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Malaysia’s reNIKOLA targets 1GW peak solar capacity by 2025

Malaysia’s reNIKOLA targets 1GW peak solar capacity by 2025

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KUALA LUMPUR: Malaysian solar company reNIKOLA Sdn Bhd aims to reach 1GW peak generation by 2025 by adding capacity and through acquisitions, according to managing director Boumhidi Adel.

“Our sights are set on projects in Malaysia but we don’t discount looking at projects in the ASEAN region in the near future,” he said in an interview.

The Kuala Lumpur-based company is also looking at other forms of renewable energy that fit its investment criteria and environmental, social, and corporate governance philosophy.

reNIKOLA is in the process of being bought by a local cash shell firm, Pimpinan Ehsan Bhd, which will turn Pimpinan Ehsan into the nation’s only listed pure renewable energy firm, according to the company’s official statement.

reNIKOLA operates two solar plants with a total capacity of 43MWp in the states of Pahang and Perlis in Malaysia, according to its official website.

Another 45MWp plant in Pahang will begin generation as early as next month.

The company is also building a 330MWp plant in Kedah, which will take its total capacity to 418MWp, making it the largest listed solar company in Malaysia.

reNIKOLA hopes to contribute to Malaysia’s efforts to make renewable energy account for 20% of its generation mix by 2025 with the commissioning of its 330MWp plant in the next two years, Boumhidi said.

Source: theedgemarkets
Anand Gupta Editor - EQ Int'l Media Network