Singapore-based SUN Energy raises $25m in Series A funding round

Photo by Andres Siimon on Unsplash

Singapore-headquartered solar energy firm SUN Energy on Monday announced it has closed a $25 million Series A funding round that values it at $200 million.

The round was led by Southeast Asian conglomerates including Indonesian mining company TBS Energy, which invested through subsidiary PT Toba Bara Energi (TBAE).

PT Delta Dunia Makmur, the holding company of mining contractor PT Bukit Makmur Mandiri Utama (BUMA), and a group of undisclosed entrepreneurs in the region also participated in the round.

SUN Energy aims to use the proceeds from its Series A round to develop solar projects in Indonesia, expand capacity in the region and strengthen its platform.

“The potential for solar energy in Indonesia is prolific and we are excited for our Series A partners to join us on this transformational journey. We will continue to alter the renewable energy landscape in the region with ground-breaking projects and technology innovations,” SUN Energy chief executive Philip Lee said in a statement.

SUN Energy operates solar energy projects in Indonesia with a generation capacity of 200 MWp. It is also expanding into other markets such as Australia, Thailand, Vietnam and Taiwan. The firm recently announced the acquisition of Western Australia’s largest operating solar farm.

“As part of our commitment to developing clean and renewable energy solutions to empower a sustainable future, solar panel business is one of development focus as well as strategy to reduce our carbon footprint,” said TPB vice president director Pandu Sjahrir.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.