In a bourse filing, Bintai Kinden said the project in question entails the development of a new extra-high voltage substation at Petronas LNG Complex (PLC).
The new substation will connect directly to Sarawak Energy Bhd's 275kV substation, and provide 90MW of power to PLC through its existing 33kV network.
"By reducing PLC’s internal power generation, 90MW of electricity will be sourced from Sarawak Energy’s substation which is mainly generated by renewable hydroelectric power.
"Hence, this Project unleashes the potential for PLC to utilise renewable energy in its operation," said Bintai Kinden.
Under the joint venture agreement, Bintai Kinden will own 80% of the contract while the remaining 20% will go to Kejuruteraan Gemilang Jaya.
Bintai Kinden deputy CEO Azri Azerai said, if successful, the company’s participation will mark its maiden foray into the renewable energy sector.
“As sustainability becomes front and center in Malaysia’s transition towards net zero carbon emissions, the power import project allows Bintai Kinden to play a role in addressing carbon footprint in natural gas plays, already the cleanest fossil fuel supply.
“Bintai Kinden will seek more opportunities in the renewable energy space, which will only see further growth as the region develops more renewable energy related infrastructure in the future,” he said in a statement.