Malakoff signs deal with Concord to develop RE projects
KUALA LUMPUR: Malakoff Corp Bhd, a member of MMC Group, has signed a joint development agreement (JDA) with Concord Alliance Sdn Bhd to explore and develop biogas-based power generation projects.
Under the collaboration, both parties intend to collaborate with each other to jointly develop, operate and maintain renewable energy projects including biogas and biomass based power generation to be jointly identified by the parties. Both parties have agreed to conduct feasibility studies for the purpose of evaluating the viability of the projects for development.
The agreement was signed by Malakoff CEO Datuk Ahmad Fuaad Kenali while Concord was represented by its executive director Datuk Khairuddin Mohd Hussin.
Commenting on the agreement, Ahmad Fuaad in a statement said: “The collaboration is intended to harness the biogas generated from the palm oil mill effluent to generate electricity which, more importantly, will also avoid the release of the biogas generated by the POME into the atmosphere to preserve the environment.”
“The biogas and biomass based power generation projects forms part of Malakoff’s strategy to expand the renewable energy (RE) segment and contribute towards meeting the Government’s target to increase Malaysia’s RE generation capacity to 20% by 2025. Concord has been chosen as our partner due to its capability and experience in the development, construction and operations & maintenance of biogas power generation projects,” he added.
Malakoff currently owns a 50% interest in Macarthur Wind Farm in Victoria, Australia, with an effective generation capacity of 210MW.
Earlier this year, Malakoff signed a memorandum of understanding with Touch Meccanica Sdn Bhd to collaborate in the development of several RE projects.
Subsequently, Malakoff’s wholly-owned Teknik Janakuasa Sdn Bhd secured an operation and maintenance contract with a large scale 29MWac solarphotovoltaic power plant in Kota Tinggi, Johor.
Most recently, Malakoff entered into a conditional share sale agreement with HICOM Holdings Bhd to acquire 97.37% equity interest in Alam Flora Sdn Bhd to facilitate Malakoff’s expansion into environmental-related business such as the development of Waste-to-Energy projects.