<article>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.</article>

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,&#8221; 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.
&#8220;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,&#8221; said TPB vice president director Pandu Sjahrir.

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

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

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

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