Independent water and power producer (IWPP) Malakoff Corp Bhd plans to develop several renewable energy projects worth of RM1.3 billion, particularly in large-scale solar photovoltaic and mini-hydro power projects, in Pahang.
The projects will be in collaboration with Touch Meccanica Sdn Bhd, a wholly owned subsidiary of Touch Group Holdings Sdn Bhd.
Malakoff chief executive officer (CEO) Datuk Ahmad Fuaad said the total capacity for the hydro and solar projects is 150MW.
“We are looking at two projects which are large-scale solar photovoltaic up to 50MW and hydro power up to 100MW,” he said during the signing of a memorandum of understanding (MoU) here yesterday.
Touch Meccanica CEO Tengku Datuk Abdul Aziz Ibrahim said there are few state-approved locations for hydro power projects which in Bera, Marang and Pekan.
“Whereas solar photovoltaic, we are still doing our feasibility study and soil analysis and yet to be confirmed. The expected location is in Gambang,” he said.
Ahmad Fuaad said the hydro power project is expected to be completed in two years from the date the group secures the financing.
“As for the solar photovoltaic, it will take 14 months once it gets the approval from the authorities,” he said.
Ahmad Fuaad added that this MoU also serves as a platform to exchange knowledge and expertise that will be invaluable to both companies.
“This MoU also shows our commitment to expand renewable energy in our generation portfolio.
“This project will serve as a catalyst for us to play a bigger role in developing renewable energy projects in Malaysia,” he said.
The Malakoff CEO said the group is keen to expand its total generation capacity to 10,000MW by 2020.
Currently, Malakoff owns a 50% stake in Macarthur Wind Farm in Victoria, Australia, with an effective generation capacity of 210MW, said Ahmad Fuaad.
As a member of MMC Group, Malakoff is an IWPP with a core focus on power generation, water desalination, and operation and maintenance services.
In Malaysia, Malakoff is the largest independent power producer with a net generating capacity of 6,346 MW from its seven power plants.
The group’s international assets include power and water ventures in Saudi Arabia, Algeria Bahrain, Oman and Australia, with an effective capacity of 690 MW of power and 444,800 m3 / day of water desalination.
Malakoff is also actively looking to venture further in the fast growing Middle East and North Africa region as well as the Southeast Asian markets.
Through its wholly-owned subsidiary, Teknik Janakuasa Sdn Bhd Malakoff has involvements in operation and maintenance services in Saudi Arabia, Algeria, Kuwait, Oman and Indonesia.
The MoU was signed by Ahmad Fuaad while Touch Meccanica was represented by Abdul Aziz.
The signing was done in the presence Kebawah Duli Yang Maha Mulia Pemangku Raja Pahang, Tengku Mahkota, Tengku Abdullah Al-Haj Ibni Sultan Haji Ahmad Shah Al-Musta in Billah.