KUALA LUMPUR: Reneuco Bhd has signed two Memorandums of Understanding (MoU) with Menteri Besar Kedah Incorporated (MBI) to develop green energy projects in the state.
In a statement, the company said the projects would cover biomass, hydro and solar.
The first MoU entailed a collaboration to form a consortium to develop and bid for biomass power plant and small hydropower plant in Kedah for the bid submission of tender to the Sustainable Energy Development Authority (SEDA).
The second MoU was inked between Reneuco and MBI, together with Malaysia Photovoltaic Industry Association and Itramas Corporation Sdn Bhd, to jointly develop plans and support the decarbonisation ambitions of all parties in the northern region via the development of renewable energy (RE) projects through solar, hydro and biomass sources in Kedah.
In both of the MoUs, MBI will assist in state related matters pertaining to land, approvals, permits and others, while Reneuco and the other parties will provide the expertise, resources and technology required.
Reneuco will further share and develop the local companies' expertise and experience in the area of RE.
Reneuco executive chairman Datuk Mustakim Mat Nun said the pact was not only in one area of hydro but also involved biomass and solar.
"After Terengganu recently, an endorsement by the state of Kedah is highly valued and will give us a huge opportunity in the state.
"The involvement of Malaysia Photovoltaic Industry Association and Itramas Corporation in the project is a testament of our ability to work with various parties to pursue the sustainable and green agenda," he said in a statement.
He added that the MoUs marked the company's first project in Kedah and represented its first project in northern Malaysia.
"Simultaneously, this increases our footprint in Peninsular Malaysia," he said.
The MoUs are expected to result in future projects that will contribute positively to Reneuco's future financials.