Renewable Energy Rising: Xurya's $55 Million Boost
July 3, 2024, 3:34 am
Location: Indonesia, Jakarta Special Capital Region
Employees: 51-200
Founded date: 2018
Total raised: $55M
In a significant development for the renewable energy sector, PT Xurya Daya Indonesia (Xurya) has secured a substantial $55 million investment from the Norwegian Climate Investment Fund. This latest funding injection marks a pivotal moment for Xurya, a company dedicated to providing rooftop solar rental solutions without the burden of upfront costs in Indonesia.
The announcement, made public on Monday, revealed that the Norwegian Climate Investment Fund, managed by Norfund, played a key role in facilitating this investment. Other notable contributors to this funding round include Swedfund, British International Investment (BII), Clime Capital, and AC Ventures.
With this latest financial backing, Xurya's total capital raised now exceeds $90 million, underscoring the confidence and support the company has garnered from investors. Notably, Swedfund and the Norwegian Climate Investment Fund have directly invested in Xurya, making it the first renewable energy company in Indonesia to receive such backing.
Furthermore, this investment signifies a significant milestone for BII, the impact investor and DFI for the United Kingdom, as it marks their first equity investment in Indonesia under their 2022–2026 investment strategy. The return on investment for Clime Capital and AC Ventures further underscores the promising trajectory of Xurya in the renewable energy landscape.
Eka Himawan, the managing director of Xurya, expressed enthusiasm about the additional funding, emphasizing that it will enable the company to compete on a global scale. He highlighted the importance of collaboration with world-class investors in driving innovation and supporting a sustainable energy transition.
"As we continue to pioneer rooftop solar rental solutions without upfront costs, we are committed to leveraging these investments to propel our company to new heights," Himawan stated. "Xurya is poised to become a leading force in the renewable energy sector, working collaboratively with stakeholders to achieve our shared goal of sustainability."
Since its inception in 2018, Xurya has been at the forefront of innovation in the renewable energy space. The company's groundbreaking initiatives, such as integrating machine learning into solar operations and utilizing the Internet of Things (IoT) for remote solar management in Indonesia, have set new benchmarks for the industry.
Xurya's contribution to the rapid growth of rooftop solar adoption in Indonesia, particularly in commercial and industrial sectors, underscores its pivotal role in driving sustainable energy solutions. With a strong foundation of support from investors and a commitment to ongoing innovation, Xurya is poised to transform into a global leader in the renewable energy landscape, shaping a more sustainable future for all.
The announcement, made public on Monday, revealed that the Norwegian Climate Investment Fund, managed by Norfund, played a key role in facilitating this investment. Other notable contributors to this funding round include Swedfund, British International Investment (BII), Clime Capital, and AC Ventures.
With this latest financial backing, Xurya's total capital raised now exceeds $90 million, underscoring the confidence and support the company has garnered from investors. Notably, Swedfund and the Norwegian Climate Investment Fund have directly invested in Xurya, making it the first renewable energy company in Indonesia to receive such backing.
Furthermore, this investment signifies a significant milestone for BII, the impact investor and DFI for the United Kingdom, as it marks their first equity investment in Indonesia under their 2022–2026 investment strategy. The return on investment for Clime Capital and AC Ventures further underscores the promising trajectory of Xurya in the renewable energy landscape.
Eka Himawan, the managing director of Xurya, expressed enthusiasm about the additional funding, emphasizing that it will enable the company to compete on a global scale. He highlighted the importance of collaboration with world-class investors in driving innovation and supporting a sustainable energy transition.
"As we continue to pioneer rooftop solar rental solutions without upfront costs, we are committed to leveraging these investments to propel our company to new heights," Himawan stated. "Xurya is poised to become a leading force in the renewable energy sector, working collaboratively with stakeholders to achieve our shared goal of sustainability."
Since its inception in 2018, Xurya has been at the forefront of innovation in the renewable energy space. The company's groundbreaking initiatives, such as integrating machine learning into solar operations and utilizing the Internet of Things (IoT) for remote solar management in Indonesia, have set new benchmarks for the industry.
Xurya's contribution to the rapid growth of rooftop solar adoption in Indonesia, particularly in commercial and industrial sectors, underscores its pivotal role in driving sustainable energy solutions. With a strong foundation of support from investors and a commitment to ongoing innovation, Xurya is poised to transform into a global leader in the renewable energy landscape, shaping a more sustainable future for all.