KPower to acquire hydro assets in RM130mil deal

"This will enable KPower to expand our income streams and further strengthen our position in the sustainable energy and utilities sector," said executive chairman Mustakim Mat Nun

KUALA LUMPUR: KPower Bhd is planning to expand into hydro assets ownership via a deal with Pristine Falcon Sdn Bhd to purchase the entire equity interest in One River Power Sdn Bhd for RM130mil in cash and shares.

In a statement, the group said its wholly owned subsidiary KPower RE Sdn Bhd has inked a heads of agreement for the acquisition of five million shares in One River Power, which will give it 29.1MW hydropower plants in Kota Marudu, Sabah.