JAKARTA: State-owned infrastructure financier PT Sarana Multi Infrastruktur (SMI) has signed an investment financing agreement with PT Greenroof Energy Indonesia (GREI) valued at 125 billion rupiah (US$7mil) to help refinance operational rooftop solar power projects.
Signed on May 22 in Jakarta, the agreement is part of SMI’s efforts to support Indonesia’s energy transition and expand green financing for renewable energy projects, particularly in the commercial and industrial sectors.
GREI is a member of CN Green Roof Asia Pte Ltd, a joint venture backed by The Hague-based Climate Fund Managers through Climate Investor One (CI1) and the Norwegian Investment Fund for Developing Countries (Norfund).
It focuses on solar and energy storage investments across Indonesia, Vietnam and the Philippines.
CI1 is a US$1bil blended finance facility that focuses on renewable energy infrastructure in emerging markets.
It is supported by public and private investors, including the European Commission’s Global Gateway initiative.
Norfund, which invests in sustainable development projects in developing countries, recorded more than US$4bil in investment commitments across South-East Asia, sub-Saharan Africa and Central America in 2024, with around 40% of its portfolio allocated to green energy projects.
SMI financing and investment director Sylvi Juniarty Gani said the agreement reflected the company’s commitment to accelerating Indonesia’s energy transition while strengthening the country’s green financing ecosystem.
“PT SMI continues to support renewable energy development through sustainable and impactful financing,” she said last Friday.
“The collaboration with PT GREI is expected to expand the use of solar energy in the commercial and industrial sectors while strengthening Indonesia’s efforts to achieve its energy transition and carbon emission reduction targets.”
GREI director Eduardus Pandik said the financing would support the company’s efforts to expand solar power development in Indonesia, in line with the government’s target to increase the share of renewables in the national energy mix.
“Moreover, we believe the use of solar energy not only provides environmental benefits but also creates energy efficiency and opens broader opportunities for green economic growth,” Eduardus said last Friday.
GREI provides solar and energy storage solutions by offering long-term financing schemes without up-front investment from customers.
Under this model, investment, installation, operational, and maintenance costs for solar power systems are covered.
Meanwhile, CN Green Roof Asia aims to expand its solar capacity across South-East Asia from 110MW to 500MW in the next five years.
The partnership also strengthens SMI’s role as manager of the country’s Energy Transition Mechanism platform through financial support for green and energy transition projects, particularly as Indonesia seeks to accelerate progress toward its net-zero target.
Established in 2009, SMI falls under the Finance Ministry and serves to facilitate sustainable development via commercial finance, public financing and project advisory services.
The company’s financing portfolio stood at 94.5 trillion rupiah in December 2025, supported by a low net nonperforming loan ratio of 0.45% and continuing profit growth. — The Jakarta Post/ANN
