Malaysian engineering-based infrastructure and services company UEM Group Berhad has secured majority shares in sustainable energy solutions company Cenergi SEA Berhad (Cenergi) from Khazanah Nasional Berhad (Khazanah).
UEM Group said in a statement on Wednesday that Cenergi is now a subsidiary of UEM Group.
“Cenergi has a commendable track record with projects and presence across the country,
“We see immense potential in this company and are committed to nurture as well as provide the necessary expertise, operational and financial support that will enhance Cenergi’s operational capabilities, secure more projects and usher in a new era of growth,” UEM Group Managing Director Mohd Izani Ghani said.
According to him, Cenergi is a key asset of UEM Group and the firm’s goal is to ultimately position Cenergi as a green domestic champion to contribute significantly to Malaysia’s sustainable future.
He also said renewable energy is one of the key sectors and immediate priority of UEM Lestra Berhad (UEM Lestra), the green industries arm and wholly-owned subsidiary of UEM Group.
“This is due to the sector’s strong market attractiveness and high importance to Malaysia’s decarbonization agenda,
“Cenergi’s extensive experience and capabilities in this sector makes them a valuable addition to UEM Group and UEM Lestra specifically,” he said.
He also noted that Cenergi’s inclusion in UEM Group of companies will further promote strategic complementarity amongst its subsidiaries across different core businesses.
“By leveraging on the expertise and strengths of each of our subsidiary, we will be able to create synergistic business opportunities for UEM Group as whole,” he added.
Incorporated in 2008, Cenergi specializes in reducing carbon footprint through investment in renewable energy specifically biogas, biomass and solar as well as energy efficiency projects.
The firm is Malaysia’s largest grid-connected palm oil mill effluent (POME) biogas player.
It has a portfolio of 23 biogas power plants in Malaysia and Indonesia, with a total generation capacity of 39.6 megawatt (MW).
It also has 20 solar projects across Malaysia, consisting of both solar farms and rooftop solar, with a cumulative capacity of over 37.6 megawatt peak (MWp).
At present, Cenergi has in the pipeline biogas, rooftop solar and solar farm projects that are under construction and development in Malaysia.
In addition, its subsidiary, Cenergi EE Holdings Sdn. Bhd. was recently allotted with a 29.99MWac quota under Energy Commission’s Corporate Green Power Programme (CGPP).
From August 2012 to May 2023, Cenergi via its various operating assets and investments have avoided over 2.4 million tons of carbon emissions, which translate into removing approximately 547,762 passenger vehicles from the road or powering 310,234 homes for a year.
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