GCAP, Yayasan Sabah to raise RM3bil in JV

PETALING JAYA: G Capital Bhd (GCAP) via its wholly-owned subsidiary, CM Creative Itinerary Sdn Bhd has entered into a joint venture and shareholders’ agreement with Innoprise Synergy Sdn Bhd and Kerap Hijau Sdn Bhd to jointly develop mini-hydropower projects in Sabah.

State-owned organisation Yayasan Sabah Group is the holding company of Innoprise. Kerap Hijau has received approval to assume the name of Sabah Renewable Energy Corp Sdn Bhd.

The parties have agreed to collectively pool their resources to raise funds of not less than RM3bil for developing the first 200MW mini-hydropower projects.