(Source: Shutterstock.com)
Hexa Renewables, a portfolio company of infrastructure investment manager I Squared Capital, agreed to a memorandum of understanding (MOU) to develop up to one gigawatt of hybrid solar photovoltaic projects in Malaysia, I Squared announced in a July 27 press release.
The MOU is with UEM Group Berhad, a wholly owned subsidiary and investment platform of Khazanah Nasional Berhad, the sovereign wealth fund of the Government of Malaysia. Also in the agreement is Itramas Corp., the largest vertically-integrated solar power plant developer in Malaysia.
The companies will cooperate on offtake agreements and the planning and operation of the project. Hexa will support the development of Malaysia’s energy transition-related sectors including RE, grid stability, battery energy storage system, clean fuels and energy efficiency.
The project is part of Malaysia’s goal in its National Energy Transition Roadmap to have 70% of the country’s energy capacity sourced from renewables by 2050.
Hexa Renewables’ commitment is also in line with I Squared’s agreement with the U.S. International Development Finance Corp. to finance sustainable infrastructure projects.
Recommended Reading
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
Baker Hughes Wins Contracts for Woodside’s Louisiana LNG Project
2024-12-30 - Bechtel has ordered gas technology equipment from Baker Hughes for the first phase of Woodside Energy Group’s Louisiana LNG development.
Chevron Names Laura Lane as VP, Chief Corporate Affairs Officer
2025-01-13 - Laura Lane will succeed Al Williams in overseeing Chevron Corp.’s government affairs, communication and social investment activities.
Plains All American Prices First M&A Bond of Year
2025-01-13 - U.S. integrated midstream infrastructure company Plains All American Pipeline on Jan. 13 priced a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
Gigablue Enters CCS Agreement with Investment Firm SkiesFifty
2025-01-14 - Carbon removal company and investment firm SkiesFifty have partnered to sequester 200,000 tons of CO2 over the next four years.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.