Towards a Better Society

TBS began its journey in 2007 as PT Buana Persada Gemilang, later adopting the name PT Toba Bara Sejahtra Tbk in 2010 as it grew its coal business through three adjacent mining concessions in Sangasanga, East Kalimantan. The company listed on the Indonesia Stock Exchange in 2012 and continued to expand, acquiring the PKU palm oil plantation in 2013 and constructing its palm oil mill, which has been operating since 2016.

A major shift started in 2016 when TBS entered the power sector by developing the Sulbagut-1 and Sulut-3 coal-fired power plants through GLP and MCL. This momentum led to the acquisition of a minority stake in Paiton Energy in 2018. Two years later, in 2020, TBS adopted a new name — PT TBS Energi Utama Tbk — marking its strategic pivot toward sustainability and clean energy. The company expanded into renewables by acquiring AEH (mini-hydro) and BAS (wind).

In 2021, TBS launched TBS2030, its commitment to achieve carbon neutrality by 2030, joined the UN Global Compact, and formed Electrum with Gojek (GoTo) to accelerate Indonesia’s electric motorcycle ecosystem. Both GLP and MCL also reached commercial operations in the same year.

From 2023 onward, TBS accelerated its transition into a low-carbon business. The company expanded its waste-management platform across Singapore and Indonesia through AMES and ARAH Environmental, advanced renewable projects including floating solar, and supported EV adoption through Electrum’s e-motorcycle launches and green financing. In 2024–2025, TBS finalized the divestment of both coal-fired power plants, completed the acquisition of Sembcorp Environment (now CORA Environment), commenced AEH’s mini-hydro operations, launched the TBS Foundation, and unveiled a new corporate identity — reaffirming its transformation into a business built on waste management, electric mobility, and renewable energy. 

Each of these milestones reflects our evolution toward sustainable energy