TML Energy – Diversifying power

As the global drive towards net zero continues to take centre stage, an increasing number of businesses—from micro-enterprises to large corporations—have started to transition towards more sustainable practices like switching to clean energy. However, one of the main challenges faced is the upfront cost.

While the price of installing solar panels has decreased over the years, it is still a substantial long-term investment for businesses already battered with rising operational costs. To help more businesses transition to solar energy, UOB takes a holistic ecosystem approach to financing solar projects, through its U-Solar financing programme, from end-users to established suppliers like TML Energy.

TML Energy is a leading EPC (engineering, procurement, and construction) player within Indonesia’s solar energy sector, servicing a wide range of clients across state-owned companies, commercial businesses and residential owners. UOB’s tailored financing solutions supported its construction of a two-megawatt power plant in North Sumatra and a series of solar panels on the rooftops of 35 gas stations for Pertamina – the country’s state-owned energy corporation.

TML’s SME clients like Charlotte Beauty Lounge were also able to tap UOB's U-Solar solution and seamlessly transit to solar power, reaping the longer-term benefits of clean energy for business and the environment.

With comprehensive solutions tailored to clients’ needs, UOB’s “One Bank” approach connects businesses to growth opportunities in the region, and beyond.

Transcript

Prama Imran Chusnun (CFO, TML Energy):

TML Energy is an EPC (Engineering Procurement, and Construction) company. We provide an end-to-end solution for all matters related to solar energy.

Charlotte Beauty Lounge is TML's customer. TML helped Charlotte Beauty Lounge in constructing a solar power plant on their rooftop, so that they can utilise solar power.

UOB is our partner who financed this project, and it is also Charlotte Beauty Lounge’s financial partner.

Charlotte Katoppo (Owner, Charlotte Beauty Lounge):

We contacted UOB and were introduced to the U-Solar product. Clearly, the benefit was significant because we can save the electricity usage and the bill as well. We use the electricity daily for 10 hours.

The financing support from UOB Bank is in instalment form. Therefore, with U-Solar, I can focus more on my business.

Susanto Lukman (Executive Director, UOB Indonesia):

U-Solar is a platform that can finance an integrated solar energy system which is the first in Asia. This platform is used to support or facilitate, as well as to promote sustainability awareness to the public and to our customers.

Since it was first launched up until July 2022, U-Solar has helped to decrease more than 180,000 tonnes of greenhouse gas emissions. This is equivalent to (removing) more than 40,000 operating cars on the streets (of Indonesia) for more than a year. This amount is equal to planting more than three million trees within ten years in countries that are UOB's prime market, such as Singapore, Malaysia, Thailand, and Indonesia.

Prama Imran Chusnun:

U-Solar has brought a lot of benefits to TML's customer base. With the support from UOB financial solutions, TML was able to build a 2-megawatt solar power plant in an industrial complex for Pertamina in North Sumatra. In addition, TML also built solar power panels on 35 gas station rooftops in five big cities in Indonesia.

Susanto Lukman:

At UOB Indonesia, we help our customers in their transition to low carbon economy so as to help reduce carbon emissions and achieve the climate resistance in Indonesia and other regions.

About this series

Building Asia is a collection of business stories on CNA that examines the financial forces driving Asia’s position as an economic powerhouse.

TML Energy – Diversifying power was first aired on 30 January 2023 under the Building Asia with UOB series. It highlights how Indonesian-based TML Energy, together with its clients, have benefited from UOB’s U-Solar programme – a financing solution that provides holistic and seamless support for the transition to solar energy.