KUALA LUMPUR: Malakoff Corp Bhd is planning to venture into waste-to-energy biogas and biomass power plants after buying 71.44ha of land in Alor Gajah, Melaka, for RM150mil.
The independent power producer (IPP) said in a filing with Bursa Malaysia that its unit, Malakoff R&D Sdn Bhd had signed a sale and purchase agreement with Eksklusif Pesona Sdn Bhd to acquire the land.
The land is currently planted with oil palm trees aged between 13 and 39 years. In the past three years, the land produced over 710 tonnes of palm oil fruit bunches.
Eksklusif Pesona is a unit of Tradewinds Plantation Bhd and had bought the land for RM4.24mil on 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, Malakoff is also seeking to expand its waste management footprint by venturing into waste-to-energy, biogas and biomass power plants, ” it said.Malakoff also said it had set itself forward in the waste management industry with the acquisition of Alam Flora.
With the country’s vision and aim to turn waste into potential fuel source, Malakoff said it aspires to be a leading renewable energy developer with the key projects to be undertaken including but not limited to large scale solar, waste-to-energy, biogas and biomass power production.
As for the location of the land, it could tap into the 132kV transmission line within the site or via direct connection to nearby substations.
Malakoff said the land was flat and required low capital expenditure for land clearing. Due to its location, it was also well-positioned for renewable energy projects.
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