Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
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
