BOGOR, Indonesia , Dec. 9, 2021 /PRNewswire/ -- PT Indo Kordsa Tbk (Indo Kordsa), a subsidiary of Kordsa group and a major supplier for the premium tire reinforcement material for the automotive sector in Southeast Asia , has signed an agreement with TotalEnergies to provide a rooftop-mounted solar system for the company's production buildings, warehouse and office buildings in Citeureup, Bogor, Indonesia . PT Indo Kordsa is one of the first tire cord manufacturers using solar power for self-consumption in Southeast Asia .
Indo Kordsa, in parallel to Kordsa Group's sustainability strategies, has declared that one of its priorities is reducing emissions, including greenhouse gases (GHG), and combating climate change. Indo Kordsa was looking for a partner to install its rooftop PV (photovoltaic) power system, to drive down their carbon footprint and fulfill their sustainability targets while saving power costs. They chose TotalEnergies, known for their robust technical experience in deploying renewable energy solutions on highly technical and complex sites around the world, to support them in their transition towards clean energy. Under the agreement, TotalEnergies will install, operate and maintain the PV solar system over contract period.
The PV system will have a total capacity of 5 megawatt-peak (MWp) involving 8,830 PV panels to be mounted onto the rooftops of the company's 5 facilities. Once completed, the system is expected to generate 6,645 megawatt-hours (MWh) of solar energy annually to power Indo Kordsa's daily operations. With this new systems, Indo Kordsa can reduce around 5,250 tons of CO2 emissions annually, equivalent to removing more than 1,100 cars from the roads or planting more than 87,000 trees.
Ibrahim Ozgur Yildirim , President Director of Indo Kordsa said, "We are inspired to reinforce life through our products and by upholding our values, create value not only for our shareholders and stakeholders but also for our planet. Sustainability is World's top agenda, and so is Kordsa's. While we strive to develop sustainable technologies with sustainable production systems, we also contribute to the global efforts against climate change. In parallel to Kordsa's 2050 Sustainability Roadmap, we are determined to reduce our carbon footprint, and increase the use of renewable energy. Our collaboration with TotalEnergies for the installment of PV systems, which will eventually generate some of our total daily energy need, marks an important step towards this goal, and will lead the path within the industry."
Gavin Adda , Head of TotalEnergies Renewables Distributed Generation Asia said, "With a strong, growing presence in Asia , and trusted by companies such as Indo Kordsa as the solar energy partner of choice, TotalEnergies provides a zero-capex solution that fulfils both environmental sustainability and cost-saving goals. As a leading solar service provider for commercial and industrial businesses, we look forward to supporting manufacturing companies, such as Indo Kordsa, in driving down their carbon footprint, and use our global experts of tailor-made solar solutions for any business energy needs."
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in renewables and electricity. At the end of September 2021 , TotalEnergies' gross renewable electricity generation capacity is 10 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 producers of electricity from wind and solar energy.
About TotalEnergies Renewables Distributed Generation
TotalEnergies Renewables Distributed Generation is a major international provider of fully integrated distributed solar energy solutions, including solar-powered rooftops, carport and ground-mounted solar power plants, with a portfolio of over 600 MW of projects in development and operation worldwide. Active in Asia since 2018, TotalEnergies Renewables Distributed Generation is one of the largest and fastest players in renewable energy distributed generation in the region for commercial and industrial customers, with a portfolio of 100 MW of projects in development and operation. https://solar.totalenergies.asia
TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
Twitter - @TotalEnergies LinkedIn - TotalEnergies Facebook - TotalEnergies Instagram - TotalEnergies
Indo Kordsa is a major supplier for premium tire reinforcement material in Southeast Asia in the last four decades. Product range of Indo Kordsa includes Tire Core Fabric (Nylon 66 and Polyester), Nylon 66 Yarn and High-Modulus-Low-Shrinkage Polyester Yarn. The Company operates on an area coverage of 475,194 M2 with market share covering both local and international customers. The Company, being one of the important affiliates of Kordsa, continues to create value for all stakeholders with its innovation and customer focused approaches. www.indokordsa.com
TotalEnergies Contact Media Relations: contact.solar.asia@totalenergies.com
Indo Kordsa Contact corporate.secretary.id@kordsa.com
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TotalEnergies SE directly or indirectly owns investments are separate legal entities. TotalEnergies SE has no liability for their acts or omissions. The terms "Company" or "TotalEnergies company" refer collectively to the company TotalEnergies SE and the companies it controls directly or indirectly. Such terms are used solely for the sake of convenience for purposes of the present communication. Likewise, the words "we", "us" and "our" may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Shares of solid-state electric battery-maker QuantumScape (NYSE: QS) were in freefall today, down 14% as of 3:21 p.m EST. The company reported third-quarter earnings at the end of October, but today's move was likely caused by a big analyst downgrade, sending the stock even lower than many other EV stocks, which also generally had a bad day today. This morning, Morgan Stanley analyst Adam Jonas issued a note on QuantumScape, downgrading his rating to the equivalent of a "sell," while lowering his price target on the stock from $12 to just $4.
