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Friday, 28 July 2017

Edra Power expected to compete power 50 MW in Malaysia by early '18.

Image result for Kuala Lumpur-based independent power producer Edra solar
The Kuala Lumpur-based independent power producer (IPP) will finish building the project in the state of Kedah by the first quarter of 2018.

JA Solar will provide the PV modules, according to a company spokesman.

The project is being built on a 104-hectare plot of land in the town of Kuala Ketil, northeast of Penang.

Upon completion, the array is expected to generate about 80 GWh of electricity per year, several Malaysian media outlets reported last week, citing president and executive director Datuk Mark Ling.

Edra claims a 6.6 GW energy portfolio — the bulk of it gas-fired capacity — across 13 locations in Malaysia, Egypt, Bangladesh, Pakistan and the United Arab Emirates.

Earlier this month, Reuters reported that the company had scrapped its plans to launch an initial public offering on the Bursa Malaysia stock exchange.

China General Nuclear Power Corp. acquired Edra Global Energy — Malaysia’s second-largest IPP — in late 2015 from state-backed fund 1Malaysia Development for 9.83 billion ringgit ($2.2 billion).

Last April — shortly after acquiring Edra — China General Nuclear Power opened a new regional head office in Kuala Lumpur.

The Chinese state-owned power group has built a number of PV projects over the years, including a 10 MW rooftop array at Shenzhen Bao’an International Airport and the 100 MW Xitieshan installation in China’s remote Qinghai province, via wholly owned group unit CGN New Energy.

Last week, CGN New Energy recorded a net profit of $79.5 million, down 23.5% year on year.

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