Hyundai Motor Lets Russia Plant Buyback Option Expire Amid Ongoing Ukraine War 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
Boeing Signals Progress on Delayed 777X Program With Planned April First Flight 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Disney Board Nears CEO Decision as Josh D’Amaro Emerges as Leading Candidate 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Denso Cuts Profit Forecast Amid U.S. Tariffs and Rising Costs 
CK Hutchison Unit Launches Arbitration Against Panama Over Port Concessions Ruling 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
Panama Supreme Court Voids Hong Kong Firm’s Panama Canal Port Contracts Over Constitutional Violations 
Oracle Plans $45–$50 Billion Funding Push in 2026 to Expand Cloud and AI Infrastructure 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Indonesia's state utility, Perusahaan Listrik Negara (PLN), has joined forces with Coca-Cola Europacific Partners (CCEP) Indonesia in pursuing environmental sustainability. Through a Renewable Energy Certificate (REC) arrangement, the two companies have agreed upon a significant collaboration spanning 90 Gigawatt hours (GWh).
Solar Quarter reported that this momentous partnership was formalized by signing a Sale and Purchase Agreement, utilizing PLN's Green Energy As Services REC service. The agreement covers 90,211 units and is set to continue until 2025.
PLN offers a renewable energy certificate service, known as REC, which is internationally recognized and accessible for both industrial and household customers. This service enables users to claim their usage of renewable energy. One of the key beneficiaries of PLN's REC is CCEP Indonesia, which plans to utilize it to fulfill the energy requirements of its largest facility, the Bekasi 1 Factory.
PLN's REC Service
Edi Srimulyanti, PLN Retail and Commerce Director, emphasized that the collaboration reflects the commitment of both PLN and Coca-Cola to supporting the government's ambitious target of achieving Net Zero Emissions (NZE) by 2060. Customers, including CCEP Indonesia, will receive RECs from renewable energy generators.
PLN will distribute these certificates in three stages over the next three years. Edi highlighted the user-friendly nature of PLN's REC service, which simplifies the process for customers to claim their use of renewable energy.
Transparency, accountability, and international recognition are the hallmarks of this service, which has experienced a surge in demand since its introduction in 2020. By November 2023, over 300 corporate buyers had chosen PLN RECs, reflecting a more than tenfold growth.
Commitment Towards Energy Transition
Lucia Karina, Director of Public Affairs, Communications, and Sustainability at CCEP Indonesia, underscored the company's dedication to being at the forefront of energy transition in Indonesia. By leveraging PLN's REC, CCEP Indonesia aims to reduce its dependence on fossil fuel-based equipment in its factories and offices, setting a prominent example for others in the industry to follow suit.
Reuters reproed that PLN signed 14 agreements with various institutions during the COP28 climate summit last month to accelerate the transition to cleaner energy. These agreements encompass plans to develop renewable energy ecosystems, expedite the closure of coal power plants, and implement worker training programs. PLN remains steadfast in its commitment to ushering in a sustainable future.
Photo: niels mortensen/Unsplash
