Malaysia's reNIKOLA Holdings plans to invest over US$240 million to develop 40 compressed biomethane gas projects in Indonesia, the renewable energy company said today (19 August).
Its subsidiary reNIKOLA Primer Energi plans to develop the projects with Perkebunan Nusantara IV - a division of Indonesia's state-owned Perkebunan Nusantara.
reNIKOLA also signed an agreement with Perkebunan Nusantara IV to build, own, operate and transfer a compressed biomethane gas project in North Sumatra.
The company said it would collaborate further with Indonesian state-owned companies like Perusahaan Gas Negara and Perusahaan Listrik Negara to support Indonesia’s goal of achieving a 26% renewable energy mix by 2030.
The group is exploring alternatives such as large-scale solar and hydro projects as replacements for conventional fossil fuels, with a focus on the bioenergy sector, it added.
reNIKOLA invests over US$240m in Indonesia biomethane projects
