reNIKOLA clinches 4 REPPAs with TNB for biogas plants in Pahang - MIDA | Malaysian Investment Development Authority
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reNIKOLA clinches 4 REPPAs with TNB for biogas plants in Pahang

reNIKOLA clinches 4 REPPAs with TNB for biogas plants in Pahang

16 Feb 2023

RENIKOLA Holdings Sdn Bhd has inked four renewable energy (RE) power purchase agreements (REPPAs) with Tenaga Nasional Bhd (TNB) for a collective five megawatts (MW) of net export capacity for four biogas plants in Pahang.

Under the REPPAs, TNB as the distribution licensee has agreed to purchase the RE from reNIKOLA, who is the feed-in approval holder, for a 21-year period, it said in a statement yesterday.

The basic feed-in tariff (FiT) bid rates secured by reNIKOLA range between RM0.2413 per kilowatt-hour (kWh) and RM0.2428 per kWh.

The commercial operation date (COD) of these biogas plants is expected to be in the fourth quarter of 2024, it said.

“The signing of the REPPAs signifies another important milestone for reNIKOLA. In particular, these REPPAs are for our biogas plants, and this marks our foray into RE sources beyond solar energy.

“Through our upcoming biogas plants in Pahang, we can capture methane and convert it to biogas for power generation. It is a win-win solution — generating power while reducing the climate change impact from industrial agricultural waste, which in this case, is palm oil production,” reNIKOLA MD Boumhidi Adel said.

“Moving forward, we remain active in our pursuit of attaining one gigawatt of RE capacity by 2025. In the pipeline, we are working to expand our solar assets in the commercial and industrial space, as well as participating in large scale solar projects.

“Besides that, we are also looking at more biogas plants and mini hydropower plants to build up the diversity of our RE sources,” he added.

As a local homegrown pure play RE company, he said, reNIKOLA looks forward to continuing its role in assisting the nation to achieve the government’s target to reach 31% of RE mix in the national installed capacity by 2025.

The latest contract follows the group’s winning of four bids by the Sustainable Energy Development Authority, Malaysia (SEDA) in the FiT quota application for biogas.

Source: The Malaysian Reserve