KUALA LUMPUR: Gamuda Bhd has received approval from the Energy Commission of Sabah (ECoS) for its Ulu Padas hydroelectric project.
In a filing with Bursa Malaysia, Gamuda stated that the project is anticipated to generate more than RM400 million in annual revenue upon completion.
This initiative is a joint venture between Gamuda Bhd and Upper Padas Power Sdn Bhd (UPPSB) and will be developed by UPPSB.
The project involves building a dam in the Tenom and Sipitang districts of Sabah, which is expected to produce an average of 1,052 gigawatt hours (GWh) of renewable energy each year.
The project is projected to be completed within six years, with the target for commercial operation set on or before Dec 31, 2030.
"The project will contribute to Sabah's electricity generation, increasing the current dependable capacity by approximately 15 per cent and doubling the renewable energy mix upon completion," it said.
Gamuda said the project is in line with its long-term environmental, social and governance (ESG) strategy and commitment.