KUALA LUMPUR (Oct 18): G Capital Bhd is planning a joint venture (JV) to develop mini-hydropower projects in Sabah, which could see the JV raise funds of no less than RM3 billion for the first 200 MW. It would be G Capital's first foray into the renewable energy segment in East Malaysia. Its wholly owned unit, CM Creative Itinerary Sdn Bhd, on Tuesday (Oct 18) inked a JV and shareholders' agreement with Innoprise Synergy Sdn Bhd and Kerap Hijau Sdn Bhd.
G Capital to jointly develop mini-hydropower plants in Sabah, raise over RM3 bil theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Ipmuda Bhd, which will soon change its name to Jentayu Sustainables Bhd, said it has received the Sabah government’s approval for its proposal to develop two hydro plants in Sipitang with total capacity of 160 megawatts (MW). Ipmuda said the State government gave the greenlight to the group for “exclusive water and land rights to develop run-of-river hydroelectric cascading schemes” in Sungai Maligan and Ulu Padas, Sipitang, with installed capacity of 31MW and 129MW respectively.