Admission
Faculty Member
Dzikri Firmansyah Hakam
Business Risk and Finance (BRF)
Expertise
Economics and Finance, Energy Economics, Net Zero Carbon, Sustainability, Market Design
2002
B.E. in Power Engineering, Institut Teknologi Bandung, Indonesia.
2012
MSc in Management Science (International Oil and Gas Management) Centre for Energy, Petroleum and Mineral Law and Policy, University of Dundee, Dundee (United Kingdom)
2016
PgDip Islamic Economics, Finance, and Banking (Comparable to Master Degree) Al-Maktoum College of Higher Education, Dundee (United Kingdom)
2014
PhD in Economics (Energy Economics, Law, and Policy)Centre for Energy, Petroleum and Mineral Law and Policy, University of Dundee, Dundee (United Kingdom)
  • dfhakam@itb.ac.id
  • dzikri.hakam@sbm-itb.ac.id
  • Ganesha ITB
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Profile

Dzikri Firmansyah Hakam is a full-time lecturer at the School of Business and Management, Institut Teknologi Bandung (SBM-ITB). He earned his PhD in Energy Economics and Policy, focusing on sustainable development and low-carbon transition strategies. He holds a bachelor’s degree in Engineering (Ir.) and has extensive academic and research experience in energy policy, renewable energy investment, and sustainability strategy. His expertise lies in integrating economic modeling and policy analysis to support Indonesia’s energy transition and sustainable development agenda.

Prior to joining SBM-ITB, he was actively involved in various research collaborations and consulting projects with government institutions, state-owned enterprises, and international organizations. He has contributed to studies on carbon pricing, renewable energy financing, and the socioeconomic impact of energy transition. His research interests include energy economics, carbon market development, and policy innovation for sustainable infrastructure. In addition to teaching and research, he also engages in capacity-building programs aimed at enhancing decision-making and policy implementation in Indonesia’s energy and economic sectors.

Grants, Projects & Achievements

  • Research Grant from ITB: Pemberdayaan Melalui Edukasi: Comprehensive Financial Literacy Training Program for Students and Teachers in SMAN 1 Siberut Selatan, 3T Area, Mentawai Islands, Indonesia (2024).
  • Research Grant from Asahi Foundation: Environmental, Social, and Governance (ESG) Impact on Corporate Financial Strategies of Global Energy Companies (2024).
  • Research Grant from ITB: Effect of Sustainability Literacy on Sustainable Energy Consumption Behavior: Case Study of Indonesia’s Youth (2024).
  • Research Grant from ITB: Optimizing Geothermal Energy in Indonesia through Technological, Financial, and Risk Analyses with Carbon Credit Mechanisms to Achieve NDC by 2060 (2024).
  • Research Grant from ITB: Welfare Analysis of Renewable Energy Penetration in Sulawesi Power System to Support Indonesia’s Energy Transition (2023).
  • Indonesia Endowment Fund for Education (LPDP) Full PhD Scholarship (2014).
  • Chevening Scholarship, U.K. Government (Full MSc Scholarship) (2012).
  • IEEE IES SYPA (Student and Young Professional) Award (2018).
  • Al-Maktoum Academic Excellence Scholarship and Best Student Award (2017).
  • Recognized with multiple internal ITB research sponsorships for sustainable energy, ESG, and financial literacy initiatives (2023–2024).

