• Local News 05
November-December . 2024 | @ green
• Local News 05
Uzma secures COD for 50MW solar plant
Malaysia- Turkiye green collaboration
MALAYSIA a n d Turkiye are exploring potential collaboration in the field of green and alternative energy , which is in line with Malaysia ’ s commitment to adopting more sustainable and eco-friendly energy sources .
Minister of Science , Technology and Innovation Chang Lih Kang said a meeting with senior management from the Turkish Energy , Nuclear , and Mineral Research Agency ( TENMAK ) opened doors for cooperation in nuclear energy research and the exploration of minerals critical to sustainable development for both countries .
The meeting , which took place on the second day of his official visit to Turkiye this week , aimed to strengthen and explore new cooperation opportunities in science , technology , and innovation ( STI ).
“ We are exploring the potential for collaboration in the green and alternative energy sectors , aligning with Malaysia ’ s commitment to a more sustainable and environmentally friendly energy approach .
“ This technical visit also provided us with more precise insights into the advanced expertise and technologies employed by TENMAK in energy management and nuclear research ,” he shared in a Facebook post .
He added that the collaboration between the Ministry of Science , Technology , and Innovation ( MOSTI ) and TENMAK is a step forward in ensuring Malaysia remains at the forefront of highimpact technology exploration , thus enhancing the country ’ s competitiveness in the technology and energy sectors .
OIL and gas services provider Uzma Bhd ’ s maiden 50-megawatt ( MW ) large-scale solar 4 ( LSS4 ) project in Sungai Petani reached its commercial operation date ( COD ) on Sept 25 .
Uzma Kuala Muda Sdn Bhd , the group ’ s indirect wholly owned subsidiary , received the Energy Commission ’ s ( EC ) noobjection letter on Oct 4 .
The plant , located in Ladang Bukit Hijau , marks Uzma ’ s first foray into asset ownership and development of an LSS plant under a power purchase agreement with Tenaga Nasional Bhd signed in August 2021 .
The project achieved financial close on July 14 , 2023 , and started the physical construction in November 2023 .
Uzma group Chief Executive Officer Datuk Kamarul Redzuan Muhamed said the financing journey was “ arduous ” while noting that it underscored both the group ’ s ability to secure funding and the confidence of financial institutions in the project ’ s value and Uzma ’ s commitment to advancing environmentally sustainable energy projects .
Uzma Environergy CEO Mohd Hilmy Abdullah Zawawi said the achievement demonstrated Uzma ’ s capability to deliver large-scale projects , further enhancing its position in the renewable energy sector .
Uzma anticipates the plant to contribute positively to its future earnings and generate clean energy , reducing approximately 1.8 million tonnes of carbon dioxide ( CO2 ) emissions over its operational life .
Uzma ’ s new energy operating segment , which undertakes solar farm construction and investment , contributed RM9.25 million or 1.3 per cent of the group ’ s RM701.99 million revenue ( before adjustments ) in the financial year ended June 30 , 2024 .
Seal to diversify into RE |
SEAL Incorporated Bhd has proposed diversifying its current activities to include renewable energy ( RE ) and related activities .
Seal , which is primarily involved in property investment , building contractor , project manager for property development and extraction and sale of timber , said its revenue had been declining for the past three financial years up to the financial year
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ended June 30 , 2024 .
“ The group ’ s financial performance over the financial years under review had mainly relied on property development and property investment , which collectively contributed approximately 86 per cent of the group ’ s total revenue .
“ As part of the group ’ s strategy to diversify and create an additional revenue and income
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stream , it has therefore identified the investment in RE and related activities such as solar energy as a viable business to venture into .”
Notwithstanding the proposed diversification , Seal said it intends to continue with its existing businesses , and the board will review the group ’ s business performance from time to time , with the intention to further improve its financial performance . – @ green
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