JAKARTA – After launching its U-Solar program in October 2019, PT Bank UOB Indonesia, a part of UOB Group, is ready to reveal its U-Solar 2.0 program to the public, in order to expand the scope of its sustainable financing.

Similar to its predecessor, U-Solar 2.0 still aims to facilitate access towards an integrated solar energy financing, catering from developers to end-users. This solar panel installation financing program could also be adopted by corporate/industrial segment, as well as household/residential segment.

However, the upgrade of the program lies in the focus in facilitating the solar panel contractors and property developers during the equipment purchase from suppliers. UOB will assist contractors and developers to acquire the required equipment with financing schemes that will not disrupt their cash flow.

According to the press release of Bank UOB today (25/7), the participants of U-Solar program has reached 200 companies and 1,700 houseowners. “Until the first half of 2023, our ESG financing portfolio had reached IDR 3.5-4 trillion, whereas the solar energy portfolio keeps growing. Now, it comes around to IDR 160 billion,” Susanto Lukman, Executive Director of Wholesale Banking of UOB Indonesia, explained.

“We plan to increase it to IDR 5 trillion within the next three years,” added Harapman Kasan, Director of Wholesale Banking of UOB Indonesia, during the press conference of the launch of U-Solar 2.0 today (25/7). He also said that his company is optimistic that UOB may achieve beyond the specified target. (ZH)