RM4.5bil for 300MW of hydropower projects to generate RM12bil revenue? - MIDA | Malaysian Investment Development Authority
contrastBtngrayscaleBtn oku-icon


plusBtn crossBtn minusBtn


This site
is mobile


RM4.5bil for 300MW of hydropower projects to generate RM12bil revenue?

RM4.5bil for 300MW of hydropower projects to generate RM12bil revenue?

13 Apr 2023

G Capital Bhd says an estimated RM4.5 billion investment to build 300 megawatts (MW) of hydropower projects in Perak and Pahang may generate at least RM12 billion revenue.

To date, three small hydropower plants with a total capacity of 29 MW in Perak are operating and supplying the electricity generated to Tenaga Nasional Bhd via a renewable energy purchase agreement (REPPA) signed.

G Capital, through Perak Hydro Renewable Energy Corp Sdn Bhd, is a concessionaire in Perak for 49 rivers to build small hydropower plants with an estimated total installed capacity of 286.1 MW.

On the other hand, there are 26 MW of small hydropower plants to be developed in Pahang.

“The concession is currently on a mission to develop the remaining 257.1 MW of hydropower plants in Perak and 26 MW of hydropower plants in Pahang.

“Of which, 110 MW of hydropower plants has obtained Feed-In-Tariff (FiT) approval and the balance of 118.2 MW planned are well equipped with pre-feasibility and power system studies, ready for the next Sustainable Energy Development Authority (SEDA) e-Bidding under FiT scheme,” said G Capital.

GC Capital executive director Datuk Yap Yee Ping reaffirmed its commitment to completing the development of small hydropower projects in possession.

Yap said the immediate plan was to commence with the four projects with FiT approval, with them being 22 MW in Perak and 26 MW in Pahang.

“The total investment will be RM659.24 million with an expected revenue generation of RM1.44 billion from the date of commercial operation,” she said.

Meanwhile, Yap said G Capital had not neglected Sabah and Sarawak in promoting small hydropower.

The company entered a joint venture with the Sabah state government through Yayasan Sabah last year to develop small hydropower plants of over 200 MW at different locations across Sabah with investments of up to RM3 billion, she said.

“Sourcing to part-finance developments of existing projects with FiT Approvals, G Capital has proposed to undertake a renounceable rights offering on April 5, 2023. This will involve the issuance of up to 1,41 billion RCULS totaling RM112.8 billion with a five year, 8.0 per cent interest at a nominal value of eight sen each,” Yap said.

Source: NST