buy apple account：Malakoff eyes RE growth
,The group said in its latest annual report that the expansion of its RE business will be a key priority for growth as it pursues solar, small hydro, biogas and WTE projects. (File pic shows Malakoff's Tanjongbin coal fired in Johor)
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PETALING JAYA: Malakoff Corp Bhd is seeking to expand its renewable energy (RE) business this year by securing more projects in the segment, including water-to-energy (WTE) plants.
The group said in its latest annual report that the expansion of its RE business will be a key priority for growth as it pursues solar, small hydro, biogas and WTE projects.
Malakoff banks on the government’s target to increase the national RE capacity mix to 20% and to build six WTE plants in the country – both by 2025.
In 2020, Malakoff secured three key rooftop solar projects. In addition, it won a bid for its second biogas power plant in Johor with a capacity of 2.4MW, via its subsidiary Southern Biogas Sdn Bhd.
Malakoff also progressed with two small hydro projects last year, with capacities of 25MW and 30MW located along Sungai Pahang.
The group had obtained the Feed-In-Tariff approvals in December 2019.
Moving forward, Malakoff also eyes expansion in the power and water industry, especially by tapping into opportunities abroad.
Malakoff also aims to grow its waste management and environmental services sector, both in the concession and non-concession businesses.
It is noteworthy that the group diversified into the waste management and environmental services sector through the acquisition of Alam Flora Sdn Bhd in 2019.
Looking ahead, Malakoff said it will ramp up its existing capabilities to be a key player in high-growth areas in line with future market reforms, while leveraging on emerging technologies, digitalisation and analytics to drive performance.
It added that it will strengthen its risk management approach by maintaining a strict focus on its cost savings and operations optimisation programmes.
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