Jakarta - PT TBS Energi Utama Tbk (TOBA), through its business entity, PT Toba Bara Energi (TBAE), has invested in Solar United Network Pte Ltd (SUN), a Singaporean company.

"This investment is carried out by taking part of the new shares issued by SUN as many as 523,703 shares, with an investment value of US$ 8.002 million," said TOBA President Director Dicky Yordan in information disclosure on Friday (3/12).

The company will use proceeds from the share issuance to expand SUN's business in the renewable energy sector.

The investment made through TBAE in SUN is a form of implementing the company's business development strategy to eliminate the carbon footprint and achieve the target of net zero emissions by 2030.

"The company's investment in SUN does not affect operational activities that are currently running and in the long term will provide additional income and strengthen the company's financial condition,&qu