Kawan Renergy secures feed-in approval for 2.5MW biomass plant
KUALA LUMPUR: Kawan Renergy Bhd has secured feed-in approval from the Sustainable Energy Development Authority Malaysia for a 2.5-megawatt (MW) biomass power plant in Ipoh.
Kawan Renergy Bhd has obtained feed-in approval from Malaysia's Sustainable Energy Development Authority for a 2.5-megawatt biomass power plant in Ipoh, according to a filing with Bursa Malaysia. The approval, granted to Magenko Renewables (Ipoh) Sdn Bhd, its wholly-owned subsidiary, is under the 2026 Feed-in Tariff system. The 2.5MW plant will generate a net export capacity of 2MW, and is scheduled to commence electricity supply on August 17, 2029, under this FiT arrangement.
The agreement spans a 21-year period, during which Kawan Renergy will receive a basic tariff of 38 sen per kilowatt-hour for the first ten years, followed by a reduced rate of 28.8 sen per kWh for the remainder of the contract. The project is slated to be completed by August 17, 2029, and is set to be funded by the proceeds from the company's initial public offering and bank financing.
Kawan Renergy anticipates that the biomass plant will positively impact the group's performance throughout the 21-year FiT period, commencing August 2029.
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