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Executive Column: Xurya Daya banks on rentals to push solar panel use
Xurya Daya Indonesia cofounder and and chief technology Edwin Widjonarko explains the start-up’s strategy of solar panel rentals and its role in promoting renewable energy in Indonesia.
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Xurya Daya Indonesia cofounder and chief technology officer Edwin Widjonarko (Courtesy of Xurya Daya/Xurya Daya)
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em>At its inception in 2018, Xurya Daya Indonesia relied on commercial and industrial clients to kick-start its rooftop solar panel business. That earned the start-up enough traction to attract US$21.5 million in a Series A funding round in 2021, which was topped up by additional venture capital and strategic investors in 2022. Xurya Daya currently has more than 100 ongoing projects across Indonesia.
The Jakarta Post's Yohana Belinda interviewed Xurya Daya Indonesia cofounder and chief technology officer Edwin Widjonarko to discuss the firm’s business model of solar panel rentals and its contribution to the development and use of renewable energy in Indonesia.
Question: What has Xurya's market entry contributed to Indonesia’s renewable energy sector?
Answer: When we analyze the differences between 2018 and the present, it becomes evident that a significant transformation has taken place. There is a notable change in awareness. We have made a modest contribution to raising awareness concerning the renewable energy sector in Indonesia.
We are proud to be the pioneer of solar panel rental services in Indonesia, catering to the needs of businesses [for clean energy]. Today, there is a growing trend of people embracing the solar panel rental business model. This business model effectively tackles the issue of Indonesia’s slow adoption of renewable energy when compared with neighboring countries.
We had more than 130 projects as of October 2023, with a particular focus on the commercial and industrial sectors. [Most of our projects are] located on the island of Java, [but we] also have several major projects in Sumatra, Bali, Sulawesi and Borneo [Kalimantan].
We have extensive experience in installing solar panels in various settings, such as factories, warehouses and malls.
