Tamaris Hydro Targets Up to IDR 1 Trillion to Strengthen National Renewable Energy Portfolio
Jakarta – Private hydropower plant developer and operator PT Tamaris Hidro is conducting a Public Offering of Sustainable Sukuk Ijarah I Tamaris Hydro Phase I Year 2026, with a maximum issuance value of IDR 1 trillion. The sukuk issuance is part of the company’s long-term funding strategy to strengthen its capital structure, improve financing efficiency, and expand its contribution to the development of new and renewable energy in Indonesia.
President Director of Tamaris, M Syahrial, stated that the issuance of Sustainable Sukuk Ijarah I Tamaris Hydro Phase I Year 2026 is part of PT Tamaris Hidro’s long-term commitment to supporting the acceleration of Indonesia’s energy transition. “Through this sharia instrument, we present a competitive investment alternative while providing an opportunity for investors to participate directly in the development of sustainable clean energy infrastructure,” Syahrial said in a statement on Friday, 19 June 2026.
The Sustainable Sukuk Ijarah I Tamaris Hydro Phase I Year 2026 has obtained an idAA(sy)(sf) rating from PT Pemeringkat Efek Indonesia (PEFINDO), supported by a Credit Enhancement Facility from PT Sarana Multi Infrastruktur (Persero) with a maximum standby facility of IDR 450 billion. The sukuk consists of Series A with a 5-year tenor and Series B with a 7-year tenor, with ijarah returns paid quarterly according to a predetermined schedule.
The ijarah object is the beneficial rights over the company’s power plant capacity of 1.83 billion kWh, which generates recurring income from long-term power purchase agreements with PT PLN (Persero). Proceeds from the sukuk issuance will be used to refinance a portion of the syndicated bank loans for the company’s commercially operating power plants, aiming to improve funding cost efficiency and strengthen the company’s financial position.
The issuance is supported by PT BCA Sekuritas, PT Binaartha Sekuritas, PT INA Sekuritas Indonesia, and PT BRI Danareksa Sekuritas as Joint Lead Underwriters.