The acquisition of Cenergi is expected to create synergistic opportunities across UEM Group’s subsidiaries particularly in terms of RE initiatives.

In a statement today, UEM said the group feels confident with Cenergi’s potential to be at the forefront of the nation’s sustainability drive.

“Cenergi is a key asset of UEM Group, and our ultimate goal is to position Cenergi as a green domestic champion, significantly contributing to Malaysia’s sustainable future,” said UEM Group managing director Izani Ghani.

Khazanah, Malaysia’s sovereign wealth fund, is the parent company of UEM Group.

Cenergi is a sustainable energy solutions company which was incorporated in 2008. It is currently engaged in various stages of construction and development for biogas, rooftop solar, and solar farm projects in Malaysia.

According to the statement, Cenergi currently has 23 biogas power plants in Malaysia and Indonesia, with a total generation capacity of 39.6MW.

It also has 20 solar projects across the country, comprising solar farms and rooftop solar, with a total capacity of over 37.6MW.

Cenergi presently has a number of RE projects in the pipeline.

Its subsidiary Cenergi EE Holdings Sdn Bhd was recently granted a 29.99MW alternating current quota under the Energy Commission’s Corporate Green Power programme.

Izani highlighted that Cenergi has a commendable track record in terms of projects and a reputable presence in the country.

“We see enormous promise in this firm and are committed to nurturing it.

“We will provide the necessary technical, operational, and financial support to improve Cenergi’s operating capabilities, secure more projects, and usher in a new age of growth,” said Izani.

UEM Group, founded in 1966, has played a significant role in the development of Malaysia’s major infrastructure projects.

It holds majority stakes in various core businesses, including expressways, township and property development, engineering and construction, and asset and facility management.