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Greenlogue/AP TotalEnergies and Abu Dhabi Future Energy Company PJSC – Masdar have signed a binding agreement to create a $2.2 billion joint venture that will combine their onshore renewable energy activities across nine Asian markets, in a move that underlines how large energy groups are shifting capital towards power demand growth in the region. The partners said the new platform will be owned equally, based in Abu […]
The agreement marks the next phase of cooperation between Green SM Indonesia and BCA, reflecting a shared commitment to supporting sustainable, well-governed business development in Indonesia’s urban mobility sector.
The investment loan facility is intended to support Green SM Indonesia’s operational readiness and service continuity. The facility provides a stable financial structure to underpin the company’s disciplined growth approach and support consistent service delivery across its existing urban operations.
The signing builds on earlier cooperation between the two parties, which began with Green SM’s market launch in Jakarta in December 2024. Since then, BCA and Green SM Indonesia have collaborated on customer-focused programs and initiatives to improve service accessibility and raise awareness of environmentally responsible transportation solutions. The transition from cooperation activities to a formal financing arrangement reflects the maturation of this partnership and BCA’s support in Green SM Indonesia’s operational model and governance standards.
The cooperation also reflects BCA’s broader role in supporting business sectors that are adapting to evolving urban development needs, including shifts toward more efficient and forward-looking mobility solutions.
Representing BCA, Mr. Denny Haryanto, SVP Corporate Banking BCA said: “This agreement reflects our approach to supporting businesses with a long-term outlook. Sustainable transportation is increasingly important to Indonesia’s urban development. Through this cooperation, we support initiatives that align with long-term economic resilience and environmental responsibility.”
Mr. Deny Tjia, Managing Director of Green SM Indonesia, said the agreement reflects trust built through consistent cooperation and shared values. “The investment loan agreement reflects recognition of the disciplined operating model and long-term development orientation that Green SM Indonesia has pursued since its early stages. The facility further strengthens the company’s financial foundation, supporting stable and consistent service delivery across the cities where it operates.”
Since commencing operations, Green SM Indonesia has established a presence in several major urban centers, including Jakarta, Makassar, Bekasi, Surabaya, and Bali. These cities face increasingly complex urban mobility requirements alongside rising expectations for cleaner, more responsible transport solutions. In the Indonesian market, Green SM provides all-electric taxi services that support routine urban travel while reducing emissions and noise. The company’s operating approach emphasizes reliability, professional service standards, and scalability aligned with city-level transport planning.
Through this agreement, Green SM Indonesia and BCA reaffirm their shared view that the transition to sustainable urban mobility requires not only electric vehicle technology but also sound financial structures, responsible governance, and long-term commitment. The investment loan agreement is a practical step to support that transition in Indonesia’s evolving mobility landscape.
Hashtag: #GreenSM
The issuer is solely responsible for the content of this announcement.
GSM (Green Smart Mobility) is the world’s first company to operate an all-electric ride-hailing service across multiple platforms. As a pioneer in sustainable transportation, GSM has built the foundation for a cleaner, smarter, and more responsible mobility model powered entirely by VinFast electric vehicles. GSM is committed to developing a future-ready mobility ecosystem and inspiring greener lifestyles in countries rapidly embracing sustainability.
Green SM is GSM’s official global brand, representing the company’s vision and values in every market it serves. In Southeast Asia, Green SM operates in Indonesia; under the name Xanh SM in Vietnam and Laos; and as Green GSM in the Philippines. Across all markets, the brand offers a refined travel experience with VinFast electric cars, professional drivers, and a service culture centered on safety and care.
Green SM represents progress toward a future where technology, the environment, and humanity advance together in harmony. The brand is committed not only to providing zero-emission transportation but also to fostering an environmentally conscious society in every market it serves.
Masdar and TotalEnergies have signed a binding agreement to combine their onshore renewable energy portfolios across nine Asian markets into a 50:50 joint venture valued at $2.2 billion, marking one of the more significant cross-border clean energy tie-ups involving Gulf and European players this year. The new platform, to be headquartered in Abu Dhabi, is set to become the exclusive vehicle through which the two companies develop, […]
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