BiON acquires two biogas plants from Megagreen Energy

Environmental engineering, wastewater treatment and renewable energy solutions firm BiON has acquired two biogas power plants from its associate firm Megagreen Energy (MGE).

The acquisition of the two biogas plants, Nasarudin and Seberang Perak (both in Malaysia), increase BiON’s installed capacity to 7 MW. The plants were acquired for MYR45.99m (€9.46 million).

Commercial operations at the two plants are expected to commence by the end of the year, subject to the receipt of approvals from the relevant authorities. The plants are under the Malaysian Feed-in-Tariff (FiT) programme with 16-year power purchase agreements with Tenaga Nasional Berhad, the country’s largest integrated electricity company.

Once the two biogas plants are running at full capacity, they are expected to contribute around MYR9.0m (€1.85 million) in revenues per year over the 16-years.

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