G Capital Bhd has entered into a joint venture (JV) and shareholders’ agreement with Worldwide Energy Development Sdn Bhd (WED) and Cekap Hydropower Sdn Bhd to jointly participate in the e-bidding submission for small hydro quota 2021.
In a filing with Bursa Malaysia yesterday, it said the e-bidding would be submitted via Cekap Hydropower to the Sustainable Energy Development Authority’s (SEDA) e-bidding online system by June 29, 2021.
“In the event the bid is successful, Cekap (Hydropower) intends to design, construct, develop, operate and maintain a mini-hydropower plant at Sungai Bernam with an estimated installed capacity of six megawatt and all relevant works,” it said.
It said in addition to the Sungai Bernam project, Cekap Hydropower would also undertake the development and construction of an interconnection facility and related works at the TNB Transmission Main Intake (PMU) Proton City Substation in Muallim, Perak, including the development, construction, operation and maintenance of a collector substation adjacent to the substation.
G Capital said the Sungai Bernam project has the potential to generate revenue of up to RM271.7 million to the parties over a span of 21 years from the date of commission.
“The proposed joint venture will be of the best interest of the parties involved as the costs of the interconnection facilities are to be shared amongst the projects,” it added.