Mahkota Group signs Definitive Agreements with GREE Energy to develop Biogas-to- Energy Projects

February 20, 2020
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Medan, North Sumatera, Indonesia – 19th February 2020 – PT Mahkota Group, Tbk today announced that the company through its subsidiaries has signed two definitive agreements to develop biogas-to-energy projects in Indonesia with GREE Energy in two palm oil mills. The biogas-to-energy projects will be connected to Indonesia’s utility company, PLN, each with a 20-year Power Purchase Agreement currently under development.

Signing of Definitive Agreement of partnership between Mahkota Group and GREE Energy
(From left to right: Ir. Choky YF Simanjuntak - Director Chief of Business Development PT Gree Energy Makmur, Nicolas Stirer - CEO and Founder GREE New Energy, Usli Sarsi - Direktur Utama PT. Mahkota Group Tbk, Ir. Nani Sarsi - Direktur Utama PT. Berlian Inti Meka
Photo Credit: Annisa Sabran/GREE

With a total of 3 MW biogas-to-energy projects combined, 27,000 people will be able to enjoy clean and reliable electricity through more than 16 GWh of electricity generated per year. The project will combat climate change through innovative solutions by significantly reducing CO2 emission by more than 76,000 tonnes per year, which is equivalent to the emissions of 42,000 people. Additionally, a total of 13,000 tonnes of Biological Oxygen Demand will be removed per year, equivalent to the domestic waste generated by 1,600,000 people. The projects contribute to PT Mahkota Group, Tbk’s refinery plants in Riau to meet the increasing demand of CPO, and implementing the principles of sustainability in line with ISPO (Indonesian Sustainable Palm Oil), and supporting Sustainable Development Goals (SDGs) through innovative renewable energy projects.

“We hope the partnership with GREE Energy will bring a positive impact to the communities and contribute to reducing emission, which is in line with our values in upholding sustainability standards of ISPO. The benefit of this project will be used to support Mahkota Foundation which focuses on education.”, Usli Sarsi, CEO of Mahkota Group, Tbk.

“We are very excited to be partnering with a large group like Mahkota and to assist them in their transition to a more sustainable production, reducing dramatically the greenhouse gas emissions of 2 of their mills. This partnership will also boost the local economy and promote an inclusive development and welfare in the villages surrounding the projects.”, Nicolas Stirer, CEO and founder of GREE Energy.

ABOUT PT MAHKOTA GROUP, Tbk
PT. Mahkota Group, Tbk and its subsidiaries own palm oil processing factories located across North Sumatra and Riau. The company applies sustainability principles for palm oil production, high standard of work and build partnerships with surrounding communities. PT. Mahkota Group, Tbk., MGRO is listed in IDX since Juli 2018. www.mahkotagroup.com

ABOUT GREE ENERGY
GREE Energy was founded in 2013 with the aim to combat climate change and improve access to energy in rural areas. GREE Energy develops, finances, builds and operates biogas-to-energy projects in Indonesia. GREE has received awards from the French Facility for Global Environment (Fonds Français pour l'Annvironmentalement Mondial) and UKAID assistance for its contribution in combating climate change.www.gree-energy.com

Forward-looking statements
This press release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward- looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to Kep-43/PM/2000, Peraturan Badan Pengawas Pasar Modal Nomor IX.C.3.

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