The Malaysian engineering-based infrastructure and services company, UEM Group, has acquired a majority shares in sustainable energy solutions firm Cenergi from Khazanah. UEM Group stated on Aug. 16 that Cenergi is now one of its subsidiaries.
Mohd Izani Ghani, UEM Group Managing Director, said, “Cenergi has a commendable track record with projects and presence across the country. We see immense potential in this company and are committed to nurture as well as provide the necessary expertise, operational and financial support that will enhance Cenergi’s operational capabilities, secure more projects and usher in a new era of growth.”
According to him, Cenergi is a key asset of the group and the firm’s goal is to ultimately position Cenergi as a green domestic champion to contribute significantly to Malaysia’s sustainable future.
Mohd Izani Ghani also mentioned that renewable energy is one of the key sectors and immediate priority of UEM Lestra, the green industries arm and wholly-owned subsidiary of UEM Group.
He said, “This is due to the sector’s strong market attractiveness and high importance to Malaysia’s decarbonization agenda, Cenergi’s extensive experience and capabilities in this sector makes them a valuable addition to UEM Group and UEM Lestra specifically.”
He also noted that Cenergi’s inclusion in UEM Group of companies will further enhance strategic complementarity amongst its subsidiaries across different core businesses.
Funded in 2008, Cenergi specializes in reducing carbon footprints through investments in renewable energy, specifically in biogas, biomass, solar, and energy efficiency projects.
The company is Malaysia’s biggest grid-connected palm oil mill effluent biogas player. It has a portfolio of 23 biogas power plants in Malaysia and Indonesia, with a total generation capacity of 39.6 MW.
It also has 20 solar projects across the country, consisting of both solar farms and rooftop solar, with a cumulative capacity of over 37.6 MWp.
Currently, Cenergi has in the pipeline biogas, rooftop solar and solar farm projects that are under construction and development in Malaysia.
Additionally, its subsidiary, Cenergi EE Holdings, was recently allotted a 29.99MWac quota under Energy Commission’s Corporate Green Power Programme (CGPP).
From August 2012 to May 2023, though its various operating assets and investments, Cenergi has avoided over 2.4 million tons of carbon emissions. This translate into removing approximately 547,762 passenger vehicles from the road or powering 310,234 homes for a year.
