Bina Puri Holdings achieved its latest milestone when its local wholly-owned power subsidiary, BP Energy received its Letter of Acceptance to undertake a development of 5.00 MWa.c. Large Scale Solar Plant in Kunak, Sabah from Suruhanjaya Tenaga.
In a statement today, Bina Puri Group Executive Director, Datuk Matthew Tee Kai Woon said: “Moving forward, we are indeed very positive and planning to add more solar farms and mini hydro powers onto our power portfolio. This is Bina Puri’s first power project in Malaysia after the successful listing of our power subsidiary in Indonesia Stock Exchange (IDX) June 2017. The project is on Build-Own-Operate (BOO) basis, is located at Kampung Dasar, in Kunak and all documentation is expected to be finalised by March 2018.”
For record earlier on 5 June 2017, Bina Puri Unit, PT Megapower Makmur (MPOW), an independent power producer was listed on Indonesia Stock Exchange, IDX. MPOW is operating eight diesel power plants with capacity of 54 megawatts at eight (8) locations throughout Indonesia and a mini-hydro plant at Sulawesi Selatan, Indonesia.
Large Scale Solar Plant (LSS) is one of the initiatives of ST to increase the penetration of Renewable Energy in the market. Malaysia intends to reduce its greenhouse gas (GHS) emissions intensity by 45 percent by 2030, and by then Malaysia is targeted to have 30 percent of Renewable Energy including hyro and solar farms.
In Sabah itself, the demand of electricity is forecasted to grow at a rate of 5 percent (medium term) in year 2019-2024, after the short term forecast of 6.1 percent in 2015-2018. By the year 2035, demand of electricity in Sabah is forecasted at 1,238 MWac daily usage.
“While construction remains the biggest top line contributor for Bina Puri in FY2016, we believe the contribution from other business divisions especially Power Supply will increase in FY2017 as well as FY2018. Prospects will be better for the Company moving forward and with our combined strength and expertise, we are devoted to take this journey to the next level to enhance our shareholders’ value,” Datuk Matthew Tee added.