Citaglobal executive chairman and president Tan Sri Mohamad Norza Zakaria
PETALING JAYA: Citaglobal Bhd
is acquiring majority stakes in two hydropower projects in Perak for RM15mil.
In a statement, the company said it is acquiring a 70% stake in Zeqna Corporation Sdn Bhd for RM15mil and a 70% equity interest in Koridor Mentari Sdn Bhd for RM1, conditional upon the completion of Zeqna’s acquisition.
“This strategic acquisition positions Citaglobal to capture immediate renewable energy revenue from the Slim Hydropower Plant, a proven brownfield hydropower asset in Slim, Perak, while the Kampar Hydropower Plant project — with all state-level approvals secured — is poised to generate robust returns on an accelerated timeline,” said Citaglobal.
The Slim Hydropower Plant, owned by Zeqna, is a 6 megawatts (MW) brownfield asset that has been operational since July 2019.
The Kampar Hydropower Plant, currently under development by Koridor Mentari, achieved a major milestone with the grant of a new Feed-in Approval (FiA) on July 25, 2025.
Under the terms of this FiA, the approved capacity has been increased from 5.25MW to 6 MW.
Executive chairman and president Tan Sri (Dr.) Mohamad Norza Zakaria said the acquisition of the Slim Hydropower Plant, a revenue-generating brownfield asset, together with the Kampar Hydropower Plant, a fully approved greenfield project with high potential, accelerates the growth of the company’s renewable energy business by several years.
“Slim Hydropower Plant will provide the group with an immediate source of recurring revenue, while Kampar Hydropower Plant, benefiting from its newly approved capacity and tariff, promises to deliver exceptional long-term value.
“Together, they provide a well-balanced platform for scaling our clean energy portfolio, which includes solar, waste-to-energy, and battery energy storage projects,” he said in a statement.
