KUALA LUMPUR: Main Market listed Jentayu Sustainables Bhd has received key approval with conditions from the Securities Commission Malaysia (SC) regarding the acquisition of Telekosang Hydro and Jentayu Solar assets, which is a major milestone towards the group transforming into a renewable energy player.
KUALA LUMPUR: Jentayu Sustainables Bhd (JSB) announced that Telekosang Hydro Two Sdn Bhd has notified that the Telekosang Hydro 2 (TH2) run-of-river hydropower plant with a capacity of 16 megawatts (MW) has achieved its feed-in-tariff commencement date (FiTCD) as of Dec 25, 2023.
IPMUDA Bhd, which will be known as Jentayu Sustainables Bhd with effect from Jan 10 next year, aims to be a pure renewable energy (RE) play in three years, with a slew of RE projects in the pipeline primarily in Sabah.
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.
KAF Research initiates coverage on Ipmuda with buy call, target price of RM1 60 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.