Malakoff Corp Bhd signed a joint development agreement (JDA) with Concord Alliance Sdn Bhd last week to explore and develop biogas-based power generation projects.
The agreement was signed by Malakoff CEO Datuk Ahmad Fuaad Kenali, while Concord was represented by ED Datuk Khairuddin Mohd Hussin.
Under the JDA, both parties intend to collaborate to jointly develop, operate and maintain renewable-energy (RE) projects including biogas and biomass-based power generation to be jointly identified by the parties involved.
Malakoff said both firms have agreed to conduct feasibility studies for the purpose of evaluating the viability of the projects for development.
“The collaboration is intended to harness the biogas generated from the palm oil mill effluent (POME) 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,” Ahmad Fuaad said.
“The biogas and biomass- based power generation projects form part of Malakoff’s strategy to expand the RE segment and contribute towards meeting the government’s target to increase Malaysia’s RE generation capacity to 20% by 2025,” he said, adding that Concord has been chosen as the partner due to its capability and experience in the development, construction and operations and maintenance of biogas power generation projects.
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 on the development of several RE projects.
Malakoff’s wholly owned Teknik Janakuasa Sdn Bhd secured an operation and maintenance contract with a large-scale 29MWac solar photovoltaic power plant in Kota Tinggi, Johor.
Malakoff also most recently 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. — TMR