Publications

  • Hakam, D.F., Wasesa, M. (2025). Advancing towards Indonesia's Net Zero Emission Goals: An in-depth Multi-Criteria Decision Making (MCDM) Analysis of Ship-loader Operations in Maritime Transportation Using Interval Type-2 Fuzzy AHP and TOPSIS Methods. Energy Reports (Q1).
  • Setiawan, A., Mentari, D.M., Hakam, D.F., Saraswani, R. (2025). From Climate Risks to Resilient Energy Systems: Addressing the Implications of Climate Change on Indonesia’s Energy Policy. Energies (Q1).
  • Rahmatullah, M., Hakam, D.F. (2025). Unveiling the Nexus: ESG Reporting, Financial Performance, and IPO Underpricing in the Indonesian Stock Market. Development and Sustainability in Economics and Finance.
  • Damanik, N., Saraswani, R., Hakam, D.F., Mentari, D.M. (2025). Economic Implications and Opportunities of Electric Vehicle Adoption in Indonesia. Energies (Q1).
  • Aditya, I.A., Wijayanto, T., Hakam, D.F. (2025). Advancing Renewable Energy in Indonesia: Challenges, Opportunities, and Strategic Solutions. Sustainability (Q1).
  • Rahadi, R.A., Afgani, K.F., Hakam, D.F., Anggoro, Y. (2025). Utilizing AI in Indonesia's Financial Sector: Strategies for Inclusive Economic Development. Journal Integration of Social Studies and Business Development (Q1).
  • Trijayanto, T., Hakam, D.F. (2025). Economic Viability and Flexibility of the South Pasopati Coal Project Using Real Options Approach. Journal of Risk and Financial Management (Q1).
  • Gustino, R., Hakam, D.F., Prasetio, E.A. (2025). Real Options Valuation for Refinery and Petrochemical Investments in Indonesia. Energy Reports (Q1).
  • Damanik, N., Octavia, R.C., Hakam, D.F. (2024). Powering Indonesia’s Future: Reviewing the Road to Electric Vehicles Through Infrastructure, Policy, and Economic Growth. Energies (Q1).
  • Hakam, D.F., Hakam, L.I. (2024). Sustainability in Small and Medium-Sized Enterprises (SME) Financing. Development and Sustainability in Economics and Finance (Q2).
  • Hakam, D.F., Jumayla, S. (2024). Electric Vehicle Adoption in Indonesia: Lessons Learned from Developed and Developing Countries. Sustainable Futures (Q1).
  • Rifansyah, M., Hakam, D.F. (2024). Techno-Economic Study of Floating Solar Photovoltaic Project in Indonesia Using RETScreen. Cleaner Energy Systems (Q2).
  • Xiaojun, Y., Hakam, D.F. (2024). Advanced Financial and Risk Feasibility Assessment of Indonesia’s Binary Geothermal Plant with Carbon Credit Integration. International Journal of Energy Economics and Policy (Q2).
  • Hakam, D.F., Indrawan, H., et al. (2024). Analyzing Current Trends in Career Choices and Employer Branding within Indonesia’s Energy Sector. Energies (Q1).
  • Paradongan, H.T., Hakam, D.F., et al. (2024). Techno-Economic Feasibility Study of Solar Photovoltaic Power Plant Using RETScreen to Achieve Indonesia Energy Transition. Heliyon (Q1).
  • Pramana, P.A.A., Hakam, D.F., et al. (2024). Consumer Perspectives of PV Rooftops and New Business Initiatives in Indonesia’s Energy Transition. Sustainability (Q1).
  • Hilmiyati-Mas’adah, H., Hakam, D.F., et al. (2024). Switching from LPG to Electricity in Indonesia: A Study in the Java-Bali Grid. Cogent Business & Management (Q2).
  • Hakam, D.F. (2023). Mitigating Market Power and Promoting Competition in Electricity Markets through a Preventive Approach: The Role of Forward Contracts. Energies (Q1).
  • Kanugrahan, S.P., Hakam, D.F. (2023). Long-Term Scenarios of Indonesia Power Sector to Achieve NDC 2060. Energies (Q1).
  • Hilmiyati-Mas’adah, H., Hakam, D.F., et al. (2023). Urban Lifestyle and Energy Sustainability: Conversion Intention from LPG to Induction Stoves. Sustainability (Q1).
  • Haryadi, F.N., Hakam, D.F., et al. (2023). Electric Vehicle Charging Station Adoption in Indonesia. International Journal of Energy Economics and Policy (Q1).
  • Kanugrahan, S.P., Hakam, D.F., Nugraha, H. (2022). Techno-Economic Analysis of Indonesia’s Power Generation Expansion to Achieve Net Zero Carbon 2050. Sustainability (Q1).
  • Hakam, D.F., Nugraha, H., et al. (2022). Mega Conversion from LPG to Induction Stove to Achieve Indonesia’s Clean Energy Transition. Energy Strategy Reviews (Q1).
  • Sajida, N., Ajija, S.R., Haryadi, F.N., Hakam, D.F. (2022). The Effect of GDP and Exchange Rate on Photovoltaic Cell Imports in Indonesia. Iranian Economic Review (Q3).
  • Rifansyah, M., Hakam, D.F. (2024). RETScreen Techno-Economic Feasibility of Indonesia's Cirata 145 MW Floating Solar PV Project: Incentives, Risk Management, and Strategic Implementation. International Conference on Technology and Policy in Energy and Environment (ICTPEE).
  • Hakam, D.F. (2023). Mega Conversion from LPG to Induction Stove to Achieve Indonesia’s Clean Energy Transition. IAEE Online Conference.
  • Kanugrahan, S.P., Hakam, D.F. (2023). Techno-Economic Analysis of Indonesia Power Generation Expansion to Achieve Net Zero Carbon 2050. IAEE Online Conference.
  • Haryadi, F.N., Hakam, D.F. (2023). The Analysis of Electric Vehicle Charging Station Users: Case Study of Indonesia Electricity Market. IAEE Online Conference.
  • Haryadi, F.N., Hakam, D.F., Ajija, S.R. (2023). Analysis of Market Characteristics and Promotion Strategy of Rooftop PV in Indonesia. IAEE Online Conference.
  • Hakam, D.F., Triani, M., Wirasangka, I.P., Aisyah, S. (2022). Economic Simulation of Indonesia’s Clean Energy Policy: Shifting from LPG to Induction Stove. 2nd Faculty of Industrial Technology International Congress (FoITIC), Itenas, Bandung.
  • Hakam, D.F. (2022). Optimising the Mix and Structure of Power Generation Market: Ex-Ante Analysis of Sumatra Power System. The 7th IAEE Asian Conference, University of Auckland, New Zealand.
  • Haryadi, F.N., Ajija, S.R., Hakam, D.F., Simaremare, A.A., Damanik, N., Indrawan, H. (2022). Analysis of P.V. Rooftop Residential in Indonesia's Electricity Market. The 7th IAEE Asian Conference, University of Auckland, New Zealand.

