NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Yantoultra Ngui

Malaysian renewable energy company reNIKOLA Holdings is seeking to raise up to 2 billion ringgit ($438.4 million) over the next three years to fund its pipeline of projects including solar in Southeast Asia, its managing director told Reuters.

Boumhidi Adel, reNIKOLA’s managing director, said the Kuala Lumpur-headquartered company will be issuing a 390 million ringgit Islamic bond or sukuk in August, which he said will be the first sukuk to be climate bonds certified.

Photo courtesy of andreas160578.