Led · Equity · Feb 2024

SUN Energy develops and leases solar photovoltaic (PV) installations to companies and industries, including shopping centers, under long-term lease agreements. The company was established in 2016 and focuses on commercial and industrial rooftop solar power generation. It reports more than 300 MWp of solar projects, with around 89 completed projects; three projects are in Thailand, Vietnam, and Australia, and 25 projects are spread across 25 Indonesian cities. SUN Energy says it has experienced significant business growth over the last three years and plans to use new financing to expand solar energy development and market reach across Indonesia. Recent financing activity forms part of its strategy to provide integrated solar energy services and scale project deployment. Surya Utamana Nuansa (SUN Energy) is an Indonesian company that installs photovoltaic (PV) solar systems. The article identifies the firm as a solar PV installer operating in Indonesia. DEG, the investment arm of German state-owned development bank KfW, has committed a $21-million long-term loan to the company. The financing was disclosed in a company disclosure. The $21 million is structured as a long-term loan to SUN Energy. The article does not disclose additional operating metrics, past funding rounds, or the use of proceeds.