January 08, 2018
Malakoff, TMn signs MoU on RE Projects
8 January 2018, Kuala Lumpur – Malakoff Corporation Berhad (“Malakoff”), a Member of MMC Group signed a Memorandum of Understanding (“MoU”) with Touch Meccanica Sdn Bhd (“TMn”) at Hotel Istana, Kuala Lumpur, today. The MoU was signed by Malakoff Chief Executive Officer, YBhg Dato’ Ahmad Fuaad Kenali while TMn was represented by its Chief Executive Officer, Y.M. Tengku Dato’ Abdul Aziz bin Tengku Ibrahim, in the presence of Kebawah Duli Yang Maha Mulia Pemangku Raja Pahang, Tengku Mahkota, Tengku Abdullah Al-Haj Ibni Sultan Haji Ahmad Shah Al-Musta'in Billah.
The Terms of the MoU included collaboration to develop several energy projects, particularly in large scale solar photovoltaic and mini hydro power projects in Pahang Darul Makmur. Pahang is the largest state and has the longest river in Peninsular Malaysia, making it attractive for the development of large scale solar photovoltaic and small hydro projects.
Both companies have agreed to discuss on exclusive basis with respect to matters relating to the energy projects and for Malakoff to conduct a feasibility study for the purpose of ascertaining the technical and commercial viability of the projects.
Commenting on the MoU, Dato’ Ahmad Fuaad said, “This MoU will serve as a platform to exchange knowledge and expertise that will be of invaluable benefit to both companies. It also shows Malakoff’s commitment to expand renewable energy (“RE”) in its generation portfolio. These projects will serve as a catalyst for Malakoff to play a bigger role in developing RE projects in Malaysia.
“Currently, Malakoff owns a 50 percent stake in Macarthur Wind Farm in Victoria, Australia, with an effective generation capacity of 210MW,” he added.