3 days ago
- Business
- New Straits Times
DNeX, PowerChina unit to explore, develop key RE ventures in Malaysia
KUALA LUMPUR: Dagang NeXchange Bhd has partnered with Sinohydro Corporation (M) Sdn Bhd to explore and develop key initiatives across Malaysia's growing renewable energy (RE) sector.
Sinohydro Malaysia serves as Power Construction Corporation of China Ltd's (PowerChina) subsidiary in Malaysia, actively undertaking major construction and engineering projects across the country since 1998.
The partnership reflects both sides' commitment to innovation, supporting Malaysia's clean energy transition, economic growth and local upskilling through technology transfer and global best practices.
It outlines several key areas of cooperation designed to support the government's vision of accelerating Malaysia's clean energy agenda in line with the National Energy Transition Roadmap.
This includes RE project development, technology transfer and best practices, sustainable rare earth exploration, innovation and enhancement, as well as local talent development.
DNeX group chief executiv officer Faizal Sham Abu Mansor said the collaboration will not only unlock new RE potential across the nation but also enable us to embrace advanced technologies like small modular reactor (SMR).
"This opportunity will greatly complement our on-going sustainability plans in the wnergy sector as we intend to move our oil and gas portfolio closer to bridge fuel like natural gas in lieu of oil and in our IT sector which is focusing more and more on provision of sovereign cloud and artificial intelligence (AI) services.
"This requires large amount of energy, and partnering with Sinohydro enables us to moonshot ourselves in the field of SMR and ensure our products and service offerings are not only reliable but a carbon-free power source," he added.
Faizal said Sinohydro's joint commitment to clean rare earth extraction aligns perfectly with our vision for responsible resource management and industrial growth.
"We are particularly excited about the prospect of developing local expertise and creating high-value jobs in these critical sectors.
"As we accelerate our shift towards a greener future, this partnership represents a milestone in our renewable energy transition and expansion from our traditional oil and gas business reinforcing our dedication to environmental stewardship," he said.
Sinohydro has been involved in major power projects in Malaysia, including the 2,400 megawatt (MW) Bakun hydroelectric plant, the largest in Malaysia and Southeast Asia.
Other key projects include the Connaught Bridge and Tanjung Kidurong power plants, Hulu Terengganu and Murum hydro plants, the LSS3 Coara Marang solar project and Telekosang small hydro plants.
It is currently building the Baleh hydroelectric project and the Miri combined cycle gas turbine plant.
