Malaysian renewable energy firm reNIKOLA Holdings aims to raise up to MYR2bn (USD438.4mn) in the next three years to fund its projects in Southeast Asia, including solar initiatives. The company plans to issue a MYR390mn Islamic bond or sukuk in August, which will be the first sukuk to be climate bonds certified. It is also planning a reverse takeover of a Malaysian shell company, Pimpinan Ehsan, in early 2024 to raise additional equity for further renewable projects. reNIKOLA is 45%-owned by Thailand's B.Grimm Power.

Source: Reuters