Xurya, a rooftop solar rental company in Indonesia, has received an additional US$55 million investment led by the Norwegian Climate Investment Fund managed by Norfund.
Swedfund, Clime Capital, British International Investment (BII), and AC Ventures also participated.
Also Read: Xurya closes US$21.5M Series A to construct rooftop solar power plant in Indonesia
This brings Xurya’s total funding raised to date to over US$90 million.
Eka Himawan, Managing Director at Xurya, said: “With the support from these world-class investors, we are not only going to continue producing innovations that will support a sustainable national energy transition, but we also aim to transform into a world-class company in the next few years.”
Launched in 2018, Xurya is a renewable energy company that seeks to revolutionise the local energy industry with its no-upfront rental method to incentivise commercial and industrial companies to switch to solar energy.
Xurya offers funding options, technical design, feasibility studies, installation, operation and maintenance to clients.
To date, the startup has installed and operated rooftop solar at over 100 companies, from various industrial segments, such as hotels, shopping centres, hospitals, cold storage, logistics, industrial areas, and manufacturing. Its solar systems are distributed across Indonesia, from North Sumatra, South Sumatra, Lampung, DKI Jakarta, Banten, West Java, Central Java, East Java, Bali, South Kalimantan and South Sulawesi.
Also Read: This startup aims to make rooftop solar accessible to smaller households with zero upfront cost
According to the company, its solar systems have prevented carbon emissions by 152,000 tons of CO2 per year and generated more than 1,600 green jobs.
In 2022, Xurya received US$33 million in funding from East Ventures, Mitsui & Co., Saratoga, PT Surya Semesta Internusa Tbk, Schneider Electric, and New Energy Nexus. GoTo Ventures is also among Xurya’s early investors.
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Image Credit: Xurya.
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