Garuda Energy
Garuda Energy
Token: GRD

Indonesian Solar Energy Blockchain Investment

ICO dates
Start date: 2018-03-25
End date: 2018-04-24

Registrated in: Indonesia

Platform: Ethereum
Type: ERC20



Empowering billions by utilizing a global and transparent data exchange.
Ends in 48 days 17 hours
Goal: 17,000,000 USD
Price: 1 HART = 0.059 USD


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Garuda Energy categories
Energy Investment Platform
Garuda Energy whitepaper
Garuda Energy token sale
KYC passing required No | Whitelist No | Restriction for countries No
Hard cap 75,000 ETH
Tokens for sale 750,000,000
Price 1 ETH = 10,000 GRD
Minimal investment 0.25 ETH
Acceppting ETH
Garuda Energy news, social
Garuda Energy search trends in Google
Random whitepaper excerpts


1.1 Energy Resources and Balance

1.2 Energy Demand Forecasts
Market Opportunity
2.1 Government Support Companies to Invest
2.2 Reasons to Invest
3 Problems and Risks
4 Garuda Energy’s Solution
4.1 Why do we need blockchain?
5 Business Model and Technology
6 Crowdsale details
6.1 Budget Allocation
7 Legal

1. Introduction

Indonesia’s economy is the largest in Southeast Asia, with a gross
domestic product (GDP) estimated at $861.9 billion in 2015. The
country has experienced steady growth emerging from the Asian
financial crisis of 1997–1999, averaging a stable 5%–6% annual
growth rate. The strength of Indonesia’s economy was formerly
based on its considerable oil exports, which drove economic growth
in the 1970s and 1980s.

Over time, Indonesia has transitioned from an export economy to one
more supported by domestic manufacturing and investment,
particularly after becoming a net oil importer in 2004. As of 2014, the
economy’s primary sectors were manufacturing (21.5%);wholesale
and retail trade, including repair of motor vehicles and motorcycles
(13.8%); agriculture, forestry, and fishing (13.7%); mining and
quarrying (10.1%); and construction (10.1%).

As a large middle-income country with a growing economy, a critical
component of I...

The country is endowed with significant potential for hydropower
(75,000 megawatts [MW]), micro and mini hydropower (1,013 MW),
solar (4.80 kilowatt-hours [kWh] per square meter per day), biomass
(32,654 MW), and wind (3 to 6 meters per second), and holds 40% of
the world’s geothermal reserves (28,000 MW).

According to MEMR, Indonesia’s total primary energy supply in 2013
was about 1.61 billion barrels of oil. The majority of Indonesia’s
primary energy supply comes from fossil fuels: oil (46.08%), coal
(30.90%), and gas (18.26%).

The share of other renewable energy resources in the energy mix was
below 5%, mostly through hydropower (3.21%), geothermal power
(1.15%), and biofuel (0.40%). It is also important to note that the use
of traditional biomass is prevalent for basic cooking and thermal
purposes among millions of rural households in Indonesia. According
to MEMR data, Indonesia’s final commercial energy consumption in
2013 was 1.12 billion barr...

Independent analyses suggest that growth may be somewhat less;
the International Energy Agency (IEA) World Energy Outlook 2013
Special Report on Southeast Asia forecasts a primary energy
demand of 282 million toe by 2025 and a di

erent composition of
energy sources that indicates a slightly slower transition from oil.

Figure 1 provides a visual impression of the magnitude of the
structural shifts proposed in KEN. Compared with Indonesia’s 2011
energy mix, coal generation is expected to triple by 2025, gas to
more than double, and renewable energy to increase more than
tenfold. These KEN targets have become the government’s point of
reference for setting energy sector policy, and both MEMR and the
government have adopted compatible targets.


2. Market Opportunity

Most of Indonesia lies close to the equator with maximum sun
intensity year-round. Indonesia’s average daily insolation is said to
range from 4.5 to 5.1 kWh per square meter, indicating good solar
potential, especially suitable for remote islands and communities with
limited or no grid connections.

The country’s current installed solar capacity is low (27.23 MW)
relative to its potential, but the government has plans to scale up
solar capacity before 2020, particularly to displace isolated diesel
power. These plans include 140 MW of solar photovoltaic (PV) by
2015 and 620 MW of solar power plants by 2020 (including solar
thermal power plants).

In 2013, the government put in place a pricing regime for solar PV
power intended to attract IPP investment. MEMR Ministerial
Regulation 17/2013 established a bidding process to tender out grid-
connected solar PV capacity to IPPs using a ceiling price of $0.25/
kWh (or $0.30/kW...

2.1 Government Support Companies to Invest

To encourage the participation of companies in investing in solar
industry and to develop and boost utilisation of solar energy, the
government is taking the following responsibility:

Using solar powered power plants in the rural and city areas.

Supporting the commercialisation of solar powered power plants
by maximising the private sector role.

Development of domestic solar powered power plants industry.

The creation of an e

cient funding system through the involvement
of the banking sector.

Finalising the draft of the Ministerial Regulation regarding feed-in-

(FIT) in the field of solar power. FIT scheme o

ers more
incentives towards investors who can maximise the local content
(min. 40%) in their product.

2.2 Reasons to Invest

There are four k...

Secondly, Indonesia is an archipelago country. Some remote islands
still do not have access to electricity. This o

-grid deployment of
solar energy to these islands could help to improve the communities’
lives. Solar energy can generate electricity during day time and store
them in a battery. This electricity is then used at night or when there
is little sunlight. The o

-grid system is normally combined with diesel
engine to mitigate the intermittence of solar power.

The third supporting point is that in the recent Paris Agreement,
countries are committed to cutting the carbon dioxide (CO2) gas
emission. Achieving the CO2 emission target can be challenging
without having some form of renewable energy generation.

While there are many other options for the country such as wind,
geothermal and tidal, these technologies are generally location
dependent. Solar power prefers area with minimum shading. Solar
power would be able ideal in...

3. Problems and Risks

Due to several constraints, such as improper site selection, lack of
solar resource availability data, grid interconnection issues, limited
bid preparation times, and a subsequent legal challenge, solar energy
projects might be abandoned. The government is currently working
on a new regulation for solar PV.

The government have also made several trial attempts to launch solar
power as a wide-ranging option for rural electrification. Unfortunately,
many of the initial attempts to implement the government’s Thousand
Islands Program have been delayed by some technical di

especially in operation.

After the peak hours of solar power generation during the day, hybrid
systems must be switched to alternative power in the system, usually
diesel or biomass. This switching must be done manually, and power
outages in these small grids due to operational errors are frequently

4. Garuda E...

Garuda Energy Roadmap

February 2018
10 millions USD have been raised from a private sale
March 2018
Start of token sale
April 2018
Round-up of token sale and listing on exchanges
June 2018
Partnership for the future EcoSystem
August 2018
Real-time tracker app full version release
December 2018
Blockchain meet-up at Jakarta