KUALA LUMPUR: LBS Bina Group Bhd
has signed a memorandum of understanding (MoU) with Invest Sabah Bhd, the Sabah Forestry Development Authority (SAFODA), and Midwest Green Sdn Bhd (MGSB).
In a filing with Bursa Malaysia, LBS Bina said the MoU outlined a collaboration to explore the feasibility of promoting innovative renewable energy projects in Sabah. Among other initiatives, the MoU included the proposed implementation of a 10GW Green Hydrogen Plant.
The MoU details plans for a green hydrogen production facility powered by solar and wind energy, as well as a future green industrial park. The projects will be located on a potential site of 15,000 to 30,000 acres in Kota Marudu, Sabah. The facility is expected to produce 10GW of energy, generating over 250,000 tonnes of green hydrogen annually.
LBS said the parties would work together to conduct land surveys and site inspections, facilitating the identification of optimal sites, and to establish a consortium structure, ensuring alignment with local and international stakeholders interested in this forward-looking venture.
The MoU is effective from the signing date and valid for 12 months, with the option for extension by mutual agreement.
