Biogas project set after joint venture in Malaysia
A division of Malaysian conglomerate Sime Darby has signed a pact with state-run power producer Tenaga Nasional (TNB) to establish a joint venture that will generate power from agricultural waste.
Sime Darby Plantation will hold a 51% equity stake in the proposed joint venture, and the remainder will be held by TNB Energy Services.
The proposed joint venture, which is currently subject to shareholders' and other regulatory approvals, will be named Sime Darby TNBES Renewable Energy.
The company will produce biogas from palm oil mill effluent to power facilities at Sime Darby's Flemington and Hadapan estates, plus also feed excess electricity to the national grid.