UEM Sunrise announces development of 40-acre renewable energy industrial park in Iskandar Puteri

R. Loheswar
·3-min read
Malay Mail
Malay Mail

KUALA LUMPUR, May 16 — UEM Group Bhd said today that its subsidiary UEM Sunrise Berhad has entered a strategic partnership with Itramas Corporation Sdn Bhd and China Machinery Engineering Corporation (CMEC) to develop a 40-acre Renewable Energy (RE) Industrial Park in Gerbang Nusajaya, Iskandar Puteri, Johor.

This RE Industrial Park is a part of the one-gigawatt hybrid solar power plant project, a key initiative under Malaysia’s National Energy Transition Roadmap (NETR) announced by the government in July 2023.

This follows the signing of Memorandums of Understanding (MoUs) between UEM Group, Itramas, CMEC’s subsidiary China Machinery Engineering Wuxi Co Ltd, Blueleaf Energy, and Hexa Renewables, to collaborate on project development, financing and commercialisation of green electricity.

The MoU was signed by UEM Sunrise’s Chief Executive Officer Sufian Abdullah, Itramas Managing Director Lee Choo Boo and CMEC General Manager Assistant Li Mingqiang. Witnesses included Harman Faiz Habib Muhamad, Acting CEO of UEM Lestra Berhad; Royd Lee, Project Development Director from Itramas; and Fang Yangshui, President of CMEC.

“This signing is another milestone as we inch closer to realise our venture under NETR,” UEM Group’s managing director Datuk Mohd Izani Ghani said in a joint statement.

“As we forge ahead with the RE Industrial Park, the strategic importance of attracting manufacturers, suppliers and industry players from across the RE and EV value chains from China cannot be overstated.”

“Securing partnership interest from China not only enhances the viability and impact of this national strategic project, but also underscores the importance of cross-border collaboration in driving sustainable development,” he added.

This announcement marks the second major initiative related to NETR by UEM Group and Itramas. Earlier this year, UEM Lestra, a green investment arm of UEM Group, partnered with Itramas and HEXA Renewables Malaysia Sdn Bhd to develop a 500-megawatt hybrid solar power plant in Segamat, Johor.

The RE Industrial Park in Gerbang Nusajaya aims to attract manufacturers and suppliers from China involved in the RE and electric vehicle (EV) sectors, along with high-tech companies to establish operations and R&D centres.

The park will include a RE Hub with a state-of-the-art solar module factory and advanced research facilities, boosting Malaysia’s energy transition and EV ecosystems.

“The prime location of Gerbang Nusajaya in proximity with Singapore, complemented by access to major air and seaports significantly enhances our industrial appeal to the international investors. This RE Industrial Park will not only act as a crucial driver in the Iskandar Puteri’s economic growth and transformation but enable the ecosystem surrounding RE and EV value chains in supporting the nation’s energy transformation agenda,” said Sufian Abdullah, chief executive officer of UEM Sunrise.

“Building on the legacy of our other landmark projects such as Nusajaya Tech Park and Southern Industrial & Logistic Cluster in Johor, we are confident of developing a sustainable RE industrial park on a 40-acre lot with 730,000 square feet of Gross Floor Area of factories,” he added.

Meanwhile, managing director of Itramas, Lee Choo Boo said the partnership will reinforce their commitment to advancing Malaysia’s energy sector.

“We are particularly excited about the RE Hub within the park, which will feature state-of-the-art facilities, including a cutting-edge solar module factory and advanced research centres. These facilities will not only enhance our production capabilities but also propel us to the forefront of innovation in renewable energy,” said Lee.

Together, we look forward to setting new standards in the industry and contributing to Johor’s growth as a dynamic hub for renewable energy.”

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • Wood pellets production boomed to feed EU demand. But it's come at a cost for Blacks in the South

    This southern Mississippi town's expansive wood pellet plant was so close to Shelia Mae Dobbins' home that she sometimes heard company loudspeakers. Dobbins feels her life — and health — were better before 2016, when United Kingdom energy giant Drax opened a facility able to compress 450,000 tons of wood chips annually in the majority Black town of Gloster, Mississippi.

  • Apple's China smartphone shipments drop 6.7% as Huawei surges, data shows

    BEIJING (Reuters) -Apple's smartphone shipments in China fell by 6.7% in the second quarter of 2024, as the tech giant faced intensifying competition from rivals like Huawei, according to data from market research firm Canalys. Apple's total shipments for the quarter ending in June stood at 9.7 million units, down from 10.4 million units in the same quarter last year, Canalys data shows. In contrast, Huawei's smartphone shipments surged 41% year-on-year to 10.6 milion in the quarter, bolstered by the launch of its new Pura 70 series in April.

  • Broadcom Inc. (AVGO) Suffers a Larger Drop Than the General Market: Key Insights

    Broadcom Inc. (AVGO) closed at $149.26 in the latest trading session, marking a -1.37% move from the prior day.

  • Man punches grizzly in face during bear attack in northern B.C.

