Exxon Mobil’s XTO Energy Explores Sale of Eagle Ford Shale Assets in South Texas 
U.S. Vaccine Policy Shifts Under RFK Jr. Create Uncertainty for Pharma and Investors 
Valero Makes First Venezuelan Crude Purchase Under New U.S.-Caracas Deal 
Apple Stock Jumps as Company Prepares Major Siri AI Chatbot Upgrade 
Elon Musk Shares Bold Vision for AI, Robots, and Space at Davos 
Walmart to Cut PhonePe Stake in IPO as Tiger Global and Microsoft Exit 
SoftBank Shares Surge as AI Optimism Lifts Asian Tech Stocks 
Toyota Recalls 162,000 Tundra Vehicles in U.S. Over Multimedia Display Issue 
FCC Chairman Raises Competition Concerns Over Netflix–Warner Bros. Discovery Deal 
Goldman Sachs CEO David Solomon’s 2025 Pay Soars to $47 Million After Strong Deal-Making Year 
JPMorgan and Allen & Company Emerge as Big Winners in Warner Bros Discovery Bidding War 
Microsoft Restores Microsoft 365 Services After Widespread Outage 
CN Energy Group Inc. Stock Slides After Nasdaq Delisting Notice Over Bid Price Rule 
SEC Drops Gemini Enforcement Case After Full Repayment to Earn Investors 
Intel Stock Slides Despite Earnings Beat as Weak Q1 Outlook Raises Concerns 
Morgan Stanley Flags High Volatility Ahead for Tesla Stock on Robotaxi and AI Updates 
Sanofi Reports Positive Late-Stage Results for Amlitelimab in Eczema Treatment 
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
