Leader Energy Secures Over US$100 Mln Investment From CAF II
KUALA LUMPUR, Oct 9 (Bernama) -- Telecommunication and power manufacturer, Leader Energy Group Bhd has secured over US$100 million (US$1=RM4.28) investment from China-ASEAN Investment Cooperation Fund II (CAF II).
In a statement, the group said the investment was made to support the expansion of Leader Energy’s renewable power generation and transmission portfolio in Southeast Asia.
“We are grateful for CAF II’s vote of confidence and support as we seek to accelerate the growth of our renewable energy portfolio and contribute to the region’s energy transition to net zero.
“Their investment principles align with our commitment to a sustainable future, accelerating our efforts to contribute and to promote clean energy,” said executive deputy chairman and co-group chief executive officer, Datuk Sean H’ng.
Leader Energy currently operates assets with a combined hydro and solar power installed capacity of over 550 megawatts, along with 235km of transmission lines across Southeast Asia.
The company also has a strong pipeline of projects and aims to double its installed capacity within the next five years.
Through the partnership with CAF II, the group intends to accelerate its robust pipeline across the region and reinforce its position as one of the largest pure-play renewable energy companies in Malaysia.
CAF II, with an initial capital commitment of US$1 billion, is the largest Southeast Asia-focused infrastructure private equity fund ever raised.
This is CAF II’s second investment project, following its inaugural investment into Pertamina’s geothermal energy assets in Indonesia.
-- BERNAMA