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Malakoff - Illuminating Beyond Power

Managing director and group chief executive officer Anwar Syahrin Abdul Ajib

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, March 27 (Bernama) -- Malakoff Corporation Bhd is now a step ahead and expanding from being an independent power producer (IPP) to a global energy generation and environmental solutions player after the company embarked on a new business journey, particularly through the acquisition of Alam Flora Sdn Bhd in 2019.

Today, Malakoff has a diversified portfolio of businesses, with key focus on renewable energy (RE) (solar, small hydropower, biogas, biomass), integrated environmental solutions including waste-to-energy, carbon-free mobility infrastructure and water desalination.

 

The Group was successfully rebranded in May 2023

 

Credit : MALAKOFF

By aligning its core business practices through three business pillars (Malakoff Green Solutions, Malakoff Environmental Solutions and Malakoff Energy) with environmental, social and governance (ESG) principles, Malakoff is dedicated to minimising its environmental footprint, developing renewable energy solutions and promoting environmental stewardship.

Managing director and group chief executive officer Anwar Syahrin Abdul Ajib said the group’s rebranding is vital as the company moves away from the traditional IPP image towards becoming a global RE and environmental player guided by clear sustainability and ESG considerations.

“People look at us as being the old IPP organisation but we're more than that when we acquired Alam Flora. The focus is now a bit different, we are growing in terms of the portfolio of businesses that we have.

“We think these two have a synergy that addresses sustainability issues,” he told Bernama.

 

Renewable energy plans

 

He said for RE, the Group plans to achieve an RE capacity of 1,400 megawatt (MW) by 2031 and currently, its RE portfolio stands at 153 MW which is equivalent to 421,071 tonnes of carbon dioxide avoidance per annum.

“To set ourselves apart, we aim to undertake larger-scale projects. We believe in pursuing ventures of 200 MW, 300 MW, and even 500 MW.

“As a testament to our commitment, we have recently entered into a memorandum of understanding (MoU) with Masdar (during COP28) for a substantial 1,000 MW project,” he said.

Malakoff has signed a heads of agreement (HoA) with Abu Dhabi Future Energy Company PJSC-Masdar (Masdar) to collaboratively develop solar photovoltaic (PV) power project with an aggregate capacity of up to 1,000 MW and explore other potential RE projects across Peninsular Malaysia.

Masdar is a clean energy pioneer and powerhouse that has been at the forefront of the global energy transition with investments in RE projects, especially solar PV, across 40 countries.

Anwar Syahrin said the collaboration (with Masdar) aligns with the nation's ambitious goal to achieve approximately 70 per cent RE by 2050.

“We are presently conducting site visits to identify suitable locations for our projects. Our process involves conducting site surveys, radiation surveys and assessing connectivity options.

“Subsequently, we will proceed with power system studies to determine the feasibility of grid connection,” he added.

The signing ceremony was witnessed by Deputy of Transport Minister Yang Berhormat Datuk Haji Hasbi Haji Habibollah and Malakoff’s Executive Vice Chairman Tan Sri Che Khalib Mohd Noh. Also present was Deputy Secretary General Dr. Nor Fuad Abdul Hamid. Credoit : MALAKOFF

For 2024, the plan is to increase the group’s RE portfolio besides looking at the right partners for mergers and acquisitions.

“Getting at 200 MW a year would be the ideal target, but considering the ever-changing market and industry landscape, acquiring 100 MW of RE capacity in a year would be an achievement on its own.

“On the subject of identification of land for 100 MW, we need approximately 300 acres to 400 acres, depending on the terrain of the land itself. If we can get that scale of RE capacity coming in, that will be useful and we can see the traction,” he said.

Malakoff also has the strength to deliver large-scale solar projects. To date, in its portfolio, the group has 52 MW of solar installed capacity, from large scale solar (LSS) and rooftop solar (RTS).

“We are in the midst of developing 3 small hydropower plants with a total capacity of 84 MW in Kelantan as these projects and have just achieved financial closing.

