Samaiden to build 7MW biomass power plant in Johor - MIDA | Malaysian Investment Development Authority
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Samaiden to build 7MW biomass power plant in Johor

Samaiden to build 7MW biomass power plant in Johor

30 Jan 2024

Renewable energy (RE) player Samaiden Group Bhd has received approval to construct and operate a biomass power plant in Tangkak, Johor, with an installed capacity of seven megawatts, as it aims to supply a net export capacity of six megawatts to Tenaga Nasional Bhd (TNB).

This is following the Feed-in Tariff (FiT) approval certificate received by the group’s indirect wholly-owned subsidiary Samaiden Biomass Energy Sdn Bhd from the Sustainable Energy Development Authority (SEDA) Malaysia in a letter dated Jan 22, 2024.

The agreement to supply the electricity to TNB spans 21 years and is scheduled to commence on Jan 22, 2027.

“This FiT approval is a testament to our team’s dedication and expertise in the RE sector. Our new biomass power plant in Johor is a key component of our strategy to enhance Malaysia’s RE capacity. This project not only signifies our growth but also our contribution to the nation’s commitment to a sustainable energy future,” said Chow Pui Hee, Samaiden’s group managing director in a statement on Tuesday.

Samaiden’s shares traded up eight sen, or 6.84%, to close at RM1.25 on Tuesday, giving the group a market capitalisation of RM515.64 million.

Source: The Edge Malaysia