Comintel to apply for start date of renewable energy plant

PETALING JAYA: Comintel Corp Bhd will put in an application for the commencement date of its renewable energy plant from the Sustainable Energy Development Authority Malaysia (Seda).

In a filing with Bursa Malaysia, the company said its subsidiary Comintel Green Technologies Sdn Bhd (CGT) had passed the test requirement process as per Tenaga Nasional Bhd (TNB) requirements.

It said with the certificate from TNB, the company will be applying to Seda to start the Feed-in Tariff (FiT) with TNB.

“Upon commencement of FiT, CGT will begin to generate revenue and is expected to contribute positively towards the financial performance of the group in the future,” Comintel said yesterday.

Comintel’s plan to commence its mini renewable power plant operations can be traced back as far as 2013.

In 2015, TNB had entered into a renewable energy power purchase agreement with Comintel, that involve conversion of biomass (solid waste) into renewable energy and supply back to TNB for 16 years from May 31, 2015.

In a separate filing, Comintel said it has signed a memorandum of understanding to sell its subsidiary BCM Electronics Corporation Sdn Bhd to Aurelius Holdings Sdn Bhd .

Both companies will be undertaking a due diligence study on the proposed disposal.

Comintel said the

BCM Electronics RM123.8mil. valuation stood of at