TBS Energi Utama finalizes financing for Indonesia’s second-largest floating solar power plant.
PT TBS Energi Utama Tbk (TBS) has successfully secured financing worth $23.3 million for its floating solar power plant (PLTS) project in Batam, marking a crucial step in Indonesia’s green energy transition. The Tembesi Floating Solar Power Plant, with a capacity of 35 MWac (46 MWp), is set to become the country’s second-largest floating solar project, following PLTS Cirata in West Java. The project, developed in collaboration with PLN Nusantara Power, is expected to be operational by Q4 2025, contributing to Indonesia’s renewable energy goals.
Indonesia is actively expanding its renewable energy capacity to meet its carbon reduction commitments. The Tembesi Floating Solar Power Plant represents a major milestone in the nation’s shift towards clean energy, supporting both economic growth and environmental sustainability.
Major Financial Milestone Achieved
On March 6, 2025, TBS announced that the financial closing date (FCD) for the Tembesi Floating Solar Power Plant had been completed. This milestone follows an initial commitment agreement signed on December 16, 2024.
The $23.3 million financing package was secured through PT Sarana Multi Infrastruktur (SMI), a government-backed financial institution specializing in infrastructure investment. This funding will support the construction and integration of the floating solar power plant into Indonesia’s national electricity grid, benefiting Batam and surrounding regions.
Strategic Collaboration and Clean Energy Goals
The Tembesi Floating Solar Power Plant is being developed through TBS’s subsidiary, PT Nusantara Tembesi Baru Energi (NTBE), in partnership with PLN Nusantara Power. The plant, which will be located on the Tembesi Reservoir in Batam, is part of Indonesia’s broader strategy to enhance renewable energy production and reduce dependence on fossil fuels.
TBS President Director Dicky Yordan emphasized the company’s commitment to sustainable energy, stating:
“This achievement is proof of our dedication to a greener future. Reaching the financial closing date for this project is not just a business milestone—it is a crucial step in Indonesia’s energy transition.”
Construction and Energy Distribution Plans
Following the completion of financing, the Tembesi Floating Solar Power Plant will now move into the construction phase, with commercial operations expected by the end of 2025.
Once operational, the plant will be connected to the PLN Batam electricity network, supplying renewable energy to businesses and households across the region. This project aligns with Indonesia’s long-term goal of increasing the share of renewable energy in its national energy mix.
Additionally, this project complements TBS’s broader expansion into renewable energy, alongside the recent commercial operation of the Sumber Jaya Mini Hydro Power Plant (PLTM) in Lampung, which has a capacity of 6 MW.
Support from Financial and Industry Partners
The Tembesi Floating Solar Power Plant has attracted strong backing from Indonesia’s leading financial institutions, including Bank Mandiri and PT SMI.
Heru Eko Prasetyo, SVP Corporate Banking 3 of Bank Mandiri, highlighted the bank’s commitment to sustainable financing, stating:
“We want to ensure that green energy projects like the Tembesi Floating Solar Plant can develop optimally. This aligns with Bank Mandiri’s vision of fostering a more inclusive and sustainable energy ecosystem.”
Similarly, PT SMI’s President Director, Reynaldi Hermansjah, reiterated the institution’s focus on clean energy development, saying:
“Supporting renewable energy projects like this is part of our long-term mission to accelerate Indonesia’s transition towards sustainable energy solutions.”
The Tembesi Floating Solar Power Plant represents a landmark project in Indonesia’s renewable energy sector, demonstrating the country’s commitment to sustainable power generation. With $23.3 million in secured financing, the project is set to play a crucial role in expanding Indonesia’s clean energy capacity, reducing carbon emissions, and strengthening energy security.
This development is a positive signal to global investors, reinforcing Indonesia’s potential as a hub for renewable energy investment. The successful implementation of TBS’s solar project in Batam could pave the way for further advancements in floating solar technology across the region.
Sources: Warta Ekonomi (2025), IDN Financials (2025)
Keywords: Indonesia, Renewable Energy, Floating Solar, TBS Energi, Sustainable Investment
