HIJAU: How good governance unlocks private capital

Indonesia’s rooftop commercial and industrial segment led the country’s solar growth in 2025 [1]. HIJAU has been part of that growth through a zero-capital-expenditure model that lets clients get solar without the cost of owning the system outright. Sustaining that growth depends on HIJAU building the governance systems that give investors the confidence to commit further capital.

HIJAU strengthened that governance with support from Australian Development Investments (ADI). ADI committed AUD 4.8 million in junior equity in December 2023 through Clime Capital’s Southeast Asia Clean Energy Fund II. In 2024, ADI paired that investment with technical assistance to strengthen HIJAU’s organisational systems and embed Environmental, Social and Governance (ESG) standards across its operations.

Backing a locally led solar developer 

Founded in 2022, HIJAU builds, operates and maintains rooftop solar across the full lifecycle. Every system it delivers is structured as the same zero-capital-expenditure model. Installed capacity rose from 4.2 MWp in 2024 to 27.03 MWp by December 2025, and now accounts for about 11% of Clime Capital’s 242 MW solar portfolio.

As HIJAU’s footprint grew, stronger ESG systems became central to how it manages risk and earns trust. It set out to align its operations with applicable national and local legislation, as well as the IFC Performance Standards. For an early-stage developer, that groundwork is also commercial, since clear systems and credible reporting position a company for its next round of fundraising.

Strengthening ESG systems through technical assistance

ADI’s technical assistance (TA) in 2024 focused on strengthening HIJAU’s organisational and systems capacity and embedding best-practice ESG standards. The work covered:

• development of an ESG Management System (ESGMS) manual covering corporate ESG integration and anti-sexual-harassment policies
• supporting procedures, plans, tools and policies that put the system into practice
• ESGMS training to build understanding of ESG requirements, including climate-related aspects
• training on core social safeguarding principles and how to apply them

Together, these gave HIJAU a consistent framework for managing ESG across its operations.

Aligning governance with international standards

By December 2025, that framework was producing results. HIJAU had:

• published its first Annual ESG and Impact Report and continued publishing it every year since, covering performance across the business
• embedded its ESGMS through formal policy adoption, strengthened internal processes and regular in-house training. This included implementation of new employee satisfaction and engagement surveys to better understand staff wellbeing and identify areas to build a stronger workplace culture
• established a Whistleblowing System with a standing Whistleblowing Committee and clearly defined responsibilities for handling concerns as they arise
• developed its own Supplier Code of Conduct informed by the ESGMS, which was then socialised with suppliers as a condition of purchase orders
• obtained ISO 45001:2018 and ISO 9001:2015 certifications, building on its ESGMS foundation, and begun the ISO 14001:2015 and B Corp certification processes. HIJAU obtained both in 2026, becoming a Certified B Corporation with a B Impact score of 112.2

For HIJAU’s leadership, these efforts are paying off:

“The technical assistance from ADI has enabled us to pursue ISO 45001 and ISO 9001 certifications, building upon the foundation established through the ESGMS support. Since then, we’ve secured a new fund, and we believe the stronger governance we built with ADI gave investors good reason to back us.”

— Thio Ariyanto, COO of HIJAU

As of December 2025, HIJAU’s profile records:

• 30 full-time employees
• 43% women employees
• 27.03 MWp of installed solar capacity
• 13,159 tonnes of CO₂ avoided
• 2X Criteria aligned

Strengthening the case for private capital