Indonesian Rooftop Solar Firm Xurya Raises USD 55 Million in Funding Round

Indonesian rooftop installer Xurya has secured USD 55 million (EUR 50.9 million) in its latest round, led by development finance institutions (DFIs) from , , and the , alongside investors from Singapore and Indonesia.

Norway's Norfund, managing the Climate Investment Fund, contributed USD 25 million, while Swedfund invested USD 10 million in equity. British International Investment from the UK also participated as an equity investor. Singapore-based Clime Capital Ltd and Indonesian impact investor AC Ventures joined as returning investors.

Established in 2018, Xurya specializes in offering rooftop solar rental solutions to commercial and industrial (C&I) customers without upfront costs. The company claims to have pioneered this service in Indonesia and introduced internet-of-things technology for remote solar operations in the country.

Eka Himawan, Managing Director of Xurya, expressed optimism about the company's future global competitiveness with the support of these prominent investors. “With 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,” said Eka.

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