KUALA LUMPUR: Malakoff Corporation Bhd is planning to venture into waste-to-energy biogas and biomass power plants with the purchase of 71.44ha of land in Alor Gajah district, Melaka for RM150mil.
The independent power producer (IPP) said in a statement to Bursa Malaysia on Tuesday its unit, Malakoff R&D Sdn Bhd had signed a sale and purchase agreement with Eksklusif Pesona Sdn Bhd to acquire the land.
It said the land was planted with matured oil palm trees between the ages of 13 and 39 years. In the past 3 years, the Land had produced over 710 tonnes of palm oil fruit bunches.
Eksklusif Pesona is a unit of Tradewinds Plantation Bhd and its original cost for the land was RM4.24mil and the date of investment was Dec 24,2009.
Malakoff said it was continuously seeking potential plots of land for future project development to meet its current target of producing 10,000MW of power.
“With the recent acquisition of Alam Flora Sdn Bhd in December 2019, MCB also seeks to expand its waste management footprint locally by venturing into waste-to-energy, biogas and biomass power plants, ” it said.
Malakoff also said it has set itself forward in the waste management industry with the acquisition of Alam Flora.
With Malaysia’s vision and aim to reuse wastes as potential fuel source, Malakoff said it aspires to be a leading renewable energy developer in Malaysia with the key projects to be undertaken including but not limited to large scale solar, waste-to-energy, biogas and biomass power producer in Malaysia.
As for the location of the land, it could tap into the 132kV transmission line within the site or via direct connection to the nearby substations.
Malakoff said as the land was relatively flat and required relatively low capital expenditure for land clearing, and also due to its location, it would be well positioned to develop renewable energy projects.
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