BTM Resources gets green light to build power plant

BTM Biomass Products Sdn Bhd yesterday received the Feed-in Tariff (FIT) approval certificate dated July 1 from the Sustainable Energy Development Authority (Seda).

PETALING JAYA: BTM Resources Bhd’s unit has obtained approval to build and operate a renewable electrical power plant in Chukai, Terengganu, with a capacity to supply 10 MWh, for Tenaga Nasional Bhd (TNB).

In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary BTM Biomass Products Sdn Bhd yesterday received the Feed-in Tariff (FIT) approval certificate dated July 1 from the Sustainable Energy Development Authority (Seda), with the approval granted for a period of 21 years commencing no later than Jan 23,2023.

“The expected date of signing of the power purchase agreement (PPA) with TNB is October 2020 at a fixed tariff rate of 34.86 sen per kWh for 21 years, ” BTM said.