24 February 2024

SUN Energy Secures Rp500 Billion Project Financing Facility from PermataBank

Jakarta, February 23, 2024 – The trend of Green Financing continues to grow in line with the government's target to achieve Net Zero Emission (NZE) by 2060 through financing efforts that balance economic, environmental, and social aspects.

The banking industry in Indonesia is known to continually promote green financing efforts through the provision of credit to green sectors, one of which is PermataBank, taking significant steps through the disbursement of a green financing facility of Rp500 billion to SUN Energy for the development of solar energy projects in Indonesia.

Through the implementation of this green financing, PermataBank plays a strategic role in disbursing facilities for Renewable Energy Projects (EBT) as part of the bank's commitment to mitigate climate risks and reduce carbon emissions in banking activities.

Evi Hiswanto – Chief Corporate Banking PermataBank explained, “The collaboration with SUN Energy is one of our strategic commitments to increase environmentally friendly financing, involving clients to promote sustainable practices and support their transition to low-carbon and robust climate strategies. Especially with SUN Energy's reputation as one of the leading supporters of green facilities in Indonesia.”

During 2023, PermataBank's credit disbursement amounted to Rp142.2 trillion, driven by the growth of credit disbursement to Corporations amounting to Rp92.7 trillion. A continuous effort to grow and provide meaningful value to society.

PermataBank's support for energy transition efforts in Indonesia is welcomed by Dion Jefferson, Deputy CEO of SUN Energy, expressing his appreciation for PermataBank's steps, "We appreciate PermataBank's commitment to supporting the acceleration of solar energy utilization in Indonesia and the trust given to SUN Energy.

Over the past three years, we have experienced significant business growth. Therefore, the facility from PermataBank will be used for the expansion of solar energy development projects in Indonesia that we are currently and will be working on in the commercial and industrial sectors. SUN Energy hopes to continue providing integrated solar energy services to customers and expanding market reach to various regions in Indonesia," said Dion.

The agreed financing facility has demonstrated the optimism of both parties in the energy transition process through the provision of funding that aligns with efforts to mitigate climate change risks, such as energy transition. It is also expected to have a positive impact on both parties in creating a green business ecosystem to support the efforts and goals of sustainable development in Indonesia.

[Signing of SUN Energy Credit Facility by PermataBank] (left to right) Dion Jefferson, Deputy CEO of SUN Energy, and Evi Hiswanto, Chief of Corporate Banking at PermataBank.