Arkora lands $9.8M loan to fund Batam solar plant weeks after acquisition
What's the deal? PT Arkora HydroDealroom has a profile for this one. Try Dealroom → (ARKO), an Indonesian renewable energy company affiliated with Astra GroupDealroom has a profile for this one. Try Dealroom → and HapsoroDealroom has a profile for this one. Try Dealroom →, has secured a $9.8 million (US$11.4M) credit facility from state-owned infrastructure financier PT Sarana Multi Infrastruktur (Persero)Dealroom has a profile for this one. Try Dealroom →. The debt will finance a solar power plant in Batam owned by ARKO's indirect subsidiary, PT Endorshine Energy Solutions (EES)Dealroom has a profile for this one. Try Dealroom →.
Why now? The loan follows fast on ARKO's expansion into solar. It acquired a 100% stake in EES in late August 2026, then signed a power purchase agreement for electricity from the plant, which serves an industrial estate in Batam.
What's the endgame? The plant has already commenced commercial operations. "The agreement is intended to finance a solar power plant project owned by EES that has commenced commercial operations," corporate secretary Ricky Hartono said in a statement to the Indonesia Stock ExchangeDealroom has a profile for this one. Try Dealroom →.
By the numbers: In the first half of 2026, ARKO posted net profit of US$2.39M on revenue of US$8.66M. Total assets stood at US$113.3M at the end of June.
Hartono said the facility would have a positive impact on ARKO's operations and financial performance.
The signal: A quick pivot from acquisition to project financing shows ARKO moving fast to bankroll its move beyond hydro into solar, with state-backed capital underwriting the shift.
Read more: idnfinancials.com
Image credit: portland general
