Telekosang Hydro reaches initial operation date, paving way for Jentayu to conclude its acquisition

KUALA LUMPUR (Nov 7): Telekosang Hydro in Sabah, which reached its initial operation day (IOD) on Saturday (Nov 5), is set to be one of Malaysia’s largest run-of-river hydropower plants, generating an estimated 245,000 MWh of electricity annually.

Announcing this in a joint statement with Telekosang Hydro One Sdn Bhd, Jentayu Sustainables Bhd said the IOD paves the way for Jentayu to conclude its acquisition of Telekosang Hydro, in line with the group’s aspiration to be a major green energy player in the country.

Datuk Beroz Nikmal Mirdin, the chief executive officer of Telekosang Hydro and executive chairman of Jentayu Sustainables, said the acquisition will enable the group to also provide ancillary services under the banner of integrated sustainability solutions, such as renewable energy certificate, carbon advisory and carbon management.

“As a group, we will continue to advocate sustainability as the pulse of our business and in all our undertakings — including preservation and rehabilitation efforts.

“We are finalising terms and conditions for Sabah Forestry Department to lead our restoration and reforestation exercise to ensure preservation of biodiversity surrounding the area of Telekosang Hydro,” he said.

Jentayu’s share price finished 0.81% or half a sen lower at 61.5 sen on Monday, bringing the group a market capitalisation of RM217.2 million.