MALAKOFF, CONCORD SIGN JOINT DEVELOPMENT AGREEMENT ON RE PROJECTS
KUALA LUMPUR, Sept 7 (Bernama) – Malakoff Corporation Bhd has signed a joint development agreement with Concord Alliance Sdn Bhd to explore and develop biogas based power generation projects.
Under the collaboration, both parties intend to jointly develop, operate and maintain renewable energy projects including biogas and biomass based power generation identified by both parties.
Malakoff and Concord Alliance also have agreed to conduct feasibility studies to evaluate the viability of the projects for development.
Malakoff Chief Executive Officer Datuk Ahmad Fuaad Kenali said the collaboration was intended to harness the biogas generated from palm oil mill effluent (POME) to generate electricity, and also to avoid the release of biogas generated by the POME into the atmosphere to preserve the environment.
“The biogas and biomass based power generation projects forms part of Malakoff’s strategy to expand the renewable energy (RE) segment and contribute towards meeting the government’s target to increase Malaysia’s RE generation capacity to 20 per cent by 2025," he said in a statement today.
Ahmad Fuaad said Concord had been chosen as Malakoff's partner due to its capability and experience in the development, construction and operations and maintenance of biogas power generation projects
Malakoff currently owns a 50 per cent interest in Macarthur Wind Farm in Victoria, Australia, with an effective generation capacity of 210 megawatt.
-- BERNAMA
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