KUALA LUMPUR: Reneuco Bhd has today announced that its 40 per cent-owned special purpose vehicle with Citaglobal Bhd, has accepted a conditional letter of award from Malaysia Rail Link Sdn. Bhd.
Citaglobal Reneuco Energy Solution Sdn Bhd (CREES) will exclusively supply up to 100 megawatts of electricity and renewable energy to the ECRL network for both traction and non-traction.
The contract includes the undertaking of the development, design, construction, testing, commissioning and completion of the transmission and distribution interconnection facilities (IF assets) as well as the operation and maintenance of the IF assets during the 30-year concession period.
Upon the expiry of the concession period, MRL has the absolute discretion to renew for an additional 30 years, provided the ECRL network remains in operation.
CREES' main obligations and deliverables under the concession include construction and delivery of the IF assets at a lump sum cost of RM600.0 million, incorporation of a special purpose company (SPC) for the IF assets to be operated and maintained by the SPC.