It has submitted proposal to build solar power plant in Selangor

KUALA LUMPUR: Berjaya Corp Bhd (BCorp) has submitted a proposal to the Government to build a 100MW solar power plant in Bukit Tagar, Selangor, said its chairman Tan Sri Vincent Tan.

If this proposal goes through, it will be BCorp's first venture into renewable energy sector.

Tan said the power plant would cost RM800mil to RM1bil. For the investment to be viable, it would depend on the feed-in tariff (FiT) set by the Government.

He added that BCorp's South Korean partner Posco Engineering & Construction Co Ltd would probably be involved in the project as it had the required expertise.

“Malaysia has plenty of sunlight. It would be wasted if we do not embark on solar projects. For the solar to work though, we need the FiT to make it viable,” said Tan after the signing of a memorandum of understanding (MoU) between BCorp and Posco yesterday.

In a nutshell, a feed-in tariff is an incentive structure to encourage the adoption of renewable energy (RE) through Government legislation. Tenaga Nasional Bhd will be obliged to buy renewable electricity at above-market rates set by the Government over a specific period of time from the day the system is connected to the grid.

Government officials have said that tentatively, the combined quota for RE for this year is 111MW for all RE technology. Of this, 16MW would be allocated for both small and large-scale solar photovoltaic producers. However, the allocation for solar could increase in years to come.

The MoU signed will see BCorp and Posco working closely and sharing their respective expertise and resources in property development and infrastructure construction, RE as well as petrochemical plants.

Posco will share its expertise in energy, chemical and water treatment plants while BCorp will assist in prospective property development businesses in Malaysia and other markets, especially Vietnam.

• 
• 
• 

More News Business Headlines      Malaysia tycoon Vincent Tan plans IPO of football club Cardiff City      Google, like Facebook, in talks to buy Waze for about US$1bil      Crown selling entire 10% in rival Echo, partly owned by Genting(Update)      First edition of 'Great Gatsby' to be sold at auction, can fetch US$150,000      Malaysia leads the way in Basel III debt      Markets face rough summer ride as Fed pullback feared      Wall Street sags, HP hits 52-week high      Commodities trader sues BP, Shell others for alleged oil price fixing      Billionaire Icahn seeks up to US$7bil for Dell bid      Google faces new federal antitrust probe      Goldman Sachs unveils checks on conflicts in bid to fix tarnished image      Air Asia's Tony Fernandes to ‘fire up’ investors      Maybank bullish on growth, to expand regionally under new leadership      Khazanah appoints Nor Mohamed deputy chairman      Lafarge Malayan Cement to finalise next expansion plans by August      Daibochi expanding exports to S-E Asia and Australia      TDM to expand plantation and hospital ops      FBM KLCI declines on selling pressure in key regional markets      UMW Rig Asset acquires new jack-up drilling rig             ECM Libra aims to exit PN17 soon      RAM reaffirms rating on Tanjung Bin sukuk      RM705mil vessel job for Perdana Petroleum      UOA REIT bullish on assets      China Railway Corp sells US$3.26bil of debt      IHH first-quarter profit improves on higher revenue      YTL posts lower earnings for Q3, but nine-month profit rises 10.6%      MISC turns around in Q1      Petronas Dagangan quarterly earnings down 3.7%      MRCB first-quarter net profit falls on lower revenue      Daiman Q3 profit doubles to RM31mil      Lower profit for Unico-Desa, hit by depressed CPO prices      KUB in JV with Singapore firm on multi-billion ringgit Petronas Rapid Tank Project      Danajamin names non-exec director      Axiata declines to confirm or deny that it is bidding for Indonesian telco      Singapore GDP growth surprises, beats economists’ forecast of contraction      US stimulus pullback hinges on traction signs, decision could come at one of ‘next few meetings’      IMF chief in court for French arbitration case      Firm settles US SEC charges over data breach      Australia's Crown sells $255mil stake in rival Echo      Draghi says euro zone more stable, "needs a more European UK"      Sears losses mount, weighs sale of unit to shore up liquidity      Former Goldman banker settles SEC 'pay-to-play' charges      What does Lockheed's F-35 fighter jet really cost?      NYSE says AEP, NextEra trades stand after crash at open      Procter & Gamble brings back former CEO to fix company      Canadian businessman goes on trial in Cuba for corruption  Go

• Malaysian Buddhists celebrate Wesak Day
• Robber shot dead after attacking out-of-uniform cop with meat cleaver
• PKR preparing five-year GE14 'war' plan, says Azmin
• Tian, Tamrin and Haris released after remand denied (updated)
• Sea lanes, barter trading to be reviewed, says Esscom D-G
• Najib and Palanivel to discuss deaths in police custody
• Single-party Barisan Nasional is feasible, says Muhyiddin
• Rafizi: PKR filing election petition for Balik Pulau parliamentary seat
• Karpal calls for state-level Senate elections
• Copies of Opposition tabloids seized for violating permit
• Rally organisers told to adhere to Act or face the music
• Three held over May 13 statements
• Umno leaders back police action against those who utter seditious remarks
• KL car number plates to bear ‘W1A’
• Thousands throng thanksgiving rally by DAP

• London's Heathrow airport closed after emergency landing
• Far East quake felt in Moscow, tsunami warning lifted
• Police make new arrests in London soldier killing
• Britain's press demands jailing of Islamist preacher
• Tsunami warning in Russia's Far East after 8.2 quake
• US bridge collapse sends cars, people into river
• Strong quake strikes off Tonga
• Jury fails to decide on US murderer death sentence
• One killed in Brazil giant fuel depot blaze

• Kingston leads, McIlroy in Wentworth woe
• LPGA plans 12-hole rounds in water-logged Bahamas
• Ryan Palmer sizzles with 62 to seize lead at Colonial
• Kelly overcomes scare to clinch title in KLGCC
• Time to make amends Garcia wants to meet Woods to defuse racist row
• American Johnson back to defend Colonial crown
• Rain dampens debut of LPGA Bahamas event
• Tianlang adds another US event to schedule
• Clock ticking for next golden generation
• Nadal wants to create history at Roland Garros
• Serena out to tame French Open demons
• Zheng Jie stuns Wozniacki in Brussels
• British Open: Ramy Ashour racks up 38th successive win
• Nicol David sails into quarter-finals of British Open in 35 minutes
• BAM must stop rewarding mediocrity or be doomed

• Please wait.

• Singapore GDP growth surprises, beats economists’ forecast of contraction
• Air Asia's Tony Fernandes to ‘fire up’ investors
• Malaysia leads the way in Basel III debt
• Malaysia tycoon Vincent Tan plans IPO of football club Cardiff City
• Wall Street sags, HP hits 52-week high
• Lower profit for Unico-Desa, hit by depressed CPO prices
• TDM to expand plantation and hospital ops
• Lafarge Malayan Cement to finalise next expansion plans by August
• Daibochi expanding exports to S-E Asia and Australia
• Markets face rough summer ride as Fed pullback feared

Copyright © 1995-2013 Star Publications (M) Bhd (Co No 10894-D) - Investor Relations