RM1.2 Bln Solar Project On Waqf Land To Boost Green Economy - MAIDAM

KUALA LUMPUR, June 10 (Bernama) -- An RM1.2 billion, 400-megawatt (MW) solar farm project on waqf land under the Chenderong Concession in Kemaman, Terengganu, is set to strengthen the role of waqf institutions as a driver of the nation’s green economy while generating income for the people.

Terengganu Islamic Religious and Malay Customs Council (MAIDAM) president Datuk Zulkifli Ali said the renewable energy project demonstrated that waqf assets could be developed professionally, productively and sustainably without compromising their original endowment purpose.

He said the project reflected the commitment of waqf institutions, the corporate sector and the state government in exploring a viable and sustainable development model that provided long-term returns to all stakeholders.

“It demonstrates MAIDAM’s commitment as the sole trustee of waqf assets in the state to ensure that the development of waqf assets, whether movable or immovable, is carried out through high-impact projects that generate sustainable, high-value and syariah-compliant returns and benefits.

“This is a real example of the waqf concept that not only preserves assets but also expands their benefits for current and future generations,” he said at the signing ceremony for the solar project involving MAIDAM, Anglo-Eastern Plantation (AEP) and reNIKOLA Holdings here today.

The ceremony involved the signing of a Tribute Arrangement Agreement between MAIDAM, AEP as the lessee of the Chenderong Concession waqf land, and reNIKOLA as the project developer, witnessed by Terengganu State Secretary Datuk Mohd Azmi Mohamad Daham.

Also present were MAIDAM chief executive officer Assoc Prof Datuk Dr Ahmad Azrin Adnan, reNIKOLA chairman Tan Sri Dr Mohamed Al Amin Abdul Majid and reNIKOLA managing director Boumhidi Abdelali.

The solar farm, to be developed on 2,023.43 hectares of land, forms part of a large-scale solar (LSS) project and is expected to generate approximately 930,800 megawatt-hours (MWh) of electricity annually.

Meanwhile, Mohd Azmi said the project reflected the confidence and commitment shared by waqf institutions, the private sector and the state government in developing assets sustainably for the benefit of the people and the state.

He said the state government viewed the project as being in line with its future development agenda, which emphasised sustainability, diversification of economic resources and the development of high-value sectors, while strengthening Terengganu’s position in the renewable energy sector.

“In addition to supporting the national green energy agenda, this project has the potential to create about 4,270 job opportunities for the people of Terengganu. This is a true manifestation of waqf, which not only preserves assets but also expands their benefits to current and future generations,” he said.

At the same time, Mohd Azmi reminded all parties that the project should be implemented prudently, taking into account environmental sustainability, biodiversity and good land governance to ensure that the planned economic development delivered lasting benefits for future generations.

-- BERNAMA