Dharma Polimetal (DRMA) Expands into Solar Energy Storage Battery Business
JAKARTA, investortrust.id – PT Dharma Polimetal Tbk, a publicly listed automotive component manufacturer, is diversifying its portfolio by venturing into the battery energy storage system, or BESS, business.
BESS, a battery system designed to store energy generated from solar panels, marks the company’s strategic move beyond the automotive sector.
“As we approach 2025, we are implementing several strategies to drive sales growth. One key initiative is diversifying our business portfolio to ensure sustainable and resilient growth,” said Irianto Santoso, President Director of Dharma Polimetal, on Monday, Feb 3, 2025.
The new BESS portfolio is being developed at a facility owned by the company’s subsidiary, PT Dharma Controlcable Indonesia (DCI).
To date, the company has supplied 600 BESS units to a housing developer for solar panel installations in residential properties. These systems are expected to serve as independent renewable energy sources, powering each home.
Additionally, the integration of solar panels and BESS is being explored as an alternative energy source for Electric Vehicle Charging Stations (SPKL). PT DCI has conducted trials, achieving an energy output of 27.5 kilowatt peak (kWp) from solar panels, with a storage capacity of 50 kilowatt-hours (kWh) from BESS, capable of supplying a 30-kilowatt (kW) charger.
“Amid ongoing industry challenges, diversification is DRMA’s strategy to build new revenue streams. We expect this new venture to enhance our performance this year,” Irianto added.
Management views Indonesia’s electricity sector as poised for significant growth, supported by government policies. The country has also signed power export agreements with neighboring nations, signaling progress in the sector.
Furthermore, at the UN Climate Conference COP 29, Indonesia committed to producing 75 gigawatts of renewable energy over the next 15 years. Solar panels are expected to play a key role in achieving this target.
“Given that BESS is a critical component of solar panel systems, the market potential for BESS is highly promising,” Irianto noted.
To support its diversification strategy, DRMA has established a comprehensive collaborative ecosystem called Dharma Connect (DC). DC encompasses five segments: DC Battery (battery packs, BESS, and auxiliary batteries), DC Power (slow and fast charging stations), DC Motor (BLDC hub and mid-drive motors), DC Solar, and DC Cross (two- and four-wheel EV conversions).
As of September 30, 2024, DRMA recorded sales of Rp 4 trillion (Rp 245 million). Despite industry challenges in 2024, the company achieved a 20% sales growth in Q3 2024 compared to the previous quarter.
Operating profit stood at Rp 548 billion, with net profit attributable to the parent entity reaching Rp 412 billion as of September 30, 2024.