KUALA LUMPUR: Jentayu Sustainables Bhd says Telekosang Hydro 2 (TH2) power plant with a capacity of 16 megawatts (MW) has achieved its feed-in-tariff commencement date (FiTCD) as of Dec 25.
In a filing with Bursa Malaysia today, Jentayu Sustainables executive chairman Datuk Beroz Nikmal Mirdin said with the achievement, TH2 has completed its development phase.
It is now fully online and operating commercially, supplying power to the Sabah Electricity Sdn Bhd (SESB) as contracted.
"Now that both TH1 and TH2 have achieved their final and most important milestones, we have satisfied a critical condition precedent necessary for JSB to acquire and inject TH1 and TH2 into JSB, subject to final approval by shareholders and regulators, especially as this exercise involves related parties.
"The upcoming acquisition of Telekosang Hydro One Sdn Bhd and Telekosang Hydro Two Sdn Bhd by Jentayu represents a major milestone in its plans to transform its business, strengthen its financial position, and further cement its position as a major player in the ever growing renewable energy sector," Beroz said.
The 40 MW Telekosang Hydro project as a whole (TH1 and TH2) is thus now providing clean and reliable electricity at one of the lowest tariff rates in the whole of Sabah.
Beroz said as per standard operating procedure, the relevant submissions to the Sustainable Energy Development Authority (SEDA) and SESB have been made.
"They will verify the test results and issue the appropriate certification in about three months," he said.
Beroz said with the same team working on the Project Oriole hydropower scheme, the company will deliver yet another commercially successful plant to significantly contribute towards Sabah's power needs.
Project Oriole is two run-of-river hydropower cascading schemes to be constructed along Sungai Malingan and Hulu Sungai Padas in Sipitang that will produce 170 MWs of power.
The project is estimated to cost RM2.8 billion and is expected to be completed by December 2027.