KOTA KINABALU: Yayasan Sabah sealed a joint-venture agreement with G Capital Berhad to produce renewable energy through mini hydroelectric power plants throughout Sabah to complement the State’s electricity supply generation.
Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said that by making use of
Sabah’s climate and rivers, mini hydroelectric power plants are among the holistic
solutions to the power supply shortage in the state.
“I am confident that this joint-venture agreement will contribute to stable power
supplyto Sabah Electricity Sdn Bhd (SESB) and attract quality investments,” he said.
The Chief Minister witnessed the joint-venture and shareholders agreement signing
ceremony at Menara Kinabalu here today. He said increasing the usage of renewable energy was in line with Federal Government’s policy and Sustainable Development Goals as well as with one of the three main thrusts of the Hala Tuju Sabah Maju Jaya which is green infrastructure and sustainability networks.
“Generation of green energy such as the small hydroelectric power plants will attract
more investors, particularly those prioritising green energy and environment, social
and governance,” he said.
It would support the growth and development of Sabah’s economy besides benefiting
the local industry and community, opening up more job opportunities, and creating
paths for professional careers, he said.
“In fact, the Parliament had recently passed the Renewable Energy (Amendment) Bill
2022 and the Sustainable Energy Development Authority (Amendment) Bill 2022 that
paves the way for the setting of Sabah’s own Energy Commission to fully manage the
state’s power supply.
“This historical achievement will allow Sabah to gain total control of its power supply
management including planning distribution to more households as well as
commercial areas. This is a major step towards achieving the Sabah Maju Jaya
development plan objective,” he said.
A better power supply infrastructure augured well with the State Government’s SMJ
investment initiatives to attract more investors to Sabah. Some of the major investors that had come to Sabah were the Korean copper foil firm, SK Nexilis, which had opened up a 100-acre factory with an investment value of RM4.2 billion as well as SBH Kibing, a China company that had also set up its multi- million factoryin Sabah, both at the Kota Kinabalu Industrial Park (KKIP).
Hence, the Chief Minister said the State Government welcomed the joint-venture
initiative between Yayasan Sabah and a prominent renewable energy company, Gcapital Berhad.
Under the agreement, several mini hydroelectric power plants among them in rivers at
Kota Belud will be built at with a total power capacity of 65 Mega Watt.
“The State Cabinet will continue to be supportive of project proposals that benefit the state and its people,” he said.
Signing the agreement on behalf of Yayasan Sabah was chairman of its subsidiary
company, Innoprise Synergy Sdn Bhd Tan Sri Pandikar Amin Mulia while G Capital
Berhad was represented by chairman of its wholly-owned company CM Creative
Itinerary Sdn Bhd, Zulkepli Mishat.
Also present were State Secretary Datuk Seri Panglima Sr Safar Untong, State
Attorney-General Datuk Nor Asiah Mohd Yusof, Yayasan Sabah Director, Datuk
Gulamhaidar Khan Bahadar, Palm Oil Industrial Cluster (POIC) Chairman, Datuk Seri
Panglima Yong Teck Lee, Qhazanah Sabah Berhad Chairman, Datuk Seri Panglima
Salleh Tun Said, Federation of Chinese Association Malaysia (Huazong) President, Tan Sri Goh Tian Chuan and G Capital Berhad Executive Director, Datuk Yap Yee
Ping.-pr/BNN
