Khazanah's Amirul says the NETR is a catalyst for Malaysia’s energy transition and RE aspiration.
PETALING JAYA: UEM Group Bhd, a wholly-owned subsidiary of Khazanah Nasional Bhd, has tied up with local and foreign investors to develop a one gigawatt hybrid solar photovoltaic or PV power plant integrated with a renewable energy (RE) industrial park in Malaysia.
The project will be developed by UEM Group in collaboration with local investor Itramas Corp Sdn Bhd, which is the largest vertically integrated solar plant developer, as well as engineering, procurement, construction and commissioning and service provider in the country.
The collaboration will see both parties leveraging complementary expertise, resources and networks to achieve synergies that will ensure greater success for the project.
It has also attracted foreign strategic investors which include Blueleaf Energy and Itramas’ existing partners – China Machinery Engineering Wuxi Co Ltd (CMECWUXI) and Hexa Renewables.
In a joint statement yesterday, UEM Group, Itramas, Blueleaf Energy, CMECWUXI and Hexa said the project is in line with the strategic and high-value national flagship energy transition projects under the National Energy Transition Roadmap (NETR).
“The project investors are in discussion with UEM Group to consider collaborating on project development, financing (including equity investments) and commercialisation (including offtake of green electricity).
“Itramas and CMECWUXI also intend to be the anchor tenants and initial green electricity offtakers within the RE Industrial Park,” said the statement.
The parties said the RE industrial park would attract foreign manufacturers and suppliers across the RE and electric-vehicle (EV) value chains, as well as other high-tech companies to set up operations and research and development facilities.
This will drive the growth of the overall energy transition and EV ecosystems in the country.
Khazanah managing director Datuk Amirul Feisal Wan Zahir said the NETR is a catalyst for the achievement of Malaysia’s aspiration to become a regional leader in the fields of energy transition and RE.
“This project is a step in the right direction and demonstrates UEM Group’s commitment to sustainable green initiatives moving forward,” he said.
UEM Group managing director Datuk Mohd Izani said the project is in line with the strategic and high-value national flagship energy transition projects under the NETR.
“Itramas, Blueleaf Energy, CMECWUXI and Hexa are investors that are not only committed to develop Malaysia’s RE assets, but have also pledged to upskill local contractors, provide jobs and undertake knowledge transfers.”
Itramas managing director Lee Choo Boo said the group is committed to ensure the resounding success of this flagship energy transition project.
“Together with Khazanah, UEM Group, Hexa, Blueleaf Energy and CMECWUXI, we will provide a strategic catalyst to propel our nation to be a regional leader in energy transition and RE value chain.”
Blueleaf Energy planned to contribute its technology, financing and commercialisation expertise to realise the investment, development, construction and operations of renewable hybrid energy solutions for the country.
“Investing in Malaysia’s RE projects is strongly supported by the government’s sustainability vision.”
Meanwhile, CMECWUXI general manager and chairman of the board Kathy Hsu said a low-carbon lifestyle and zero-emission manufacturing are fast becoming a global trend.
