KPower bags 4 hydro power plant jobs worth RM510mil
Home » KPower bags 4 hydro power plant jobs worth RM510mil
PETALING JAYA: KPower Bhd has bagged four contracts worth a total of RM510mil to build hydro power plants in Pahang and Perak.
In a filing with Bursa Malaysia yesterday, the group said its subsidiary – KPower Engineering Sdn Bhd – had accepted the letter of award from Cabaran Hijau Sdn Bhd, Selat Serasi Sdn Bhd, Denai Delima Sdn Bhd and Koridor Mentari Sdn Bhd.
These projects include KPower undertaking the engineering, procurement, construction, commissioning and completion (EPCC) of four mini-hydro power plants, of which two will have a capacity of 18.7MW and 13.9MW in Pahang. The other two will be in Perak at sizes of 12MW and 5.25MW.
KPower said the scope of work under these appointments include the preliminary study, engineering, construction, supervision, testing, commissioning, reliability test and remedy of defects during the defect liability period and provisioning of all equipment, both permanent works and temporary works, in connection with the projects.
“The relevant parties will enter into a definitive agreement within 60 business days from the date of acceptance of the awards with the commencement of the execution of the projects to begin immediately, ” KPower said.
Its group managing director Mustakim Mat Nun said: “These projects represent our commitment to continue making in-roads in the renewable energy infrastructure space within Malaysia.”
He said the EPCC contracts in Pahang marked the group’s foray into the state. “The contracts mark our concentrated effort towards securing continuous projects for the group as we work to achieve our target of an additional RM2bil orderbook by this financial year-end, ” he said.
Mustakim pointed out that KPower was well-positioned to capture the growth in the renewable sector, driven by Malaysia’s and Asean’s target of 35% of the renewable energy share of installed capacity.
“We are optimistic of the prospects of the group in view of the resilient outlook for the energy sector and the expected economic recovery. This presents us with innumerable opportunities to capture and simultaneously expand our growth in the energy sector within Malaysia and regionally, ” he said.
To date, KPower said it had secured RM2.3bil orderbook including in Malaysia, Asean countries and Nepal since June 2019.
For this financial year, the group said it had secured RM1.2bil worth of projects.