News

Khazanah unit Cenergi secures financing facility of up to RM100 million

SHAH ALAM, Sept 24 -- Cenergi SEA Sdn Bhd, through wholly-owned subsidiary Cenergi RE Sdn Bhd, has secured up to RM100 million Green Club Facility from MIDF Amanah Investment Bank Bhd and China Construction Bank (M) Bhd to finance its biogas-to-energy (BTE) projects.

Group chief executive officer Ernest Navaratnam said the projects included nine additional BTE plants in Perak, Negeri Sembilan and Pahang.

“The fresh injection also means we are able to expedite our expansion strategy,” he told reporters after the tripartite agreement signing ceremony for the facility here today.

The signing was held in conjunction with the International Conference and Exhibition on Wastes Management organised by the Environmental Management and Research Association of Malaysia in partnership with the Selangor state government and Cenergi SEA.

A unit under the government's strategic investment fund Khazanah Nasional Bhd, Cenergi SEA is also one of the largest grid-connected palm oil mill effluent biogas players in Malaysia.

Cenergi RE currently owns and operates seven biogas plants that together generate 8.6 MW of power.

Navaratnam said the additional nine BTE plants would generate 1.5 MW per plant on average.

As of July 2019, Cenergi RE has generated a total of 135,090 MWh of renewable energy to the national grid and has avoided 134,930 tonnes of carbon dioxide.

According to Navaratnam, the Green Club Facility would help the company to meet its biogas financing needs and increase its contribution to the government's green energy goal of generating 20 per cent of the country's energy from renewable sources.

"Out of the 20 per cent goal, we aspire to generate 10 per cent of it by 2025," he said.

-- BERNAMA

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