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DevvStream Named Exclusive Partner to PLN Indonesia Power for Carbon Credit Management of Indonesian Solar Portfolio; Provides Corporate Financing Update
CALGARY, Alberta, May 04, 2026--DevvStream Corp. (Nasdaq: DEVS) ("DevvStream" or the "Company"), a carbon management and environmental-asset monetization firm, today announced a definitive, exclusive agreement with PT PLN Indonesia Power ("PLN Indonesia Power" or "PLN IP"), a sub-holding of Indonesia’s state-owned electricity company, PT PLN (Persero), giving DevvStream exclusive rights and title to carbon credits resulting from PLN IP’s solar plant operations. Under the agreement, DevvStream wi
About this update from Devvstream Corp.
CALGARY, Alberta, May 04, 2026--(BUSINESS WIRE)--DevvStream Corp. (Nasdaq: DEVS) ("DevvStream" or the "Company"), a carbon management and environmental-asset monetization firm, today announced a definitive, exclusive agreement with PT PLN Indonesia Power ("PLN Indonesia Power" or "PLN IP"), a sub-holding of Indonesia’s state-owned electricity company, PT PLN (Persero), giving DevvStream exclusive rights and title to carbon credits resulting from PLN IP’s solar plant operations. Under the agreement, DevvStream will manage the creation, validation, certification, registration, storage, security and liquidation of PLN IP’s carbon credits. Potential revenue generated from carbon credit sales will be shared between DevvStream and PLN IP. Indonesia is Southeast Asia’s largest economy and the world’s fourth-most populous country, with more than 283 million people across more than 17,000 islands. Through PT PLN (Persero), Indonesia’s electricity system serves more than 96 million customers, positioning PLN among the world’s largest utilities by customer count. The agreement is aligned with Indonesia’s accelerating clean-energy agenda. Indonesia has outlined a national initiative targeting up to 100 GW of new solar capacity, while PLN IP has publicly stated that it manages approximately 22.1 GW of generation capacity across Indonesia. For this initial agreement, DevvStream and PLN IP have identified a portfolio of 45 solar power plants throughout Indonesia. "PLN Indonesia Power is one of the most significant electricity operators in one of the world’s most important energy markets, and this agreement positions DevvStream as its exclusive partner for environmental asset creation and monetization across the identified solar portfolio," said Sunny Trinh, Chief Executive Officer of DevvStream. "We spent considerable time demonstrating our validation, certification, registry and lifecycle capabilities before this agreement was finalized, and we believe that process reflects exactly what DevvStream was built to do: help major energy partners convert verifiable environmental outcomes into high-integrity, monetizable assets." "This partnership expands DevvStream’s footprint as a premier environmental asset developer in Asia and highlights our core operating strategy," added Scott Harrington, DevvStream’...