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Malakoff partners Meccanica to develop RE

Extract from Borneo Post (9/1/2018)

KUALA LUMPUR: Malakoff Corporation Bhd has partnered Touch Meccanica Sdn Bhd to jointly develop renewable energy (RE) projects in Pahang at a total development cost of RM1.3 billion.

Malakoff chief executive officer, Datuk Ahmad Fuaad Kenali said the projects, particularly the large-scale solar photovoltaic and mini hydro-power, would likely generate 150 megawatts (MW) of energy.

“It is a sizeable project comprising seven sites for the hydro-power and one for the integrated solar farm.

“For the 100MV  hydro project, we envisage the estimation cost at about RM1 billion, and the 50MW solar farm at about RM300 million,” he told reporters after the signing of a memorandum of understanding (MoU) between Malakoff and Touch Meccanica yesterday.

The signing was witnessed by the Tengku Mahkota of Pahang, Tengku Abdullah Sultan Ahmad Shah.

Ahmad Fuaad said 70 per cent of the total cost would be financed through borrowings, with the remaining via internally generated funds.

Under the MoU, both companies have agreed to discuss on an exclusive bias, matters relating to the energy projects. Malakoff will also conduct a feasibility study for the purpose of ascertaining the technical and commercial viability of the projects.

The hydro projects are expected to be at five locations in Bera, Maran and Pekan, and the solar project on a 80.94-ha site in Semuji.

The exact sites will only be identified upon completion of the feasibility studies, said Ahmad  Fuaad, adding, construction of the first hydro project would take about 14 months to complete.

Pahang is Malaysia’s largest state and has the longest river in the Peninsular, making it attractive for the development of large scale solar photovoltaic and small hydro projects. — Bernama