at , News
by FARA AISYAH
UiTM Holdings Sdn Bhd expects to develop three cogeneration (cogen) solar photovoltaic (PV) power plants that would cost between RM150 million and RM200 million this year.
UiTM Group chief commercial officer Ahmad Akmal Hamzah said the projects would be developed in collaboration with Maser (M) Sdn Bhd and IHI Corp from Japan, following the signing of a memorandum of understanding (MoU) by the three parties in Kuala Lumpur yesterday.
“This partnership will accelerate the step of our commitment to create an impact and make our presence known in the cogen development business,” he told a press conference after signing the MoU.
UiTM Holdings’ foray into the power generation business is a result of its successful bid to develop, own and operate a 50MW solar PV power plant from the Energy Commission early this year.
Cogen is a highly efficient and ecologically beneficial method of power generation by effectively utilising the fuel for the production of electricity and heat.
During the process, fuel energy utilisation is up to 90% with minimal loses.
Meanwhile, cogen can achieve primary energy savings of approximately 30% to 40% when compared to the separate purchase of electricity from the national electricity grid and gas boiler for onsite heating.
It also optimises the energy supply providing cost-savings benefits and lower emissions to the environment.
Maser’s CEO Fadzli Sharif said the company is currently negotiating with three automotive giants on the locations for the new solar PV plants within Peninsular Malaysia.
“We expect to finalise the proposal with necessary approvals soon, and hopefully these projects can take off by next year.
“There are 50 cogen power plants all over Malaysia in aggregate of 30MW electricity, and we are sure the number is going to increase steadily as electricity tariff goes up,” Fadzli said.
He said “it is the way to go” for businesses in Malaysia because the price of gas fuel is more reliable, stable and cheap.
UiTM Holdings and Maser have also agreed to cooperate and combine their resources and expertise to co-invest in developing the cogen plants.
As it is, IHI — the leading solution provider of power generating products — will be responsible for providing the technical support for the business development initiatives.