Asia Poly wins Seda bid to develop small hydropower plants

CAST acrylic sheet manufacturer Asia Poly Holdings Bhd has successfully won a bid to develop small hydropower plants with an installed capacity of 25.4Mw in Pahang.

In an exchange filing today, it said its indirect subsidiary company Asia Poly Hydro (Pahang) Sdn Bhd (APHP) has successfully won the feed-in tariff (FiT) e-bidding exercise conducted by Sustainable Energy Development Authority (Seda) Malaysia.

APHP is 70%-owned by Asia Poly via Asia Poly Green Energy Sdn Bhd, a wholly owned subsidiary of Asia Poly.

Under the e-bidding exercise, it said APHP shall develop a small hydro power plant with a total capacity of 25.4 MW in Pahang with a basic FiT rate of RM0.2382 per kilowatt-hour.

Asia Poly stock ended the day’s trading at 13.5 sen, giving it a market capitalisation of RM120 million. — TMR/pic source: