UEM and ITRAMAS to develop 1GW solar power plant and green industrial park
By Sustainability Matters August 1, 2023
- First initiative to be announced under the recently launched NETR
- RE industrial park to attract foreign manufacturers and suppliers across the RE and EV value chains
UEM Group Berhad (UEM), a subsidiary of Khazanah Nasional, has inked Memorandums of Understanding with local and foreign investors to develop a 1 gigawatt hybrid solar photovoltaic power plant integrated with a Renewable Energy (RE) industrial park in Johor.
The Project is in line with the strategic and high-value national flagship energy transition projects under the National Energy Transition Roadmap (NETR), which targets that 70 per cent of the country's energy capacity be sourced from renewables by 2050, which was recently launched by RafiziRamli, Minister of Economy. UEM Group will develop the Project in collaboration with local investor ITRAMAS Corporation Sdn. Bhd. (ITRAMAS).
The RE industrial park aims to attract foreign manufacturers and suppliers across the RE and Electric Vehicle (EV) value chains and other high-tech companies to set up operations and R&D facilities.
Amirul Feisal Wan Zahir, Managing Director of Khazanah, said, "Khazanah fully supports the NETR, a catalyst for achieving Malaysia's aspiration to become a regional leader in energy transition and renewable energy. This Project is a step in the right direction and demonstrates UEM Group's commitment to sustainable green initiatives moving forward."
Foreign investors include the likes of Blueleaf Energy and ITRAMAS's existing partners, China Machinery Engineering Wuxi Co. Ltd. (CMECWUXI) and HEXA Renewables. The Project investors are discussing with UEM Group to consider participating through multiple potential roles, including collaborating on project development, financing and commercialisation. ITRAMAS and CMECWUXI also intend to be the anchor tenants and initial green electricity off-takers within the RE industrial park.
Mohd Izani, Managing Director of UEM, said, "ITRAMAS, Blueleaf Energy, CMECWUXI, and HEXA Renewables are investors that are not only committed to invest and develop Malaysia's renewable energy assets but have also pledged to upskill local contractors in the RE industry, provide job creation and undertake knowledge transfer, all of which fits into UEM Group's aim of creating high-quality employment opportunities for Malaysians."
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