Lawrence Ang, Managing Partner at CSV, said the collaboration will help translate sustainability objectives into technically and commercially viable projects. “Our shared focus is on enabling practical decarbonization solutions and renewable energy adoption across Indonesia,” he said.

Arthur Simatupang, Director at Mahardika Energy Partners, noted that the partnership combines Mahardika’s local technical expertise with CSV’s international experience in financing and transaction advisory to deliver actionable energy solutions.

The MoU builds on ongoing efforts by CSV and Mahardika, including a decarbonization project with a leading nickel company launched earlier in 2024. The collaboration also aligns with Indonesia’s Electricity Supply Business Plan (RUPTL) 2025–2034, which targets 69.5 gigawatts of new generation capacity by 2034, with approximately 76% sourced from renewables, including solar, hydro, wind, geothermal, bioenergy, waste, and nuclear, supported by energy storage.

The initiative will involve joint research, knowledge exchange, and stakeholder engagement to prototype transition pathways and develop bankable, scalable solutions for industrial and renewable energy applications.

Editing by Alexander Ginting