    A B.C. cyclist is recovering after a run-in with a grizzly and two cubs that ended with the bear getting punched in the face. According to conservation officer Matthew Corbett, a man was riding his bike along a forested trail next to Anderson Flats Provincial Park in northwest B.C. when he surprised a female grizzly and her two cubs in a clearing. "The bear just immediately charged him, knocked him down," Corbett said. But the man put his bike between himself and the bear, which prevented him fr

  • TSMC leads chipmaker plunge as trade resumes after typhoon pause

    Taiwanese giant TSMC tumbled with several other leading chip makers Friday as traders returned from a typhoon-imposed two-day break to play catch-up with a global tech rout.The rally in all things tech helped TSMC, which is also listed in New York, to briefly break the US$1 trillion market capitalisation barrier this month, putting it ahead of Tesla as the seventh most valuable technology firm. 

  • Wandering wolf of the Southwest confined through 2025 breeding season in hopes of producing pups

    An exceptionally restless female Mexican gray wolf nicknamed Asha will be held in captivity with a potential mate through another breeding season in hopes of aiding the recovery of the species, the U.S. Fish and Wildlife Service said Thursday. Asha captivated the public imagination after she was found wandering far beyond the boundaries established along the Arizona-New Mexico border for managing the rarest subspecies of gray wolf in North America. U.S. Fish and Wildlife Service spokesperson Aislinn Maestas said the wolf, known to wildlife biologists as F2754, has shown signs of bonding and breeding activity with a captive-born male, though so far without producing pups.

  • Compared to Estimates, MarineMax (HZO) Q3 Earnings: A Look at Key Metrics

    Although the revenue and EPS for MarineMax (HZO) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

  • Biggest US tech sell-off for over a decade reflects impatience over AI profits

    The Nasdaq and S&P 500 have suffered their worst single-day decline since 2022 - led by underwhelming financial results from Tesla and Alphabet, the owner of Google. The sell-off points to wider concerns surrounding the high valuations of a handful of tech giants, and how vulnerable the wider US market is to their fate. The so-called "magnificent seven" of high-performing tech stocks are Microsoft, Amazon, Google Parent - Alphabet - Tesla, Facebook (aka Meta), Nvidia, and Apple.

  • CNN meteorologist explains how extreme weather might affect the Olympics

    While Paris is particularly vulnerable to urban heat effects, heavy rain could also be a factor during the Olympic Games. CNN’s Derek Van Dam speaks to the meteorologists responsible for monitoring incoming severe weather, informing the Olympic committee on the potential impacts.

  • Fed's preferred inflation gauge shows prices rose at slowest pace since March 2021

    The latest reading on the Fed Reserve's preferred inflation gauge comes just days before the Fed's next policy meeting as investors look for clues on when interest rate cuts might begin.

  • Typhoon Gaemi weakens as it leaves Taiwan for China

    Typhoon Gaemi passed through Taiwan overnight and was headed towards eastern China on Thursday, leaving two dead as heavy rains and strong gusts continued to lash the island in its wake. Taiwan is accustomed to frequent tropical storms from July to October, but experts say climate change has increased their intensity, leading to heavy rains, flash floods and strong gusts.

  • Number of whales and dolphins to be counted as UK seas face heat and pollution pressures

    Census could show effects man-made challenges are having on sea creatures

  • Stocks to watch next week: Meta, Apple, Amazon and also UK interest rates

    Earnings preview of key companies reporting next week and what to look out for

  • Classrooms breached recommended temperatures during heatwave

    Classrooms hit nearly 30C during last month’s heatwave and caused some pupils to vomit and faint, a study has found.

  • Capgemini forecasts surprise revenue fall on automotive, aerospace downturn

    French IT group Capgemini forecast a surprise fall in annual revenue on Friday, citing a downturn in the automotive and aerospace sectors, sending its shares tumbling more than 9%. Shares of Capgemini fell 9.4% by 0728 GMT to hit the bottom of the CAC40 index, after the Paris-based group said it now expects its organic sales to fall between 0.5% and 1.5% in 2024, compared with the 0-3% rise previously forecast. "The slope of recovery in the second half will be affected by the recent deterioration of the outlook in the automotive and aerospace sectors and the slower recovery in financial services," CEO Aiman Ezzat said in a statement.

  • 'Back to zero': Manila flood victims clean up, start again

    Manila street vendor Zenaida Cuerda said Thursday she is "back to zero" after floodwaters washed away the food she sells for a living and swept through her house.We're now back to zero.

  • Should Value Investors Buy New Gold (NGD) Stock?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Humanity suffering from 'extreme heat epidemic,' UN chief warns

    Humanity is suffering from an "extreme heat epidemic," UN Secretary-General Antonio Guterres warned Thursday, calling for action to limit the impacts of heat waves intensified by climate change."The good news is that we can save lives and we can limit its impact," Guterres said Thursday. 

  • Zacks.com featured highlights include RTX, Intrepid Potash and DHT Holdings

    RTX, Intrepid Potash and DHT Holdings are part of the Zacks Screen of the Week article.

  • 3 Artificial Intelligence (AI) Stocks Down 25% to Buy Now and Hold

    Some of the best times to buy great stocks is when seemingly everyone else is selling. Today we dive into three AI-focused stocks that long-term investors might want to buy after they tumbled 25% or more from their highs.