Is this the ultimate safe haven?
Here is the full text of a letter to Meta Platforms Inc. (Nasdaq:META) employees from CEO Mark Zuckerberg that was posted on Wednesday
Electric vehicles have gone from a backwater industry to a full-blown revolution over the last few years. Spurred on by the huge growth of Tesla, companies have committed to investing tons of money into the fast-growing sector of the economy. Here's one electric vehicle (EV) stock to buy right now, and two that will likely be poor investments going forward.
Yahoo Finance reporter Pras Subramanian explains how Tesla CEO Elon Musk's decision to sell nearly $4 billion worth of company shares is affecting the stock.
Dead cat bounce? This legend certainly thinks so.
(Bloomberg) -- Crypto markets face weeks of deleveraging in the fallout from the crisis at digital-asset exchange FTX.com, a period of upheaval that could push Bitcoin down to $13,000, according to JPMorgan Chase & Co. strategists.Most Read from BloombergSam Bankman-Fried’s $16 Billion Fortune Is Eviscerated in DaysMeta to Cut 11,000 Jobs; Zuckerberg Says ‘I Got This Wrong’FTX Warns of Bankruptcy Without Rescue for $8 Billion ShortfallHochul Wins NY Governor Race as GOP’s Zeldin Refuses to Conce
Shares of Amazon (NASDAQ: AMZN) took another step down today, even though there was no company-specific news about the tech giant. Amazon stock finished the day down 4.3%, while the Nasdaq lost 2.5%. While Amazon doesn't have direct exposure to the layoffs at the Facebook parent or the collapse in the crypto market, it arguably has more exposure to consumer and business spending than any other company.
Crypto has seen its fair share of crazy days. Tuesday may have been the craziest.
It’s on to the rubbish heap for flashy tech stocks, and time to place bets on the old-timers. That at least seems to be Jim Cramer’s latest piece of advice for investors. The well-known host of CNBC’s ‘Mad Money’ program says investors need to accept the “new reality” in which tech names are shunned aside in favor of the stock market’s more vintage collection. “It’s the revenge of the old guard right now, right here,” Cramer said. “All sorts of boring, conventional companies are taking back the
Meta CEO Mark Zuckerberg addressed employee concerns in a letter after the company terminated over 11,000 employees and enacted a hiring freeze.
Tesla selling pressure just won't let up. Blame it on Twitter. Unless something changes, investors are in for more pain, according to traders.
Distillate Capital Partners LLC, an investment management firm, published its third-quarter 2022 investor letter – a copy of which can be downloaded here. Distillate’s U.S. FSV strategy declined 19.63% through Q3 of 2022 compared to a decline of 23.87% for the S&P 500 benchmark. This more mitigated decline came despite a 1.75% headwind from being […]
Desktop Metal, Inc. (DM) delivered earnings and revenue surprises of -25% and 27.11%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
Question: I think I need a financial advisor. And, pros say, it also sounds like you’d benefit from an hourly or project-based adviser, who will charge you a flat-fee or hourly fee to give you financial advice, rather than managing your investments for you.
MoffettNathanson Partner Lisa Ellis joins Yahoo Finance Live to discuss Binance bailing out FTX, what that means for cryptocurrencies and stocks, and consolidation in the space.
ContextLogic Inc. (WISH) delivered earnings and revenue surprises of 6.25% and 5.01%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
Chart Industries (NYSE: GTLS) just went shopping, and investors aren't happy with the purchase. The manufacturer of equipment for the energy industry and industrial gas markets announced this morning that it has signed a definitive agreement to acquire Howden, a global provider of air and gas handling products and services. In a transaction valued at $4.4 billion, Chart will expand its offerings for customers looking to decarbonize their operations with the acquisition of Howden.
The 13% reduction in the staff at Meta Platforms was not a surprise as tech giants have forecasted lower revenue growth as advertising dollars shrink. The CEO of Meta Platforms , Mark Zuckerberg, made the decision to lay off 11,000 of the company's 87,000 employees, but is offering over three months of severance pay and six months of health insurance coverage for those affected. "I know this is tough for everyone, and I'm especially sorry to those impacted," Zuckerberg added.
(Bloomberg) -- Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value as a combination of rising inflation, tightening monetary policies and disappointing earnings updates triggered a historic selloff in the stock this year. Most Read from BloombergSam Bankman-Fried’s $16 Billion Fortune Is Eviscerated in DaysMeta to Cut 11,000 Jobs; Zuckerberg Says ‘I Got This Wrong’FTX Warns of Bankruptcy Without Rescue for $8 Billion ShortfallHochul Wins NY Governor Rac