Tamaris Hidro Targets Funds of Up to IDR1 Trillion to Strengthen National Renewable Energy Portfolio

Photo: Special

JAKARTA - PT Tamaris Hidro, one of the leading private hydropower plant developers and operators in Indonesia, carried out corporate activities, namely the Public Offering of Sustainable Ijarah Sukuk I Tamaris Hydro Phase I Year 2026 with an emission value of up to Rp. 1 trillion.

The issuance of this sukuk is part of the Company's long-term funding strategy to strengthen its capital structure, increase financing efficiency, and expand the Company's contribution to the development of renewable energy (RE) in Indonesia.

Islamic Instruments with Strong Structure

Sukuk Ijarah Berkelanjutan I Tamaris Hydro Tahap I Tahun 2026 obtained idAA(sy)(sf) rating from PT Pemeringkat Efek Indonesia (PEFINDO), which is supported by the Financing/Credit Enhancement Facility (CEF) from PT Sarana Multi Infrastruktur (Persero) with a maximum standby facility of IDR 450 billion.

This sukuk consists of:

Series A with a tenor of 5 (five) years Series B with a tenor of 7 (seven) years

The payment of ijarah rewards is carried out every 3 (three) months (quarterly) according to the schedule that has been set.

The ijarah object is the right to benefit from the power capacity of the plant owned by the Company of 1.83 billion kWh, which generates recurring income from long-term electricity purchase and sale contracts with PT PLN (Persero).

The proceeds from the issuance of sukuk will be used to refinance a portion of the syndicated bank loans on the Company's power plants that have been commercially operated (COD), so that it is expected to increase the efficiency of funding costs and strengthen the Company's financial position.

The issuance of the Sustainable Ijarah Sukuk I Tamaris Hydro Phase I Year 2026 is supported by PT BCA Sekuritas, PT Binaartha Sekuritas, PT INA Sekuritas Indonesia, and PT BRI Danareksa Sekuritas as Joint Lead Underwriters.

The Issuer Guarantor plans the Offering Schedule as follows:

Bookbuilding period: June 18 to June 24, 2026; Effective OJK Statement: June 30, 2026; Public Offering Period: July 2 to July 6, 2026; Allocation: July 7, 2026; KSEI Electronic Distribution: July 9, 2026; and Listing on the Indonesia Stock Exchange: July 10, 2026

Solid Business Fundamentals

In line with the increasing national demand for clean energy, the Company continues to show sustainable business growth.

In the 2025 financial year, the Company recorded:

Revenue of IDR 563.7 billion; EBITDA of IDR 389.2 billion; Total assets of IDR 5.18 trillion; and Total equity of IDR 2.53 trillion.

In the long term, the Company also recorded consistent growth with a CAGR of revenue of 23.87 percent, a CAGR of EBITDA of 28.45 percent, and a CAGR of total assets of 20.07 percent since 2014.

Throughout 2025, the Company managed to complete the redemption of the Tamaris Hydro I Series A 2022 Bond worth IDR 200 billion by using the Company's internal cash and the implementation of the Batu Gajah Hydroelectric Plant acquisition with a contract capacity of 16 (sixteen) MW, which further strengthens the Company's portfolio of productive assets.

Green & Sustainable Islamic Investment

As a company focused on renewable energy, the Company's operations have made a significant contribution to reducing national carbon emissions. Based on the Company's internal calculations, the total contribution to greenhouse gas emission reduction (GHG Emission Reduction) reached approximately 551,550 tons of CO₂-equivalent in 2025, an increase compared to the emission reduction contribution in 2014 of 518,845 tons of CO₂-equivalent.

The Company actively carries out environmental rehabilitation programs through afforestation activities around the operational area of the plant. By the end of 2025, the Company has planted a cumulative total of 417,534 trees, an increase compared to the number of tree planting in the previous year, namely 359,375 trees.

In addition, the Company also carries out activities, among others, to maintain the sustainability of river basins (DAS), improve environmental conservation, and support the resilience of water resources which are the main foundation of the operation of hydroelectric power plants.

As part of the implementation of the principles of Environmental, Social and Governance (ESG) on an ongoing basis, the Company has implemented governance standards and management systems that refer to ISO 9001 and ISO 14001 certifications.

Supporting the National Renewable Energy Target

With the aim of supporting the target of achieving the EBT share of the Government of Indonesia which is 34.3 percent in 2034, the Company believes that hydropower plants will play an important role in achieving this target because they have the characteristics of clean energy that is stable, sustainable, and reliable as a baseload renewable energy source.

Through the issuance of Sustainable Ijarah Sukuk I Tamaris Hydro Phase I Year 2026, the Company hopes to expand investor participation in the development of national green energy infrastructure while creating sustainable added value for all stakeholders.

The President Director of the Company, M. Syahrial, said that the issuance of the Sustainable Ijarah Sukuk I Tamaris Hydro Phase I Year 2026 is part of PT Tamaris Hidro's long-term commitment to support the acceleration of Indonesia's energy transition.

"Through this Sharia instrument, we present a competitive investment alternative while providing investors with the opportunity to participate directly in the development of sustainable clean energy infrastructure," he said, Friday, June 19.