Malakoff to acquire land worth RM150 mln for renewable energy development
22 Sep 2020
Malakoff Corporation Bhd (MCB) is in the process of acquiring 71.44 hectares (176.5 acres) of land in Mukim Pulau Sebang, Melaka worth RM150 million for future development of renewable energy power plants, not limited to large scale solar, waste-to-energy, biomass and biogas power plants.
In a filing to Bursa Malaysia today, it said that presently, the land is cultivated with mature oil palm trees between the ages of 13 and 39 years.
“In the past three years, the land had produced over 710 metric tonnes of palm oil fruit bunches. Access within the site is generally via laterite and gravel road, and the site boundaries are not delineated with any form of perimeter fencing,” it said.
It added that MCB, with the recent acquisition of Alam Flora Sdn Bhd (AFSB) in December 2019, also seeks to expand its waste management footprint locally by venturing into waste-to-energy, biogas and biomass power plants.
“MCB has set itself forward in the waste management industry with the acquisition of AFSB, and with Malaysia’s vision and aim to reuse wastes as a potential fuel source, MCB aspires to be a leading renewable energy developer in Malaysia with the key projects to be undertaken,” it said.
It also said that the land is easily accessible from the North-South Expressway (NSE) which allows for major developments to be undertaken, including, if necessary, the delivery of major equipment.
It added that the most important aspect of the land acquisition will be the availability of the injection point, where given its location, there are two possible options to access the land namely via a loop in loop out arrangement by tapping into the 132kV transmission line within the site or via direct connection to the nearby substations.
“Both injection points are viable interconnection options for future project development. With the addition of the land that is relatively flat and requiring relatively low capital expenditure for land clearing as well as located near two injection points and a major highway, MCB will be well positioned for the development of renewable energy projects in the future,” it said.