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JAKS, Qhazanah Sabah plan to develop solar, hydro power plants

KUALA LUMPUR, July 8 -- JAKS Resources Bhd’s wholly owned subsidiary JAKS Solar Power Sdn Bhd and Qhazanah Sabah Sdn Bhd (QSSB) plan on working together to develop solar power and hydro power plants in Sabah.

QSSB is the investment arm of the Sabah state government.

Both companies signed a memorandum of understanding (MoU) today to facilitate cooperation.

JAKS chief executive officer Andy Ang Lam Poah said the partnership could foster an opportunity for both parties to further expand their business operations in the renewable energy sector.

“Leveraging on our experience in the power sector, particularly with the construction and development of JAKS Hai Duong coal-fired thermal power plant in Vietnam with the aggregate capacity of 1,200 megawatts, we are confident that the collaboration on the projects will be fruitful,” he said in a media statement.

Ang pointed out that the JAKS Hai Duong power plant was completed six months ahead of time and has since achieved its full commercial operation in January 2021.

JAKS has also been shortlisted for Malaysia’s large scale LSS4 solar power project, its first foray into the renewable energy sector.

Its shares closed today at 46.5 sen, down 1.5 sen.

-- BERNAMA

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