KUALA LUMPUR, Sept 6 (Bernama) -- Gamuda Bhd via a joint venture has accepted a letter of notification from the Sabah Energy Commission (ECoS) for the Ulu Padas Hydroelectric project.
In a statement, Gamuda said the project will be developed by Upper Padas Power Sdn Bhd (UPPSB), a wholly-owned subsidiary of UPP Holdings Sdn Bhd, which is a joint-venture (JV) company of Gamuda with 45 per cent equity interest, Sabah Energy Corporation Sdn Bhd (40 per cent) and Kerjaya Kagum Hitech JV Sdn Bhd (15 per cent).
UPPSB will design, construct and operate the Ulu Padas Hydroelectric project through a 40-year power purchase agreement to be entered with Sabah Electricity Sdn. Bhd.
In a filing with Bursa Malaysia, Gamuda said once completed, the project is expected to generate revenue of over RM400 million per annum.
The Ulu Padas Hydroelectric project is located in Tenom and Sipitang districts, with an installed capacity of 187.5 MW, delivering an average of 1,052 GWh of clean energy yearly.
“The Ulu Padas Hydroelectric project is expected to achieve a scheduled commercial operation date (SCOD) by the end of 2030.
“A hybrid floating solar plant will be integrated into the reservoir area,” it added.
-- BERNAMA
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