Hijau lands $10M from Clime Capital to expand Indonesian solar
What's the deal? Indonesian distributed solar developer PT Investasi Hijau SelarasDealroom has a profile for this one. Try Dealroom → (HijauDealroom has a profile for this one. Try Dealroom →) has raised $10 million in an early-stage round from Clime CapitalDealroom has a profile for this one. Try Dealroom →, a Singapore-based fund manager focused on the low-carbon transition. The investment comes through Clime's South East Clean Energy Fund II (SEACEF II).
What does Hijau do? Founded in 2017, the company builds rooftop solar projects for commercial and industrial customers under a zero capital expenditure model, letting electricity users tap clean energy via an operating lease.
What's the money for? The funds will accelerate the build-out of Hijau's project pipeline, positioning it to secure follow-on debt financing for long-term growth.
What's the endgame? "Their support will help us expand our green energy solutions across Indonesia while staying true to our focus on quality, safety, and sustainability," said Victor Samuel, president director at Hijau.
Why Clime? Clime Capital is registered with the Monetary Authority of Singapore and manages both SEACEF I and SEACEF II. It has an on-the-ground presence in Vietnam, India, Indonesia, the Philippines, and Singapore, with prior investments in Vietnamese cleantech firms including Levanta, EBOOSTDealroom has a profile for this one. Try Dealroom →, and Stride.
The signal: The deal sits above the mid-range for early-stage rounds, and it targets one of Southeast Asia's least developed solar markets. "Our early-stage investments support Indonesian businesses in reducing their energy expenditure while also advancing the clean energy transition," said John Colombo, Clime's Indonesia country manager.
Read more: startuprise.org
Image credit: PT. Investasi Hijau