Industry & Policy Engagement

  • Consultancy experience (e.g., working with companies, government agencies, or NGOs) - Provided expert consultancy to PT PLN (Persero), Pertamina, and Perusahaan Gas Negara (PGN) on energy investment, risk management, electric vehicle adoption, and renewable energy integration. - Contributed to strategic studies with the Ministry of Energy and Mineral Resources (ESDM) on electricity pricing, national energy transition, and regulatory reform. - Involved in feasibility assessments and strategic planning for the Garuda Indonesia financial restructuring initiative.
  • Applied tools or frameworks (e.g., Lean Six Sigma, Business Model Canvas, etc.) - Applied Input-Output Modeling, Real Options Valuation (ROV), and Multi-Criteria Decision-Making (MCDM) tools for investment feasibility and policy evaluation. - Used RETScreen for techno-economic analysis of solar PV and clean energy projects. - Implemented Business Model Canvas and project finance frameworks for strategic assessment of power and energy infrastructure.
  • Policy papers / white papers (e.g., authored or contributed to policy recommendations, government reports, etc.) - Authored policy briefs on Indonesia’s energy transition, electricity tariff optimization, and ESG integration in corporate strategy. - Published white papers for PLN on topics such as LPG-to-induction stove conversion, rooftop solar policy, and electric vehicle development. - Contributed to journal articles offering policy insights on net zero, carbon pricing, and clean energy pathways.
  • Collaborative projects involving business, government, or community stakeholders - Led cross-sectoral studies involving PLN, academic researchers, and regional stakeholders on the Sumatra–Batam–Bintan and Sumatra–Bangka interconnection projects. - Coordinated research on youth perception of electric vehicles and hydrogen technology to inform national energy transition policy. - Supported policy-oriented projects in underserved regions, including the application of solar PV and financial literacy programs in 3T areas.
  • Workshops or training delivered for industry or policymaking institutions - Delivered executive training for PLN on financial and investment decision-making, energy market regulation, and sustainability finance. - Conducted technical workshops for stakeholders on electricity market modeling, risk quantification, and energy policy design. - Designed training modules on economics, policy, and project valuation for capacity building in the energy sector.