Malakoff to expand presence in RE, aims for 25% market share by 2031

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SHAH ALAM: Malaysian power company Malakoff Corporation Bhd is set to capture 25% of the total renewable energy (RE) market share in Malaysia by 2031,...

Malaysian power company Malakoff Corporation Bhd is set to capture 25% of the total renewable energy market share in Malaysia by 2031, on the back of their aspiration to achieve 1,400MW of RE capacity by 2031, in line with the government’s total RE target of 4,000MW by 2030.) said that their RE initiatives includes a variety of projects including solar and electric vehicles, financed through a combination of debt financing and internal funds .

He stated that Malakoff is actively seeking opportunities to expand its RE portfolio, explore large scale solar projects, and consider mergers and acquisitions to achieve this goal. “But it’s also a way for us to neutralise the fact that we have a lot of thermal plants. And people criticise us for not doing enough. So this is just a commitment in terms of trying to reduce or offset against the GHGs that we generate from our power plants,” he added.

Malakoff has inked the 25 years SPPA through its subsidiary Malakoff Radiance Sdn Bhd with the DRB-Hicom Group of Companies namely Motosikal dan Enjin Nasional Sdn Bhd, PMB Properties Sdn Bhd, Isuzu Hicom Malaysia Sdn Bhd, Hicom Automotive Manufacturers Sdn Bhd, CTRM Aero Composites Sdn Bhd, Hicom Teck See Manufacturing Malaysia Sdn Bhd, DRB-hicom Bhd, DRB-Hicom Defense Technologies Sdn Bhd, Defence Services Sdn Bhd and PHN Industry Sdn Bhd for the development, operation and maintenance of...

 

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