Jentayu Sustainables Berhad has received an Initial Letter of Notification (ILON) from the Energy Commission of Sabah
(ECOS), representing the state government of Sabah in regards to Project Oriole an RM2.8 billion hydropower plant.
At the same time the group also announced that it had received a key approval with conditions from the Securities
Commission Malaysia regarding the acquisition of Telekosang Hydro (40MW) and Jentayu Solar (5.99MW) assets.
Project Oriole is a RM 2.8 billion 170 MW run-of-river hydropower plant that will be located in Sipitang Sabah. It is being developed in line with the Sabah Energy Road Map and Master Plan (RAMP) 2040, which was published by the Sabah State Government in September 2023, and will play a significant role in meeting the current challenges surrounding Sabah’s electricity supply.
Procedurally, the ILON follows the agreement in principle by the Sabah State Government as communicated in the Letter of Intent dated 7th of October, 2022. Securing the ILON, Jentayu said is an important step in the overall approval process because it indicates that the Cabinet of the Sabah State Government has agreed to set the key terms and conditions of
the Initial Technical and Commercial Terms for Project Oriole.
Moving forward, the group said it will work closely with ECOS to finalize the energy tariff rate and other key technical parameters of the project in an accelerated manner.
The proposed acquisition of hydro assets will give Jentayu Sustainables Berhad control over the two run-of-river hydropower plants with a joint capacity of 40 MW which are currently being operated by Telekosang Hydro One Sdn Bhd and Telekosang Hydro Two Sdn Bhd in Tenom, Sabah. These are currently the largest privately owned run-of-river hydropower plants in
Malaysia.
The proposed acquisition of the solar asset meanwhile entails the acquisition of Jentayu Solar Sdn Bhd which currently operates a 5.99 MWa.c. solar power plant located in Pokok Sena, Kedah.
