KUALA LUMPUR: MBI Modal Sdn Bhd, a subsidiary of the Terengganu state government, along with its joint venture partners HeiTech Padu Bhd and Inter Global Hydro Sdn Bhd, will be developing a mini hydropower development project in Sungai La, Besut.
Terengganu chief minister Datuk Seri Dr Ahmad Samsuri Mokhtar said the project has a capacity of 2.85 megawatts (MW) of energy and would serve as a critical renewable energy solution to the electricity supply challenges, especially in remote rural areas.
"This people-friendly project benefits Terengganu's natural resources for the community through continuous power generation and the provision of job opportunities for the locals," he said.
As a strategic investor, MBI Modal will implement the development of the mini hydropower together with HeiTech and Inter Global Hydro under the special-purpose company Domainedge Sdn Bhd.
HeiTech president and executive deputy chairman Datuk Sri Mohd Hilmey Mohd Taib is pleased with the opportunity and trust given by the Terengganu state government to contribute to the socio-economic development agenda in the state.
"This project will put HeiTech on the right track in achieving its goal of becoming a mini-independent power provider, or IPP, to energy suppliers in this country.
"It will be implemented with a capacity of 2.85MW and is expected to be able to cover the energy needs of the local population.
"We aim to complete this project before the third quarter of 2024, which is approximately 24 months," he said.
He added that the project is one of HeiTech's efforts to diversify its business, including exploring new business opportunities such as the renewable energy (RE) sector in line with the company's transformation agenda as a comprehensive technology provider company to the public and commercial sectors locally and globally.