“Hydropower has proven to be the cleanest low-carbon alternative offering the lowest greenhouse gas emissions per unit of electricity generated,” said Anwar Syahrin.

“Additionally, we are looking to further expand into e-mobility infrastructure. Currently, we are providing two electric vehicle (EV) chargers at Gas Malaysia Bhd headquarters at Shah Alam and Gas Malaysia Jalan Gurney, KL,” he added.

Last year, Malakoff signed numerous memoranda of understanding (MoUs) and solar power purchase agreements (SPPAs).

This includes MoU with ports under the MMC Group of Companies (MMC Ports); SPPAs with the DRB-HICOM group of companies, Gas Malaysia and Railway Assets Corporation (RAC) and Keretapi Tanah Melayu Bhd (KTMB); while the group also collaborates with Bank Muamalat Malaysia Bhd for RE financing programme.

 

Building capacity, biomass venture

 

Coal has its role to play and the transition of switching off coal completely can only be done when there is a stable source of alternatives.

“At present, solar power has limitations, providing 4 hours of energy. The integration of solar with batteries incurs significant costs and does not address the challenge of meeting base loads.

“Additionally, the impact of weather conditions, such as daily rain and cloud cover, poses challenges in harnessing the full radiance within the limited 4-hour window,” he said.

Anwar Syahrin also shared Malakoff’s biomass effort at Malakoff’s 2,100 MW Tanjung Bin Power Plant in Johor.

“Back in 2022, we successfully co-fired 0.5 per cent with empty fruit bunch (EFB) pallets at Tanjung Bin Power Plant. So, for this year, we're trying to co-fire with 2 per cent,” he said.

He said the group has undertaken investments in EFB, and is actively exploring co-firing options with environmentally friendly sources such as wood chips.

This initiative is aligned with Malakoff's commitment to counteract the negative perception surrounding coal by incorporating sustainable practices in its energy portfolio.

Due to Tanjung Bin Power’s achievement in co-firing, Malakoff is now one of the driving champions for the government’s flagship catalyst projects under its new National Energy Transition Roadmap (NETR) alongside the Ministry of Plantation and Commodities (KPK).

Besides biomass effort, Malakoff said there are also great potentials in the waste-to-energy (WTE) segment.

The country’s Housing and Local Government Ministry (KPKT) had announced 6 new WTE plants to be built nationwide by 2025 to efficiently treat solid waste while generating electricity based on a sustainable and integrated waste management concept.

Malakoff is also seriously looking to venture into the WTE space as it can significantly reduce the volume of waste destined for landfills and offers comprehensive economic and environmental benefits.

“We continue to seek and participate in potential greenfield and brownfield RE projects, environmentally related projects such as WTEs and water desalination projects (Middle East and North Africa region),” he said.

 

 

Environmental solutions, managing and reducing waste

 

It said through Alam Flora and Alam Flora Environmental Solutions (AFES), Malakoff has a noticeable footprint in the waste management business.

“We intend to grow further our concession and non-concession environmental solutions business to new concession areas within Malaysia such as Kelantan and Terengganu by providing solutions to our customers on managing and reducing waste.

“We are also seriously looking to venture into the WTE space as it can significantly reduce the volume of waste destined for landfills and offers comprehensive economic and environmental benefits,” he added.

On Oct 27, 2023, Malakoff entered into a conditional share sales and purchase agreement (SSPA) with Metacorp Bhd and Tuah Utama Sdn Bhd in relation to the proposed acquisition of 49 per cent equity interest in E-Idaman Sdn Bhd.  

This strategic initiative aims to expand its waste management operations in the northern region of Peninsular Malaysia. On waste management, the group targets to collect, handle and manage waste volume of 10,000 tonnes per day by 2031.

Additionally, Malakoff sets to achieve 15-20 per cent recycling rate by 2025, from waste collected by Alam Flora while at the same time focusing on achieving a Zero Waste Circular Economy goal.

-- BERNAMA

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