MY energy company reNIKOLA to invest IDR 3.7 trillion in Indonesia

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Malaysia renewable energy company reNIKOLA is reportedly planning to invest over RM1.05 billion (IDR 3.70 trillion) to develop 40 compressed biomethane gas projects in Indonesia.

The projects will be developed with PT Perkebunan Nusantara IV, a division of Indonesia's state-owned agricultural enterprise Perkebunan Nusantara, according to The Star.

In addition, reNIKOLA reportedly announced that it signed an agreement with Perkebunan Nusantara IV to build, own, operate and transfer a compressed biomethane gas project in North Sumatra.

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Currently, reNIKOLA reportedly owns and operates solar plants across Malaysia and Indonesia with a combined generating capacity of 220 megawatts.

It aims to expand its capacity to one gigawatt-peak, according to The Star.

On top of that, the company reportedly said it would collaborate further with Indonesian state-owned companies such as Perusahaan Gas Negara and Perusahaan Listrik Negara to support Indonesia's goal of achieving a 26% renewable energy mix by 2030.

Indonesia and Malaysia have been working closer as of late. Earlier in April, it was reported that the country is hoping to enhance economic, trade and tourism programmes with Johor Bahru, Malaysia.

This comes with the introduction of a 'special privilege scheme', which offers discounts to residents in bordering regions.

The Indonesian consul-general in Johor, Sigit Suryantoro Widiyanto reportedly said the scheme will further boost trade and tourism between border states and is the first time such a move has been mooted by Indonesia.

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