Inno Hydropower News Today

KUALA LUMPUR (Oct 19): Reneuco Bhd, through its subsidiary Reneuco RE Sdn Bhd, has entered into a conditional share sale agreement (SSA) with OHP Ventures Sdn Bhd (OVSB) to acquire Adat Sanjung Sdn Bhd (ASSB) for RM90 million in a cash-plus-shares deal.

IPMUDA Bhd, which will be known as Jentayu Sustainables Bhd with effect from Jan 10 next year, aims to be a pure renewable energy (RE) play in three years, with a slew of RE projects in the pipeline primarily in Sabah.

Ipmuda Bhd, which will soon change its name to Jentayu Sustainables Bhd, said it has received the Sabah government’s approval for its proposal to develop two hydro plants in Sipitang with total capacity of 160 megawatts (MW). Ipmuda said the State government gave the greenlight to the group for “exclusive water and land rights to develop run-of-river hydroelectric cascading schemes” in Sungai Maligan and Ulu Padas, Sipitang, with installed capacity of 31MW and 129MW respectively.