The Board of Directors of Asia Poly (“Board”) is pleased to announce that the indirect subsidiary company, Asia Poly Hydro (Pahang) Sdn. Bhd.(“APHPSB”), had on 17 November 2022, been selected as one of the successful bidders under the feed-in tariff (“FiT”) e-bidding exercise conducted by SEDA for the development of small hydro power in Malaysia. APHPSB is a 70% owned subsidiary of Asia Poly via Asia Poly Green Energy Sdn. Bhd., a wholly owned subsidiary of Asia Poly.
Under the e-bidding exercise, APHPSB shall develop small hydro power plant with a total capacity of 25.4 MW in Pahang with a basic FiT rate of RM0.2382 per kilowatt-hour (“Project”).
The feed-in approval certificate (“Approval Certificate”) shall be issued within fourteen (14) days upon fulfilling the conditions as sets out by SEDA.
The Company shall make further announcement upon the receipt of the Approval Certificate.
This announcement is dated 17 November 2022.