Solar energy developer PT Surya Utama Nuansa (SUN Energy) has established partnership with PT Bank SMBC Indonesia (SMBC Indonesia) through the provision of a US$10 million Multi Option Trade Facility for the procurement of raw materials and expansion of solar energy projects in the commercial and industrial (C&I) sector.
Head of Wholesale, Commercial, and Transaction Banking at SMBC Indonesia, Nathan Christianto, said that his party continues to channel green financing for various sustainable projects, including renewable energy.
“As a leading player in solar power projects, SUN Energy has an objective alignment with SMBC Indonesia to encourage the development of green businesses,” Nathan said in a statement as quoted on Monday, December 23, 2024.
SMBC Indonesia recorded sustainable loan disbursement of almost Rp17.3 trillion (US$1.1 billion) until the end of September 2024, an increase by 18 percent compared to the same period last year.
Group Head of Corporate Finance at SUN Energy, Vicky Lono, expressed his appreciation for this support.
“This facility provides the flexibility we need to continue to innovate and expand our solar energy project portfolio. We are committed to driving a cleaner and more sustainable energy future,” Vicky said.
This collaboration emphasizes the role of the private sector in supporting the energy transition towards a sustainable future.
This financing facility is designed to meet the various needs of SUN Energy. Some of the main features offered include Letter of Credit (LC) to facilitate international payments for raw material procurement.
Then, Bank Guarantee to provide financial guarantees in the auction and tender process. And Provide operational funding to support project continuity or Working Capital Loans.
This funding will be allocated for two main needs, namely procurement of solar energy raw materials and increasing competitiveness in various strategic project tenders.
With this financial support, SUN Energy ensures the continuity of important projects and strengthens the company’s position as a leader in the renewable energy sector.
More than just meeting operational needs, this collaboration supports SUN Energy’s long-term vision in driving energy transformation in Indonesia.
This collaboration reflects the commitment of SUN Energy and SMBC Indonesia in supporting Indonesia’s energy transition.
