News

KPower's unit secures hydro power plant contracts worth RM510 mln

KUALA LUMPUR, April 28 -- KPower Bhd’s wholly-owned subsidiary KPower Engineering Sdn Bhd has been awarded four contracts with a total value of RM510 million from Cabaran Hijau Sdn Bhd, Selat Serasi Sdn Bhd, Denai Delima Sdn Bhd and Koridor Mentari Sdn Bhd.                

The contracts are to undertake, among others, the engineering, procurement, construction, commission and completion of mini-hydro power plants in Pahang, with a capacity of 18.7 megawatts (MW) in Sungai Jelai Kecil, 13.9 MW in Sungai Telom and 12MW in Sungai Lemoi, as well as a 5.25 MW plant in Sungai Kampar, Perak. 

In a statement today, KPower said the relevant parties will enter into a definitive agreement within 60 business days from the date of acceptance of the awards with the projects to begin immediately.

Group managing director Mustakim Mat Nun said the contracts in Pahang were the group’s first in the state, while the additional contract in Perak is expected to enable KPower to continue expanding in the state.

“With ASEAN targeting 35 per cent of renewable energy share of installed capacity and also our pre-existing local and regional presence, we are well-positioned for growth,” he said.

To date, the group has secured a sizeable RM2.3 billion order book in ASEAN countries and Nepal since June 2019.

For the financial year ending June 30, 2021, KPower has secured RM1.2 billion worth of projects and is confident to secure RM2.0 billion more. 

-- BERNAMA

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