Mitsui & Co Give Funds 33 Million US Dollars To Xurya

Illustration. (Photo: Unsplash)

JAKARTA - Startup providers of rental services and installation of Solar Power Plants (PLTS), PT Xurya Daya Indonesia (Xurya) received additional series A funding from Japanese companies Mitsui & Co. (Mitsui) and PT Surya Semesta Internusa Tbk (SSIA). The amount of funds that have been obtained reached 33 million US dollars or equivalent to Rp510 billion on October 20, 2022.

"We will allocate this funding support for the expansion of PLTS development to accelerate the clean and sustainable energy transition for companies in Indonesia. Mitsui and Surya Semesta Internusa are also Xurya's strategic partners to reach companies in Indonesia," said Managing Director and Co-Founder of Xurya Eka Himawan in a statement to the media, Friday, October 21.

Eka added that Xurya plans to allocate funding for the expansion of PLTS development which has grown three times since early 2022.

In addition, these funds will also be used for technological developments and increase human resources to boost the company's performance in accelerating the implementation of renewable energy for clean and sustainable energy in Indonesia. Especially at this time, the Ministry of Mineral Resources Energy (ESDM) has targeted a new and renewable energy mix to reach 23 percent by 2025.

Hiromu Kayamori, GM Division Bisnis Hilir Baru Mitsui & Co said that his party is committed to developing and promoting new technologies and businesses that reduce environmental impacts globally.

"We aim to contribute to the growth of Xurya and Indonesia's decarbonization by utilizing our expertise developed around the world and our extensive network in Indonesia," said Hiromu.

For your information, Xurya previously received Series A funding amounting to 21.5 million US dollars in December 2021 from East Ventures (growth fund), Saratoga, Schneider Electric, and New Energy Nexus. With additional funding from Mitsui and PT Surya Semesta Internusa Tbk (SSIA), Xurya's total funding reached 33 million US dollars or equivalent to Rp501 billion.

By the end of September 2022, Xurya's business had grown very rapidly and has now operated a Roof PLTS in more than 60 companies and is in installation in more than 40 other companies.

President Director of PT Surya Semesta Internusa Tbk (SSIA), Johannes Suriadjaja, said that this funding is a form of support for his party to accelerate the use of new and renewable energy through the installation of solar panels (PLTS Roofs), one of which is in industrial areas.

"At the same time, our commitment is to create an inclusive and sustainable industrial area in Indonesia," concluded Johannes.