Heaptalk, Jakarta — PT TBS Energi Utama Tbk (TBS) has formalized a strategic partnership with the Asian Development Bank (ADB) and DBS Bank Indonesia to accelerate the adoption of electric motorcycles across Indonesia.
TBS company’s US$15 million financing package comprises US$5 million each from the Asian Development Bank, DBS Bank Indonesia, and the Australian Climate Finance Partnership (ACFP), managed by ADB. This investment will bolster TBS’s initiatives through PT Energi Kreasi Bersama (Electrum), its joint venture with PT Gojek Tokopedia Tbk (GoTo).
The $15 million will be utilized to procure electric motorcycles and expand battery-swapping station (BSS) networks nationwide. These initiatives aim to cut greenhouse gas emissions by up to 123,000 tons annually while offering sustainable, cost-effective, accessible mobility solutions.
Pandu Sjahrir, Co-CEO of TBS, emphasized the transformative potential of the financing. “This investment demonstrates strong confidence in Electrum’s capacity to advance Indonesia’s energy transition. By addressing challenges like high upfront costs and range limitations, Electrum will deliver practical solutions supported by a comprehensive battery-swapping network,” he stated.
This collaboration builds on DBS Bank Indonesia’s sustained efforts to promote green financing. In a previous initiative, DBS and Bank Mandiri facilitated a $33 million credit deal for TBS to acquire Asia Medical Enviro Services (AMES), a pioneer in medical waste management in Singapore. Furthermore, DBS Bank Indonesia’s membership in the Electric Mobility Ecosystem Association (AEML) underscores its commitment to advancing EV adoption in Indonesia.
Leveraging its regional Asian Connectivity network, DBS Bank Indonesia supports communities and businesses in achieving net-zero emissions, reflecting its vision of being the ‘Best Bank for a Better World.’ As a trusted advisor in sustainable financing, DBS continues to deliver innovative financial solutions tailored to the evolving needs of industries transitioning to green energy.
“We are honored to contribute to accelerating Indonesia’s electric vehicle adoption. Tackling climate change demands cohesive efforts across stakeholders. This initiative reflects our alignment with Green Loan Principles and our dedication to supporting Asia’s shift toward a sustainable future,” Heru Hatman, Executive Director, Institutional Banking Group PT Bank DBS Indonesia, said.
