RAM Rating Services Berhad has assigned a AA3/Stable rating to reNIKOLA Solar Sdn Bhd’s (Issuer) RM390mil ASEAN Green SRI Sukuk Programme (Green Sukuk) reflecting the Projects’ sound project fundamentals, underscored by the favourable terms of the Power Purchase Agreements with Tenaga Nasional Berhad.
The Green Sukuk is aligned with the transparency and disclosure requirements of Securities Commission Malaysia’s (SC) Sustainable and Responsible Investment (SRI) Sukuk Framework, the ASEAN Green Bond Standards (ASEAN GBS) and the globally recognised Green Bond Principles (GBP).
The Issuer is a wholly-owned subsidiary of reNIKOLA Holdings Sdn Bhd, set up to raise funds to refinance 3 large-scale solar power plants with a combined capacity of 88 MWp in Perlis and Pahang (Projects).
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Oct-2024 | Total | |
|---|---|---|---|---|---|---|---|---|
| Renewable Energy Produced (MWh) | 6,272 | 7,937 | 60,633 | 96,882 | 129,661 | 130,188 | 117,120 | 548,693 |
| GHG Emission Avoided* (In t/CO2) | 5,582 | 7,065 | 53,968 | 86,232 | 115,407 | 115,877 | 104,245 | 448,376 |
* emission factor for Peninsular Malaysia = 0.89 tCO2 metric tonnes/MWh
(source: Sustainable Energy
Development Authority Malaysia)
The Green Sukuk Framework and Second Opinion Report by RAM Sustainability Sdn Bhd
are available for download here:
reNIKOLA Holdings Sdn Bhd
202101014740 (1415040-M)
Suite 22A-1, Level 22,
Sunway Tower,
86 Jalan Ampang,
50450 Kuala Lumpur, Malaysia
T +603 2022 1828