reNIKOLA Holdings Sdn. Bhd. has concluded the subscription of new redeemable preference shares in two solar photovoltaic power generation projects in Machang, Kelantan, and Kuala Muda, Kedah, as well as completed the acquisitions of three companies holding the parcels of land where the solar power plants sit on.
The Machang, Kelantan solar plant boasts a generating capacity of approximately 45 MWdc and sits on on parcels of land measuring 110.3 hectares, reNikola said it is an operational asset, having achieved a commercial operation date in April 2023. Meanwhile, the Kuala Muda, Kedah solar plant is also an operational asset, having commenced in March 2022 with similar capacity of approximately 45 MWdc and sits on 86.5 hectares of land.
Managing Director of reNIKOLA, Boumhidi Adel, said, “With this latest acquisition the group now officially operates five solar photovoltaic plants in Peninsular Malaysia with an aggregate of 178 MWdc in generating capacity. In addition to solar, we also have interests in biogas and mini hydropower plants as well.”
The group also mentioned the settlement agreement entered into with Kazuomi Kaneto and DPI Solar 1 Pte Ltd back in August 2022 in relation to the Writ of Summons and Statement of Claims is now completed.
Moving ahead, reNikola said it is now eagerly awaiting the application window for the Corporate Green Power Programme or CGPP to open next month. A new initiative in Malaysia, CGPP gives corporations another option to secure green electricity via virtual power purchase agreement.
