reNIKOLA

Name

reNIKOLA

Legal name

reNIKOLA Holdings Sdn Bhd

Website

https://renikola.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Solar Electric Power Generation (221114), Biomass Electric Power Generation (221117), Electric Power Generation (22111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)

akta.pro secondary industry

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

Keywords

• Solar power plants
• Biogas production
• Renewable energy
• Green sukuk
• Power purchase agreements

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Solar Power Generation and Sale: reNIKOLA operates large-scale solar power plants and sells electricity to the grid under long-term Power Purchase Agreements (PPAs) with utilities like Tenaga Nasional Berhad. Revenue is generated through capacity-based payments and energy production.
2. Biogas/CBG Plant Development and Operation: Development and operation of compressed biomethane gas (CBG) plants using palm oil mill effluent, with revenue from biogas sales and carbon credits

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

reNIKOLA develops, owns, and operates utility-scale solar photovoltaic power plants (178 MWp operational, 50 MWp under development) and compressed biomethane gas (CBG) production facilities using palm oil mill effluent (POME). The company generates revenue through long-term Power Purchase Agreements (PPAs) with utilities like Tenaga Nasional Berhad and direct corporate installations in Malaysia and Indonesia.

Product overview

reNIKOLA Holdings Sdn Bhd is a renewable energy company operating a portfolio of large-scale solar power plants (178 MWp operational, 50 MWp under development) across Malaysian states (Pahang, Kelantan, Kedah, Perlis). The company develops biogas/biomethane gas (CBG) production facilities using palm oil mill effluent, with four 6MW plants under construction in Jergka, Pahang. Through its Indonesian subsidiary PT reNIKOLA Primer Energi, the company is expanding into biogas projects in Sumatra and Kalimantan. reNIKOLA finances its operations through Green Sukuk instruments, having issued the world's first Climate Bonds Initiative certified Green Sukuk (Green Sukuk I and II) totaling RM780 million for solar plant refinancing.

Differentiator

Problem solved

Functional benefit

Products and services

• Large-Scale Solar Power Plants Utility-scale solar photovoltaic power generation facilities with total operational capacity of 178 MWp across multiple Malaysian states including Pahang, Kelantan, Kedah, and Perlis, with power sold to the grid under long-term PPAs and at least 50 MWp under development.
• Biogas/Biomethane Plants (CBG) Compressed Biomethane Gas (CBG) production facilities utilizing palm oil mill effluent (POME) as feedstock, including four 6MW biogas plants under construction in Jengka, Pahang, and additional projects in Indonesia under BOOT arrangements.
• Green Sukuk II (Climate Sukuk) RM390 million ASEAN Green SRI Sukuk Programme to refinance two large-scale solar power plants with combined capacity of 90 MWp in Kedah and Kelantan. World's first climate Sukuk certified by Climate Bonds Initiative with AA2/Stable rating from RAM Rating Services.
• Green Sukuk I RM390 million ASEAN Green SRI Sukuk Programme to refinance three large-scale solar power plants with combined capacity of 88 MWp in Perlis and Pahang. World's first Sukuk certified by Climate Bonds Initiative with AA3/Stable rating from RAM Rating Services.
• Corporate Green Power Programme (CGPP) Solar Plant 44 MWp solar plant under development in Amanjaya, Kedah as part of Malaysia's Corporate Green Power Programme, enabling corporate offtakers to procure renewable energy directly.

Quantifiable outcome

• 310,987 MWh total renewable energy produced from solar plants (2022-2025)
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered major and core.

• PT Pertamina Gas (Pertagas)majorStrategic or Co-development Partner · 19 June 2025Strategic collaboration for biogas business development across Sumatra and Kalimantan regions in Indonesia, signed through reNIKOLA's wholly owned subsidiary PT reNIKOLA Primer Energi
• Sumitomo CorporationmajorStrategic or Co-development Partner · 12 May 2025Joint development of large-scale bioenergy projects in Malaysia and Indonesia, partnership signed at Malaysia Pavilion at Expo 2025 Osaka, Kansai, Japan
• PT Karya Pratama NiagajayacoreStrategic or Co-development Partner · 11 March 2025BOOT agreement for CBG project in North Sumatra, part of reNIKOLA's target to develop 40 projects over three years with USD 240 million investment
• Universiti Teknologi MARA (UiTM)coreStrategic or Co-development Partner · 8 April 2024Development and maintenance of rooftop solar systems on various UiTM buildings across Malaysia under NEM and SELCO schemes
• PT Perkebunan Nusantara IV (PTPN IV)coreStrategic or Co-development Partner · 12 September 2023Development of 4 CBG plants in North Sumatra using palm oil mill effluent, expected to generate over 150,000 MMBtu biomethane annually and mitigate 50,000 tonnes of emissions
• ValecoreStrategic or Co-development Partner · 7 July 2023Development and installation of 350 kWp photovoltaic system at TRMT (Teluk Rubiah) hub for Vale
• Tenaga Nasional Berhad (TNB)coreStrategic or Co-development Partner · 15 February 2023REPPAs (Renewable Energy Power Purchase Agreements) signed for four biogas plants with collective 5 MW net export capacity in Pahang

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Solarvest Holdings Berhad: Malaysian solar EPC and clean energy developer active in LSS, CGPP, and rooftop solar schemes. Closely comparable on Malaysian utility-scale solar project development and project financing.
• Samaiden Group Berhad: Malaysian solar PV system developer and IPP operating in LSS, NEM, and SELCO programmes. Comparable to reNIKOLA on Malaysian solar EPC and PPA-of-taker model.
• Cypark Resources Berhad: Malaysian listed renewable energy developer with utility-scale solar, biogas, and waste-to-energy projects. Cypark is the most direct Malaysian comparable given its combined solar/biogas portfolio and PPAs with TNB.
• Scatec ASA: Norwegian-listed utility-scale solar and storage developer with emerging markets focus. Comparable as a global utility-scale solar developer operating across multiple geographies under PPA structures.

Broad incumbents

• B.Grimm Power Public Company Limited: Thailand-listed independent power producer and 45% shareholder of reNIKOLA. B.Grimm provides direct strategic backing and is a regional incumbent in the same Southeast Asian renewable energy space.
• PT Pertamina (Persero): Indonesian state energy major and parent of Pertamina Gas, with which reNIKOLA signed a biogas MOU. Comparable as Indonesia's largest energy incumbent now partnered with reNIKOLA.
• Engie / ENGIE Renewables: Global renewable energy developer with a Southeast Asian footprint. Comparable as a broad incumbent pursuing utility-scale renewables and emerging biomethane opportunities across the region.
• Pertama Digital Berhad / Edra Power: Malaysia-based IPP and power generation operator with renewables exposure. Comparable as a Malaysian power player with utility-scale generation assets and PPA relationships.

Emerging players

• Gunkul Engineering Public Company Limited: Thai renewable energy developer with solar, wind, and biomass assets. Comparable as a regional Southeast Asian renewable energy developer of similar scale and growth profile.

Regional players

• SUN Energy Indonesia: Indonesian utility-scale and commercial solar developer. Comparable as a regional Indonesian solar developer, although focused on distributed/C&I rather than POME biogas.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/renikola

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about reNIKOLA