KOTA KINABALU – Run-of-river (ROR) hydropower plant Telekosang Hydro One (TH1) in Tenom south of here has completed all prerequisite tests for its commercial operation date.
In a statement, Telekosang Hydro One Sdn Bhd and Jentayu Sustainables Bhd said the tests were witnessed by Sabah Electricity Sdn Bhd.
The Telekosang Hydro (TH) project is Malaysia’s largest privately owned cascading ROR hydropower plant, which managed to raise the world’s first greenfield mini-hydro green SRI sukuk under the shariah principle of wakalah bi al-istithmar.
Based on the tariff rate of RM 0.24/kWh under the renewable energy power purchase agreement, the project is expected to generate an estimated cash flow of more than RM65 million per annum over the next 21 years.
The COD of TH1 is a major milestone towards fulfilling the conditions precedent of the injection of TH into Jentayu Sustainables.
The acquisition process is expected to be completed later this year.
Telekosang Hydro chief executive officer and Jentayu Sustainables executive chairman Datuk Beroz Nikmal Mirdin said his companies are glad to be able to take part in Sabah’s effort to end energy deficiency and lead the way in providing sustainable energy solutions.
“Telekosang Hydro is a testament to our commitment to utilising the power of nature for a clean and reliable source of energy.
“This project is expected to provide a long-term sustainable revenue stream and profitability to Jentayu Sustainables and would put us on stronger financial footing as we continue to expand our footprint in the sustainable energy sector,” he said. – The Vibes, February 21, 2023
