Renewable energy producer reNIKOLA Holdings has completed the subscription of new redeemable preference shares in two solar photovoltaic power generation projects in Malaysia.
These projects are located in Machang, Kelantan and Kuala Muda, Kedah.
According to the company, the Machang solar plant is able to generate electricity at a capacity of around 45 MW of direct current. The plant is spread across 110.3 hectares of land and has already started operations.
Similarly, the Kuala Muda solar plant is capable of generating power with similar capacity. The plant is spread across 86.5-hectare of land.
In addition, the company has also acquired three companies with parcels of land where the solar power plants are located.
According to company Managing Director Boumhidi Adel, reNIKOLA operates five solar photovoltaic plants in Peninsular Malaysia with an aggregate of 178 MWdc in generating capacity with the addition of these new projects.
Besides the solar plants, the company is also keen on biogas and mini hydropower plants. Recently, reNIKOLA had inked a total of four renewable energy power purchase agreements with Tenaga Nasional Bhd, it stated.
So far, reNIKOLA owns and operates large-scale solar power plants across the country. It has an aim of building a RE portfolio of up to 1GWdc which includes both solar and non-solar power plants.
