Indonesia-based renewable energy startup Xurya has raised US$21.5 million in funding in a Series A round led by Saratoga Investama Sedaya and East Ventures (Growth Fund). The funding round also saw participation from Schneider Electric and Energy Nexus Indonesia (a wise energy-dedicated incubation and accelerator programme).
Xurya plans to use the fresh funding to proceed with the development of its Rooftop Photovoltaic Energy Plant (PLTS), which it claims has witnessed a three-times growth in 2021. The company will also be using the funds to develop expertise and human resources.
Founded in 2018 by Edwin Widjonarko and Eka Himawan, Xurya provides a renewable energy platform that offers not only commercial and industrial rooftop owners access to solar lease products but access to a stable and safe investment in rooftop solar plants to the investors as well. According to the company, both are achieved by maintenance service which provides both parties peace of mind.
Xurya’s “no funding” technique with a rental system makes it simpler for trade gamers to transition to photo voltaic vitality. Its “one-stop resolution” covers PLTS feasibility research, set up, operation, and upkeep.
To date, Xurya claims to have delivered more than 50 PLTS tasks with a multi-megawatt energy era portfolio. The company serves various industries including manufacturing (FMCG, F&B, metal, construction supplies, clothes, and textiles), logistics centres, cold storage, purchasing centres in several Indonesian cities, and inns.
The startup counts Traveloka, Tokopedia, Jakarta shopping centre Plaza Indonesia, and logistics major MGM Bosco among its clients.
PLTS is one of the many initiatives supported by President Joko Widodo to reduce dependence on fossil gas vitality. According to the country’s Nationwide Power plan, the government is making various efforts to carry the brand new and renewable vitality combine to 23 percent by 2025 and 31 percent by 2050.