KPower Bhd (“KPower” or through Mikrogrid Lestari Sdn. Bhd,, a 55%-owned subsidiary of KPower via KPower RE Sdn Bhd, a wholly-owned subsidiary of KPower, has successfully won its bid for the Feed-in Tariff (“FiT”) quota application under the purview of the Sustainable Energy Development Authority (“SEDA”) Malaysia today.
The competitive bidding for the FiT quota application for biogas, biomass, and small hydropower resources was opened by the Ministry of Energy and Natural Resources, through its statutory body, SEDA, in June 2021.
Executive Chairman, Mustakim Mat Nun said, “This is our second open bid win after our solar win in 2021 which will enable us to diversify our income portfolio via solar and hydro. With this win and recent proposal, the ownership of our assets under the renewable energy spectrum will generate in excess of 120 MW, thus, strengthening our concession-based recurring income for the long term.”
