PT SMI Disburses Rp 950 Billion Sharia Loan to Indika Energy Subsidiaries

PT Sarana Multi Infrastruktur (SMI) has channeled Rp 950 billion in sharia-compliant financing to PT Indika Empat Mitra Surya (IEMS) and PT Empat Mitra Indika Cahaya (EMIC), subsidiaries of Indika Energy Group. This funding is earmarked for the development of solar power plant (PLTS) projects at various locations throughout Indonesia.

Sylvi J. Gani, Director of Financing and Investment at PT SMI, stated that sharia financing instruments offer a competitive solution to expedite the adoption of solar power, particularly within the rapidly growing commercial and industrial market segments. The financing utilizes a Line Facility Musyarakah Mutanaqisah (MMq) scheme for sharia refinancing of PLTS projects. These projects will be leased to partners, offtakers, and end-users in the commercial and industrial (C&I) sector across Indonesia.

This collaboration signifies an expansion of PT SMI's strategic relationship with Indika Energy Group and strengthens the company's sharia financing portfolio in the new and renewable energy infrastructure sector. Gani highlighted PT SMI's increasing role in providing innovative financing solutions to support the energy transition.

Yovie Priadi, Director of PT IEMS and PT EMIC, views the financing from PT SMI as a crucial foundation for accelerating the expansion of Indika Energy Group's solar projects. He explained that PT SMI's support enhances their capability to broaden PLTS services without requiring initial investment from customers, thereby enabling more industries to switch to clean energy faster and more efficiently. This business model aligns with national efforts to increase the proportion of renewable energy in the national energy mix and promote energy cost efficiency for businesses.