reNIKOLA Holdings has signed a total of four Renewable Energy Power Purchase Agreements with Tenaga Nasional Berhad for a collective 5 megawatts of net export capacity for four biogas plants in Pahang.
This follows the Group’s winning of four bids by Sustainable Energy Development Authority, Malaysia in the feed-in tariff quota application for biogas. The group will build, own, and operate these four biogas plants that will use palm oil mill effluent as the feedstock.
Under the REPPAs, TNB as the Distribution Licensee has agreed to purchase renewable energy for a 21-year period. The basic 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.
Through the upcoming biogas plants in Pahang, the company will capture methane and convert it to biogas for power generation.
