PT SMI Channels Rp950 Billion Sharia Credit to Indika Energy Subsidiaries to Support Clean Energy
PT Sarana Multi Infrastruktur (Persero), or PT SMI, has strengthened its commitment to green financing in order to accelerate the national energy transition. The state-owned enterprise under the Ministry of Finance has officially disbursed sharia-compliant financing worth Rp950 billion to two subsidiaries of the Indika Energy Group, namely PT Indika Empat Mitra Surya (IEMS) and PT Empat Mitra Indika Cahaya (EMIC). The substantial allocation of funds is specifically aimed at supporting the development and installation of solar power plant projects in various strategic locations across Indonesia, targeting the commercial and industrial market segment. PT SMI Director of Financing and Investment Sylvi J. Gani explained that the funding structure uses a Line Facility Musyarakah Mutanaqisah (MMq) scheme. This instrument is intended for sharia refinancing activities for solar power projects that will be leased to partners, offtakers, and end-users in various regions. “Sharia financing instruments can be a competitive solution to accelerate the adoption of solar power in the commercial and industrial market segment, which is experiencing increasingly rapid growth,” said Sylvi in an official statement. Sylvi added that this collaboration marks the expansion of PT SMI’s strategic relations with the Indika Energy Group, whilst simultaneously strengthening the company’s green financing portfolio in the electricity infrastructure sector based on new and renewable energy. At the same occasion, Director of PT IEMS and PT EMIC Yovie Priadi assessed that the liquidity injection from PT SMI serves as a crucial foundation for accelerating the expansion of Indika Energy Group’s solar panel portfolio. Through the MMq scheme, IEMS and EMIC can broaden the scope of solar power construction and leasing without burdening businesses or end-users with large initial investment capital. “The financing support from PT SMI will strengthen the company’s ability to expand solar power services without upfront investment for customers. Thus, more industrial players can switch to clean energy more quickly and efficiently,” said Yovie. This lease-to-use business model is considered aligned with the government’s national energy mix target, whilst helping the industrial sector achieve operational cost efficiency for electricity consumption amid global electricity dynamics. This strategic alliance further underscores the central role of PT SMI, which has been appointed by the government as the manager of the national Energy Transition Mechanism Country Platform. As a green financing aggregator, PT SMI’s track record in supporting decarbonisation is extensive. Authorities noted that as of March 2026, PT SMI had disbursed a total accumulated financing of Rp27.6 trillion specifically to fund various renewable energy projects across the country. The ceremonial signing of the multi-billion rupiah financing agreement was officially completed by Sylvi J. Gani and Yovie Priadi on Thursday, 4 June 2026, at the PT SMI Head Office, Sahid Sudirman Center, Jakarta.